Newsletter - avantis.co.in WEEKLY NEWSLETTER ... 2015-2020 DGFT issues list of Ineligible categories specifying exports categories/sectors which ... The Reserve Bank of India

AVANTIS WEEKLY NEWSLETTER | ISSUE 2 OF DECEMBER 2017 1

copyAvantis Softech LLP

Weekly

Newsletter

December 8 2017

Table of Contents

Finance 3

CBEC publishes GST Anti-Profiteering Measures to Benefit Consumers

CBEC notifies Exchange Rate of Foreign Currency Relating to Imported and Export Goods

Regulatory 3

RBI issues clarification for various Co-operative societies using the word ldquoBankrdquo in their names

Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions

Settlement of Agency transactions in certain cases (for Funds and Agency Commission) directly from Reserve Bank of India

Categorization and Rationalization of Mutual Fund Schemes

FSSAIrsquos Direction regarding Labelling Requirements for Seasonings

Draft Notification on Food Safety and Standards (Import) First Amendment Regulations 2017

TRAI directs service providers to remove Analogue RIOs from websites

TRAI releases recommendations on Network Testing before Commercial Launch of Services

IRDAI (Investment by Private Equity Funds in Indian Insurance Companies) Guidelines 2017

DGFT has revised amp updated the Foreign Trade Policy 2015-2020

DGFT issues list of Ineligible categories specifying exports categoriessectors which shall be ineligible for Duty Credit Scrip entitlement under MEIS

in Appendix 3B of Foreign Trade Policy 2015-20

DGFT notifies New Appendices 5 E and 5 F under EPCG Scheme of FTP 2015-20

DGFT amends Services Exports from India Scheme (SEIS) - Schedule under Appendix 3D

The Patents (Amendment) Rules 2017

Central Government issues clarification on Provisions of the Financial Resolution and Deposit Insurance Bill 2017



Human Resource 9

EPFO specifies dates for online filing of monthly returns by the exempted establishments and timeline for the monthly returns

EPFO directs ExemptedRelaxed Establishments to complete Compliance Audit before December 31 2017

EPFO introduces One Employee One EPF Account Facility to consolidate multiple PF accounts of an employee facility

EPFO directs members to update Life Certificate for the year 2018

Corporate 10

MCA extends Due Date of Filing of Form CRA-4 amp Relaxation of additional Fees

MCA amends Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules 2015

Bulk upload facility for updation of AadhaarUID for existing clients and Revised batch upload file format for UCC by BSE for Stock Brokers

MCA amends Companies (Cost Records and Audit) Rules 2014

Bihar 11

Bihar Private Security Agencies (Amendment) Rules 2017

Chhattisgarh 11

Chhattisgarh Government bans burning of firecrackers in specific Municipal Areas

Jharkhand 12

Documents to be carried by the person in charge of the conveyance carrying any consignment of goods in the State of Jharkhand while the goods

are in movement or in transit storage



Finance


The Central Board of Excise and Customs (CBEC) has published the process to be followed by affected consumers not receiving the benefit due reduction in rate of GST on the supply of goods or services and has also uploaded the format for filing anti-profiteering application so as to ensure that all consumers enjoy the benefit of lower prices of goods and services under GST

Under GST suppliers of goods and services must pass on any reduction in the rate of tax or the benefit of input tax credit to consumers by way of commensurate reduction in prices If this is not done the consumers interest is protected by the National Anti-profiteering Authority which may order

(a) reduction in prices

(b) return of the amount not passed on with interest at

the rate of 18 to the recipient

(c) imposition of penalty and

(d) cancellation of registration of the supplier

Affected consumers may file an application in the prescribed format before the Standing Committee on Anti-profiteering if the profiteering has all-India character OR before the State Screening Committees if the profiteering is of local nature

Download the format for filing anti-profiteering application at httpwwwcbecgovinresourceshtdocs-cbecgstformat_20for_filing_anti-profiteering_application_newpdf

[Ticker News]

URL httpwwwcbecgovinresourceshtdocs-cbecgstadv_GSTpdf


In accordance with Section 14 of the Customs Act 1962 the Central Board of Excise and Customs releases Exchange Rate Notification for valuation of goods for purposes of assessment under the said Act In international trade the value of goods is determined by converting the foreign currency into INR using the customs exchange rate This is the deemed value of goods on which a duty of customs will be chargeable

The Central Board of Excise and Customs (CBEC) on December 7 2017 has issued an exchange rate notification giving the rate of exchange of conversion of the below mentioned foreign currencies in Indian rupees which shall be effective from December 8 2017

Australian Dollar

Bahrain Dinar

Canadian Dollar

Chinese Yuan

Danish Kroner

EURO

Hong Kong Dollar

Kuwait Dinar

New Zealand Dollar

Norwegian Kroner

Pound Sterling

Qatari Riyal

Saudi Arabian Riyal

Singapore Dollar

South African Rand

Swedish Kroner

Swiss Franc

UAE Dirham

US Dollar

Japanese Yen

Kenya Shilling

[Notification No 113 2017 - Customs (NT)]

