AVANTIS WEEKLY NEWSLETTER | ISSUE 3 OF MARCH 2018 1

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Weekly

Newsletter

March 19, 2018

Table of Contents

Finance .................................................................................................................................................................................................................... 4

Recommendations made during the 26th meeting of the GST Council related to Data Analysis

GST Council’s Recommendation on E-Way Bill

CBEC’s Press Release on Policy Changes made under GST

CBEC grants Extension of Tax Exemptions for Exporters for Six Months

CBEC issues Circular clarifying certain issues for UIN Entities

CBEC’s Clarifications on Exports related Refund Issues

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

CBEC modifies Tariff Value for Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver

Regulatory............................................................................................................................................................................................................... 7

RBI notifies Hedging of Commodity Price Risk and Freight Risk in Overseas Markets (Reserve Bank) Directions, 2018

RBI discontinues Letters of Undertaking (LoUs) and Letters of Comfort (LoCs) for Trade Credits

RBI notifies dates for submission of returns by the Government-owned Non-Banking Financial Companies (NBFC’s)

RBI decides to settle agency commission payable to banks for operating Special Deposit Scheme (SDS) at Central Accounts Section (CAS)

SEBI issues Clarifications in respect of Investment by certain Category II FPIs

SEBI issues Clarification to Circular pertaining to Investor Grievance Redressal System and Arbitration Mechanism

SEBI issues Clarification to Circular pertaining to Investor Protection Fund and Investor Service Fund

SEBI revises limits relating to requirement of underlying exposure for currency derivatives contracts

SEBI (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2018

Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulation, 2018

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FSSAI’s Direction regarding Labelling Requirements for Seasoning

FSSAI implements Revised Food Safety Inspection checklists

FSSAI’s Direction regarding Permission to use Pre-Printed Packaging Material

IRDAI issues clarification on Closure/Dissolution of Corporate Surveyors

IRDAI releases Exposure Draft on Revision in Premium Rates for Motor Third Party Insurance Covers for the FY 2018-19

TRAI extends time for receiving comments on “Consultation Paper on Voice services to LTE users (including VoLTE and CS Fallback)”

Ministry of Consumer Affairs, Food and Public Distribution further extends date for use of stickers/ tags/ online printing till April 31, 2018

WDRA launches online process of Renewal of Registration, modifications and Regulatory reporting

DGFT amends Chapter 2 of the Handbook of Procedure (2015-20)

The services in Industry ‘Any Oil Field to be a Public Utility Service

Human Resource ................................................................................................................................................................................................. 15

EPFO sets up ‘MAY I HELP YOU’ counters to facilitate online claims

UAN Activated Members Can Know PF Balance Through Missed Call AND SMS Alert

ESIC revises monthly contribution to be paid by the ESIC pensioners

ESIC revises rate of interest on General Provident Fund accumulations

Environment and Health Safety (E.H.S.) .................................................................................................................................................... 16

The Gas Cylinders (Second amendment) Rules, 2018

Master of Dental Surgery Course (1st Amendment) Regulations, 2018

Dental Council of India (Establishment of New Dental Colleges, Opening of New or Higher Course of Study or Training and Increase of Admission

Capacity in Dental Colleges) (10th Amendment) Regulations, 2018

Corporate ............................................................................................................................................................................................................... 17

The Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Amendment Rules, 2018

Bihar ........................................................................................................................................................................................................................ 17

Bihar Government extends the date of amnesty for the vehicle owners of tax defaulter under the Bihar Motor Vehicle Taxation Act, 1994

Draft Bihar Electricity Regulatory Commission (Compensation to Victims of Electrical Accidents) Regulations, 2018

Karnataka .............................................................................................................................................................................................................. 18

The Karnataka Goods and Services Tax (Amendment) Rules, 2018

Karnataka Government rescinds the notification related to waiving off the amount of late fee payable on failure to furnish return in form GSTR-5A

by the due date

Maharashtra ......................................................................................................................................................................................................... 21

Draft MERC (Forecasting, Scheduling and Deviation Settlement for Solar and Wind Generation) Regulations, 2018

Maharashtra State Juvenile Justice (Care and Protection of Children) Rules, 2018

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West Bengal ......................................................................................................................................................................................................... 22

West Bengal Goods and Services Tax (Second Amendment) Rules, 2018

West Bengal Government rescinds notification which waived off late fee for GSTR-5A

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Finance

Recommendations made during the 26th meeting of the GST Council related to Data Analysis

The GST Council, during the 26th meeting held on March 10, 2018, has been informed of the fact that the Central Board of Excise and Customs (CBEC) and Goods and Service Tax Network (GSTN) have started detailed data analytics across a number of data sets available with them. The outcome of preliminary data analysis has revealed interesting insights:

It has emerged that there is variance between the

amount of IGST and Compensation Cess paid by

importers at Customs ports and input tax credit of the

same claimed in GSTR-3B.

There are major data gaps between self-declared

liability in FORM GSTR-1 and FORM GSTR-3B.

It was deliberated that this information may be further analysed and adequate action may be initiated accordingly.

[Press Release regarding Data Analytics dated March 10, 2018]

URL: http://www.cbec.gov.in/resources//htdocs-cbec/press-release/press-release-data-analytics.pdf

GST Council‟s Recommendation on E-Way Bill

The GST Council has recommended the introduction of e-way bill for inter-State movement of goods across the country from April 01, 2018. For intra-State movement of goods, e-way bill system will be introduced with effect from a date to be announced in a phased manner but not later than June 01, 2018. Major improvements over the last set of rules, as approved by the Council now, are as follows:

E-way bill is required to be generated only where the

value of the consignment exceeds Rs. 50000/-. For

smaller value consignments, no e-way bill is required.

The provisions of Rule 138(7) will be notified from a

later date. Therefore, at present there is no

requirement to generate e-way bill where an individual

consignment value is less than Rs. 50,000/-, even if the

transporter is carrying goods of more than Rs. 50,000/-

in a single conveyance.

Value of exempted goods has been excluded from

value of the consignment, for the purpose of e-way bill

generation.

Public conveyance has also been included as a mode of

transport and the responsibility of generating e-way bill

in case of movement of goods by public transport

would be that of the consignor or consignee.

Railways have been exempted from generation and

carrying of e-way bill with the condition that without

the production of e-way bill, railways will not deliver

the goods to the recipient. But railways are required to

carry invoice or delivery challan etc.

Time period for the recipient to communicate his

acceptance or rejection of the consignment would be

the validity period of the concerned e-way bill or 72

hours, whichever is earlier.

In case of movement of goods on account of job-work,

the registered job worker can also generate e-way bill.

Consignor can authorize the transporter, courier

agency and e-commerce operator to fill PART-A of e-

way bill on his behalf.

Movement of goods from the place of consignor to the

place of transporter up to a distance of 50 Km

(increased from 10 km) does not require filling of PART-

B of e-way bill. They have to generate PART-A of e-way

bill.

Extra validity period has been provided for Over

Dimensional Cargo (ODC).

If the goods cannot be transported within the validity

period of the e-way bill, the transporter may extend the

validity period in case of transhipment or in case of

circumstances of an exceptional nature.

Validity of one day will expire at midnight of the day

immediately following the date of generation of e-way

bill.

Once verified by any tax officer, the same conveyance

will not be subject to a second check in any State or

Union territory, unless and until, specific information

for the same is received.

In case of movement of goods by railways, airways and

waterways, the e-way bill can be generated even after

commencement of movement of goods.

Movement of goods on account of Bill-To-Ship-To

supply will be handled through the capturing of place of

dispatch in PART-A of e-way bill.

[Press Release regarding E-way Bill dated March 10, 2018]

URL: http://www.cbec.gov.in/resources//htdocs-cbec/press-release/press-release-ewaybill.pdf

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CBEC‟s Press Release on Policy Changes made under GST

The Recommendations made during the 26th meeting of the GST Council held in New Delhi on 10th March, 2018 are as follows:

I. Return filing System:

The present system of filing of GSTR 3B and GSTR 1 is extended for another three months that is, April to June, 2018 till the new return system is finalized. A new model was discussed extensively and Group of Ministers on IT has been tasked to finalize the same.

II. Reverse charge mechanism:

The liability to pay tax on reverse charge basis has been deferred till June 30, 2018. In the meantime, a Group of Ministers will look into the modalities of its implementation to ensure that no inconvenience is caused to the trade and industry.

III. TDS/TCS:

The provisions for deduction of tax at source (TDS) under section 51 of the CGST Act and collection of tax at source (TCS) under section 52 of the CGST Act shall remain suspended till June 30, 2018. In the meantime, the modalities of linking State and Central Governments accounting system with GSTN will be worked out so that seamless credit is available to the registered traders whose tax is deducted or collected at source.

IV. Grievance Redressal Mechanism:

GST implementation Committee (GIC) has been tasked with the work of redressing the grievances caused to the taxpayers arising out of IT glitches.

[Press Release regarding Policy Changes dated March 10, 2018]

URL: http://www.cbec.gov.in/resources//htdocs-cbec/press-release/press-release-data-retun-rcm-tds.pdf

CBEC grants Extension of Tax Exemptions for Exporters for Six Months

Sending a strong positive signal to the exporting community, the GST Council on March 10, 2018 has decided to extend the available tax exemptions on imported goods for a further 6 months beyond March 31, 2018. Thus, exporters presently availing various export promotion schemes can now continue to avail such exemptions on their imports up to October 01, 2018, by which time an e-Wallet scheme is expected to be in place to continue the benefits in future.

In a related development which would benefit the exporters, the GST Council reviewed the progress in grant of refunds to exports of both IGST and Input Tax Credit. The GST Council appreciated that the pace of grant of IGST refund has picked up.

