Corporate Compliance Calendar For The Month of August, 2023 contains Compliance Requirement Under Income Tax Act, 1961, Goods & Services Tax Act, 2017 (GST), Other Statutory Laws, Foreign Exchange Management Act, 1999 (FEMA), SEBI (Listing Obligations And Disclosure Requirements) (LODR) Regulations, 2015, SEBI (Depositories and Participants) Regulations 2018), SEBI Takeover Regulations 2011, SEBI (Prohibition of Insider Trading) Regulations, 2015, SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, SEBI (Buyback of Securities) Regulations, 2018, Companies Act, 2013 (MCA/ROC and LLP Compliance), Due dates of LLP Return Filing, Due dates of ROC Return Filings, Mutual Fund related updates, Insolvency and Bankruptcy Board of India (IBBI) Updates, NCLT & NCLAT Updates, MSME Key Updates, Competition Commission of India and Investor Education and Protection Fund.
About Article: This article contains various Compliance requirements for the Month of August, 2023 under various Statutory Laws. Compliance means “adhering to rules and regulations.” Compliance is a continuous process of following laws, policies, and regulations, rules to meet all the necessary governance requirements without any failure.
If you think compliance is expensive, try non‐ compliance”
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. Companies Act, 2013 (MCA/ROC Compliance) and Notifications
- 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: July, 2023
| Sl. | Particulars of the Circulars | Link |
| 1 | Inclusion of “NongHyup Bank” in the Second Schedule of the Reserve Bank of India Act, 1934 | Click Here |
| 2 | RBI Bulletin – July 2023 | Click here |
| 3 | Extension of validity of Directions under Section 35A read with section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) – National Urban Co-operative Bank Ltd., Bahraich (U.P.) | Click here |
| 4 | Launching of 38th Round of Quarterly Services and Infrastructure Outlook Survey (SIOS) Q2:2023-24 | Click here |
| 5 | Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract | Click here |
| 6 | Premature redemption under Sovereign Gold Bond (SGB) Scheme – Redemption Price for premature redemption due on July 28, 2023 (Series II of SGB 2017-18) | Click here |
| 7 | Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract | Click Here |
| 8 | Reserve Money for the week ended July 07, 2023 and Money Supply for the fortnight ended June 30, 2023 | Click here |
| 9 | Overseas Direct Investment for June 2023 | Click here |
| 10. | 11 NBFCs surrender their Certificate of Registration to RBI | Click here |
| 11. | Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract | Click here |
| 12 | Reserve Bank of India and Central Bank of the UAE sign two MoUs to (i) establish a Framework to Promote the Use of Local Currencies for Cross-border Transactions and (ii) cooperation for interlinking their payment and messaging systems | Click here |
| 13 | Master Direction on Minimum Capital Requirements for Operational Risk | Click Here |
| 14 | Implementation of Section 12A of the Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act, 2005: Designated List (Consolidated) | Click here |
| 15 | RBI releases the Financial Stability Report, June 2023 | Click here |
| 16 | Sectoral Deployment of Bank Credit – May 2023 | Click here |
| 17 | RBI launches the July 2023 round of the Inflation Expectations Survey of Households | Click here |
| 18 | Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract | Click here |
| 19 | Withdrawal of ₹2000 Denomination Banknotes – Status | Click here |
| 20 | RBI Working Paper No. 07/2023: Regime-Dependent Determinants of the Uncollateralised Overnight Rate: The Interplay of Operating Procedure and Market Microstructure | 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 July, 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 | 07.08.2023 |
| 2. | Due date for issue of TDS Certificate for tax deducted under section 194-IA in the month of June, 2023 | 14.08.2023 |
| 3 | Due date for issue of TDS Certificate for tax deducted under section 194-IB in the month of June, 2023 | 14.08.2023 |
| 4 | Due date for issue of TDS Certificate for tax deducted under section 194M in the month of June, 2023 | 14.08.2023 |
| 5 | Due date for issue of TDS Certificate for tax deducted under section 194S in the month of June, 2023 Note: Applicable in case of specified person as mentioned under section 194S | 14.08.2023 |
| 6 | Due date for furnishing of Form 24G by an office of the Government where TDS/TCS for the month of July, 2023 has been paid without the production of a challan | 15.08.2023 |
| 7 | 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 July, 2023 | 15.08.2023 |
