About Article: This article contains various Compliance requirements for the Month of July, 2023 under various Statutory Laws.
Compliance Requirement Under:
1. Foreign Exchange Management Act, 1999 (FEMA) and Important Notifications
2. Income Tax Act, 1961
3. Goods & Services Tax Act, 2017 (GST) and Important Updates / Circulars
4. Other Statutory Laws and Updates
5. SEBI (Listing Obligations & Disclosure Requirements) (LODR) Regulations, 2015
6. SEBI Takeover Regulations 2011
7. SEBI (Prohibition of Insider Trading) Regulations, 2015
8. SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
9. SEBI (Buyback of Securities) Regulations, 2018
10. SEBI (Depositories and Participants) Regulations 2018) and Circulars / Notifications
11. Companies Act, 2013 (MCA/ROC Compliance) and Notifications
12. Cabinet Decisions / New Acts
13. Import Export Code (IEC) update:
- Key Compliances under FEMA / RBI
| Applicable Laws/Acts | Due Dates | Compliance Particulars | Forms / (Filing mode) |
| FEMA ACT 1999 | 15.07.2023 | Annual return on Foreign Liabilities and Assets is required to be submitted by all the India resident companies which have received FDI and/ or made overseas investment in any of the previous year(s), including current year by July 15th every year. | FLAIR System Click Here |
| FEMA ACT 1999 | Not later than 30 days from the date of issue of Capital instrument | FC-GPR is a form filed when the Indian company receives the Foreign Direct Investment and the company allots shares to a person resident outside India. | Form FC-GPR |
| FEMA ACT 1999 | With in 60 days of receipt/ remittance of funds or transfer of capital instruments whichever is earlier. | Reporting of transfer of shares and other eligible securities between residents and non-residents and vice- versa is to be made in Form FC-TRS. The onus of reporting shall be on the resident transferor/ transferee. | Form FC-TRS. |
| FEMA ACT 1999 | Within 30 days from the date of receipt of the amount of consideration. | A Limited Liability Partnership receiving amount of consideration and acquisition of profit shares is required to submit a report in the Form FDI LLP-1 | Form FDI LLP-I |
| FEMA ACT 1999 | within 60 days from the date of receipt of funds in | A Limited liability Partnership shall report disinvestment/ transfer of capital contribution or profit share between a resident and a non resident (or vice versa) | Form FDI LLP-II |
| FEMA ACT 1999 | within 30 days from the date of allotment of capital instruments | The domestic custodian shall report the issue/ transfer/ of sponsored/ unsponsored depository receipts | Downstream statement -Form DI & reporting at FIFP too |
| Types of Accounts | Capital Account and Current Account – The purpose of the capital account is to adjust the assets and liabilities of individuals outside India to persons residing in India. Thus any transaction that results in a change of the overseas assets and liabilities in India of an Indian residing outside India or transactions overseas of a person residing in India will be considered under the capital account. All other transactions fall under the category of the current account. | ||
| NRI Bank Accounts | There is option for the Non-Resident Indians to set up various bank accounts in India, like FCNR, NRE and NRO Accounts. | ||
- RBI Circulars / Notifications: June, 2023
| Sl. | Particulars of the Circulars | Link |
| 1 | Conference for the Directors on the Boards of Private Sector Banks | Click Here |
| 2 | Annual Report for the Year 2022-23 | Click here |
| 3 | Sectoral Deployment of Bank Credit – April 2023 | Click here |
| 4 | Lending and Deposit Rates of Scheduled Commercial Banks – May 2023 | Click here |
| 5 | RBI launches Survey on Computer Software and Information Technology Enabled Services (ITES) Exports: 2022-23 | Click here |
| 6 | RBI invites comments on draft Master Directions on Cyber Resilience and Digital Payment Security Controls for Payment System Operators | Click here |
| 7 | Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract | Click here |
| 8 | Premature redemption under Sovereign Gold Bond (SGB) Scheme – Redemption Price for premature redemption due on June 03, 2023 (June 04, 2023 being a Sunday) (Series X of SGB 2017-18) | Click here |
| 9 | Governor, RBI launches अंतर्दृष्टि (ANTARDRISHTI) Financial Inclusion Dashboard | Click Here |
| 10. | G20 International Conference on “Cyber Security Exercise for Banking Sector” held at Mumbai on June 5, 2023 | Click here |
| 11. | RBI updates the Alert List of unauthorised forex trading platforms | Click here |
| 12 | Statement on Developmental and Regulatory Policies | Click here |
| 13 | Monetary Policy Statement, 2023-24 Resolution of the Monetary Policy Committee (MPC) June 6-8, 2023 | Click here |
| 14 | Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract | Click here |
| 15 | Deposits with Scheduled Commercial Banks – March 2023 | Click here |
| 16 | Agency Commission for collection of indirect taxes through ICEGATE payment gateway | Click here |
| 17 | Sovereign Gold Bond (SGB) Scheme 2023-24 | Click here |
| 18 | Remittances to International Financial Services Centres (IFSCs) under the Liberalised Remittance Scheme (LRS) | Click here |
| 19 | Status of MIFOR as a Significant Benchmark | Click here |
| 20 | Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract | Click here |
| 21 | RBI Bulletin – June 2023 | Click here |
| 22 | Clarification on Banknote | Click here |
- Compliance requirement under Income Tax act, 1961
| Sl. | Compliance Particulars | Due Dates |
| 1 | Due date for deposit of Tax deducted/collected for the month of June, 2023. However, all sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan. | 07.07.2023 |
| 2. | Due date for deposit of TDS for the period April 2023 to June 2023 when Assessing Officer has permitted quarterly deposit of TDS under section 192, 194A, 194D or 194H | 07.07.2023 |
| 3 | Due date for issue of TDS Certificate for tax deducted under section 194-IA in the month of May, 2023 | 15.07.2023 |
| 4 | Due date for issue of TDS Certificate for tax deducted under section 194-IB in the month of May, 2023 | 15.07.2023 |
| 5 | Due date for issue of TDS Certificate for tax deducted under section 194M in the month of May, 2023 | 15.07.2023 |
| 6 | Due date for issue of TDS Certificate for tax deducted under section 194S in the month of May, 2023 Note: Applicable in case of specified person as mentioned under section 194S | 15.07.2023 |
| 7 | Quarterly statement in respect of foreign remittances (to be furnished by authorized dealers) in Form No. 15CC for quarter ending June, 2023 | 15.07.2023 |
| 8 | Quarterly statement of TCS deposited for the quarter ending 30 June, 2023 | 15.07.2023 |
| 9 | Upload the declarations received from recipients in Form No. 15G/15H during the quarter ending June, 2023 | 15.07.2023 |
| 10 | Due date for furnishing statement in Form no. 3BB by a stock exchange in respect of transactions in which client codes been modified after registering in the system for the month of June, 2023 | 15.07.2023 |
| 11 | Quarterly TCS certificate in respect of tax collected by any person for the quarter ending June 30, 2023 | 15.06.2023 |
| 12 | Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA for the month of June, 2023 | 30.07.2023 |
| 13 | Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IB for the month of June, 2023 | 30.07.2023 |
| 14 | Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194M for the month of June, 2023 | 30.07.2023 |