Thereafter, the GST Council directed GSTN to expeditiously forward the balance refund claims to the Customs/Central GST/State GST authorities, as the case may be, for their immediate sanction and disbursal.

It may be recalled that in its meeting held on 06.10.2017 the Council had noted that exporters are experiencing difficulties of cash blockage on account of having to upfront pay GST / IGST on the inputs, raw materials etc. / finished goods imported / procured for purposes of exports. An interim solution was found by re-introducing the pre-GST tax exemptions on such imports. Additionally, for merchant exporters a special scheme of payment of GST at the rate of 0.1% on their procured goods was introduced. Also, domestic procurement made under Advance Authorization, EPCG and EOU schemes were recognized as 'deemed exports' with flexibility for either the suppliers or the exporters being able to claim a refund of GST / IGST paid thereon. All these avenues were made available up to March 31, 2018.

The permanent solution agreed to by the Council was to introduce an e-Wallet scheme with effect from April 01, 2018. The e-Wallet scheme is basically the creation of electronic e-Wallets, which would be credited with notional or virtual currency by the DGFT. This notional / virtual currency would be used by the exporters to make the payment of GST / IGST on the goods imported / procured by them so their funds are not blocked.

On December 16, 2017, Finance Secretary constituted a Working Group with representatives of Central and State Governments to operationalize the e-Wallet scheme. After reviewing the progress, the Council noted that whereas some preparatory work had been done, more needs to be done to address a large number of technical, legal and administrative issues that have been identified. The Council appreciated that this would require more time. The Council was also unanimous that there should be no disruption that may affect the exports. Accordingly, the Council agreed to:

(a) Defer the implementation of the e-Wallet scheme by

6 months that is, up to October 01, 2018; and

(b) Extend the present dispensation in terms of

exemptions etc. which is available up to March 31,

2018, for a further 6 months that is, up to October 01,

2018.

[Press Release dated 10.03.2018]

URL: http://www.cbec.gov.in/resources//htdocs-cbec/press-release/press-release-data-exporter.pdf

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CBEC issues Circular clarifying certain issues for UIN Entities

The GST Council, in its 23rd meeting held on November 10, 2017, had decided that the entities having Unique Identity Number (UIN) may be given centralized registration at the option of such entities. Further, it was also decided that the Central Government will be responsible for all administrative compliances in respect of such entities.

In order to clarify some of the issues and to ensure uniformity of implementation across field formations, the Central Board of Excise and Customs (CBEC), has clarified issues relating to:

Status of registration for UINs,

Filing of return by UIN agencies,

Applying for refund by UIN agencies,

Passing of refund order and settlement of funds.

[Circular No. 36/10/2018-GST]

URL: http://www.cbec.gov.in/resources//htdocs-cbec/gst/circularno-36-cgst.pdf;jsessionid=48B7CEE356B30952633A17BA9197815F

CBEC‟s Clarifications on Exports related Refund Issues

The Central Board of Excise and Customs (CBEC) vide Circular No. 17/17/2017 – GST dated November 15, 2017 and Circular No. 24/24/2017 – GST dated December 21, 2017 clarified various issues in relation to processing of claims for refund.

Since then, several representations have been received seeking further clarifications on issues relating to refund. In order to clarify these issues and with a view to ensure uniformity in the implementation of the provisions of the law across field formations, the CBEC has clarified the issues raised as below:

Non-availment of drawback

Amendment through Table 9 of GSTR-1

Exports without Letter of Undertaking (LUT)

Exports after specified period

Deficiency memo

Self-declaration for non-prosecution

Refund of transitional credit

Discrepancy between values of GST invoice and

shipping bill/bill of export

Refund of taxes paid under existing laws

Filing frequency of Refunds

Bank Realisation Certificates (BRC) or Foreign Inward

Remittance Certificates (FIRC) for export of goods

Supplies to Merchant Exporters

Requirement of invoices for processing of claims for

refund

These instructions shall apply to exports made on or after 1st July, 2017. It is also advised that refunds may not be withheld due to minor procedural lapses or non-substantive errors or omission.

Read Circular No. 17/17/2017 – GST at http://www.cbec.gov.in/resources//htdocs-cbec/gst/Circular%20No.%2017-GST.pdf and Circular No. 24/24/2017 – GST at http://www.cbec.gov.in/resources//htdocs-cbec/gst/circularno-24-cgst.pdf

[Circular No. 37/11/2018-GST]

URL: http://www.cbec.gov.in/resources//htdocs-cbec/gst/circularno-37-cgst.pdf

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

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 March 15, 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 March 16, 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

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Swiss Franc

UAE Dirham

US Dollar

Japanese Yen

Kenya Shilling

[Notification No.19/2018 - Customs (N.T.)]

URL: http://www.cbec.gov.in/resources//htdocs-cbec/customs/cs-act/notifications/notfns-2018/cs-nt2018/csnt19-2018.pdf

CBEC modifies Tariff Value for Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver

The Central Board of Excise and Customs (CBEC) on March 15, 2017 has amended the tariff notification in respect of fixation of tariff value of the following goods:

Crude Palm Oil

RBD Palm Oil

Others – Palm Oil

Crude Palmolein

RBD Palmolein

Others – Palmolein

Crude Soya Bean Oil

Brass Scrap (all grades)

Poppy seeds

Gold, in any form, in respect of which the benefit of

entries at serial number 321 and 323 of the Notification

No. 12/2012-Customsdated March 17, 2012 is availed

Silver, in any form, in respect of which the benefit of

entries at serial number 322 and 324 of the Notification

No. 12/2012-Customs dated March 17, 2012 is availed

Areca nuts

The Tables 1, 2and 3 provided in the notification will be substituted for the existing tables in its parent notification. These tables contain the details about chapter headings, descriptions of goods and tariff value.

[Notification No. 20/2018-CUSTOMS (N.T.)]

URL: http://www.cbec.gov.in/resources//htdocs-cbec/customs/cs-act/notifications/notfns-2018/cs-nt2018/csnt20-2018.pdf

Regulatory

RBI notifies Hedging of Commodity Price Risk and Freight Risk in Overseas Markets (Reserve Bank) Directions, 2018

The Reserve Bank of India (RBI) vide circular dated March 12, 2018 has notified the Hedging of Commodity Price Risk and Freight Risk in Overseas Markets (Reserve Bank) Directions, 2018. These directions shall come into force on April 01, 2018.

Under the new directions, commodities whose price risk can be hedged in the case of direct exposure include all commodities except gold, gems and precious stones. Residents (non-individuals) hedging their commodity price risks and freight risks under a specific approval from RBI given under the approval-route based on the previous set of guidelines would be permitted to continue hedging under the said approval till June 30, 2018 or the last date specified in the approval, whichever is earlier.

[RBI/2017-18/138 A.P. (DIR Series) Circular No. 19]

URL: https://rbidocs.rbi.org.in/rdocs/notification/PDFs/NT138A834B2C3C0344C87AEEE6BB497891621.PDF

RBI discontinues Letters of Undertaking (LoUs) and Letters of Comfort (LoCs) for Trade Credits

The Reserve Bank of India (RBI) vide circular dated March 13, 2018 has decided to discontinue the practice of issuance of LoU’s/ LoC’s for Trade Credits for imports into India by AD Category –I banks with immediate effect.

Letters of Credit and Bank Guarantees for Trade Credits for imports into India may continue to be issued subject to compliance with the provisions of Banking Regulation Master Circular No. DBR. No. Dir. BC.11/13.03.00/2015-16 dated July 1, 2015 on “Guarantees and Co-acceptances”

AD Category-I banks may bring the contents of this circular to the notice of their constituents and customers.

[RBI/2017-18/139 A.P. (DIR Series) Circular No. 20]

URL: https://rbidocs.rbi.org.in/rdocs/notification/PDFs/NOTI139F15274F2540046CE9C14E9DFEAA60941.PDF

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RBI notifies dates for submission of returns by the Government-owned Non-Banking Financial Companies (NBFC‟s)

The Reserve Bank of India (RBI) vide notification dated March 15, 2018 has decided that all Government-owned NBFCs shall put in place a reporting system for filing periodic returns with the Bank, as detailed in the Master Direction – Non-Banking Financial Company Returns (Reserve Bank) Directions, 2016 dated September 29, 2016. The returns should be compiled on the basis of the figures available in the books of accounts of such NBFCs and filed with the RBI on-line (using the COSMOS software package) by an authorised official of the NBFC, who shall be specifically authorised in this regard by the Board of Directors of such NBFC concerned.

The first set of returns should be filed with effect from the:

(i) Last Friday of December 2017 for the weekly return;

(ii) Quarter ended - December 31, 2017 for the quarterly

returns;

(iii) Half-year ending March 31, 2018 for the half-yearly

returns; and

(iv) Year ending March 31, 2018 for the annual returns.

All weekly, quarterly returns up to December 31, 2017 shall be submitted by April 15, 2018. Thereafter, these returns shall be submitted within the timeline stipulated in the Master Direction on returns to be submitted by NBFCs.

[RBI/2017-18/141 DNBS.PD.CC.No.1925/66.08.001/2017-18]

URL: https://rbidocs.rbi.org.in/rdocs/notification/PDFs/NOTI1411D5E4D71E7424469ABF5AD1FF92320E1.PDF

RBI decides to settle agency commission payable to banks for operating Special Deposit Scheme (SDS) at Central Accounts Section (CAS)

The Reserve Bank of India (RBI) vide notification dated March 15, 2018 has decided that agency commission claims on SDS related transactions (where mirror accounts are maintained in RBI) will be settled at Central Accounts Section (CAS), Nagpur and not in respective Regional Offices of RBI, with immediate effect.