URL httpwwwcbecgovinresourceshtdocs-cbeccustomscs-actnotificationsnotfns-2017cs-nt2017csnt113-2017pdf

Regulatory


The Reserve Bank of India (RBI) has noticed that some Co-operative Societies are using the word ldquoBankrdquo in their names This is a violation of Section 7 of the Banking Regulation Act 1949

It has also come to the notice of RBI that some Co-operative societies are accepting deposits from non-members nominal members associate members which tantamount to conducting banking business in violation of the provisions of the BR Act 1949

Members of the public are hereby informed that such societies have neither been issued any licence under BR Act 1949 nor are they authorized by the RBI for doing banking business The insurance cover from Deposit Insurance and Credit Guarantee Corporation (DICGC) is also not available for deposits placed with these societies Members of public are advised to exercise



caution and carry out due diligence of such Co-operative societies before dealing with them

[Press Release 2017-20181467]

URL httpsrbidocsrbiorginrdocsPressReleasePDFsPR146791ACA334E8C942ADBBB416B9138C79A9PDF


The Reserve Bank of India (RBI) based on consultations with stakeholders on the ldquoDraft Circular - Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactionsrdquo has been decided to rationalise the MDR for debit cards based on the following criteria

a Categorisation of merchants on the basis of turnover

b Adoption of a differentiated MDR for QR-code based

transactions

c Specifying a ceiling on the maximum permissible MDR

for both lsquocard presentrsquo and lsquocard not presentrsquo

transactions

Accordingly the maximum MDR for debit card transactions shall be as under

Sr No

Merchant Category

Merchant Discount Rate (MDR) for debit card transactions (as a of

transaction value)

Physical POS infrastructure

including online card

transactions

QR code-based card acceptance

infrastructure

1 Small merchants (with turnover up to ₹ 20 lakh during the previous financial year)

Not exceeding 040 (MDR cap of ₹ 200 per transaction)


2 Other merchants (with turnover above ₹ 20 lakh during the previous



financial year)

Banks shall ensure that the MDR levied on the merchant shall not exceed the cap rates as prescribed above irrespective of the entity which is deploying the card acceptance infrastructure at the merchant location

Banks are also advised to ensure that merchants on-boarded by them do not pass on MDR charges to customers while accepting payments through debit cards

[RBI2017-18105 DPSSCOPD No163302140032017-18]

URL httpsrbidocsrbiorginrdocsnotificationPDFsMDR06122017317CE333007D406A9002F5A119229563PDF


The Reserve Bank of India (RBI) vide notification dated December 07 2017 has been decided that all agency banks should settle their agency transactions for both funds and agency commission directly with the concerned Regional Office of Reserve Bank instead of routing them through any other agency bank that acts as aggregator in certain cases It effectively makes all agency banks to report government receipts directly to RBI instead of reporting them through any other agency bank So also for payments made by all agency banks on behalf of state governments get directly settled with the concerned Regional Office of RBI Agency Transaction detailsscrolls may be sent directly by individual agency bank to the concerned State GovernmentTreasury This arrangement is expected to improve management of State Government funds apart from reducing inefficiencies in the system

Agency Banks that are already settling their state government transactions with RBI directly may continue to do so Agency Banks that are hither to settling their transactions with other aggregator agency bank may stop such reporting Such banks should settle their agency transaction hereafter with RBI directly The new arrangement for settlement of state government funds on day to day basis (receipts and payments) directly with Reserve Bank will be with effect from January 1 2018 Thereby all agency commission claims beginning with the quarter ending March 31 2018 will be settled directly with the concerned Regional Office of Reserve Bank of India

[RBI2017-18107 DGBAGBDNo-149831020072017-18]



URL httpsrbidocsrbiorginrdocsnotificationPDFsNT1071F33DCCE541342ECB664EB42AA5DE01CPDF


The Securities and Exchange Board of India (SEBI) vide Circular SEBIHOIMDDF3CIRP2017114 dated October 6 2017 had issued guidelines regarding categorization and rationalization of Mutual Fund Schemes

Upon consideration of the subsequent representation received from Association of Mutual Funds of India (AMFI) the SEBI has decided to partially modify the aforesaid circular as under

i In Point 8 of the aforesaid circular after Clause c an

additional Clause lsquodrsquo shall be added as follows

ldquod While preparing the single consolidated list of stocks average full market capitalization of the previous six month of the stocks shall be consideredrdquo

ii In respect of Serial Numbers 3 4 6 7 8 and 9 of

Section B of Annexure to the aforesaid circular it is

clarified that Macaulay duration shall be at portfolio

level and accordingly the column lsquoType of Scheme

(Uniform description of scheme)rsquo of the respective

scheme of the aforesaid Serial Numbers is modified

and shall be read as given below

ldquoAn open ended XYZ scheme investing in instruments such that the Macaulay duration of the portfolio is between A to B years (please refer to page no__) Please refer to the page number of the Offer Document on which the concept of Macaulayrsquos Duration has been explainedrdquo