| 15 | Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194S in the month of June, 2023 Note: Applicable in case of specified person as mentioned under section 194S | 30.07.2023 |
| 16 | Quarterly statement of TDS deposited for the quarter ending June 30, 2023 | 31.07.2023 |
| 17 | Return of income for the assessment year 2023-24 for all assessee other than (a) corporate-assessee or (b) non-corporate assessee (whose books of account are required to be audited) or (c) partner of a firm whose accounts are required to be audited or the spouse of such partner if the provisions of section 5A applies or (d) an assessee who is required to furnish a report under section 92E. | 31.07.2023 |
| 18 | Quarterly return of non-deduction of tax at source by a banking company from interest on time deposit in respect of the quarter ending June 30, 2023. | 31.07.2023 |
| 19 | Statement by scientific research association, university, college or other association or Indian scientific research company as required by rules 5D, 5E and 5F (if due date of submission of return of income is July 31, 2023) | 31.07.2023 |
| 20 | Intimation in Form 10BBB by a pension fund in respect of each investment made in India for quarter ending June, 2023 | 31.07.2023 |
| 21 | Intimation in Form II by Sovereign Wealth Fund in respect of investment made in India for quarter ending June, 2023 | 31.07.2023 |
- Centre Announces 3-Month Extension For Implementing Revised TCS Rates
Increased TCS rates to apply from 1st October, 2023: The increase in TCS rates; which were to come into effect from 1st July, 2023 shall now come into effect from October 1, 2023. Source: Click Here
- Important Notifications – For the month of June – 2023:
| Sl. | Particulars of the Notification(s) | File No. / Circular No. | Link(s) |
| 1. | Condonation of delay in filing refund claim and claim of carry forward of losses under Section 119(2)(b) of the Income-tax Act, 1961 | Circular No. 7 of 2023 | Click Here |
| 2. | The Income-tax (Eighth Amendment) Rules, 2023. | Notification No. 35/2023 | Click Here |
| 3. | The Income-tax (7th Amendment) Rules, 2023 | Notification No. 34/2023 | Click Here |
| 4. | The e-Appeals Scheme, 2023 | Notification No.33/2023 | Click Here |
| 5. | Income-tax (Sixth Amendment) Rules, 2023. | Notification No. 32/2023 | Click Here |
| 6 | The Income-tax (Ninth Amendment) Rules, 2023. | Notification No. 37/2023 | Click Here |
| 7 | The e-advance rulings (Amendment) Scheme, 2023. | Notification No. 38/2023 | Click Here |
| 8 | The Income-tax (Tenth Amendment) Rules, 2023 | Notification No. 43/2023 | Click Here |
- Compliance Requirement under GST, 2017
A. Filing of GSTR –3B / GSTR 3B QRMP
a) Taxpayers having aggregate turnover > Rs. 5 Cr. in preceding FY
| Tax period | Due Date | Particulars |
| June, 2023 | 20th July, 2023 | Due Date for filling GSTR – 3B return for the month of June, 2023 for the taxpayer with Aggregate turnover exceeding INR 5 crores during previous year. |
b). Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY (Group A)
| Tax period | Due Date | Particulars | |
| June, 2023 | 22nd July, 2023 | Due Date for filling GSTR – 3B return for the month of June, 2023 for the taxpayer with Aggregate turnover upto INR 5 crores during previous year and who has opted for Quarterly filing of GSTR-3B | |
| Group A States: Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, Daman & Diu and Dadra & Nagar Haveli, Puducherry, Andaman and Nicobar Islands, Lakshadweep | |||
c). Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY (Group B)
| Tax period | Due Date | Particulars | |
| June, 2023 | 24th July, 2023 | Annual Turnover Up to INR 5 Cr in Previous FY But Opted Quarterly Filing | |
| Group B States: Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand, Odisha, Jammu and Kashmir, Ladakh, Chandigarh, Delhi | |||
B. Filing Form GSTR-1:
| Tax period | Due Date | Remarks |
| Monthly return (June, 2023) | 11.07.2023 | 1. GST Filing of returns by registered person with aggregate turnover exceeding INR 5 Crores during preceding year. 2. Registered person, with aggregate turnover of less then INR 5 Crores during preceeding year, opted for monthly filing of return under QRMP. |
C. Non Resident Tax Payers, ISD, TDS & TCS Taxpayers
| Form No. | Compliance Particulars | Timeline | Due Date |
| GSTR-5 & 5A | Non-resident ODIAR services provider file Monthly GST Return | 20th of succeeding month | 20.07.2023 |
| GSTR -6 | Every Input Service Distributor (ISD) | 13th of succeeding month | 13.07.2023 |
| GSTR -7 | Return for Tax Deducted at source to be filed by Tax Deductor | 10th of succeeding month | 10.07.2023 |
| GSTR -8 | E-Commerce operator registered under GST liable to TCS | 10th of succeeding month | 10.07.2023 |
D. GSTR – 1 QRMP monthly / Quarterly return
| Form No. | Compliance Particulars | Timeline | Due Date |
| Details of outward supply-IFF & Summary of outward supplies by taxpayers who have opted for the QRMP scheme. | GST QRMP monthly return due date for the month of April, 2022 (IFF). Applicable for taxpayers with Annual aggregate turnover up to Rs. 1.50 Crore. Summary of outward supplies by taxpayers who have opted for the QRMP scheme. | 13th of succeeding month – Monthly Quarterly Return | 13.07.2023 |
E. GST Refund:
| Form No. | Compliance Particulars | Due Date |
| RFD -10 | Refund of Tax to Certain Persons | 18 Months after the end of quarter for which refund is to be claimed |
F. Monthly Payment of GST – PMT-06:
| Compliance Particular | Due Date |
| Due Date of payment of GST for a taxpayer with Aggregate turnover up to INR 5 crores during the previous year and who has opted for Quarterly filing of return under QRMP. | 25.07.2023 |
G. Monthly Payment of GST – CMP-08:
| Compliance Particular | Due Date |
| Form GST CMP-08 is used to declare the details or summary of self-assessed tax payable by taxpayers who have opted for a composition levy. Period: April – June, 2023 | 18.07.2023 |
- GST UPDATES – June, 2023:
| Sl. | Notification Particulars | Notification No. | Link (s) |
| 1. | Advisory on Filing of Declaration In Annexure V by Goods Transport Agency (GTA) opting to pay tax under forward charge mechanism | GSTN 587 | Click Here |
| 2. | Advisory on due date extension of GST Returns for the state of Manipur | GSTN 586 | Click Here |
| 3. | Standard Operating Procedure for Scrutiny of Returns for FY 2019-20 onwards | Instruction No. 02/2023-GST | Click Here |
| 4 | E-Invoice Verifier App by GSTN – Advisory | GSTN 588 | Click Here |
| 5 | Advisory: Update on Enablement Status for Taxpayers for e-Invoicing | GSTN 591 | Click Here |
| 6 | Seeks to extend the due date for furnishing FORM GSTR-1 for April and May, 2023 for registered persons whose principal place of business is in the State of Manipur | 14/2023-Central Tax | Click Here |
| 7 | Seeks to extend the due date for furnishing FORM GSTR-3B for April and May, 2023 for registered persons whose principal place of business is in the State of Manipur. | 15/2023-Central Tax | Click Here |
| 8 | Seeks to extend the due date for furnishing FORM GSTR-7 for April and May, 2023 for registered persons whose principal place of business is in the State of Manipur. | 16/2023-Central Tax | Click Here |
| 9 | Guidelines for processing of applications for registration. | Instruction No. 03/2023-GST | Click Here |
- Compliance under Other Statutory LAws
| Applicable Laws/Acts | Timeline / Due Dates | Compliance Particulars | Forms / (Filing mode) |
| EPF (The Employees’ Provident Funds And Miscellaneous Provisions Act, 1952) | 15.07.2023 | PF Payment | ECR |