| 8 | Quarterly TDS certificate (in respect of tax deducted for payments other than salary) for the quarter ending June 30, 2023 Note: Due to extension of due date of TDS statement vide Circular no. 9/2023, dated 28-06-2023, the revised due date for furnishing TDS certificate shall be October 15, 2023 | 15.08.2023 |
| 9 | Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA for the month of July, 2023 | 30.08.2023 |
| 10 | Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194M in the month of July, 2023 | 30.08.2023 |
| 11 | Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IB in the month of July, 2023 | 30.08.2023 |
| 12 | Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194S in the month of July, 2023 Note: Applicable in case of specified person as mentioned under section 194S | 30.08.2023 |
| 13 | Application in Form 9A for exercising the option available under Explanation to section 11(1) to apply income of previous year in the next year or in future (if the assessee is required to submit return of income on October 31, 2023). | 31.08.2023 |
| 14 | Application in Form 9A for exercising the option available under Explanation to section 11(1) to apply income of previous year in the next year or in future (if the assessee is required to submit return of income on October 31, 2023). | 31.08.2023 |
- 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 July – 2023:
| Sl. | Particulars of the Notification(s) | File No. / Circular No. | Link(s) |
| 1. | The Income-tax (Twelvth Amendment) Rules, 2023. | Notification No. 50/2023 | Click Here |
| 2. | The Income-tax (Thirteenth Amendment) Rules, 2023. | Notification No. 51/2023 | Click Here |
| 3. | Corrigenda to Circular No.1 0 of 2023 dated 30th June, 2023 | Circular 11./ 2023 | Click Here |
| 4. | Circular No. 12/2023 : Clarification regarding taxability of income earned by a non-resident investor from off-shore investments in investment fund routed through an Alternative Investment Fund !New | Circular 12./ 2023 | Click Here |
| 5. | The Central Government hereby notifies for the purposes of the said clause, ‘Yamuna Expressway Industrial Development Authority’, | Notification No. 48/2023 | Click Here |
| 6 | The Central Government hereby notifies that where the variation between the arm’s length price determined under section 92C | Notification No. 46/2023 | Click Here |
| 7 | Order under section 119 of the Income-tax Act, 1961 for extension of time limits for submission of certain TDS/TCS Statements — Reg. | Circular 09./ 2023 | Click Here |
| 8 | Circular to remove difficulty in implementation of changes relating to Tax Collection at Source (TCS) on Liberalised Remittance Scheme (LRS) and on purchase of overseas tour program package !New | Circular No. 10/2023 | 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 |
| July, 2023 | 20th August, 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 | |
| July, 2023 | 22nd August, 2023 | Due Date for filling GSTR – 3B return for the month of July, 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 | |
| July, 2023 | 24th August, 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 (July, 2023) | 11.08.2023 | 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 | 20.08.2023 |
| GSTR -6 | Every Input Service Distributor (ISD) | 13th of succeeding month | 13.08.2023 |
| GSTR -7 | Return for Tax Deducted at source to be filed by Tax Deductor | 10th of succeeding month | 10.08.2023 |
| GSTR -8 | E-Commerce operator registered under GST liable to TCS | 10th of succeeding month | 10.08.2023 |
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 | 13.08.2023 |
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. | 25.08.2023 |
- GST UPDATES – JuLy, 2023:
| Sl. | Notification Particulars | Notification No. | Link (s) |
| 1. | Advisory: Online Compliance Pertaining to Liability / Difference Appearing in R1 – R3B (DRC-01B) | GSTN 592 | Click Here |
| 2. | Extension of due date for filing of return in FORM GSTR-3B for the month of May 2023 for the persons registered in the districts of Kutch, Jamnagar, Morbi, Patan and Banaskantha in the state of Gujarat upto 30th June 2023. | 17/2023-Central Tax | Click Here |
| 3. | Important Update: Geocoding Functionality Now Live for All States and Union Territories | GSTN 594 | Click Here |
| 4 | Webinar on ‘DRC-01B online functionality for liability mismatch’ | GSTN 595 | Click Here |
| 5 | Seeks to extend amnesty for GSTR-10 non-filers | 26/2023-Central Tax | Click Here |
| 6 | Seeks to extend amnesty for GSTR-9 non-filers | 25/2023-Central Tax | Click Here |
| 7 | Seeks to extend amnesty scheme for deemed withdrawal of assessment orders issued under Section 62 | 24/2023-Central Tax | Click Here |
| 8 | Seeks to extend time limit for application for revocation of cancellation of registration | 23/2023-Central Tax | Click Here |