iii With respect to the Medium Duration Fund and

Medium to Long Duration Fund (Serial Number 7 and

Serial Number 8 of Section B of the Annexure to the

Circular) the characteristics of the scheme shall remain

the same under normal circumstances as stated in the

circular dated October 6 2017 However the fund

manager in the interest of investors may reduce the

portfolio duration of the aforementioned schemes up

to one year in case he has a view on interest rate

movements in light of anticipated adverse Securities

and Exchange Board of India situation The Asset

Management Company (AMC) shall be required to

mention its asset allocation under such adverse

situation in its offer documents Thus the modified

scheme characteristics for the following categories of

schemes would now read as follows

Medium Duration Fund - Investment in Debt amp

Money Market instruments such that the

Macaulay duration of the portfolio is between

3 years ndash 4 years Portfolio Macaulay duration

under anticipated adverse situation is 1 year to

4 years

Medium to Long Duration Fund - Investment

in Debt amp Money Market instruments such

that the Macaulay duration of the portfolio is

between 4 years ndash 7 years Portfolio Macaulay

duration under anticipated adverse situation is

1 year to 7 years

Also whenever the portfolio duration is reduced below the specified floors of 3 years and 4 years in respect of Medium Duration Fund and Medium to Long Duration Fund respectively the Asset Management Company (AMC) shall be required to record the reasons for the same with adequate justification and maintain the same for inspection The written justifications shall be placed before the Trustees in the subsequent Trustee meeting Further the Trustees shall also review the portfolio and report the same in their Half Yearly Trustee Report to SEBI

iv Further Corporate Bond Funds (Serial Number 11 of

Section B of the Annexure to the Circular) would be

permitted to invest in AA+ and above rated

instruments Accordingly the Credit Risk Fund (Serial

Number 12 of Section B of the Annexure to the

Circular) would now be permitted to invest in AA and

below rated instruments (excluding AA+ rated

instruments)

v Serial Number 13 and 16 of Section B of the Annexure

to the Circular shall now read as follows

Category of

Schemes

Scheme Characteristics

Type of Schemes

Banking and PSU Fund

Minimum investment in debt instruments of banks Public Sector Undertakings Public Financial Institutions and Municipal Bonds ndash 80 of total assets

An open ended debt scheme predominantly investing in debt instruments of banks Public Sector Undertakings Public Financial Institutions and Municipal Bonds

Floater Fund

Minimum investment in floating rate

An open ended debt scheme predominantly



instruments (including fixed rate instruments converted to floating rate exposures using swaps derivatives) ndash 65 of total assets

investing in floating rate instruments (including fixed rate instruments converted to floating rate exposures using swaps derivatives)

Mutual Funds are required to submit their proposals to SEBI after obtaining due approvals from their Trustees as early as possible but not later than December 15 2017

All other conditions specified in SEBI circular dated October 06 2017 shall remain unchanged

Read Circular SEBIHOIMDDF3CIRP2017114 dated October 6 2017 at httpwwwsebigovinlegalcircularsoct-2017categorization-and-rationalization-of-mutual-fund-schemes_36199html

[Circular No SEBIHOIMDDF3CIRP2017126]

URL httpwwwsebigovinlegalcircularsdec-2017categorization-and-rationalization-of-mutual-fund-schemes_36804html


The Food Safety and Standards Authority of India (FSSAI) had vide Notification No F No StdsFampVPNotification(01)FSSAI-2016 dated August 2 2017 prescribed the standards for seasoning and other products

Representations were received from various stakeholders stating that the new regulations require specific food product category seasoning to be printed on the label in place of existing food product category seasoning and condiments (Proprietary food) and requested for permission to continue the use of current print packaging material for next six months

After due consideration the FSSAI has decided to permit the use of existing label under proprietary food for the said product up to January 31 2018 However Food Business Operators shall comply with standards prescribed for seasoning as specified in the notification

[File No REG-17KohinoorExtnFSSAI-2017]

URL httpwwwfssaigovindamjcr2db63f6e-3aaf-4319-a816-198071e7484bDirection_Labelling_Seasonings_06_12_2017pdf


The Food Safety and Standards Authority of India (FSSAI) has notified draft regulations on Food Safety and Standards (Import) First Amendment Regulations 2017 inviting comments and suggestions within a period of 30 days from the date of publication of the notice

This notification proposes to amend the requirement relating to shelf life of imported product at the time of port clearance As per this notification Custom Authorities shall not clear any article of food unless it has a valid shelf life of not less than sixty per cent or three months before expiry whichever is less at the time of importrdquo

Further one more provision stating ldquothe importer shall submit certificate of sanitary export from authorized agencies in exporting countries for the categories of food as may be specified by the Food Authority from time to timerdquo has also been inserted This will help in the risk prioritization and in effectively dealing with high risk products intended for import The above regulation will be finalised after considering the comments suggestions from the stakeholders

Objections and suggestions if any may be addressed to the Chief Executive Officer Food Safety and Standards Authority of India Food and Drug Administration Bhawan Kotla Road New Delhi ndash 110002 or may be sent through e-mail at regulationfssaigovin