| ESIC (Employees’ State Insurance Act, 1948) | 15.07.2023 | ESIC Payment | ESI Challan |
| Contract Labour (Regulation & Abolition) Act, 1970 | Within 15 Days of commencement/ completion of contract work | Return/Notice by the Principal employer | Form VI-B |
| Contract Labour (Regulation & Abolition) Act, 1970 | Within 15 Days of commencement/ completion of contract work | Notice of commencement/ completion of contract work by the Contractor | Form VI-A |
| Payment of Gratuity Rule | Within 30 Days of applicability of the Act & any change | Notice of applicability of the Act & any change | Form A or B |
[[
- Updates TRACKER under Labour LAws – June, 2023:
| Sl. | Particulars | Link |
| 1 | New labour codes in India: What it means for workers, employers, and HR tech | Click here |
| 2 | Flexi working hours: Why Tamil Nadu’s new labour law is contested | Click here |
| 3 | EPF passbook interest not updated? EPFO has this important message for you | Click here |
| 4 | Higher EPS pension: EPFO sets 20 days deadline for field offices for validation of joint application | Click here |
| 5 | Applications for higher pensions under EPS to be assessed within 20 days of receipt: EPFO | Click here |
| 6 | EPF vs PPF vs VPF: Which One Is Most Suitable Scheme For You? | Click here |
| 7 | Does eligible employee have an exit option to get out of higher EPS pension application? | Click here |
| 8 | EPF Passbook Interest Not Updated? Don’t Worry, Here’s What EPFO Says | Click here |
| 9 | EPS higher pension: ‘Unable to submit,’ EPFO members complain on Twitter as deadline nears | Click here |
| 10 | Higher pension: EPFO issues a circular on list of documents you can submit to claim higher EPS | Click here |
5. SEBI – Securities Exchange Board of INDIA
- Compliance Requirement under SEBI (Listing Obligations and Disclosure Requirements) (LODR) Regulations, 2015
A. Quarterly Compliances:
| Sl. No. | Regulation reference (Reg.) | Compliance Particulars | Timeline / Due Date (For the Quarter Ended December, 2022) | Due Dates |
| 1 | 27(2) | Corporate Governance Report | 21 days from end of quarter | 21.07.2023 |
| 2 | 13(3) | Statement of Investor Complaints | 21 days from end of quarter | 21.07.2023 |
| 3 | 31 (1) (b) | Shareholding Pattern | 21 days from end of quarter | 21.07.2023 |
| 4 | 33 | Financial Results | 45 days/60 days from end of quarter | 14.08.2023 |
B. Half Yearly Compliances:
| Sl. No. | Regulation No. | Compliance Period (Due Date) | Due Date |
| 1. | Regulation 23(9) Related party transactions. | a) Provided further that the listed entity shall make such disclosures every six months within 15 days from the date of publication of its standalone and consolidated financial results: b) Disclosure of Related Party Transactions as per Regulation 23(9) needs to be filed on the same day on which financial results are published to stock exchange. | a) within 15 days from the date of publication b) disclosures every six months on the date of publication of its standalone and consolidated financial results (w.e.f. 01.04.2023) |
C. Regular / Annual Compliances:
| REG NO | REGULATION NO | PARTICULARS | TIMELINE |
| 47 Advertisements in Newspapers. | 47 (3) Advertisements in Newspapers | Financial results at 47 clause (b) of sub-regulation (1), shall be published within 48 hours of conclusion of the meeting of board of directors at which the financial results were approved. | 48 HOURS |
| 46 Website | 46(2)(s) | The listed entity shall disseminate the following information under a separate section on its website separate audited financial statements of each subsidiary of the listed entity in respect of a relevant financial year, uploaded at least 21 days prior to the date of the annual general meeting which has been called to inter alia consider accounts of that FY.] | 21 days prior 1 days prior to the date of AGM |
| Annual Disclosure requirements for large entities | Circular No. SEBI/HO/DDHS/CIR/P/2018/144 | Annual Disclosure to be made by an entity identified as a Large Corporates (To be submitted to the Stock Exchange(s) within 45 days of the end of the FY) (Applicable for FY 2020 and 2021) | Within 45 days of the end of the FY |
D. Other Quarterly compliance which included half year compliance except FR (Financial Results)
| Reg No | Regulation No | Particulars | Timeline |
| Intimation | Reg 29 read with Reg 33 | intimation regarding item specified in clause 29(1) (a) to be discussed at the meeting of board of directors shall be given at least five days in advance (excluding the date of the intimation and date of the meeting), and such intimation shall include the date of such meeting of board of directors | at least 5 working days in advance, excluding the date of the intimation and date of the meeting |
| Intimations and Disclosure of events or information to Stock Exchanges. | 87B: Intimations and Disclosure of events or information to Stock Exchanges. READ WITH PART E OF Schedule III | The listed entity shall first disclose to stock exchange(s) of all events or information, as specified in Part E of Schedule III, as soon as reasonably possible but not later than twenty four hours from occurrence of the event or information: | 24 HOURS |
| Valuation, Rating and NAV disclosure. | 87C(1) (iii) | An issuer whose security receipts are listed on a stock exchange shall ensure that: the net asset value is calculated on the basis of such independent valuation and the same is declared by the asset reconstruction company within 15 days of the end of quarter. | 15 Days |
| – Certificate from Practicing Company Secretary. . | Regulation 40 (9) (Regulation 40 (10)- certificate mentioned at sub-regulation (9), shall be filed with the stock exchange(s) simultaneously.) | The listed entity shall ensure that the share transfer agent and/or the in-house share transfer facility, as the case may be, produces a certificate from a practicing company secretary within 30 days from the end of the financial year, certifying that all certificates have been issued within thirty days of the date of lodgement for transfer, subdivision, consolidation, renewal, exchange or endorsement of calls/ allotment monies. | Within 30 days from the end of the financial year. |
| Indian Depository Receipt holding pattern & Shareholding details. | 69(1) | The listed entity shall file with the stock exchange the Indian Depository Receipt holding pattern on a quarterly basis within fifteen days of end of the quarter in the format specified by the Board. | 15 days from end of each quarter |
E. Event based Compliances
| Reg No | Regulation No | Particulars | Timeline |
| 30 Disclosure of events or information. | 30(6) AND Part A of Schedule III | The listed entity shall first disclose to stock exchange(s) of all events, as specified in Part A of Schedule III, or information as soon as reasonably possible and not later than twenty four hours from the occurrence of event or information | 24 HOURS |
| 30 Disclosure of events or information. | 30(6) AND sub-para 4 of Para A of Part A of Schedule III | The listed entity shall disclose to the Exchange(s), within 30 minutes of the closure of the meeting held to consider the following: a) dividends and/or cash bonuses recommended or declared or the decision to pass any dividend and the date on which dividend shall be paid/dispatched; b) any cancellation of dividend with reasons thereof; c) the decision on buyback of securities; d) the decision with respect to fund raising proposed to be undertaken e) increase in capital by issue of bonus shares through capitalization including the date on which such bonus shares shall be credited/dispatched; f) reissue of forfeited shares or securities, or the issue of shares or securities held in reserve for future issue or the creation in any form or manner of new shares or securities or any other rights, privileges or benefits to subscribe to; g) short particulars of any other alterations of capital, including calls; h) financial results; i) decision on voluntary delisting by the listed entity from stock exchange(s). | 30 MINUTES |