| 9 | Seeks to extend amnesty for GSTR-4 non-filers | 22/2023-Central Tax | Click Here |
| 10 | Seeks to extend the due date for furnishing FORM GSTR-7 for April, May and June, 2023 for registered persons whose principal place of business is in the State of Manipur | 21/2023-Central Tax | Click Here |
| 11 | Seeks to extend the due date for furnishing FORM GSTR-3B for quarter ending June, 2023 for registered persons whose principal place of business is in the State of Manipur | 20/2023-Central Tax | Click Here |
| 12 | Seeks to extend the due date for furnishing FORM GSTR-3B for April, May and June, 2023 for registered persons whose principal place of business is in the State of Manipur | 19/2023-Central Tax | Click Here |
| 13 | Seeks to extend the due date for furnishing FORM GSTR-1 for April, May and June, 2023 for registered persons whose principal place of business is in the State of Manipur | 18/2023-Central Tax | Click Here |
| 14 | Clarification regarding taxability of services provided by an office of an organisation in one State to the office of that organisation in another State, both being distinct persons | 199/11/2023-GST | Click Here |
| 15 | Clarification on issue pertaining to e-invoice | 198/10/2023-GST | Click Here |
| 16 | Clarification on refund-related issues | 197/09/2023-GST | Click Here |
| 17 | Clarification on taxability of share capital held in subsidiary company by the parent company | 196/08/2023-GST | Click Here |
| 18 | Clarification on availability of ITC in respect of warranty replacement of parts and repair services during warranty period | 195/07/2023-GST | Click Here |
| 19 | Clarification on TCS liability under Sec 52 of the CGST Act, 2017 in case of multiple E-commerce Operators in one transaction | 194/06/2023-GST | Click Here |
| 20 | Clarification to deal with difference in Input Tax Credit (ITC) availed in FORM GSTR-3B as compared to that detailed in FORM GSTR-2A for the period 01.04.2019 to 31.12.2021 | 193/05/2023-GST | Click Here |
| 21 | Clarification on charging of interest under section 50(3) of the CGST Act, 2017, in cases of wrong availment of IGST credit and reversal thereof. | 192/04/2023-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) | 15.08.2023 | PF Payment | ECR |
| ESIC (Employees’ State Insurance Act, 1948) | 15.08.2023 | 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 |
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- Updates TRACKER under Labour LAws – July, 2023:
| Sl. | Particulars | Link |
| 1 | ‘Last opportunity’: EPFO extends deadline to apply for higher pension till July 11, 2023 | Click here |
| 2 | Seeking higher EPS pension? You have only five more days to apply | Click here |
| 3 | EPFO higher EPS pension calculator: A step-by-step guide on how it works, how to use | Click here |
| 4 | Byju’s delayed PF payments: What EPFO rule says when employer fails to deposit contribution in EPF account | Click here |
| 5 | How to download EPFO’s Excel calculator for higher EPS pension | Click here |
| 6 | Majority of informal workers expect assurance of ESI: Report | Click here |
| 7 | Eighty percent informal workers want ESI, health benefits: Quess Corp report | Click here |
| 8 | ESIC asks beneficiaries to link IP number with Aadhaa | Click here |
| 9 | No EPF nominee? How PF money will be paid after EPFO member’s death | Click here |
| 10 | PF account balance: EPF balance check online on mobile, SMS, call, Umang App | Click here |
| 11 | EPFO Passbook: How much money has been deposited in the EPF account? Check EPF Balance sitting at home in these 4 easy ways | 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 |
| 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 two working days of the conclusion of its General Meeting, details regarding the voting results in the format specified by the Board. | 2 working days |
| 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. | 7 working days advance intimation excluding the date of the intimation and date of the meeting. |
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. |
- SEBI Circulars Tracker: July, 2023
| Sl. | Particulars | Link |
| 1. | Extension of Timeline for Submission of Public Comments on the Consultation Paper on Consolidated Cybersecurity and Cyber Resilience Framework (CSCRF) | Click Here |
| 2. | SEBI Bulletin – July 2023 [MSExcel] | Click Here |
| 3. | Consultation paper on ‘Prudential norms for exposure of Clearing Corporations’ | Click Here |
| 4. | New category of Mutual Fund schemes for Environmental, Social and Governance (“ESG”) Investing and related disclosures by Mutual Funds | Click Here |
