Highlights of the Newsletter for 39th week of 2018 are:

1.       The Central Board of Direct Taxes (CBDT), extends due date for filing of income-tax returns as well as all reports of audit from September 30, 2018 to October 15, 2018.

2.       New enhancements in the E- Way Bill (EWB) generation form to be released on October 1, 2018.

3.       The Reserve Bank of India (RBI) introduces the Co-origination Model between Banks and Non-Banking Financial Companies – Non-Deposit taking - Systemically Important (NBFC-ND-SIs) for providing competitive credit to priority sector.

4.       The Securities and Exchange Board of India (SEBI), had decided that Beneficial ownership criteria in Prevention of Money-laundering (Maintenance of Records) Rules, 2005 (PMLA Rules) should be made applicable for purpose of KYC and not for determining eligibility of Foreign Portfolio Investors and according has issued a Circular to this effect.

5.       The Ministry of Agriculture and Farmers’ Welfare has launched the online software for Agmark on September 26, 2018 for application processes related to Agmark certification in a simple, quick, transparent manner  with 24x7 availability.

6.       Registration and Licensing Mandatory Online on the Shram Suvidha Portal under the Contract Labour (Regulation and Abolition) Central Rules, 1971 and Inter-State Migrant Workmen (Regulation of Employment and Conditions of Service) Central Rules, 1980

7.       MCA releases process for re-engineering of LLP Incorporation related forms under Limited Liability Partnership (Second Amendment) Rules, 2018. The MCA also issued a document on the precautions to be taken by Users/Professionals for successful submission of RUNLLP/FiLLiP.

8.       The Department of Consumer Affairs (DCA), on September 14, 2018, has made amendments to the Consumer Protection Rules, 1987 to change the fees for making complaints before District Forum in accordance with the total value of goods or services and the compensation claimed.

9.       Tamil Nadu Government has published Tamil Nadu Shops and Establishments (Amendment) Bill, 2018 to further amend the Tamil Nadu Shops and Establishments Act, 1947 for introducing new process of registration and renewal of shops and establishments and also prohibiting the discrimination against women employee.

Avantis Softech Newsletter_Issue 39 of 2018