[F No REG1125Import amendmentFSSAI-2017]

URL httpwwwfssaigovinhomefss-legislationnotificationsdraft-notificationhtml


Telecom Regulatory Authority of India (TRAI) has observed that some broadcasters Reference Interconnect Offers (RIOS) for analogue platforms is getting displayed on their website Hence all the broadcasters are advised to ensure that no RIO for analogue platforms are either executed or displayed on their websites and no offers are made directly or indirectly for making their signals of TV channels available on analogue cable television networks Further all the Multi System Operators and cable operators are advised to ensure no unencrypted signals are carried on their cable television network

[Press Release No1022017]



URL httpwwwtraigovinsitesdefaultfilesPR_No102of2017pdf


The Telecom Regulatory Authority of India (TRAI) vide press release dated December 04 2017 has issued Recommendations on Network Testing before Commercial Launch of Services The Telecom Service Providers (TSPs) are required to install applicable systems for providing mobile services to the subscribers A TSP has to ensure that its service meets the Quality of Service (QoS) standards prescribed by the Department of Telecommunications (DoT) and Telecom Regulatory Authority of India (TRAI) Therefore it is important that all applicable systems are tested before commencement of commercial service

In this regard a consultation paper was released on May 01 2017 wherein various issues involved and the possible framework to bring clarity on the matter were discussed and the stakeholders were requested to provide their comments and counter-comments Based on the comments received and internal analysis TRAI has finalized its recommendations

The key recommendations are

a) A TSP should be allowed to enroll test subscribers in

testing phase to carry out the network testing before

commercial launch of its services

b) The number of test subscribers that can be enrolled

by a TSP in an LSA should be limited to 5 of its

installed network capacity for that LSA The service

provider will submit the detailed capacity

calculations of the network to DoT and TRAI at least

15 days before commencing enrolment of test

subscribers

c) There should be a limit of 90 days on the test phase

involving test subscribers However if the TSP fails

to conclude network testing due to valid reasons it

may make a representation to the Licensor seeking

additional time for network testing giving detailed

justification which may be decided by the Licensor

on case to case basis

d) If a TSP wants to enroll test subscribers it should

give prior intimation to DoT and TRAI at least 15 days

before commencing enrolment of test subscribers

e) All licensing provisions related to the security and

privacy such as ensuring adequate verification of

each and every customer before enrolling him as a

subscriber protection and privacy of communication

maintaining Call Detail Record (CDR)IP Detail

Record (IPDR) Confidentiality of Information Lawful

interception amp monitoring etc must be complied

with by the licensee

f) MNP facility should not be extended to network

under testing

g) If a TSP wants to enroll test subscribers for the

testing of its network it should transparently give

the following information to the test subscribers at

the time of their enrolment

i During test phase TSP is not mandated to

adhere to specified level of QoS Therefore

there may be sub-optimal level of network

performance

ii The scope of services during the test

period

iii MNP facility wont be available till the

services are commercially launched

iv There wont be any charge (fixed charge or

usage based charge) during the test phase

v Likely date of commercial launch

For any clarificationinformation Shri ST Abbas Advisor (Networks Spectrum and Licensing) may be contacted at Tel No +91-11-23210481 or e-mail advmntraigovin




Insurance Regulatory and Development Authority of India (IRDAI) vide notification dated December 05 2017 has issued IRDAI (Investment by Private Equity Funds in Indian Insurance Companies) Guidelines 2017 These guidelines shall be applicable to all unlisted Indian insurance companies and to the Private Equity Funds who have invested in the unlisted Indian insurance companies either as investor or as promoter

The guidelines set a ceiling of 10 in insurance

companies for investors As an investor a fund can

invest up to 10 of the paid up equity of an insurance

company

The Indian investors including PE funds jointly should

not hold more than 25 of paid-up equity share capital

of the company In case of the PE investment through

Special Purpose Vehicle (SPV) the minimum

shareholding of promoters and promoter group should

at all-time be maintained at 50 of the paid-up equity



capital In cases where the minimum holding is less

than 50 it should be maintained at those levels

In case of one-time investment the private equity fund

will have to make an upfront disclosure The regulator

said that after the lock-in period of 5 years an

undertaking of the divestment plan preferably through

an IPO should be submitted

[IRDAFampAGDLPEF263122017]

URL httpswwwirdaigovinADMINCMScmswhatsNew_Layoutaspxpage=PageNo3332ampflag=1


The Director General of Foreign Trade (DGFT) vide notification dated December 05 2017 has revised amp updated the Foreign Trade Policy 2015-2020 which shall come into force with effect from December 05 2017

[Notification No 4120115-2020]

URL httpdgftgovinExim2000NOTNOT17Notification20No204120Mid20Term20Review20of20FTP20Englishpdf

DGFT issues list of Ineligible categories specifying exports categoriessectors which shall be ineligible for Duty Credit Scrip entitlement under MEIS in Appendix 3B of Foreign Trade Policy 2015-20

