Highlights of Newsletter | Issue 04 of 2019

·         CBDT has identified the non-filers through Non-filers Monitoring System by using Data Analytics and requested the non filers to file the Income Tax Returns or submit online responses within 21 days.

·         SEBI has recently published SEBI (Prohibition of Insider Trading) (Amendment) Regulations, 2019 and also clarified that a recognized clearing corporation and directors of the entity are not considered as Depository Participants under SEBI (Depositories and Participants) Regulations, 2018.

·         The Ministry of Corporate Affairs has recently passed Companies (Prospectus and Allotment of Securities) Amendment Rules, 2019; Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019 and Companies (Acceptance of Deposits) Amendment Rules, 2019.

·         The Ministry of Corporate Affairs has informed that a new e-Form INC-20A which is the form for declaration for commencement of business will be available with effect from January 26, 2019.

·         TRAI has issued direction to the broadcasters, service providers and distributors of the television channels relating to implementation of New Regulatory Framework for Broadcasting and Cable Services.

·         The Department of Industrial Policy and Promotion has published the Explosives (Amendment) Rules, 2019 and Gas Cylinders (Amendment) Rules, 2019.

·         The Government of Bihar has notified the guidelines for industrial finance to promote industrial investment in the State of Bihar.

·         The Chandigarh Administration on January 23, 2019 has made amendment in the Capital of Punjab (Development & Regulation) Act, 1952 to incorporate enabling provisions for revision of penalty to be imposed in cases of Building Violations and misuse of premises of Chandigarh.

·         The State Government of Haryana and Gujarat has amended the meaning of Advance Authorisation under Haryana and Gujarat Goods and Services Tax Act, 2017.

·         The Government of Rajasthan has issued instructions to assessing authorities regarding furnishing of revised Form VAT-40E under the Rajasthan Value Added Tax Act, 2003.


Avantis Regtech Newsletter_Issue 4 of 2019