Accordingly, all agency banks handling SDS are advised to submit their agency commission claims related to SDS transactions to CAS, Nagpur on quarterly basis. However, agency banks will continue to claim reimbursement of interest paid and withdrawal from SDS accounts from the respective Regional Offices of RBI in which the mirror accounts are maintained.

[RBI/2017-18/140 DGBA.GBD.2294/15.01.001/2017-18]

URL: https://rbidocs.rbi.org.in/rdocs/notification/PDFs/NOTI1405C77A2160B904987B48E4CFD01C05860.PDF

SEBI issues Clarifications in respect of Investment by certain Category II FPIs

The Securities and Exchange Board of India (SEBI) issued Circular No. CIR/IMD/FPIC/ 26 /2018 dated February 15, 2018 regarding “Easing of access norms for investment by Foreign Portfolio Investors (FPIs)”.

In view of queries from stakeholders, the following clarifications are made in respect of investment by certain category II FPIs:-

The collective investment vehicle of private banks/

merchant banks investing on behalf of clients need to

ensure the following:-

a) The client/ investor should have fulfilled know

your client norms. The beneficial owners (BO)

of client/ investor of bank should be identified

in accordance with Rule 9 of Prevention of

Money Laundering (Maintenance of Records)

Rules, 2005.

b) The client/ investor or their BO should not be

Resident Indian/ NRI/ Overseas Citizen of India.

c) The client/ investor is not resident in a country

identified in the public statement of Financial

Action Task Force as:-

(i) a jurisdiction having a strategic Anti-

Money Laundering or Combating the

Financing of Terrorism deficiencies to

which counter measures apply; or

(ii) a jurisdiction that has not made sufficient

progress in addressing the deficiencies or

has not committed to an action plan

developed with the Financial Action Task

Force to address the deficiencies;

d) The client/ investor should not have opaque

structure(s), as defined under Explanation 1 of

Regulation 32(1)(f) of SEBI (Foreign Portfolio

Investors) Regulations, 2014 or Bearer share

structure.

e) The collective investment vehicle of the Bank

(other than for ODIs) should be broad based

(more than 20 investors and no investor having

more than 49% stake) and there should be

common portfolio for all clients/ investors.

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f) The conditions already specified at point (g) of

SEBI circular dated February 15, 2018 shall

continue to be applicable.

Presently, appropriately regulated broad based

insurance/ reinsurance companies are investing

proprietary funds and for unit linked/ investment

products. In this regard, the SEBI has clarified that

investment in India by insurance/ reinsurance

companies must be maintained as an undivided

common portfolio. Segregated portfolio or investor/

policy-holder level investment structure shall not be

permitted.

In respect of other appropriately regulated persons

permitted as Category II FPIs namely asset

management companies, investment managers/

advisers, Portfolio managers, Broker-dealer and

Swap-dealer, it is clarified that:

(a) They are permitted to invest their proprietary

funds,

(b) These appropriately regulated persons by

taking separate registration can also invest with

client funds as an ODI Issuing FPI or after

fulfiling the condition of being broad based and

having a common portfolio. However, asset

management companies having thematic

portfolios can also have segregated structure if

each theme is broad based.

All other investment restrictions and due diligence

requirements as applicable to FPIs shall continue to

be applicable on entities referred above.

[Circular No.: CIR/IMD/FPIC/47/2018]

URL: https://www.sebi.gov.in/legal/circulars/mar-2018/clarifications-in-respect-of-investment-by-certain-category-ii-fpis_38198.html

SEBI issues Clarification to Circular pertaining to Investor Grievance Redressal System and Arbitration Mechanism

The Securities and Exchange Board of India (SEBI) vide circular no. CIR/CDMRD/DEICE/CIR/P/2017/77 dated July 11, 2017, has issued guidelines covering broad areas of Investor Grievance Redressal System and Arbitration Mechanism.

Subsequently, SEBI has received representations from the national commodity derivatives exchanges (NCDEs) with respect to some of the clauses of the said circular which have

been considered. Accordingly, the following clarifications are being issued.

i. The NCDEs shall provide training of at least one day to

every arbitrator each year.

ii. With regard to Para 2A(x) of the aforesaid circular

pertaining to speeding up grievance redressal

mechanism, it is clarified that in order to discourage

delayed filing by members, the additional fees payable

by members who file their claim beyond the prescribed

time-lines shall be non-refundable even if the

arbitration award goes in favor of the member.

The provisions of this circular shall come into effect immediately.

Read Circular no. CIR/CDMRD/DEICE/CIR/P/2017/77 dated July 11, 2017 at https://www.sebi.gov.in/legal/circulars/jul-2017/amendment-to-investor-grievance-redressal-system-and-arbitration-mechanism_35283.html

[Circular No.: CIR/CDMRD/DCE/CIR/P/2018/48]

URL: https://www.sebi.gov.in/legal/circulars/mar-2018/clarification-to-circular-pertaining-to-investor-grievance-redressal-system-and-arbitration-mechanism_38209.html

SEBI issues Clarification to Circular pertaining to Investor Protection Fund and Investor Service Fund

The Securities and Exchange Board of India (SEBI) vide circular no. CIR/CDMRD/DEICE/CIR/P/2017/53 dated June 13, 2017, had issued guidelines covering broad areas of Investor Protection Fund and Investor Service Fund.

Subsequently, SEBI has received representations from the national commodity derivatives exchanges (NCDEs) for clarifications and consideration of their requests with respect to some of the clauses of the said circular. After examination thereof, the following clarifications are being issued.

i. It is clarified that the unutilized Investor Protection

Fund (IPF) Interest Income accruing during a specific

financial year can be carried forward to the next

financial year to enable effective utilization of such

money by the exchanges during such extended period.

ii. NCDEs are hereby permitted to utilize IPF interest

income for undertaking research activities related to

commodities market, provided every such research

activity / project can be undertaken only after obtaining

prior written approval of the trustees of the IPF Trust,

who would inter alia, record the reasons, relevance and

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stated objectives of the research project while

according approval to such activity/ project. Further,

the Board of the exchange may be apprised of the

research programs / activities being undertaken at least

once in every quarter or half year of a given financial

year.

There will be an overall cap on the total amount, not more than 10% of the interest amount of IPF which can be spent on Research activities related to commodities market. IPF shall frame a policy towards identifying / recognising public and private academic institutions, professional bodies, trade (physical market) associations and industry bodies / chambers through / with whom such Research activities shall be undertaken / organised / sponsored.

iii. Clause 7.3 of the circular no.

CIR/CDMRD/DEICE/CIR/P/2017/53 dated June 13, 2017

provided that the IPF of the exchange shall be utilized

for the clients of SEBI registered members. In this

connection, it is clarified that exchanges may also use

the IPF of the exchange for meeting their liabilities

towards the clients of members not registered with

SEBI, if the same is allowed under the byelaws of the

exchange.

iv. SEBI has prescribed certain expenditures which are to

be met utilizing the ISF and not IPF. However since

Investor Service Fund (ISF) is of recent origin, its corpus

may be inadequate. NCDEs have therefore requested

to permit utilizing interest on IPF in lieu of ISF for

expenditures meant only for ISF. Accordingly, the

NCDEs have been granted 3 years period starting April

1st, 2018 to permit utilizing interest on IPF for activities

of ISF also.

The provisions of this circular shall come into effect immediately.

Read circular no. CIR/CDMRD/DEICE/CIR/P/2017/53 dated June 13, 2017 at https://www.sebi.gov.in/legal/circulars/jun-2017/comprehensive-guidelines-for-investor-protection-fund-investor-service-fund-and-its-related-matters_35095.html

[Circular No.: CIR/CDMRD/DCE/CIR/P/2018/49]

URL: https://www.sebi.gov.in/legal/circulars/mar-2018/clarification-to-circular-pertaining-to-investor-protection-fund-ipf-and-investor-service-fund-isf-_38208.html

SEBI revises limits relating to requirement of underlying exposure for currency derivatives contracts

The Securities and Exchange Board of India (SEBI) circular no. CIR/MRD/DP/20/2014 dated June 20, 2014, specified the limits for the USD-INR, EUR-INR, GBPINR and JPY-INR currency derivatives contracts beyond which market participants were required to establish proof of underlying exposure and SEBI circular no. CIR/MRD/DP/4/2015 dated April 08, 2015, reviewed such limits.

The Reserve Bank of India (RBI) vide A.P. (DIR Series) Circular no. 18 dated February 26, 2018has revised the limits beyond which market participants would be required to establish underlying exposure in the currency derivatives segment.

Accordingly, the SEBI has decided to modify the circular no. CIR/MRD/DP/04/2015 dated April 08, 2015 as under:

(a) Domestic clients / Foreign Portfolio Investors (FPIs)

may take long or short positions without having to

establish existence of underlying exposure, up to a

single limit of USD 100 million equivalent, across all

currency pairs involving INR, put together, and

combined across all the stock exchanges.

(b) FPIs shall ensure that their short positions at all stock

exchanges across all contracts in FCY-INR pairs do not

exceed USD 100 million.

(c) In the event a FPI breaches the short position limit,

stock exchanges shall restrict the FPI from increasing

its existing short positions or creating new short

positions in the currency pair till such time FPI complies

with the said requirement.

(d) To take long positions in excess of USD 100 million in

all contracts in FCY-INR pairs, FPIs shall be required to

have an underlying exposure in Indian debt or equity

securities, including units of equity/debt mutual funds.

(e) Domestic clients may take positions in excess of USD

100 million in all contracts in FCY-INR pairs, subject to

the conditions specified in the RBI A.P. (DIR Series)

Circular no. 147 dated June 20, 2014 and RBI A.P. (DIR

Series) Circular no. 90 dated March 31, 2015.

