The Ministry of Finance has extended the time period for the levy of compensation cess up to 31 March, 2026.
Copy of notification
The Ministry of Finance has extended the time period for the levy of compensation cess up to 31 March, 2026.
Copy of notification
Circular No.: SEBI/HO/IMD/FPI&C/CIR/P/2022/84
Applied to
1. All Foreign Portfolio Investors (“FPIs”) through their Designated Depository Participants (“DDPs”)
2. Designated Depository Participants (“DDPs”)/Custodian
1.‘Annexure D’ of the ‘Operational Guidelines for Foreign Portfolio Investors, Designated Depository Participants and Eligible Foreign Investors’, issued vide SEBI Circular No. IMD/FPI&C/CIR/P/2019/124 dated November 05, 2019 (hereinafter referred to as ‘the Operational Guidelines’), inter-alia, specifies Bank account details for remittance of various payment of various SEBI fees in US $.
2.In order to facilitate faster confirmation of remittances by theintermediaries,necessary arrangement has been made for foreign inward remittances in the following account:
Name of the Bank Account | Securities and Exchange Board of India |
Name of Bank, Branch | ICICI Bank Ltd., Bandra Kurla Complex, Bandra (East), Mumbai 400051 |
Bank Account No. | 55501001994 |
IFSC Code | ICIC0000555 |
MICR Code No. | 400229029 |
Swift Code No. | ICICINBBNRI |
3.All other provisions of the Operational Guidelines shall remain unchanged. The provisions of this circular shall be applicable with effect from June 24, 2022.
4.This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992
Please refer to paragraph 1 (b) of the Master Direction – Credit Card and Debit Card – Issuance and Conduct Directions, 2022 (“Master Direction”) dated April 21, 2022, wherein the Reserve Bank had prescribed a timeline of July 01, 2022, for implementation of the provisions of the Master Direction.
2. Considering various representations received from the industry stakeholders, it has been decided to extend the timeline for implementation of the following provisions of the Master Direction to October 01, 2022:
Paragraph 6(a)(vi) – Card-issuers shall seek One Time Password (OTP) based consent from the cardholder for activating a credit card, if the same has not been activated by the customer for more than 30 days from the date of issuance. If no consent is received for activating the card, card-issuers shall close the credit card account without any cost to the customer within seven working days from date of seeking confirmation from the customer.
Paragraph 6(b)(v) – Card-issuers shall ensure that the credit limit as sanctioned and advised to the cardholder is not breached at any point in time without seeking explicit consent from the cardholder.
Paragraph 9(b)(ii) – No capitalization of unpaid charges/levies/taxes for charging/ compounding of interest.
3. The stipulated timeline for implementation of rest of the provisions of the Master Direction remains unchanged.
Proposals are invited under following sub-schemes of “PRADHAN MANTRI KISAN SAMPADA YOJANA” for setting up infrastructure projects in food processing sector as per the respective
scheme guidelines dated 8th June 2022.
i. Creation of Infrastructure for Agro Processing Clusters (APC)
ii. Creation/Expansion of Food Processing & Preservation Capacities (CEFPPC)
iii. Integrated Cold Chain and Value Addition Infrastructure (Cold Chain)
iv. Setting up/ Upgradation of Food Testing Laboratories (FTL)
v. Operation Greens – Long Term Interventions (OG)
The entities may submit their proposals online at https://www.sampada-mofpi.gov.in/ with relevant details as per the Operational Guidelines of the respective scheme under “PRADHAN MANTRI KISAN SAMPADA YOJANA”. The detailed guidelines of the scheme are available at https://www.mofpi.gov.in.
The last date for submitting application online is 17:00 Hrs on 10th August, 2022.
Pre-bid meeting will be held on 4 th July 2022 at 10:00 Hrs in Room No. 120, Ministry of Food Processing Industries, Panchsheel Bhawan, August Kranti Marg, New Delhi.
The link for submission of online application shall be available & functional from 10.00 hrs of 27th June 2022 till 17.00 hrs of 10th August 2022.