The Director General of Foreign Trade (DGFT) vide Public Notice dated December 05 2017 has amended Appendix 3B The rates of reward under MEIS for certain categories under Appendix 3B are revised

List of ineligible categories for MEIS benefits are as under-

EOUs EHTPs BTPs STPs who are availing direct tax

benefits exemption

Items which are restricted for export under Schedule-

2 of Export Policy in ITC (HS) unless specifically

notified in Appendix 38

Red sanders and beach sand

Diamond Gold Silver Platinum other precious metal

in any form including plain and studded jewellery and

other precious and semi-precious stones

Ores and concentrates of all types and in all

formations

Cereals of all types

Sugar of all types and all forms unless specifically


Crude petroleum oil and crude primary and base

products of all types and all formulations

Export of milk and milk products unless specifically


Export of Meat and Meat Products unless specifically


Products wherein precious metaldiamond are used or

articles which are studded with precious stones

Items which are prohibited for export under

Schedule-2 of Export Policy in TTC (HS)

The revised rates shall be applicable for exports made with effect from November 01 2017 till June 30 2018

[Public Notice No442015-2020]

URL httpdgftgovinExim2000PNPN17PN204420Engpdf


The Director General of Foreign Trade (DGFT) has notified new Appendices 5E which relates to Computation of Annual Average Export Obligation under EPCG Scheme and 5F which relates to List of Capital Goods not permitted permitted subject to specific conditions for import under EPCG Scheme of FTP 2015-20

[Public Notice No 472015-2020]

URL httpdgftgovinExim2000PNPN17PN20No4720englishpdf


The Director General of Foreign Trade (DGFT) has amended the Appendix 3D The services export rendered between April 01 2017 to March 31 2018 comprising rates and conditions for rewards under the Services Exports from India Scheme (SEIS) has been extended upt0 March 31 2018with rates of reward as specified in the Annexure to this notification






Department of Industrial Policy and Promotion (DIPP) vide notification dated December 01 2017 has further amended the Patents Rules 2003 Vide this amendment in Rule 2(fb) the definition of Startup is substituted as

ldquoStartuprdquo means

a an entity in India recognised as a startup by the

competent authority under Startup India initiative

b In case of a foreign entity an entity fulfilling the

criteria for turnover and period of incorporation

registration as per Startup India Initiative and

submitting declaration to that effect

[GSR 1472(E)]

URL httpwwwegazettenicinWriteReadData2017180577pdf


The Financial Resolution and Deposit Insurance Bill 2017 (FRDI Bill) was introduced in the Lok Sabha on August 10 2017 is presently under the consideration of the Joint Committee of the Parliament The FRDI Bill is far more depositor friendly than many other jurisdictions which provide for statutory bail-in where consent of creditors depositors is not required for bail-in

The FRDI Bill does not propose in any way to limit the scope of powers for the Government to extend financing and resolution support to banks including Public Sector Banks The Governmentrsquos implicit guarantee for Public Sector Banks remains unaffected

Indian Banks have adequate capital and are also under prudent regulation and supervision to ensure safety and soundness as well as systemic stability The existing laws ensure the integrity security and safety of the banking system In India all possible steps and policy measures are taken to prevent the failure of banks and protection of interests of depositors (eg issue of directions prompt corrective action measures capital adequacy and prudential norms) The FRDI Bill will strengthen the system by adding a comprehensive resolution regime that will help ensure that in the rare event of failure of a financial service provider there is a system of quick orderly and efficient resolution in favour of depositors

[Release ID 174162]

URL httppibnicinnewsiteereleaseaspxrelid=174162

Human Resource


Employees Provident Fund Organisation (EPFO) vide circular dated December 01 2017 has specified the due date on which the exempted establishments are required to file monthly returns The last date for filing of online returns shall be treated as 25th of the month following that to which it relates It is also clarified that the phrase 25th of the month following that to which it relates means that the online returns for the wage month should be filed by 25th of the month following the wage month

Details for online filing of monthly and annual return has been provided on the website of the EPFO at the following URL wwwepfindiagovin wwwepfindiacom

In addition to online submission of returns exempted and relaxed establishments shall also submit duly authenticated copy of the returns in hard copy till such time the facility for filing digitally signed return is provided

[No C-ExEx-Return201419536]

URL httpwwwepfindiacomsite_docsPDFsCircularsY2017-2018Ex_OnlineReturn_ExEstt_19536pdf


Employees Provident Fund Organisation (EPFO) vide circular dated December 05 2017 has directed ExemptedRelaxed Establishments to complete Compliance Audit by December 31 2017 positively and report to Head Office by e-mail in the format annexed to the Said circular by January 08 2018

Failure may attract strict action subsequent to conduct of compliance audit should be taken against the defaulting establishment as per the guidelines issued by the Head office under the law including cancellation of exemption or withdrawal of relaxation as the case may be

[No-C-ExMiscComp Audit201519761]

URL httpwwwepfindiacomsite_docsPDFsCircularsY2017-2018Exem_ComplianceAudit_ExEstt_19761pdf