The onus of complying with the provisions of the RBI A.P. (DIR Series) Circular no. 18 dated February 26, 2018 shall rest with the client / FPI and in case of any contravention, the client shall render itself liable to any action that may be warranted by RBI as per the provisions of Foreign Exchange Management Act, 1999 and Regulations, Directions, etc. framed thereunder. These limits shall be monitored by stock exchanges and/or clearing corporations and breaches, if any, shall be reported to the Market Surveillance Team of Financial Markets Regulation Department (FMRD), RBI. In this regard, stock exchanges /

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clearing corporations shall devise a suitable mechanism to monitor the aforesaid limits, subject to appropriate regulatory concurrence.

This Circular shall supersede SEBI circular no. CIR/MRD/DP/4/2015 dated April 08, 2015 and all other requirements, terms and conditions, as specified vide SEBI circular no. CIR/MRD/DP/20/2014 dated June 20, 2014, shall remain unchanged.

[Circular No.: SEBI/HO/MRD/DP/CIR/P/2018/50]

URL: https://www.sebi.gov.in/legal/circulars/mar-2018/revision-of-limits-relating-to-requirement-of-underlying-exposure-for-currency-derivatives-contracts_38242.html

SEBI (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2018

The Securities and Exchange Board of India (SEBI) has made the SEBI (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2018 to further amend the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) Regulations, 1992.

In the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) Regulations, 1992, in Schedule V, in Part B, in clause 3(1), in the Table, in the row dealing with Commodity derivatives, in the column relating to “Remarks”,-

i. the existing explanation shall be numbered as “(A)”,

and

ii. the following shall be inserted after (A), namely,- “(B) In

case of options contracts, ‘turnover’ shall be computed

on the basis of premium traded for the option contracts

and in case where the option is exercised or assigned, it

shall be additionally computed on the basis of notional

value of option contracts exercised or assigned.”

They shall come into force with retrospective effect from June 13, 2017.

[No. SEBI/LAD-NRO/GN/2018/03]

URL: http://www.egazette.nic.in/WriteReadData/2018/183781.pdf

Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulation, 2018

The Securities and Exchange Board of India (SEBI) on March 13, 2018 has made the SEBI (Mutual Funds) (Amendment) Regulations, 2018 to further amend the SEBI (Mutual Funds) Regulations, 1996.

In the SEBI (Mutual Funds) Regulations, 1996,

I. after Regulation 7A and before Regulation 8, the

following regulation shall be inserted:

“7B. Norms for Shareholding and Governance in Mutual Funds (1) No sponsor of a mutual fund, its associate or group company including the asset management company of the fund, through the schemes of the mutual fund or otherwise, individually or collectively, directly or indirectly, have –

(a) 10% or more of the share-holding or voting

rights in the asset management company or

the trustee company of any other mutual fund;

or

(b) Representation on the board of the asset

management company or the trustee

company of any other mutual fund.

(2) Any shareholder holding 10% or more of the share-holding or voting rights in the asset management company or the trustee company of a mutual fund, shall not have, directly or indirectly, -

(a) 10% or more of the share-holding or voting

rights in the asset management company or

the trustee company of any other mutual fund;

or

(b) Representation on the board of the asset

management company or the trustee

company of any other mutual fund.

(3) Any person not in conformity with the sub-regulations (1) and (2) of this regulation, as on the date of the coming into force of this regulation shall comply with sub-regulations (1) and (2) within a period of one year from the date of the coming into force of this regulation.”

II. in the Seventh Schedule which deals with Restrictions

on Investments, to clause 2, the following proviso shall

be inserted:

“Provided, investment in the asset management company or the trustee company of a mutual fund shall be governed by clause (a), of sub-regulation (1), of regulation 7B.”

[No. SEBI/LAD-NRO/GN/2018/02]

URL: http://www.egazette.nic.in/WriteReadData/2018/183780.pdf

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FSSAI‟s Direction regarding Labelling Requirements for Seasoning

Notification No F.No. Stds/PNVP/Notification(01)/FSSAI-2016 dated August 2, 2017 prescribed the standards for seasoning and other products and subsequent extension of time period for use of existing labels under “seasoning and condiments (Proprietary food)" vide direction dated November 28, 2017.

After due consideration of representations received from various stakeholders, the Food Safety and Standards Authority of India (FSSAI) decided to further extend the permission to use existing labels for seasoning up to June 30, 2018 in alignment with the time allowed for use of old labels in respect of instant noodles. However, Food Business Operators shall comply with standards prescribed for seasoning as specified in the notification.

Read Notification No F.No.Stds/PNVP/Notification(01)/FSSAI-2016 http://www.fssai.gov.in/dam/jcr:2db63f6e-3aaf-4319-a816-198071e7484b/Direction_Labelling_Seasonings_06_12_2017.pdf

[File No. 556.12/Kohinoor/Extn./FSSAI-2017]

URL: http://www.fssai.gov.in/home/WhatsNewAll.html

FSSAI implements Revised Food Safety Inspection checklists

The Food Safety and Standards Authority of India (FSSAI) has revised the inspection checklist for facilitating Food Safety Officers to efficiently inspect the Food Businesses. The revised inspection checklists were placed for comments in the 20th CAC meeting held on August 22, 2017 and was also uploaded on FSSAI's website for comments.

The existing inspection checklist is very general in nature and is not specific to the kind of businesses. The revised inspection checklists are objective in nature linked with marks with each point and shall be used to identify the level of compliance with each requirement that is set out in the FSS Act, 2006, Rules and Regulations made thereunder.

These inspection checklists are based on revised Schedule 4 of Food Safety & Standards (Licensing and Registration of Food Businesses) Regulation, 2011 and have been developed for following kind of businesses -

1. General Manufacturing

2. Milk Processing

3. Meat Processing

4. Slaughter house

5. Catering

6. Retail

7. Transport

8. Storage & warehouse

You are therefore requested to direct the Designated Officers/Food Safety Officers to adopt and implement these revised inspection checklists in their respective area of jurisdiction.

[File No. 14(1)2016/Info/Enf/FSSAI]

URL: http://www.fssai.gov.in/dam/jcr:5f99f433-273b-44e9-b883-1e9762e7e7b4/Letter_Implementation_Revised_Inspection_Checklists_13_03_2018.pdf

FSSAI‟s Direction regarding Permission to use Pre-Printed Packaging Material

The Food Safety and Standards Authority of India (FSSAI) had issued a notification of Food Safety and Standards (Health Supplements, Nutraceuticals, Food for Special Dietary Use, Food for Special Medical Purpose, Functional Food and Novel Food) Regulations, 2016 dated December 23, 2016 and subsequent direction issued vide F. No. Stds/Nutra(DCGI)/FSSAI/2017(Pt.1) dated December 29, 2017,

After due consideration of representations received from various stakeholders, FSSAI has decided to permit the Food Business Operators (FBOs) to use existing labels under Proprietary food for Health Supplements, Nutraceuticals, Food for Special Dietary Use, Food for Special Medical Purpose, Specialty Food containing plant or botanicals, Foods containing Probiotics, Foods containing Prebiotics and Novel Foods up to June 30, 2018.

However, FBOs shall comply with standards prescribed under Food Safety and Standards (Health Supplements, Nutraceuticals, Food for Special Dietary Use, Food for Special Medical Purpose, Functional Food and Novel Food) Regulations, 2016.

[File No. 12(2)2017/F130 Representation/Enf/FSSAI]

URL: http://www.fssai.gov.in/dam/jcr:de2576e7-59cd-452f-843c-63b52b98d5ba/Direction_Pre_Printed_Packaging_15_03_2018.pdf

IRDAI issues clarification on Closure/Dissolution of Corporate Surveyors

Insurance Regulatory and Development Authority of India vide circular dated March 06, 2018 has issued clarification on Closure/Dissolution of Corporate Surveyors. As per Regulation

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4(6)(2) of IRDAI (Insurance Surveyors and Loss Assessors) Regulations, 2015 directors/partners of a corporate surveyor are required to submit material changes about the corporate entity to the Authority within 15 days of such change.

Regulation 13(b) specifies that it is one of the duties and responsibilities of a surveyor and loss assessor to bring to the notice of the Authority, any change in the information or particulars furnished at the time of issuance of license, that has a bearing on the license granted by the Authority, within a period of not exceeding fifteen days from the date of occurrence of such changes.

The Authority hereby advises all corporate surveyors to strictly comply with the regulatory stipulations in letter and spirit. Further, in respect of closure/dissolution of corporate entity, it is mandatory to surrender original license issued along with following:

1. Application for surrender of corporate surveyor license

duly signed by all directors/partners.

2. Affidavit stating that no survey work is pending with

the company/firm and that pending jobs shall be

returned to the insurer or insured before applying for

surrender of corporate license.

3. Original corporate surveyor license issued by the

Authority

4. Certified copy of closure/dissolution of corporate

surveyor

5. Copies of Form-12 of corporate surveyors and

respective directors/partners.

6. Copy of licenses of directors/partner

Licensed surveyors who are directors and partners in corporate entities are hereby cautioned not to take up individual work without modifying /surrendering the corporate surveyor license as prescribed above and that such act shall be deemed as violation of code of conduct prescribed by the Authority invoking regulatory action under Regulation 23 and 24 of IRDAI Surveyors Regulations.