| 5. | Trading Window closure period under Clause 4 of Schedule B read with Regulation 9 of SEBI (Prohibition of Insider Trading) Regulations, 2015 (“PIT Regulations”) – Extending framework for restricting trading by Designated Persons (“DPs”) by freezing PAN at security level to all listed companies in a phased manner | Click Here |
| 6. | Baroda BNP Paribas Gold ETF | Click Here |
| 7. | Format for Annual Secretarial Compliance Report for InvITs | Click Here |
| 8. | Format for Annual Secretarial Compliance Report for REITs | Click Here |
| 9. | Format of Compliance Report on Governance for REITs | Click Here |
| 10. | Format of Compliance Report on Governance for InvITs | Click Here |
| 11. | Investor Service Centres of Stock Exchanges | Click Here |
| 12. | Manner of achieving minimum public unitholding – InvITs | Click Here |
| 13. | Manner of achieving minimum public unitholding – REITs | Click Here |
| 14. | Disclosure of Information on Issuers Not Cooperating (INC) with CRAs | Click Here |
| 15. | Amendment to Securities and Exchange Board of India (Informal Guidance) Scheme 2003 | Click Here |
| 16 | Online Remittance of Fees Payable to SEBI | Click Here |
| 17 | Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2023 | Click Here |
| 18 | SEBI Board Meeting | Click Here |
| 19 | Implementation of circular on upstreaming of clients’ funds by Stock Brokers (SBs) / Clearing Members (CMs) to Clearing Corporations (CCs) | Click Here |
| 20 | Master Circular for listing obligations and disclosure requirements for Non-convertible Securities, Securitized Debt Instruments and/ or Commercial Paper | Click Here |
| 21 | Master Circular for Credit Rating Agencies | Click Here |
| 22 | Securities and Exchange Board of India (Ombudsman) (Repeal) Regulations, 2023 | Click Here |
| 23 | Appointment of Director nominated by the Debenture Trustee on boards of issuers | Click Here |
| 24 | Consultation Paper on Consolidated Cybersecurity and Cyber Resilience Framework (CSCRF) for SEBI Regulated Entities | Click Here |
| 25 | Master Circular for Debenture Trustees | Click Here |
| 26 | Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) (Second Amendment) Regulations, 2023 | Click Here |
| 27 | Regulatory Framework for Sponsors of a Mutual Fund | Click Here |
| 28 | Master Circular for issue and listing of Non-convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities and Commercial Paper | Click Here |
| 29 | Master circular for compliance with the provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 by listed entities | Click Here |
| 30 | Master Circular for ESG Rating Providers (ERPs) | Click Here |
| 31 | Disclosure of material events / information by listed entities under Regulations 30 and 30A of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 | Click Here |
| 32 | Incorrect news item | Click Here |
7. Compliance Requirement UNDER Companies Act, 2013 and Rules made thereunder;
| Applicable Laws/Acts | Due Dates | Compliance Particulars | Forms / Filing mode |
| 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 | 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 – July, 2023
| Sl. | Particulars of the Circulars | Link |
| 1 | Merger of multiple user IDs in V2 Portal with new User ID in V3 and deactivation of old user ID in V2 Portal | Click Here |
| 2 | Stakeholders are informed that Beta Version of Master Data Services in V-3 (for Testing purposes Only; not to be used for any statutory and legal purpose) shall be launched on 09/07/2023. Existing V-2 Master Data Services shall remain available for the stakeholders. | Click Here |
| 3 | Ministry of Corporate Affairs to take back 7,338 cases under companies law | Click Here |
| 4 | Investigation Ordered by Ministry of Corporate Affairs on Shree Cement’s Operations | Click Here |
| 5 | MCA Offline Payment Process | Click Here |
| 6 | Impact of CSR funds ‘not widely felt’ despite jump in spending: Ministry of Corporate Affairs | Click Here |
| 7 | MCA to handle competition issues in digital markets; Meity to look at sector-specific, technical issues | Click Here |
| 8 | Fix glitches by July 10: Govt tells LTIMindtree | Click Here |
| 9 | Group of organisations write to MCA over concerns around impact of Digital Competition Bill | Click Here |
| 10 | MCA 21 user experience needs change: LTIMindtree | Click Here |
| 11 | Professionals registered on MCA21 portal to have single ID | Click Here |
| 12 | Shree Cement says it received MCA’s inspection order today | Click Here |
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This Calendar / Compliance Tracker is updated till 31st July, 2023 with all Laws / Regulations and their respective amendments.
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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.).