Employees Provident Fund Organisation (EPFO) has introduced a facility to the members to merge their earlier PF accounts to the current PF account so that the EPFO may help them in the integration of all these PF accounts in the current UAN activated PF account

Features of the said facility are as follows

1) A member has to provide his current activated UAN

along with the current member ID amp Mobile number

registered at UAN Member portal

2) On validating these credentials EPFO will facilitate the

member to register hisher EPF accounts Members can

enter details of as many as ten previous PF account

numbers

3) The earlier PF member IDs provided by members will

be forwarded to EPFO field office to which earlier

member ID pertains

EPFO is currently sending SMS to its members whose requests are pending and will also ensure that multiple accounts are consolidated as early as possible The said functionality has been provided in the EPFO website at Our Services gtgt For Employees gtgt One Employee - One EPF Account It can also be accessed using the URLhttp10319445139UANDEDUP

[NoR-IOEOA2016385]

URL httpwwwepfindiacomsite_docsPDFsCircularsY2017-2018RI_OEOA_385pdf


Employees Provident Fund Organisation (EPFO) vide circular dated December 07 2017has directed all the EPF members to update the life certificates received through digitalphysical (both 95 and 71 scheme) for the year 2018 The updation of the fresh life certificates shall be done before December month and these life certificates will be valid up to next year (that is 12-14months) and it is also informed that those pensioners who have not submitted their life certificates since May 2017 but submit now would get their arrears and their life certificates also will be valid up to December 2018

The above changes would be applicable in the application software from November 15 2017 to December 31 2017 only Any Digital Life Certificate (DLC) submitted on or after January 01 2018 shall have validity up to December 31 2018 The DLC

files for the year 2018 will be pushed to all PDBs through auto mode at the earliest All field offices are requested to update the manualdigital life certificates in the system

[NoNDC14(1)2017Pension 2779]

URL httpwwwepfindiacomsite_docsPDFsCircularsY2017-2018NDC_Updation_LifeCert_2779pdf

Corporate


The Ministry of Corporate Affairs (MCA) has extended the due date for filing of Form CRA-4 that is Form for filing Cost Audit Report with the Central Government up to December 31 2017 without additional fees for the financial years starting on or after April 01 2017

[General Circular No 152017 F No5228CAB2O17]

URL httpwwwmcagovinMinistrypdfGeneralCircular15_05122017pdf


The Ministry of Corporate Affairs (MCA) has made second amendment in the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules 2015 The amendment is related to the substitution of Annexure III under Rule 4 of these rules The substituted Annexure III is provided in this notification

[GSR 1480(E) F No 1192013-CL-V]

URL httpwwwegazettenicxinWriteReadData2017180625pdf


The Bombay Stock Exchange (BSE) has provided the bulk upload facility for stock brokers for updation of Aadhaar for existing Individual and non-individual clients The BSE notice has also provided the Bulk Upload File Format

[Notice No 20171205-24]



URL httpwwwbseindiacommarketsMarketInfoDispNewNoticesCircularsaspxpage=20171205-24


The Ministry of Corporate Affairs (MCA) has amended the companies (cost records and audit) Rules 2014 through the Companies (cost records and audit) Amendment Rules 2017

Insertion of new clause after Rule 2(f) of this rule as under

(fa) Indian Accounting Standards means Indian Accounting Standards as referred to in Companies (Indian Accounting Standards) Rules 2015

This amendment has also substituted the Form CRA-1 and Form CRA-3 from the Annexure part of the rules which are provided in the notification Form CRA-1 is for ldquoParticulars relating to the items of Costs to be included in the Books of Accountsrdquo and Form CRA-1 is related to the Cost Audit Report

[F No 1402013-CL-VI dated December 07 2017]

URL httpwwwmcagovinMinistrypdfCompaniesCostrecordsAuditRule_08122017pdf

Bihar


The Government of Bihar has amended the Bihar Private Security Agencies Rules 2011 Vide this amendment-

In rule 3 new sub-rule (2) is inserted which reads as-

The Controlling Authority shall be responsible for

creating a web management system where as far as

possible relevant information such as Act Rules

procedures circulars and notices may be made

available for general public The State Government

shall formulate and notify rules regarding the online

processing of licence and registration of applications

through official website of Home Department of the

Government of Bihar

In rule 10 sub-rule (3) is substituted which reads as-

Applications shall be submitted to the Controlling

Authority either personally or by registered post only

after pre-registering it through the web site The

applications shall accompany an affidavit by the

applicant in prescribed Form-XI

In rule 11 sub-rule (1) the clause ldquoThe licence will be

valid for 3 yearsrdquo shall be substituted by clause ldquoValidity

period of the licence will be of 5 years unless cancelled

under the Act and Rulesrdquo

In Rule 13-

i Sub rule (1) shall be substituted which reads

as- (1) Every Private Agency shall apply to the

Controlling Authority for the renewal of

Licence in prescribed Form-V not less than 45

days before the date of expiry of the validity of

licencerdquo

ii New sub rule (3) shall be inserted which reads

as- The applicant shall submit an affidavit

regarding the correctness of all the

information furnished in the application and to

abide by the conditions for the licence in

Form-XI along with the application

iii In Rule 14 new sub rule (3) shall be inserted

which reads as- The Controlling Authority shall

renew the license after being satisfied with

the application compliance of the conditions

of renewal by the applicant and the affidavit

mentioned in rule 13(3)rdquo

[F No14-312016-10148]