[IRDAI/NL/CIR/MISC/042/03/2018]

URL: https://www.irdai.gov.in/ADMINCMS/cms/whatsNew_Layout.aspx?page=PageNo3416&flag=1

IRDAI releases Exposure Draft on Revision in Premium Rates for Motor Third Party Insurance Covers for the FY 2018-19

The Insurance Regulatory and Development Authority of India (IRDAI) has released the Exposure Draft on Revision in Premium Rates for Motor Third Party Insurance Covers for the Financial

Year 2018-19. IRDAI has proposed the Motor Third Party Insurance premium rates for various types of vehicles as under:-

Private Cars

Two Wheelers

Goods Carrying Vehicles (other than 3 wheelers)

Goods Carrying Motorized Three Wheelers and

Motorized Pedal Cycles Trailers

Four / Three wheeled Vehicles carrying passengers for

hire or reward with carrying capacity not exceeding 6

passengers

Motorized Two Wheelers used for carrying passengers

for hire or reward

Special type of vehicles

Motor Trade (Road Transit Risks)

Motor Trade (Road Risks)(Excluding/Including

Motorized Two Wheelers)

[Ref No. IRDA/NL/MTP/2018-19/EXDRF]

URL: https://www.irdai.gov.in/ADMINCMS/cms/whatsNew_Layout.aspx?page=PageNo3415&flag=1

TRAI extends time for receiving comments on “Consultation Paper on Voice services to LTE users (including VoLTE and CS Fallback)”

The Telecom Regulatory Authority of India (TRAI) had issued a Consultation Paper on voice services to LTE users (including VoLTE and CS Fallback on February 26, 2018 inviting written comments from the stakeholders by March 16, 2018 and counter comments by March 23, 2018.

On request from the stakeholders, the last date for receipt of written comments, if any, from the stakeholders has been extended up to March 28, 2018 and counter comments by April 06, 2018.

Written comments on the Consultation Paper may be sent, preferably in electronic form, to Advisor (QOS) on the e-mail address advqos@trai.gov.in. The comments can also be faxed to 011—23213036. All comments will be posted on the TRAI’s website. For any further clarifications please contact Shri Asit Kadayan, Advisor (QOS) on telephone N0. 011-23230404.

[Press Release No. 33/2018]

URL: http://www.trai.gov.in/sites/default/files/PR_No33_14032018_0.pdf

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Ministry of Consumer Affairs, Food and Public Distribution further extends date for use of stickers/ tags/ online printing till April 31, 2018

The Ministry of Consumer Affairs, Food and Public Distribution has decided to further extend the use of stickers/ tags/ online printing etc. by the manufacturers/ packers/ importers up to April 30, 2018 for making the mandatory declarations required under the Legal Metrology (Packaged Commodities) Rules, 2011.

On the further representations received from several stakeholders, the Ministry has requested the following:

Efforts are to be made to give wide publicity to the

provisions of the Rules in order to spread awareness

amongst manufacturers/ packers/ importers and

retailers etc.

The initial enforcement steps will be in the nature of

investigational surveys. Any deficiency noticed have to

be brought into the notice of the concerned.

Manufacturers/ Packers are being given an opportunity

to update the label declarations. There would be no

prosecution for shortcomings in the labelling

requirements in case of font size, if it does not affect

the consumers.

[WM-10(6)/2018]

URL: https://consumeraffairs.nic.in/writereaddata/Advisory%20for%20smooth%20Implementation%20upto%2030Apr2018.pdf

WDRA launches online process of Renewal of Registration, modifications and Regulatory reporting

Warehousing Development & Regulatory Authority (WDRA) vide circular dated March 09, 2018 has launched the online process of Renewal of Registration, modifications and Regulatory reporting.

it has been decided that with effect from March 19, 2018 no paper based i.e. physical application shall be accepted for the purpose of renewal of registration, modification of registration certificate and updation of regulatory information pertaining to warehousemen/warehouses and all such applications be made only online.

For any assistance in submitting above online applications please contact Shri Akhilesh Mishra, CMS (Email: akhilesh_mishra@cms.co.in) and Shri Devender Singh CDAC IT Expert, (Email: devendersingh@cdac.in ) or at phone no.011- 49536496, 49092994,49092978.

[Circular No.1/2018]

URL: https://wdra.gov.in/documents/32110/175917/Circular+No.+1-2018+Online+process+of+Renwal+of+Registration+modifications+and+regulatory+reporting.pdf/e6a85b54-0dfc-45fc-5401-abfebf803892

DGFT amends Chapter 2 of the Handbook of Procedure (2015-20)

Directorate General of Foreign Trade (DGFT) vide public notice dated March 13, 2018 has issued amendment to the Chapter 2 of the Handbook of Procedure (2015-20). Vide this amendment-

Provisions as at Para 2.86 of the Handbook of Procedure (2015-20) which relates to- ‘Irrevocable Letter of Credit’- In case where applicant applies for duty credit scrip / discharge of EO against confirmed irrevocable letter of credit (or bill of exchange which is 60 unconditionally Avalised / Co-Accepted / Guaranteed by a bank) and this is confirmed and certified by exporter’s bank in relevant Bank Certificate of Export and Realization, payment of export proceeds shall be deemed to have been realized. For Status Holders, irrevocable letter of credit would suffice shall be deleted.

[Public Notice No. 65/ (2015-2020)]

URL: http://dgft.gov.in/Exim/2000/PN/PN17/PN%2065%20eng.pdf

The services in Industry „Any Oil Field to be a Public Utility Service

The Central Government, in public interest, had made the services in Industry ‘‘Any Oil Field’ which is covered by item 17 of the First Schedule to the Industrial Disputes Act, 1947 to be a Public Utility Service for the purpose of the said Act for a period of six months with effect from September 16, 2017.

Now, the Ministry of Labour and Employment has further extended the period by further 6 months of the said Industry to be a Public Utility Service with effect from March 16, 2018

[S.O. 1026(E)]

URL: http://egazette.nic.in/WriteReadData/2018/183632.pdf

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Human Resource

EPFO sets up „MAY I HELP YOU‟ counters to facilitate online claims

Employees Provident Fund Organisation (EPFO) vide circular dated March 09, 2018 has proposed to have a campaign for going paper free during the next 2 months i.e. March & April 2018with focus on verifying Aadhaar for members so that all claims are received online avoiding submission of paper-claims. In this regard, it is decided to set up the separate “MAY I HELP YOU" counters in field offices to facilitate & guide members about filing of online claims.

[No. HRM VIII/2018/Paper Free EPFO/20809]

URL: https://epfindia.gov.in/site_docs/PDFs/Circulars/Y2017-2018/HRM8_Counter_MIHY_20809.pdf

UAN Activated Members Can Know PF Balance Through Missed Call AND SMS Alert

Members registered on the UAN portal may get their details available with EPFO by giving a missed call at 011-22901406 from their registered mobile number. If the UAN of the member is seeded with any one of the Bank A/c number, AADHAAR and PAN, the member will get details of last contribution and PF balance. To avail this facility, mobile number must be activated with UAN at Unified Portal. Giving missed call from registered mobile number at 011-22901406 automatically gets disconnected after two rings. This service is available free of cost to the member. Moreover, these services can be availed from non-smart phones also.

The information for availing missed call facility and SMS service for getting PF balance and last contribution is now available on UMANG app also.

Universal Account Number (UAN) activated members may know their latest PF contribution and balance available with EPFO by sending an SMS at 7738299899 from registered mobile number. The Member has to SMS “EPFOHO UAN” to 7738299899. The facility is available in 10 languages viz. English (default), Hindi, Punjabi, Gujarati, Marathi, Kannada, Telugu, Tamil, Malayalam and Bengali. For receiving SMS in any of the languages other than English, first three characters of the preferred language needs to be added after UAN. For example, to receive SMS in Telugu, then SMS to be send will be “EPFOHO UAN TEL” to 7738299899

SMS should be sent from the registered mobile number of UAN. In response, EPFO will send last PF contribution and balance details of the member alongwith available KYC information.

[(Release ID: 1523909]

URL:http://www.pib.nic.in/PressReleseDetail.aspx?PRID=1523909

ESIC revises monthly contribution to be paid by the ESIC pensioners

Employees’ State Insurance Corporation (ESIC) vide circular dated March 06, 2018 has revised the monthly contribution to be paid by the ESIC pensioners as per the pay matrix of 7th CPC which is as under:

S. No.

Corresponding levels in the Pay Matrix as per 7th CPC

Contribution (Rupees per month)

1 Level : 1 to 5 250/-

2 Level : 6 450/-

3 Level : 7 to 11 650/-

4 Level : 12 & above 1000/-

ESIC has also issued clarification on pensioners who have an option to get their ESIC medical card made by either making contribution on an annual basis (12 months) or by making contribution for 10 (ten) years (120 months) for getting a pensioner card with life-time validity which are as follows:-

(i) Pensioner beneficiaries, who have already obtained

ESIC card with life time validity by paying a lump sum

amount equivalent to 10 years’ contribution, will not be

required to pay any additional amount as a result of the

revision in the rates of contribution for availing ESIC

facility

(ii) Entitlement of pensioners/family pensioners who have

already deposited their contribution for life time ESIC

facility, will not be changed,

(iii) Pensioners who are making contributions on an annual

basis are required to pay their contributions well before

the expiry of the validity period of the card. For this

purpose, all card issuing authorities are required to

issue reminders to the pensioner intimating about the

date well in advance.

(iv) Pensioners/family pensioners who are contributing to

the ESIC on an annual basis and wish to continue to

avail benefits under the Scheme will have to contribute

at the revised rates up to the time of contribution

needed to cover a period of a total of ten years from

the time pensioner ESIC card was issued for the first

time to them, The revised rate of contribution for the

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remaining period would be with reference to the level

of pay that he/she would have drawn in the post held

by him/her (at the time of his/her retirement/death)

had he/ she continued to be in service now but for his/

her retirement/ death”

(v) Any pensioner/ family pensioner who is entitled to avail

ESIC facility has not so far got his/ her pensioner ESIC

card made, the rate of contribution in such cases will be

with reference to the level of pay that he/ she would

have drawn in the post held by him/ her (at the time of

his/her retirement/ death) had he/ she continued to be

in service now but for his/ her retirement/ death,

[No, D-12/16/l/2017-E-VI]

URL: http://www.esic.nic.in/attachments/circularfile/8b4814255ea0f3564f9396f2a2f07108.pdf

ESIC revises rate of interest on General Provident Fund accumulations.