View Notification : https://www.mofpi.gov.in/sites/default/files/eoi-pmksy-f.pdf
Scheme Details:
i. Creation of Infrastructure for Agro Processing Clusters (APC) – https://www.mofpi.gov.in/sites/default/files/20220608200951_0.pdf
ii. Creation/Expansion of Food Processing & Preservation Capacities (CEFPPC) – https://www.mofpi.gov.in/sites/default/files/cefppc_scheme_guidelines_dated_08.06.2022_0.pdf
iii. Integrated Cold Chain and Value Addition Infrastructure (Cold Chain) – https://www.mofpi.gov.in/sites/default/files/scheme_guidelines_cold_chain_0.pdf
iv. Setting up/ Upgradation of Food Testing Laboratories (FTL)
Guidelines for Scheme of Setting up/Up gradation of Food Testing Laboratories https://www.mofpi.gov.in/sites/default/files/scheme_gudelies_dated_08062022_as_on_20062022_1.pdf
v. Operation Greens – Long Term Interventions (OG) – https://www.mofpi.gov.in/sites/default/files/og_scheme_guidelines_0.pdf
List of Eligible Production Clusters for Operation Greens-Long Term Interventions – https://www.mofpi.gov.in/sites/default/files/list_of_eligible_clusers_0.pdf
Notice for inviting bids for engaging PMAs under Pradhan Mantri Kisan Sampada Yojana (PMKSY) – https://www.mofpi.gov.in/sites/default/files/notice_dated_17.06.2022_for_engaging_pmas_under_pmksy.pdf
Interested eligible Applicants can start the registration process for the Scheme from 21st June 2022 at https://lnkd.in/gyAR6BT. The Application window shall be open for 30 days i.e. up to 20th July 2022.These applications are invited for the balance fund of more than ₹4000 crores. This will give a boost to manufacturing of telecom and networking products to develop 5G ecosystem for India.
The amendments in the Guidelines in this regard has been issued separately and are available at DoT website and also on https://lnkd.in/gyAR6BT.
Shri Piyush Goyal & Mr. Valdis Dombrovskis, Executive Vice-President of the European Commission also announce the launch of negotiations for an Investment Protection Agreement and a GI Agreement at a joint event at the EU headquarters at Brussels
The first round of negotiations to begin on 27th June in New Delhi
Among the most significant FTAs for India as EU is its 2nd largest trading partner, India-EU merchandise trade registered an all-time high value of USD 116.36 Billion in 2021-22 with a year-on growth of 43.5%
CPCB has undertaken comprehensive measures to give effect to India’s commitment to ban identified Single Use Plastic items by 30thJune, 2022, to realise Hon’ble PM’s clarion call to phase out SUP.CPCB’s multi-pronged approach as part of its Comprehensive Action Plan encompasses measures to reduce supply of raw materials, demand side measures to reduce plastic demand, enabling measures to promote alternatives to SUP, digital interventions for efficient monitoring and to create awareness, and guidance to State Boards for effective implementation of directions.
As per the Plastic Waste Management (PWM) Rules, 2016, there is a complete ban on sachets using plastic material used for storing, packing or selling gutkha, tobacco and pan masala. As per PWM (Amended) Rules, 2021, the manufacture, import, stocking, distribution, sale and use of carry bags made of virgin or recycled plastic less than seventy- five microns has been banned with effect from 30th September, 2021 as opposed to fifty microns recommended earlier under PWM Rules, 2016. Additionally, the notification of12th August 2021, prohibits manufacture, import, stocking, distribution, sale and use of the following identified single use plastic items, which have low utility and high littering potential with effect from the 1st July, 2022:
To curb the supply of identified items, directions have been issued at national, state and local level. For example, all leading petrochemical industries to not supply plastic raw materials to the industries engaged in banned SUP production. Additionally, directions have been issued to SPCB/PCCs to modify / revoke Consent to operate issued under Air/Water Act to industries engaged in banned SUP production. Customs Authority have been asked to stop the import of banned SUP items. To complete the loop, Local Authorities have been being directed to issue fresh commercial licenses with the condition that SUP items shall not be sold on their premises and the existing commercial licenses shall be cancelled, if entities are found to be selling banned SUP items.
As an alternative to the existing supply, enabling measures for promoting alternative to SUP are being actively pursued. CPCB has already issued one-time certificates to around 200 manufacturers of compostable plastic. These certificates do not require renewal which is in line with ease-of doing business policy of the Government. Further, an Online portal has been developed to facilitate certification of these manufacturers. To support the MSMEs, CPCB in association with CIPET is organizing Workshops for MSMEs across the country to transition to alternatives to SUP. Three such Workshops have been held at Ranchi, Guwahati & Madurai. Development of alternatives to petro based plastics is also being pursued in collaboration leading technical institutions like IISc and CIPET.