| 31A: Conditions for re-classification of any person as promoter / public | 31A(8) | The following events shall deemed to be material events and shall be disclosed by the listed entity to the stock exchanges as soon as reasonably possible and not later than twenty four hours from the occurrence of the event: (a) receipt of request for re-classification by the listed entity from the promoter(s) seeking re-classification; (b) minutes of the board meeting considering such request which would include the views of the board on the request; (c) submission of application for re-classification of status as promoter/public by the listed entity to the stock exchanges; (d) decision of the stock exchanges on such application as communicated to the listed entity; | 24 HOURS |
| 34 Annual Report. | 34(1)(b) | In the event of any changes to the annual report, the revised copy along with the details of and explanation for the changes shall be sent not later than 48 hours after the annual general meeting.] | 48 HOURS |
| 44 Meetings of shareholders and voting | 44(3) | The listed entity shall submit to the stock exchange, within forty eight hours of conclusion of its General Meeting, details regarding the voting results in the format specified by the Board. | 48 HOURS |
| 47 Advertisements in Newspapers. | 47 (3) Advertisements in Newspapers | The listed entity shall publish the information specified in 47(1) in the newspaper simultaneously with the submission of the same to the stock exchange(s). The same is reproduced below 47(1) (a) notice of meeting of the board of directors where financial results shall be discussed (c )statements of deviation(s) or variation(s) as specified in sub-regulation (1) of regulation 32 on quarterly basis, after review by audit committee and its explanation in directors report in annual report; (d) notices given to shareholders by advertisement | Simultaneously |
| – | SCHEDULE III PART PART A 7(A) | resignation of the auditor of the listed entity, detailed reasons for resignation of auditor, as given by the said auditor, shall be disclosed by the listed entities to the stock exchanges as soon as possible but not later than twenty four hours of receipt of such reasons from the auditor | 24 HOURS |
| – | SCHEDULE III PART PART A 7(B) | In case of resignation of an independent director of the listed entity, within seven days from the date of resignation, the following disclosures shall be made to the stock exchanges by the listed entities: i. Detailed reasons for the resignation of independent directors as given by the said director shall be disclosed by the listed entities to the stock exchanges. ii. The independent director shall, along with the detailed reasons, also provide a confirmation that there is no other material reasons other than those provided. iii. The confirmation as provided by the independent director above shall also be disclosed by the listed entities to the stock exchanges along with the detailed reasons as specified in sub-clause (i) above.] | 7 days from the date of resignation |
| 7 Share Transfer Agent. | Reg 7(4) & (5) Share Transfer Agent. | The listed entity shall intimate any change or appointment of a new share transfer agent, to the stock exchange(s) within seven days of entering into the agreement. | 7 DAYS |
| 29 | Reg 29(1) | The intimation required under 29 (1), shall be given at least two working days in advance, excluding the date of the intimation and date of the meeting Reg 29(1) is reproduced below: (b) proposal for buyback of securities ; (c) proposal for voluntary delisting by the listed entity from the stock exchange(s); (d) fund raising by way of further public offer, rights issue, American Depository Receipts/Global Depository Receipts/Foreign Currency Convertible Bonds, qualified institutions placement, debt issue, preferential issue or any other method and for determination of issue price: Provided that intimation shall also be given in case of any annual general meeting or extraordinary general meeting or postal ballot that is proposed to be held for obtaining shareholder approval for further fund raising indicating type of issuance. (e) declaration/ recommendation of dividend, issue of convertible securities including convertible debentures or of debentures carrying a right to subscribe to equity shares or the passing over of dividend. (f) the proposal for declaration of bonus securities where such proposal is communicated to the board of directors of the listed entity as part of the agenda papers: | at least 2 working days in advance, excluding the date of the intimation and date of the meeting |
| 31 Holding of specified securities and shareholding pattern. | Reg 31 (1)(a) | The listed entity shall submit to the stock exchange(s) a statement showing holding of securities and shareholding pattern separately for each class of securities, in the format specified by the Board from time to time – one day prior to listing of its securities on the stock exchange(s); | 1 day prior to listing of its securities on the stock exchange(s |
| 31 | Reg 31 (1 (c) | within ten days of any capital restructuring of the listed entity resulting in a change exceeding two per cent of the total paid-up share capital: | within 10 days of any capital restructuring |
| 31A Conditions for re-classification of any person as promoter / public | Reg 31A | an application for re-classification of a promoter/ person belonging to promoter group to public to the stock exchanges has to be made by the listed entity consequent to the following procedures and not later than thirty days from the date of approval by shareholders in general meeting | 30 days from the date of approval by shareholders in general meeting |
| 37 Draft Scheme of Arrangement & Scheme of Arrangement. | 37(1) | Draft Scheme of Arrangement & Scheme of Arrangement before for obtaining Observation Letter or No-objection letter, before filing such scheme with any Court or Tribunal, in terms of requirements specified by the Board or stock exchange(s) from time to time. | Before filling the same with any court or tribunal |
| 39 Issuance of Certificates or Receipts/Letters/Advices for securities and dealing with unclaimed securities. | 39(2) | The listed entity shall issue certificates or receipts or advices, as applicable, of subdivision, split, consolidation, renewal, exchanges, endorsements, issuance of duplicates thereof or issuance of new certificates or receipts or advices, as applicable, in cases of loss or old decrepit or worn out certificates or receipts or advices, as applicable within a period of thirty days from the date of such lodgement. | 30 Days |
| 39 Issuance of Certificates or Receipts/Letters/Advices for securities and dealing with unclaimed securities | 39(3) | The listed entity shall submit information regarding loss of share certificates and issue of the duplicate certificates, to the stock exchange within two days of its getting information. | 2 days of its getting information. |