URL httpegazettebihnicinGazetteaspx

Chhattisgarh


The State Government of Chhattisgarh on consultation with the Chhattisgarh Environment Conservation Board has decided that the burning of fire crackers will be banned in the Municipal Areas of areas like Raipur Bilaspur Bhilai Durg Raigarh and Korba which increases air pollution and its effects are more drastic specifically during winter season from 1st December to 31st January of every year

[No F 1-2912017 32]

URL httpcgnicinegazetteViewaspx



Jharkhand

Documents to be carried by the person in charge of the conveyance carrying any consignment of goods in the State of Jharkhand while the goods are in movement or in transit storage

The State Government of Jharkhand vide notification dated December 04 2017 has specified the following documents that the person in charge of the conveyance carrying any consignment of goods in the State of Jharkhand shall carry while the goods are in movement or in transit storage-

For transportation of Goods on Road-

i Tax invoice or Bill of supply or Delivery Challan

ii Lorry Receipt or Goods Forwarding Notes

For transportation of Goods by Railway-

i Tax Invoice or Bill of supply or Delivery Challan

ii Railway Receipt or Parcel Bills

For transportation of Goods by Air-


ii Air Consignment Note or documents of like

nature

[SO142]

URL httpjhr2nicinegazetteGazetteaspx

Avantis

Weekly

Newsletter

December 8 2017

DISCLAIMER

All the information and commentary provided in this newsletter is for illustrative purposes only and should not be regarded or relied upon as legal advice While the content provided is accurate as at the date of first publication laws and regulations change frequently Any reliance on the information contained in this newsletter is solely at the users own risk Avantis Softech LLP expressly disclaims all responsibility for any loss injury liability or damage of any kind resulting from and arising out of or any way related to the content of this newsletter



Human Resource 9





Corporate 10





Bihar 11


Chhattisgarh 11


Jharkhand 12

Documents to be carried by the person in charge of the conveyance carrying any consignment of goods in the State of Jharkhand while the goods

are in movement or in transit storage



Finance











[Ticker News]





Australian Dollar

Bahrain Dinar

Canadian Dollar

Chinese Yuan

Danish Kroner

EURO

Hong Kong Dollar

Kuwait Dinar

New Zealand Dollar

Norwegian Kroner

Pound Sterling

Qatari Riyal

Saudi Arabian Riyal

Singapore Dollar

South African Rand

Swedish Kroner

Swiss Franc

UAE Dirham

US Dollar

Japanese Yen

Kenya Shilling



Regulatory














transactions



transactions


Sr No

Merchant Category


transaction value)



transactions


infrastructure







financial year)



[RBI2017-18105 DPSSCOPD No163302140032017-18]





[RBI2017-18107 DGBAGBDNo-149831020072017-18]







































4 years






1 year to 7 years









instruments)



Category of

Schemes


Type of Schemes




Floater Fund












































subscribers




















under testing








performance


period














company


























benefits exemption









formations




































[GSR 1472(E)]






[Release ID 174162]


Human Resource























numbers



member ID pertains


[NoR-IOEOA2016385]








Corporate







[GSR 1480(E) F No 1192013-CL-V]




[Notice No 20171205-24]











Bihar












Government of Bihar











In Rule 13-






licencerdquo













[F No14-312016-10148]


Chhattisgarh



[No F 1-2912017 32]




Jharkhand












nature

[SO142]


Avantis

Weekly

Newsletter

December 8 2017

DISCLAIMER




Finance











[Ticker News]





Australian Dollar

Bahrain Dinar

Canadian Dollar

Chinese Yuan

Danish Kroner

EURO

Hong Kong Dollar

Kuwait Dinar

New Zealand Dollar

Norwegian Kroner

Pound Sterling

Qatari Riyal

Saudi Arabian Riyal

Singapore Dollar

South African Rand

Swedish Kroner

Swiss Franc

UAE Dirham

US Dollar

Japanese Yen

Kenya Shilling



Regulatory














transactions



transactions


Sr No

Merchant Category


transaction value)



transactions


infrastructure







financial year)



[RBI2017-18105 DPSSCOPD No163302140032017-18]





[RBI2017-18107 DGBAGBDNo-149831020072017-18]







































4 years






1 year to 7 years









instruments)



Category of

Schemes


Type of Schemes




Floater Fund












































subscribers




















under testing








performance


period














company


























benefits exemption









formations




































[GSR 1472(E)]






[Release ID 174162]


Human Resource























numbers



member ID pertains


[NoR-IOEOA2016385]








Corporate







[GSR 1480(E) F No 1192013-CL-V]