On the demand side, directions have been issued to E-commerce companies, leading single use plastic sellers/users, and plastic raw material manufacturers with respect to phasing out of identified single use plastic items. To encourage citizens to partake in the efforts, SPCB’s and local bodies are organizing large scale awareness drives with participation of all citizens – students, voluntary organisations, self-help groups, local NGOs/CSOs, RWAs, market associations, corporate entities, etc. Previously, CPCB conducted surprise inspections of Gutkha / Pan Masala manufacturing industries across the country to check usage of plastic in packaging of their product.
To create an enabling support system, CPCB is handholding the State Boards to operationalise the advisories issued by conducting meetings so that all the Urban local bodies in the respective states are able to effectively implement the guidelines with their help. Regional Workshops with SPCBs/PCCs in addition to a Central Workshop with Chairpersons of all SPCBs/PCCs is being organised in June 2022.
Finally, multiple digital interventions have been made to increase efficiency at scale. To enable citizen participation, an SUP Public Grievance App was launched by Hon’ble Minister EF&CC, Shri Bhupender Yadav. The app has geotagging features with facility to track complaints. An SUP Compliance Monitoring Portal for filing of Reports by State / UT Authorities in compliance with Comprehensive Directions issued by CPCB for a bird’s eye view of progress and day-to-day monitoring.
CPCB is committed to facilitating the Single Use Plastic Ban of notified items through active collaboration with key stakeholders to achieve this ambitious goal of phasing out SUP plastics for India’s green future.
Source : https://www.pib.gov.in/PressReleasePage.aspx?PRID=1835009
Net Direct Tax collections for the F.Y. 2022-23 continue to grow at a robust pace further fortifying the economic revival
Gross Tax collections for the Financial Year 2022-23 grown at about 40%
Advance Tax collections for F.Y. 2022-23 stand at Rs. 1,01,017 crore which shows a growth of more than 33%
Refunds amounting to Rs. 30,334 crore issued in the F.Y. 2022-23
IRDAI, in its continuous endeavour towards promoting ease of doing business for insurance companies in India, has reviewed and rationalized the regulatory returns to be filed by the Insurance Companies.
IRDAI has reduced the number of off-line returns being submitted by Life Insurers from 40 to only 4 whereas the number of online returns would come down from 8 to 5. Three separate certification requirements have also been consolidated into one.
It is expected that reduced compliance burden will enable insurers to better focus their efforts and time in reaching out to every Indian with the ultimate goal of improving coverage and penetration.
Circular
Comments / Suggestions on Draft Guidelines for Operationalization of Ro-Ro and Ro-Pax ferry service along the coast of India
Ministry of Ports, Shipping and Waterways (MoPSW) intends to develop Ro-Ro and Ro-Pax ferry service along the coast of India connecting various Major Ports and non-Major Ports.In this regard, Ministry has prepared draft of “Guidelines for Operationalization of Ro-Ro and Ro-Pax ferry service along the coast of India” after incorporating the preliminary inputs received from the stakeholders. The guidelines encompass the two aspects of ferry operation namely; concessions for terminal operation and license for operation of Ro-Pax vessels.
These guidelines will homogenize and streamline the development and operations of ferry services, along with, promoting ease of doing business by eliminating unnecessary delays, disagreements and introducing digital interventions at customer interface. They will also help State/UT Governments and Port Authorities in implementation of such projects by standardization of procedures. Further, it will help in instilling confidence among the private players thereby increasing their participation and promoting healthy competition in such projects.
The Ministry intends to seek feedback and suggestions on the draft guidelines for operationalization of Ro-Ro and Ro-Pax ferry service along the coast of India from all stakeholders latest by 6th July 2022.The comment/feedback can be provided as per the format provided in Annexure II preferably on the Email ID: sagar.mala@gov.in /h.verma@nic.in or in hard copy to :Under Secretary(Sagarmala), Ministry of Ports,Shipping and Waterways , 3rd Floor, PTI Building, 4, Parliament street, New Delhi.
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