| 40 Transfer or transmission or transposition of securities. | 40 (3) | On receipt of proper documentation, the listed entity shall register transfers of its securities in the name of the transferee(s) and issue certificates or receipts or advices, as applicable, of transfers; or issue any valid objection or intimation to the transferee or transferor, as the case may be, within a period of fifteen days from the date of such receipt of request for transfer | 15 days |
| 40 Transfer or transmission or transposition of securities. | 40 (3) | the listed entity shall ensure that transmission requests are processed for securities held in dematerialized mode within seven days after receipt of the specified documents: | 7 Days |
| 40 Transfer or transmission or transposition of securities. | 40 (3) | the listed entity shall ensure that transmission requests are processed for securities held in physical mode within twenty one days after receipt of the specified documents: | 21 Days |
| – | SCHEDULE VII: TRANSFER OF SECURITIES (PART B (1)) | In case of minor differences in the signature of the transferor(s), the listed entity shall follow the following procedure for registering transfer of securities: (a) the listed entity shall promptly send to the first transferor(s), via speed post an intimation of the aforesaid defect in the documents and inform the transferor(s) that objection, supported by valid proof, is not lodged by the transferor(s) with the listed entity within fifteen days of receipt of the listed entity’s letter, then the securities shall be transferred | 15 Days |
| 42 Record Date or Date of closure of transfer books. | 42(2) | The listed entity shall give notice in advance of atleast seven working days (excluding the date of intimation and the record date) to stock exchange(s) of record date specifying the purpose of the record date: | 7 working days advance intimation excluding the date of the intimation and date of the meeting |
| 42 Record Date or Date of closure of transfer books. | 42(2) | in the case of rights issues, the listed entity shall give notice in advance of atleast three working days (excluding the date of intimation and the record date).] | 3 working days advance intimation excluding the date of the intimation and date of the meeting |
| 42 Record Date or Date of closure of transfer books. | 42(3) | The listed entity shall recommend or declare all dividend and/or cash bonuses at least five working days (excluding the date of intimation and the record date) before the record date fixed for the purpose. | 5 working days advance intimation excluding the date of the intimation and date of the meeting |
| 46 Website | 46 (3)(b) | The listed entity shall update any change in the content of its website within two working days from the date of such change in content. | 2 working days |
| 50 Intimation to stock exchange(s). | 50(1) | The listed entity shall give prior intimation to the stock exchange(s) at least eleven working days before the date on and from which the interest on debentures and bonds, and redemption amount of redeemable shares or of debentures and bonds shall be payable. | 11 working days |
| 50 Intimation to stock exchange(s). | 50(3) | The listed entity shall intimate to the stock exchange(s), at least two working days in advance, excluding the date of the intimation and date of the meeting, regarding the meeting of its board of directors, at which the recommendation or declaration of issue of non-convertible debt securities or any other matter affecting the rights or interests of holders of non- convertible debt securities or non – convertible redeemable preference shares is proposed to be considered. | 2 working days advance intimation excluding the date of the intimation and date of the meeting |
| 52 Financial Results. | 52 (4) & (5) | The listed entity shall, within seven working days from the date of submission of the information required under sub- regulation (4), submit to stock exchange(s), a certificate signed by debenture trustee that it has taken note of the contents | 7 working days |
| 52 Financial Results. | 52 (4) & (8) | The listed entity shall, within two calendar days of the conclusion of the meeting of the board of directors, publish the financial results and statement referred to in reg 52 (4), in at least one English national daily newspaper circulating in the whole or substantially the whole of India. | two calendar days of the conclusion of the meeting |
| 57 Other submissions to stock exchange(s). | 57(1) | The listed entity shall submit a certificate to the stock exchange within two days of the interest or principal or both becoming due that it has made timely payment of interests or principal obligations or both in respect of the non convertible debt securities | within 2 days |
| 60 Record Date | 60(2) | The listed entity shall give notice in advance of at least seven working days (excluding the date of intimation and the record date) to the recognised stock exchange(s) of the record date or of as many days as the stock exchange(s) may agree to or require specifying the purpose of the record date. | 7 working days advance intimation excluding the date of the intimation and date of the meeting |
| 78 Record Date. | 78(2) | The listed entity shall give notice in advance of at least four working days to the recognised stock exchange(s) of record date specifying the purpose of the record date | notice in advance of at least 4 working days |
| 82 Intimation and filings with stock exchange(s). | 82(2) | The listed entity shall intimate to the stock exchange(s), at least two working days in advance, excluding the date of the intimation and date of the meeting, regarding the meeting of its board of trustees, at which the recommendation or declaration of issue of securitized debt instruments or any other matter affecting the rights or interests of holders of securitized debt instruments is proposed to be considered. | 2 working days in advance, excluding the date of the intimation and date of the meeting, |
| 82 Intimation and filings with stock exchange(s). | 82(3) | The listed entity shall submit such statements, reports or information including financial information pertaining to Schemes to stock exchange within seven days from the end of the month/ actual payment date, either by itself or through the servicer, on a monthly basis in the format as specified by the Board from time to time: Provided that where periodicity of the receivables is not monthly, reporting shall be made for the relevant periods. | within 7 days |
| 87 Record Date. | 87(2) | The listed entity shall give notice in advance of atleast seven working days (excluding the date of intimation and the record date) to the recognised stock exchange(s) of the record date or of as many days as the Stock Exchange may agree to or require specifying the purpose of the record date | 7 working days advance intimation excluding the date of the intimation and date of the meeting |
| 87E Record Date. | 87E(2) | The listed entity shall give notice in advance of at least seven working days (excluding the date of intimation and the record date) to the stock exchange(s) of the record date or of as many days as the stock exchange may agree to or require specifying the purpose of the record date. |
6. SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
Securities and Exchange Board of India (SEBI) vide notification / Circular No. SEBI/HO/CFD/DCR1/CIR/P/2020/49 issued and publish dated 27th March 2020, has published Relaxation from compliance with certain provisions of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 due to the COVID-19 pandemic”.