[Notice No 20171205-24]











Bihar












Government of Bihar











In Rule 13-






licencerdquo













[F No14-312016-10148]


Chhattisgarh



[No F 1-2912017 32]




Jharkhand












nature

[SO142]


Avantis

Weekly

Newsletter

December 8 2017

DISCLAIMER











transactions



transactions


Sr No

Merchant Category


transaction value)



transactions


infrastructure







financial year)



[RBI2017-18105 DPSSCOPD No163302140032017-18]





[RBI2017-18107 DGBAGBDNo-149831020072017-18]







































4 years






1 year to 7 years









instruments)



Category of

Schemes


Type of Schemes




Floater Fund












































subscribers




















under testing








performance


period














company


























benefits exemption









formations




































[GSR 1472(E)]






[Release ID 174162]


Human Resource























numbers



member ID pertains


[NoR-IOEOA2016385]








Corporate







[GSR 1480(E) F No 1192013-CL-V]




[Notice No 20171205-24]











Bihar












Government of Bihar











In Rule 13-






licencerdquo













[F No14-312016-10148]


Chhattisgarh



[No F 1-2912017 32]




Jharkhand












nature

[SO142]


Avantis

Weekly

Newsletter

December 8 2017

DISCLAIMER








































4 years






1 year to 7 years









instruments)



Category of

Schemes


Type of Schemes




Floater Fund












































subscribers




















under testing








performance


period














company


























benefits exemption









formations




































[GSR 1472(E)]






[Release ID 174162]


Human Resource























numbers



member ID pertains


[NoR-IOEOA2016385]








Corporate







[GSR 1480(E) F No 1192013-CL-V]




[Notice No 20171205-24]











Bihar












Government of Bihar











In Rule 13-






licencerdquo













[F No14-312016-10148]


Chhattisgarh



[No F 1-2912017 32]




Jharkhand












nature

[SO142]


Avantis

Weekly

Newsletter

December 8 2017

DISCLAIMER











































subscribers




















under testing








performance


period














company


























benefits exemption









formations




































[GSR 1472(E)]






[Release ID 174162]


Human Resource























numbers



member ID pertains


[NoR-IOEOA2016385]








Corporate







[GSR 1480(E) F No 1192013-CL-V]




[Notice No 20171205-24]











Bihar












Government of Bihar











In Rule 13-






licencerdquo













[F No14-312016-10148]


Chhattisgarh



[No F 1-2912017 32]




Jharkhand












nature

[SO142]


Avantis

Weekly

Newsletter

December 8 2017

DISCLAIMER


















subscribers




















under testing








performance


period














company


























benefits exemption









formations




































[GSR 1472(E)]






[Release ID 174162]


Human Resource























numbers



member ID pertains


[NoR-IOEOA2016385]








Corporate







[GSR 1480(E) F No 1192013-CL-V]




[Notice No 20171205-24]











Bihar












Government of Bihar











In Rule 13-






licencerdquo













[F No14-312016-10148]


Chhattisgarh



[No F 1-2912017 32]




Jharkhand












nature

[SO142]


Avantis

Weekly

Newsletter

December 8 2017

DISCLAIMER





















benefits exemption









formations




































[GSR 1472(E)]






[Release ID 174162]


Human Resource























numbers



member ID pertains


[NoR-IOEOA2016385]








Corporate







[GSR 1480(E) F No 1192013-CL-V]




[Notice No 20171205-24]











Bihar












Government of Bihar











In Rule 13-






licencerdquo













[F No14-312016-10148]


Chhattisgarh



[No F 1-2912017 32]




Jharkhand












nature

[SO142]


Avantis

Weekly

Newsletter

December 8 2017

DISCLAIMER














[GSR 1472(E)]






[Release ID 174162]


Human Resource























numbers



member ID pertains


[NoR-IOEOA2016385]








Corporate







[GSR 1480(E) F No 1192013-CL-V]




[Notice No 20171205-24]











Bihar












Government of Bihar











In Rule 13-






licencerdquo













[F No14-312016-10148]


Chhattisgarh



[No F 1-2912017 32]




Jharkhand












nature

[SO142]


Avantis

Weekly

Newsletter

December 8 2017

DISCLAIMER













numbers



member ID pertains


[NoR-IOEOA2016385]








Corporate







[GSR 1480(E) F No 1192013-CL-V]




[Notice No 20171205-24]











Bihar












Government of Bihar











In Rule 13-






licencerdquo













[F No14-312016-10148]


Chhattisgarh



[No F 1-2912017 32]




Jharkhand












nature

[SO142]


Avantis

Weekly

Newsletter

December 8 2017

DISCLAIMER












Bihar












Government of Bihar











In Rule 13-






licencerdquo













[F No14-312016-10148]


Chhattisgarh



[No F 1-2912017 32]




Jharkhand












nature

[SO142]


Avantis

Weekly

Newsletter

December 8 2017

DISCLAIMER




Jharkhand












nature

[SO142]


Avantis

Weekly

Newsletter

December 8 2017

DISCLAIMER