Employees State Insurance Corporation (ESIC) vide office memorandum dated March 14, 2018 has revised the rate of interest on the accumulations of the credit of General Provident Fund as under:-

Sl. No

Period Rate of interest

1 From October 01,2017 to December 31, 2017

7.8% (Seven point eight per cent)

2. From January 01,2018 to March 31, 2018

7.6% (Seven point six per cent)

It is further intimated that GPF interest, if any, calculated and paid in excess of the above mentioned rate of interest, including any final payment authority issued or interest credited in the account of any subscriber be revised accordingly and the excess payment made be recovered.

[N0.A-48/15/13/3/2018-E.III]

URL: http://www.esic.nic.in/attachments/circularfile/24db723d0c035cab525d7e721e6dce1d.pdf

Environment and Health Safety (E.H.S.)

The Gas Cylinders (Second amendment) Rules, 2018

Department of Industrial Policy and Promotion (DIPP) vide notification dated March 15, 2018 has further amended the Gas Cylinders Rules, 2016. Vide this amendment-

In Rule 48, sub-rule (3), shall be substituted which reads

as-The requirement of the “No Objection Certificate”

under sub-rule (1) shall not be applicable for a license in

form F -

(a.) for storage of flammable or toxic or corrosive

gases forming part of cylinder filling plant ; and

(b.) for storage of Liquefied Petroleum Gas in

cylinders, provided “No Objection Certificate”

shall be obtained from the local body such as

Gram Panchayat or the urban local body

concerned.

In Rule 57, new clause (5) shall be inserted which reads

as- Every licence or approval granted under these rules

shall stand cancelled, if the licensee ceases to have any

right to the site of the licensed or approved premises.

[G.S.R. 231(E)]

URL: http://www.egazette.nic.in/WriteReadData/2018/183785.pdf

Master of Dental Surgery Course (1st Amendment) Regulations, 2018

The Dental Council of India vide notification dated March 14, 2018 has issued amendment to the Master of Dental Surgery Course Regulations, 2017. Vide this amendment second proviso in Regulations 7(1) shall be substituted as under:-

“Provided further that when the number of qualifying candidates in the respective categories on the basis of the above mentioned percentile are less than three times the number of vacancies, the cut-off percentile will be automatically lowered in such a manner that the number of eligible candidates shall be minimum three times the number of seats in each respective category”

[No. DE-87(1)-2018]

URL: http://www.egazette.nic.in/WriteReadData/2018/183775.pdf

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Dental Council of India (Establishment of New Dental Colleges, Opening of New or Higher Course of Study or Training and Increase of Admission Capacity in Dental Colleges) (10th Amendment) Regulations, 2018

Dental Council of India vide notification dated March 12, 2018 has further amended the Dental Council of India (Establishment of New Dental Colleges, Opening of New or Higher Course of Study or Training and Increase of Admission Capacity in Dental Colleges) Regulations, 2006. Vide this amendment time schedule for completion of admission process for PG dental courses for all India quota and state quota has been declared as under:-

Sl. No.

Schedule for admission Broad Specialty

All India Quota

State Quota

1 Conduct of entrance examination

Month of January

2 Declaration of the result of the Qualifying Exam/Entrance Exam

Month of February

3 1st round of counseling/admission

Between 12th March to 24th March

Between 4th April to 15th April

4 Last dated for joining/reporting the allotted college and the course

By 3rd April

By 22nd April

5 2nd round of counseling/admission for vacancies

Between 23rd April to 30th April

Between 11th May to 20th May

6 Last date for joining for the 2nd round of counseling/admission

By 10th May

By 27th May

7 Commencement of academic session/term

1st May 1st May

8 Last date up to which students can be admitted/joined against vacancies arising due to any reason

- By 31st May

Note: All India Quota Seats remaining vacant after last date for joining, i.e. 10th May will be deemed to be converted into state quota

[No. DE-22(10)-2018]

URL: http://www.egazette.nic.in/WriteReadData/2018/183776.pdf

Corporate

The Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Amendment Rules, 2018

Ministry of Corporate Affairs (MCA) vide notification dated March 08, 2018 has issued amendment to the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2015. Vide this amendment, in Rule 3, -

New sub-rule (2) shall be inserted which reads as-

“The companies which have filed their financial statements under sub-rule (1) shall continue to file their financial statements and other documents though they may not fall under the class of companies specified therein in succeeding years.”

New sub-rule (3) shall be inserted which reads as-

“The companies which have filed their financial statements under the erstwhile rules, namely the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2011, shall continue to file their financial statements and other documents as prescribed in sub-rule (1) though they do not fall under the class of companies specified therein.”

[G.S.R. 213(E)]

URL: http://www.egazette.nic.in/WriteReadData/2018/183599.pdf

Bihar

Bihar Government extends the date of amnesty for the vehicle owners of tax defaulter under the Bihar Motor Vehicle Taxation Act, 1994

The Government of Bihar vide notification dated March 08, 2018 has extended the date of amnesty for those vehicle owners who are tax defaulter registered/unregistered commercial/Goods carriage vehicle and Tractor-trailers, used in agricultural/commercial activities, granted by the State

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Government which was effective up to the period of six month that is to say up to January 04, 2018 from dated July 05, 2017 is up to June 30, 2018.

[No. 02/Tax(Tractor-trailer amnesty)-42/2012-1663]

URL: http://egazette.bih.nic.in/GazettePublished/194_2_2018.pdf#page=1

Draft Bihar Electricity Regulatory Commission (Compensation to Victims of Electrical Accidents) Regulations, 2018

Bihar Electricity Regulatory Commission (BERC) vide Public Notice dated March 13, 2018 has issued draft Bihar Electricity Regulatory Commission (Compensation to Victims of Electrical Accidents) Regulations, 2018.

These Regulations shall be applicable to the all Generating Companies as well as transmission and distribution licensees in their respective licensed areas in the State of Bihar.

The objectives of these regulations are:-

(a.) protecting the public (including the persons

engaged in the generation, transmission or

distribution or trading) from dangers arising from

the generation, transmission or distribution or

trading of electricity, or use of electricity supplied or

installation, maintenance or use of any electric line or

electrical plant;

(b.) eliminating or reducing the risks of personal injury

to any person, or damage to property of any

person or interference with use of such property

Any Objection or suggestion on the said draft rules may be sent to the Secretary, BERC, Vidyut Bhawan-II, Bailey Road, Patna-800021 on or before April 06, 2018.

[Notice No. 6]

URL: https://berc.co.in/publice-notice/1441-consultative-paper-for-making-bihar-electricity-regulatory-commission-compensation-to-victims-of-electrical-accidents-regulations-2018-strong-span-style-color-000000-comments-suffgestion-invited-by-06-04-2018-span-strong

Karnataka

The Karnataka Goods and Services Tax (Amendment) Rules, 2018

The Government of Karnataka vide notification dated March 07, 2018 has further amended the Karnataka Goods and Services Tax Rules, 2017. Vide this amendment:

In Rule 117, in sub-rule (4), in clause (b), sub-clause (iii)

shall be substituted which reads as-“The registered

person availing the scheme and having furnished the

details of stock held by him and submits a statement in

FORM GST TRAN-2 by 31st March 2018, or within such

period as extended by the Commissioner, on the

recommendations of the Council, for each of the six tax

periods during which the scheme is in operation

indicating therein, the details of supplies of such goods

effected during the tax period;”

Rule 138, the following rule shall be substituted which

reads as-

(1) Every registered person who causes movement of

goods of consignment value exceeding fifty

thousand rupees—

(i) In relation to a supply; or (ii) For reasons other than supply; or (iii) Due to inward supply from an

unregistered person, shall, before commencement of such movement, furnish information relating to the said goods as specified in Part A of FORM GST EWB-01, electronically, on the common portal along with such other information as may be required on the common portal and a unique number will be generated on the said portal.

(2) Where the goods are transported by the

registered person as a consignor or the recipient

of supply as the consignee, whether in his own

conveyance or a hired one or a public conveyance,

by road, the said person shall generate the e-way

bill in FORM GST EWB-01 electronically on the

common portal after furnishing information in

Part B of FORM GST EWB-01

(3) Where the e-way bill is not generated under sub-

rule (2) and the goods are handed over to a

transporter for transportation by road, the

registered person shall furnish the information

relating to the transporter on the common portal

and the e-way bill shall be generated by the

transporter on the said portal on the basis of the

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information furnished by the registered person in

Part A of FORM GST EWB-01

(4) Upon generation of the e-way bill on the common

portal, a unique e-way bill number (EBN) shall be

made available to the supplier, the recipient and

the transporter on the common portal.