| Sl. No. | Regulation No. | Compliance Particular | Compliance Period (Due Date) |
| 1 | Regulation 30(1) | Every person, who together with persons acting in concert with him, holds shares or voting rights entitling him to exercise 25% or more of the voting rights in a target company, shall disclose their aggregate shareholding and voting rights as of the 31st day of March, in such target company in such form as may be specified. | Omitted through introduction of SEBI (Substantial Acquisition of Shares and Takeovers) (Second Amendment) Regulations, 2021 Applicable w.e.f. 01.04.2022 |
| 2 | Regulation 30(2) | The promoter of every target company shall together with persons acting in concert with him, disclose their aggregate shareholding and voting rights as of the thirty-first day of March, in such target company in such form as may | |
| 3. | Regulation 31(1) read with Regulation 28(3) of Takeover Regulations AUGUST 7, 2019 CIRCULAR https://www.sebi.gov.in/legal/circulars/aug-2019/disclosure-of-reasons-for-encumbrance-by-promoter-of-listed-companies_43837.html | The promoter of every listed company shall specifically disclose detailed reasons for encumbrance if the combined encumbrance by the promoter along with PACs with him equals or exceeds: a) 50% of their shareholding in the company; or b) 20% of the total share capital of the company. | within 2 (two) working days (Provision Insertion: “Provided that the aforesaid disclosure requirement shall not be applicable where such encumbrance is undertaken in a depository”) |
| 4. | Regulation 31(4) | Disclosure of encumbered shares | Promoter of every target company shall together with persons acting in concert with him, disclose their aggregate shareholding and voting rights as of the 31st March, in such target company in such form as may be specified. |
7. SEBI (Prohibition of Insider Trading) Regulations, 2015
| Sl. No. | Regulation No. | Compliance Particular | Compliance Period (Due Date) |
| 1 | Regulation 7(2) “Continual Disclosures” | Every promoter, employee and director of every company shall disclose to the company the number of such securities acquired or disposed of within two trading days of such transaction if the value of the securities traded, whether in one transaction or a series of transactions over any calendar quarter, aggregates to a traded value in excess of ten lakh rupees (10,00,000/-) or such other value as may be specified; | Every company shall notify; within two trading days of receipt of the disclosure or from becoming aware of such information |
8. SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
| Sl. No. | Regulation No. | Compliance Particular | Compliance Period (Due Date) |
| 1 | Schedule XIX – Para (2) of ICDR Read with Reg 108 of SEBI LODR | “The issuer shall make an application for listing from the date of allotment, within such period as may be specified by the Board from time to time, to one or more recognized stock exchange(s)”. In regard to above, it is specified that Issuer shall make an application to the exchange/s for listing in case of further issue of equity shares from the date of allotment within 20 days (unless otherwise specified). | Within 20 days from the date of allotment |
| 2 | Regulation 162 | The tenure of the convertible securities of the issuer shall not exceed eighteen months from the date of their allotment. | Within 18 months from date of allotment |
| 3 | SEBI CIRCULAR Aug 19, 2019 (Click Here) | Application for trading approval to the stock exchange Listed entities shall make an application for trading approval to the stock exchange/s within 7 working days from the date of grant of listing approval by the stock exchange/s. | Within 7 working days from grant of date of listing approval |
| 4 | Regulation 76 Application for rights issue | The issuer along with lead managers and other parties related to the issue shall constitute an optional mechanism (non-cash mode only) to accept the applications of the shareholders to apply to rights issue subject to ensuring that no third-party payments shall be allowed in respect of any application. | |
| 5. | Regulation 77 Service of Documents | In case if the company fails to adhere to modes of dispatch through registered post or speed post or courier services due to Covid-19 conditions it will not be treated as non-compliance during the said period. The issuers shall publish required & necessary documents on the websites of the company, registrar, stock exchanges and the lead managers to the rights issue. | |
| 6 | Regulation 84 Advertisement | Issuer has the flexibility to publish the advertisement in additional newspapers above those required in Regulation 84. The advertisement should also be made available on: A. Website of the Issuer, Registrar, Lead Managers, and Stock Exchanges. B. Television channels, radio, the internet, etc. to spread information related to the process. | |
9. SEBI (Buyback of Securities) Regulations, 2018 (Buyback Regulations)
| Sl. | Regulation No. | Compliance Particular | Compliance Period (Due Date) |
| 1 | Regulation 11 and 24(iv) | Extinguishment of equity shares in connection with Buyback The particulars of the security certificates extinguished and destroyed shall be furnished by the company to the stock exchanges where the shares or other specified securities of the company are listed within seven days of extinguishment and destruction of the certificates. | 7 days of extinguishment and destruction of the certificates |
10. SEBI (Depositories and Participants) Regulations 2018)
| Sl. No. | Particulars | Due Date |
| 1. | Regulation 76 -Reconciliation of Shares and Capital Audit | Within 30 days from end of quarter. |
| 2. | Regulation 74 (5): Processing of demat requests form by Issuer/RTAs – Certificate Received from Registrar | Within 15 days from the end of each quarter. |
- SEBI Circulars Tracker: June, 2023
| Sl. | Particulars | Link |
| 1. | Updates for Implementation of Section 51A of UAPA, 1967: Updates to UNSC’s 1267/ 1989 ISIL (Da’esh) & Al-Qaida Sanctions List: Amendment in 1 entry | Click Here |
| 2. | Takeovers – Servoteach Industries Limited | Click Here |
| 3. | Enquiry Order in respect of Investment Visor- Prop. Praveen Verma | Click Here |
| 4. | Online processing of investor service requests and complaints by RTAs | Click Here |
