1.
National
Entrepreneurship Award-2019
v Press
News:
1.
CBDT
enters into 26 APAs during the current Financial Year (2019-20)
The
Central Board of Direct Taxes (CBDT) has entered into 26 Advance Pricing
Agreements (APAs) in the first 5 months of the current financial year (April to
August, 2019). With the signing of these APAs, the total number of APAs entered
into by the CBDT as of now stand at 297, which includes 32 Bilateral Advance
Pricing Agreements (BAPAs).
The international transactions
covered in all these agreements, inter alia, include the following:-
·
contract manufacturing
·
provision of software
development services
·
back office engineering support
service
·
provision of back office (ITeS)
support services
·
provision of marketing support
services
·
payment of royalty for use of
technology and brand
·
trading and distribution
·
payment of charter charges
·
corporate guarantee
·
intra-group services
·
interest on financial
instruments
2.
Enforcement
of various provisions of the Arbitration
and Conciliation (Amendment) Act, 2019.
The
Arbitration and Conciliation (Amendment) Act, 2019 was notified on 9th August,
2019. Sub-Section 2 of Section 1 of the Arbitration and Conciliation
(Amendment) Act, 2019 provides as under:-
“(2) Save as otherwise provided in this Act,
it shall come into force on such date as the Central Government may, by
notification in the Official Gazette, appoint and different dates may be
appointed for different provisions of this Act and any reference in any such
provision to the commencement of this Act shall be construed as a reference to
the coming into force of that provision.”
The
Arbitration and Conciliation (Amendment) Act, 2019, appoints the 30th August,
2019, for enforcement of the following Sections of the Arbitration and Conciliation (Amendment) Act,
2019:-
·
Section 1;
·
Section 4 to 9 [both inclusive];
·
Section 11 to Section 13 [both inclusive];
·
Section 15.
3.
Declaration
of certain individuals as terrorists under the Unlawful Activities (Prevention)
Act, 1967
Invoking the recent amendments in the
Unlawful Activities (Prevention) Act, 1967, the Central Government has decided
to declare the following individuals as terrorists and add their names to
Schedule 4 of the Act:
v GST Updates
1.
The Delhi
Goods and Services Tax (Fifth Amendment) Rules, 2018
The Lt. Governor of National Capital Territory of Delhi hereby
makes the following rules further to amend the Delhi Goods and Services Tax
Rules, 2017.
2.
Delhi Goods
and Services Tax (Sixth Amendment) Rules, 2018
The Lt. Governor of National Capital Territory of Delhi hereby
makes the following rules further to amend the Delhi Goods and Services Tax
Rules, 2017.
v Some Important Amendments in Laws:
1.
Unlawful
Activities (Prevention) Act, 1967
Whereas, the Unlawful Activities (Prevention) Act,
1967 (37 of 1967) (hereinafter referred to as the said Act) has been enacted to
provide for more effective prevention of certain unlawful activities of
individuals and associations and for dealing with terrorist activities and for
matters connected therewith;…………………..
2.
Foreign
Trade Policy, 2015-2020
The quantity of raw sugar 8424 MTs (Eight thousand
four hundred and twenty four metric tons) to be exported to USA under TRQ from
01.10.2019 upto 30.09.2020 is notified.
3.
The
Foreigners (Tribunals) Order, 1964
In exercise of the powers conferred by section 3 of
the Foreigners Act, 1946 (31 of 1946), the Central Government hereby makes the
following order further to amend The Foreigners (Tribunals) Order, 1964
4.
The
National Medical Commission Act, 2019
The Central Government hereby notifies that the
provisions of sections 3, 4, 5, 6, 8, 11, 16, 17, 18, 19, 56 and 57 of the said
Act shall come into force with effect from the 02nd day of September, 2019.
v Corporate Bites
1.
Allow FPIs
to directly buy distressed loans from banks: RBI panel
The securitisation trust route should also be permitted for
acquisition of NPAs by FPIs.
2.
ESIC ties up
with SBI for DBT facility
According to the statement, the bank would provide e-payment
integration with the enterprise resource planning processes of ESIC through its
cash management product e-payment technology platform
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