(5) Where the goods are transferred from one

conveyance to another, the consignor or the

recipient, who has provided information in Part A

of the FORM GST EWB-01, or the transporter

shall, before such transfer and further movement

of goods, update the details of conveyance in the

e-way bill on the common portal in Part B of

FORM GST EWB-01

(6) After e-way bill has been generated in accordance

with the provisions of sub-rule (1), where multiple

consignments are intended to be transported in

one conveyance, the transporter may indicate the

serial number of e-way bills generated in respect

of each such consignment electronically on the

common portal and a consolidated e-way bill in

FORM GST EWB-02 maybe generated by him on

the said common portal prior to the movement of

goods

(7) Where the consignor or the consignee has not

generated the e-way bill in FORM GST EWB-01

and the aggregate of the consignment value of

goods carried in the conveyance is more than fifty

thousand rupees, the transporter, except in case

of transportation of goods by railways, air and

vessel, shall, in respect of inter-State supply,

generate the e-way bill in FORM GST EWB-01 on

the basis of invoice or bill of supply or delivery

challan, as the case may be, and may also

generate a consolidated e-way bill in FORM GST

EWB-02 on the common portal prior to the

movement of goods

(8) The information furnished in Part A of FORM GST

EWB-01 shall be made available to the registered

supplier on the common portal who may utilize

the same for furnishing the details in FORM

GSTR-1

(9) Where an e-way bill has been generated under

this rule, but goods are either not transported or

are not transported as per the details furnished in

the e-way bill, the e-way bill may be cancelled

electronically on the common portal within

twenty four hours of generation of the e-way bill

(10) An e-way bill or a consolidated e-way bill

generated under rule 138 shall be valid for the

period as under:-

Sr. No

Distance Validity Period

1. Up to 100 km.

One day in cases other than Over Dimensional Cargo

2. For every 100 km. or part thereof thereafter

One additional day in cases other than Over Dimensional Cargo

3. Up to 20 km One day in case of Over Dimensional Cargo

4. For every 20 km. or part thereof thereafter

One additional day in case of Over Dimensional Cargo:

(11) The details of the e-way bill generated under this

rule shall be made available to the(a) supplier, if

registered, where the information in Part A of

FORM GST EWB-01 has been furnished by the

recipient or the transporter; or (b) recipient, if

registered, where the information in Part A of

FORM GST EWB-01 has been furnished by the

supplier or the transporter, on the common

portal, and the supplier or the recipient, as the

case may be, shall communicate his acceptance

or rejection of the consignment covered by the e-

way bill.

(12) Where the person to whom the information

specified in sub-rule (11) has been made available

does not communicate his acceptance or

rejection within seventy two hours of the details

being made available to him on the common

portal, or the time of delivery of goods whichever

is earlier, it shall be deemed that he has accepted

the said details.

(13) The e-way bill generated under this rule or under

rule 138 of the Central Goods and Services Tax

Rules or the Goods and Services Tax Rules of any

State or Union territory shall be valid in the State

and Union territory.

(14) Notwithstanding anything contained in this rule,

no e-way bill is required to be generated —

(a) where the goods being transported are specified in Annexure;

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(b) where the goods are being transported by a non-motorised conveyance;

(c) where the goods are being transported from the customs port, airport, air cargo complex and land customs station to an inland container depot or a container freight station for clearance by Customs;

(d) in respect of movement of such goods and within such areas in the State and for values not exceeding such amount as the Commissioner of State Tax, in consultation with the Principal Chief Commissioner/Chief Commissioner of Central Tax, may, subject to conditions that may be specified, notify;

(e) where the goods, other than de-oiled cake, being transported, are specified in the Schedule appended to Government Notification, Finance Department No. (GHN-36)GST-2017/S.11(1)(1)TH dated the 30th June, 2017, notification No. 2/2017- State tax (Rate) as amended from time to time;

(f) where the goods being transported are alcoholic liquor for human consumption, petroleum crude, high speed diesel, motor spirit (commonly known as petrol), natural gas or aviation turbine fuel;

(g) where the supply of goods being transported is treated as no supply under Schedule III of the Act,

(h) where the goods are being transported — (i) under customs bond from an inland

container depot or a container freight station to a customs port, airport, air cargo complex and land customs station, or from one customs station or customs port to another customs station or customs port, or

(ii) under customs supervision or under customs seal;

(i) where the goods being transported are transit cargo from or to Nepal or Bhutan;

(j) where the goods being transported are exempt from tax under Government Notification, Finance Department No.(GHN-38)GST2017/S.11(1)(3)TH dated the 30th June, 2017, notification No. 7/2017- State Tax (Rate), and Government Notification, Finance Department No.(GHN-86)/GST-2017-S.11(1)(13)-TH dated the 21st September, 2017, notification No. 26/2017-State Tax (Rate) as amended from time to time;

(k) any movement of goods caused by defence formation under Ministry of defence as a consignor or consignee;

(l) where the consignor of goods is the Central Government, Government of any State or a local authority for transport of goods by rail;

(m) where empty cargo containers are being transported; and

(n) where the goods are being transported up to a distance of twenty kilometers from the place of the business of the consignor to a weighbridge for weighment or from the weighbridge back to the place of the business of the said consignor subject to the condition that the movement of goods is accompanied by a delivery challan issued in accordance with Rule 55.

For Rule 138A, the following rule shall be substituted,

namely:

“138A. Documents and devices to be carried by a person-in-charge of a conveyance.-

(1) The person in charge of a conveyance shall carry—

(a) the invoice or bill of supply or delivery challan, as the case may be; and (b) a copy of the e-way bill in physical form or the e-way bill number in electronic form or mapped to a Radio Frequency Identification Device embedded on to the conveyance in such manner as may be notified by the Commissioner: Provided that nothing contained in clause (b) of this sub-rule shall apply in case of movement of goods by rail or by air or vessel.

(2) A registered person may obtain an Invoice Reference

Number from the common portal by uploading, on

the said portal, a tax invoice issued by him in FORM

GST INV-1 and produce the same for verification by

the proper officer in lieu of the tax invoice and such

number shall be valid for a period of thirty days from

the date of uploading.

(3) Where the registered person uploads the invoice

under sub-rule (2), the information in Part A of FORM

GST EWB-01 shall be auto-populated by the common

portal on the basis of the information furnished in

FORM GST INV-1.

(4) The Commissioner may, by notification, require a

class of transporters to obtain a unique Radio

Frequency Identification Device and get the said

device embedded on to the conveyance and map the

e-way bill to the Radio Frequency Identification

Device prior to the movement of goods.

(5) Notwithstanding anything contained in clause (b) of

sub-rule (1), where circumstances so warrant, the

Commissioner may, by notification, require the

person-in-charge of the conveyance to carry the

following documents instead of the e-way bill (a) tax

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invoice or bill of supply or bill of entry; or (b) a

delivery challan, where the goods are transported for

reasons other than by way of supply.”;

For Rule 138B, the following rule shall be substituted,

namely:

“138B. Verification of documents and conveyances.- (1) The Commissioner or an officer empowered by him

in this behalf may authorize the proper officer to

intercept any conveyance to verify the e-way bill in

physical or electronic form for all inter-State and

intra-State movement of goods.

(2) The Commissioner shall get Radio Frequency

Identification Device readers installed at places

where the verification of movement of goods is

required to be carried out and verification of

movement of vehicles shall be done through such

device readers where the e-way bill has been mapped

with the said device.

(3) The physical verification of conveyances shall be

carried out by the proper officer as authorised by the

Commissioner or an officer empowered by him in this

behalf: Provided that on receipt of specific

information on evasion of tax, physical verification of

a specific conveyance can also be carried out by any

other officer after obtaining necessary approval of

the Commissioner or an officer authorised by him in

this behalf.”;

For Rule 138C, the following rule shall be substituted,

namely:

“138C. Inspection and verification of goods.- (1) A summary report of every inspection of goods in

transit shall be recorded online by the proper officer

in Part A of FORM GST EWB-03 within twenty four

hours of inspection and the final report in Part B of

FORM GST EWB-03 shall be recorded within three

days of such inspection.

(2) Where the physical verification of goods being

transported on any conveyance has been done

during transit at one place within the State or Union

territory or in any other State or Union territory, no

further physical verification of the said conveyance

shall be carried out again in the State or Union

territory, unless a specific information relating to

evasion of tax is made available subsequently.”;

For Rule 138D, the following rule shall be substituted,

namely:

“138D. Facility for uploading information regarding detention of vehicle.- Where a vehicle has been intercepted and detained for a period exceeding thirty minutes, the

transporter may upload the said information in FORM GST EWB-04 on the common portal.”;

FORM GST EWB-01, FORM GST EWB-02, FORM GST EWB-

03, FORM GST EWB-04 and FORM GST INV-1 have also

been substituted.

URL: http://gst.kar.nic.in/Documents/NOTIFICATIONS/Notification-12-2018-central_tax-English.pdf

Karnataka Government rescinds the notification related to waiving off the amount of late fee payable on failure to furnish return in form GSTR-5A by the due date

The Government of Karnataka vide notification dated March 07, 2018 on recommendation of the council has rescind the notification which relates to waiving off the amount of late fee payable by any registered person on failure to furnish return in form GSTR-5A by the due date under section 47 of the Karnataka Goods and Services Tax Rules, 2017.

URL: http://gst.kar.nic.in/Documents/NOTIFICATIONS/Notification-13-2018-central_tax-English.pdf

Maharashtra

Draft MERC (Forecasting, Scheduling and Deviation Settlement for Solar and Wind Generation) Regulations, 2018

The Maharashtra Electricity Regulatory Commission (MERC)’s has issued draft Forecasting, Scheduling and Deviation Settlement for Solar and Wind Generation Regulations, 2018.

The objectives of these regulations are as under:-

These Regulations are intended to facilitate Grid

integration of Wind and Solar energy generated in

Maharashtra while maintaining Grid stability and

security as envisaged under the State Grid Code and

the Act, through forecasting, scheduling and a

mechanism for the settlement of deviations by such

Generators.

In order to maintain system security, stability and

reliability, the SLDC shall take into consideration the

forecasts of Wind and Solar generation for Week-

Ahead, Day-Ahead and intra-Day operations and

scheduling, and longer term forecasts for its planning.