| 5. | Participation of Mutual funds in repo transactions on Corporate Debt Securities | Click Here |
| 6. | Upstreaming of clients’ funds by Stock Brokers (SBs) / Clearing Members (CMs) to Clearing Corporations (CCs) | Click Here |
| 7. | Informal Guidance Letter to Vidli Restaurants Ltd. with regard to Regulation 10(1)(a)(i) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (Takeover Regulations). | Click Here |
| 8. | SEBI Bulletin – June 2023 [MSExcel] | Click Here |
| 9. | Commencement notification for Execution Only Platforms under the Securities and Exchange Board of India (Stock Brokers) Regulations, 1992 | Click Here |
| 10. | Standardised approach to valuation of investment portfolio of Alternative Investment Funds (AIFs) | Click Here |
| 11. | Modalities for launching Liquidation Scheme and for distributing the investments of Alternative Investment Funds (AIFs) in-specie | Click Here |
| 12. | Issuance of units of AIFs in dematerialised form | Click Here |
| 13. | Interim Order-cum-Show Cause Notice in case of market manipulation of shares of five small cap companies through circulation of Bulk SMSs to induce Investors | Click Here |
| 14. | Master Circular for Issue of Capital and Disclosure Requirements | Click Here |
| 15. | Master Circular on Scheme of Arrangement | Click Here |
| 16 | Adherence to provisions of regulation 51A of SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 by Online Bond Platform Providers on product offerings on Online Bond Platforms | Click Here |
| 17 | Amendment to Guidelines on Anti-Money Laundering (AML) Standards and Combating the Financing of Terrorism (CFT) /Obligations of Securities Market Intermediaries under the Prevention of Money Laundering Act, 2002 and Rules framed there under | Click Here |
| 18 | Securities and Exchange Board of India (Alternative Investment Funds) (Second Amendment) Regulations, 2023 | Click Here |
| 19 | Master Circular for Investment Advisers | Click Here |
| 20 | Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 [Last amended on June 14, 2023] | Click Here |
| 21 | Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2023 | Click Here |
| 22 | Amendment to Circular on issue of Certified copies of Orders and Circulars | Click Here |
| 23 | Corrigendum to Circular on Participation of Mutual funds in repo transactions on Corporate Debt Securities dated June 8, 2023 | Click Here |
| 24 | Comprehensive guidelines for Investor Protection Fund and Investor Services Fund at Stock Exchanges and Depositories | Click Here |
| 25 | Consultation Paper on framework for mandating additional disclosures from Foreign Portfolio Investors (FPIs) that fulfil certain objective criteria, to 1) guard against possible circumvention of Minimum Public Shareholding (“MPS”), and 2) to guard against possible misuse of the FPI route to circumvent the requirements of Press Note 3 (“PN3”) | Click Here |
| 26 | Request for Informal Guidance by way of an ‘interpretative letter’ under Securities and Exchange Board of India (Informal Guidance) Scheme, 2003 regarding the applicability of Business Responsibility and Sustainability Reporting (BRSR) | Click Here |
| 27 | Informal Guidance request received from NTPC Limited with respect to Related Party Transactions (RPTs) under Regulation 23 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘LODR Regulations’). | Click Here |
| 28 | Extension of timeline for submission of public comments on the consultation paper on Institutional Mechanism for Asset Management Companies for deterrence of possible market abuse and fraudulent transactions | Click Here |
| 29 | Extension of timeline for submission of public comments on the consultation paper on Review of Total Expense Ratio charged by Asset Management Companies (AMCs) to unitholders of schemes of Mutual Funds to facilitate greater transparency and accrual of interest of economies of scale to investors | Click Here |
| 30 | Master Circular on Electronic Gold Receipts (EGR) | Click Here |
| 31 | Transactions in corporate bonds through Request for Quote platform by Stock Brokers (SBs) | Click Here |
| 32 | Adjudication order in respect of Manish Himatbhai Lakkad in the matter of dealings in illiquid stock options at BSE | Click Here |
11. Compliance Requirement UNDER Companies Act, 2013 and Rules made thereunder;
| Applicable Laws/Acts | Due Dates | Compliance Particulars | Forms / Filing mode |
| Companies Act, 2013 | Within 180 Days From The Date Of Incorporation Of The Company (one time compliance only) | As per Section 10 A (Commencement of Business) of the Companies Act, 2013, inserted vide the Companies (Amendment) Ordinance, 2018 w.e.f. 2nd November, 2018, a Company Incorporated after the ordinance and having share capital shall not commence its business or exercise any borrowing powers unless a declaration is filed by the Director within 180 days from the date of Incorporation of the Company with the ROC. | MCA E- Form INC 20A (one time compliance) |
| Companies Act, 2013 | First declaration within 90 days from the date of notification Dt. 08.02.2019 | A person having Significant beneficial owner shall file a declaration to the reporting company http://www.mca.gov.in/Ministry/pdf/CompaniesOwnersAmendmentRules_08020219.pdf i.e. within 90 days of the commencement of the Companies (Significant Beneficial Owners) Amendment Rules, 2019 i.e. 08.02.2019 In case Subsequent Acquisition of the title of Significant Beneficial Owner / Any Change therein a declaration in Form No. BEN-1 required to be filed to the reporting company, within 30 days of acquiring such significant beneficial ownership or any change therein. | Form BEN-1 Draft Format available at LINK |
| Companies Act, 2013 | Within 15 days of appointment of an auditor. | The Ministry in its General Circular No. 12/2018 dated 13th December, 2018 clarified that filing of Form NFRA-1 is applicable only for Bodies Corporate and ruled out filing by Companies as defined under sub-section (20) of Section 2 the Act. | E – Form NFRA -1 |
| Companies Act, 2013 | Within 30 days of the board meeting | Filing of resolutions with the ROC regarding Board Report and Annual Accounts. The details of the resolutions passed should be filed. | MGT-14 (Filing of resolution with MCA) |
| Companies Act, 2013 | One Time compliances | Registration of Entities for undertaking CSR activities – Trust/ Society/ Section 8 Company need to file before Acceptance of Donation as CSR w.e.f. 01st April 2021. | E-Form CSR-1 |
| Companies Act, 2013 | 30th April (for Oct.2022 to March 2023) | Pursuant to Order dated 22 January, 2019 issued under Section 405 of the Companies Act, 2013, specified companies shall submit a half yearly return to MCA in respect of outstanding payments to Micro or Small Enterprises exceeding 45 days. | MSME Form 1 |
| Companies Act, 2013 | Annual Compliance (file on or after 01.04.2023) | Last date for filing DIR-3 KYC for Financial year 2022-23 is 30th September, 2023. For Every DIN / DPIN Holders. Penalty after due date is Rs. 5000/-(one time) | DIR – 3 KYC / DIR 3 Web- KYC |
| Companies Act, 2013 | Within 60 (sixty) days from the conclusion of each half year. | Reconciliation of Share Capital Audit Report (Half-yearly) Pursuant to sub-rule Rule 9A (8) of Companies (Prospectus and Allotment of Securities) Rules, 2014 | E-Form PAS – 6 (please file with penalty after due date) |
| Companies Act, 2013 | 30th June, 2022 Extended till 31.07.2023 | Every company must file DPT 3 for outstanding loans annually. The Companies (Acceptance of Deposits) Amendment Rules, 2019. | E-Form DPT – 3 |
| Companies Act, 2013 | within a period of 60 days after the holding of AGM | IEPF Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2019 Statement of unclaimed and unpaid amounts. This e-form shall be filed within a period of 60 days after the holding of AGM or the date on which it should have been held as per the provisions of section 96 of the Act, whichever is earlier. | IEPF -2 |
- Important Updates – June, 2023
| Sl. | Particulars of the Circulars | Link |
| 1 | LLP (Amendment) Rules, 2023 | Click Here |
| 2 | Companies (Accounts) second Amendment Rules, 2023 | Click Here |
| 3 | Stakeholders please note excel file download and upload functionality has been enabled in Form 11 LLP in which all the existing data of the Partners and Designated Partners of the LLP will get pre-filled. Stakeholders are requested to read the instruction kit before filing the form. | Click Here |
| 4 | Stakeholders please note that in order to provide hassle-free filing experience of Form 3 LLP, excel download and upload functionality has been provided in the form in which all the existing data of the Partners and Designated Partners of the LLP will get pre-filled. Stakeholders are requested to read the instruction kit before filing the form | Click Here |
| 5 | Stakeholders please note excel file download and upload functionality has been enabled in Form 11 LLP in which all the existing data of the Partners and Designated Partners of the LLP will get pre-filled. Stakeholders are requested to read the instruction kit before filing the form | Click Here |
| 6 | Stakeholder may please note that last date for filing of DPT-3 form for the F.Y. 2022-23 (without paying additional fee) is 30th June 2023. Kindly complete your filing without postponing it to the last day | Click Here |
| 7 | Filing Steps and FAQs of Form 11 LLP | Click Here |
| 8 | Revised Filing Steps and FAQs of Form 3 LLP | Click Here |
12. Cabinet Decisions / New Acts
| Sl. | Particulars | Link |
| 1 | Chairman of the National Level Committee for drafting New National Cooperation Policy document Shri Suresh Prabhu, makes a presentation to Union Home Minister and Cooperation Minister Shri Amit Shah in New Delhi | Click here |
| 2 | Union Cabinet approves continuation of Central Sector Scheme of ‘Exploration of Coal and Lignite Scheme’ | Click here |
| 3 | Shri Sarbananda Sonowal launches ‘SAGAR SAMRIDDHI’ to bring transparency & efficiency | Click here |
| 4 | Cabinet announces hike in MSP for kharif crops in 5% to 10% range | Click here |
| 5 | Union cabinet approves Huda City Centre-Cyber City metro project in Gurgaon | Click here |
| 6 | Andhra Pradesh: CM Jagan directs officials to implement cabinet decisions on employee benefits | Click here |
| 7 | MeitY invites applications for incentives under PLI 2.0 for IT Hardware | Click here |
| 8 | Cabinet approves establishment of a Regional Office of the Universal Postal Union (UPU) in New Delhi, India by entering into an Agreement with UPU | Click here |
| 9 | Cabinet approves Constitution and Empowerment of an Inter-Ministerial Committee (IMC) for Facilitation of “World’s Largest Grain Storage Plan in Cooperative Sector” | Click here |
| 10 | Cabinet approves City Investments to Innovate, Integrate and Sustain 2.0 (CITIIS 2.0) from 2023 to 2027 | Click here |
13. Import Export Code (IEC) update:
IEC stands for Importer-Exporter Code which is key business identification number and is mandatory for export from India or Import to India.
The Director-General of Foreign Trade (DGFT) through Notification No. 58/2015-2020, dated 12th February, 2021 has directed that all Import Export Code (IEC) holders are now legally required to update their IEC details every year from April to June online, even if there are no changes. An IEC shall be deactivated, if it is not updated within the prescribed time. IEC so de-activated may be activated, on its successful updation. An IEC may be also be flagged for scrutiny. IEC holder(s) are required to know that any risks flagged by the system is timely addressed; failing which the IEC shall be deactivated.
- IEC holders has to update IEC code annually between the period of April-June
- Last due date to update IEC: 30th June, 2023
Importers will not be allowed to import commodities if they do not have the Import Export Code, and exporters will not be able to claim export benefits from the Director General of Foreign Trade unless they have an Import Export Code.
————————————————————————————————————-
This Calendar / Compliance Tracker is updated till 30th June, 2023 with all Laws / Regulations and their respective amendments.
———————————————-THE END—————————————————-
Disclaimer: Every effort has been made to avoid errors or omissions in this material. In spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition. In no event the author shall be liable for any direct, indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information. Many sources have been considered including newspapers (ET, BS & HT etc.).