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The SLDC shall make use of the flexibility provided by

conventional Generating Units and the capacity of

inter-Grid tie-lines to accommodate Wind and Solar

energy generation to the largest extent possible

subject to Grid security

These Regulations shall apply to all Wind and Solar Energy Generators in Maharashtra connected to the Intra-State Transmission System, including those connected through Pooling Sub-Stations, and using the power generated for self-consumption or sale within or outside the State:

Any Objection or suggestion on the said draft rules may be sent to the Secretary, MERC, 13th floor, Centre No.1, World Trade Centre, Cuffe Parade, Mumbai 400005 personally or by post; or sent by E-mail:-mercindia@merc.gov.in. on or before March 30, 2018.

URL: http://www.mercindia.org.in/pdf/Order%2058%2042/Public._Notice_F&S_Regulation-English.pdf

Draft Regulation: http://www.mercindia.org.in/pdf/Order%2058%2042/Draft_Regulation_F&S_Regulation-English.pdf

Maharashtra State Juvenile Justice (Care and Protection of Children) Rules, 2018

The Women and Child Development department of the State Government of Maharashtra, on March 14, 2018 has published the Maharashtra State Juvenile Justice (Care and Protection of Children) Rules, 2018.

Child Care Institutions play a major role in Juvenile Justice (Care and Protection of Children) Rules. According to the Rules, every Child Care Institution has to evolve a system to ensure that there is no abuse, neglect and maltreatment and shall include the staff who is aware of what constitutes abuse, neglect and maltreatment, and their early indication and how to respond to these abuses. The Child Care Institutions are to employ 25 staff members for every 50 children in their care. The Rules requires maintenance of 31 Registers which are to be kept by House Parent, Person in Charge, Security Guard, In charge of Security etc. of a Child Care Institution. Each Child Care Institution shall have a Management Committee for the management of the institution and monitoring the progress of every child in the home as per the Individual Care Plan.

[Section: Part IV-A, Extraordinary No. 64 dated 14th March 2018]

URL: https://egazzete.mahaonline.gov.in/Forms/GazetteSearch.aspx

West Bengal

West Bengal Goods and Services Tax (Second Amendment) Rules, 2018

The State Government of West Bengal vide notification dated March 07, 2018 has further amended the West Bengal Goods and Services Tax Rules, 2017. Vide this amendment:

In Rule 117, in sub-rule (4), in clause (b), sub-clause (iii)

shall be substituted which reads as-“The registered

person availing the scheme and having furnished the

details of stock held by him and submits a statement in

FORM GST TRAN-2 by 31st March 2018, or within such

period as extended by the Commissioner, on the

recommendations of the Council, for each of the six tax

periods during which the scheme is in operation

indicating therein, the details of supplies of such goods

effected during the tax period;”

Rule 138, the following rule shall be substituted which

reads as-

(15) Every registered person who causes movement of

goods of consignment value exceeding fifty

thousand rupees—

(iv) In relation to a supply; or (v) For reasons other than supply; or (vi) Due to inward supply from an

unregistered person, shall, before commencement of such movement, furnish information relating to the said goods as specified in Part A of FORM GST EWB-01, electronically, on the common portal along with such other information as may be required on the common portal and a unique number will be generated on the said portal.

(16) Where the goods are transported by the

registered person as a consignor or the recipient

of supply as the consignee, whether in his own

conveyance or a hired one or a public conveyance,

by road, the said person shall generate the e-way

bill in FORM GST EWB-01 electronically on the

common portal after furnishing information in

Part B of FORM GST EWB-01

(17) Where the e-way bill is not generated under sub-

rule (2) and the goods are handed over to a

transporter for transportation by road, the

registered person shall furnish the information

relating to the transporter on the common portal

and the e-way bill shall be generated by the

transporter on the said portal on the basis of the

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information furnished by the registered person in

Part A of FORM GST EWB-01

(18) Upon generation of the e-way bill on the common

portal, a unique e-way bill number (EBN) shall be

made available to the supplier, the recipient and

the transporter on the common portal.

(19) Where the goods are transferred from one

conveyance to another, the consignor or the

recipient, who has provided information in Part A

of the FORM GST EWB-01, or the transporter

shall, before such transfer and further movement

of goods, update the details of conveyance in the

e-way bill on the common portal in Part B of

FORM GST EWB-01

(20) After e-way bill has been generated in accordance

with the provisions of sub-rule (1), where multiple

consignments are intended to be transported in

one conveyance, the transporter may indicate the

serial number of e-way bills generated in respect

of each such consignment electronically on the

common portal and a consolidated e-way bill in

FORM GST EWB-02 maybe generated by him on

the said common portal prior to the movement of

goods

(21) Where the consignor or the consignee has not

generated the e-way bill in FORM GST EWB-01

and the aggregate of the consignment value of

goods carried in the conveyance is more than fifty

thousand rupees, the transporter, except in case

of transportation of goods by railways, air and

vessel, shall, in respect of inter-State supply,

generate the e-way bill in FORM GST EWB-01 on

the basis of invoice or bill of supply or delivery

challan, as the case may be, and may also

generate a consolidated e-way bill in FORM GST

EWB-02 on the common portal prior to the

movement of goods

(22) The information furnished in Part A of FORM GST

EWB-01 shall be made available to the registered

supplier on the common portal who may utilize

the same for furnishing the details in FORM

GSTR-1

(23) Where an e-way bill has been generated under

this rule, but goods are either not transported or

are not transported as per the details furnished in

the e-way bill, the e-way bill may be cancelled

electronically on the common portal within

twenty four hours of generation of the e-way bill

(24) An e-way bill or a consolidated e-way bill

generated under rule 138 shall be valid for the

period as under:-

Sr. No

Distance Validity Period

1. Up to 100 km.

One day in cases other than Over Dimensional Cargo

2. For every 100 km. or part thereof thereafter

One additional day in cases other than Over Dimensional Cargo

3. Up to 20 km One day in case of Over Dimensional Cargo

4. For every 20 km. or part thereof thereafter

One additional day in case of Over Dimensional Cargo:

(25) The details of the e-way bill generated under this

rule shall be made available to the(a) supplier, if

registered, where the information in Part A of

FORM GST EWB-01 has been furnished by the

recipient or the transporter; or (b) recipient, if

registered, where the information in Part A of

FORM GST EWB-01 has been furnished by the

supplier or the transporter, on the common

portal, and the supplier or the recipient, as the

case may be, shall communicate his acceptance

or rejection of the consignment covered by the e-

way bill.

(26) Where the person to whom the information

specified in sub-rule (11) has been made available

does not communicate his acceptance or

rejection within seventy two hours of the details

being made available to him on the common

portal, or the time of delivery of goods whichever

is earlier, it shall be deemed that he has accepted

the said details.

(27) The e-way bill generated under this rule or under

rule 138 of the Central Goods and Services Tax

Rules or the Goods and Services Tax Rules of any

State or Union territory shall be valid in the State

and Union territory.

(28) Notwithstanding anything contained in this rule,

no e-way bill is required to be generated —

(o) where the goods being transported are specified in Annexure;

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(p) where the goods are being transported by a non-motorised conveyance;

(q) where the goods are being transported from the customs port, airport, air cargo complex and land customs station to an inland container depot or a container freight station for clearance by Customs;

(r) in respect of movement of such goods and within such areas in the State and for values not exceeding such amount as the Commissioner of State Tax, in consultation with the Principal Chief Commissioner/Chief Commissioner of Central Tax, may, subject to conditions that may be specified, notify;

(s) where the goods, other than de-oiled cake, being transported, are specified in the Schedule appended to Government Notification, Finance Department No. (GHN-36)GST-2017/S.11(1)(1)TH dated the 30th June, 2017, notification No. 2/2017- State tax (Rate) as amended from time to time;

(t) where the goods being transported are alcoholic liquor for human consumption, petroleum crude, high speed diesel, motor spirit (commonly known as petrol), natural gas or aviation turbine fuel;

(u) where the supply of goods being transported is treated as no supply under Schedule III of the Act,

(v) where the goods are being transported — (iii) under customs bond from an inland

container depot or a container freight station to a customs port, airport, air cargo complex and land customs station, or from one customs station or customs port to another customs station or customs port, or

(iv) under customs supervision or under customs seal;

(w) where the goods being transported are transit cargo from or to Nepal or Bhutan;

(x) where the goods being transported are exempt from tax under Government Notification, Finance Department No.(GHN-38)GST2017/S.11(1)(3)TH dated the 30th June, 2017, notification No. 7/2017- State Tax (Rate), and Government Notification, Finance Department No.(GHN-86)/GST-2017-S.11(1)(13)-TH dated the 21st September, 2017, notification No. 26/2017-State Tax (Rate) as amended from time to time;

(y) any movement of goods caused by defence formation under Ministry of defence as a consignor or consignee;

(z) where the consignor of goods is the Central Government, Government of any State or a local authority for transport of goods by rail;

(aa) where empty cargo containers are being transported; and

(bb) where the goods are being transported up to a distance of twenty kilometers from the place of the business of the consignor to a weighbridge for weighment or from the weighbridge back to the place of the business of the said consignor subject to the condition that the movement of goods is accompanied by a delivery challan issued in accordance with Rule 55.

For Rule 138A, the following rule shall be substituted,

namely:

“138A. Documents and devices to be carried by a person-in-charge of a conveyance.-

(1) The person in charge of a conveyance shall carry—

(a) the invoice or bill of supply or delivery challan, as the case may be; and (b) a copy of the e-way bill in physical form or the e-way bill number in electronic form or mapped to a Radio Frequency Identification Device embedded on to the conveyance in such manner as may be notified by the Commissioner: Provided that nothing contained in clause (b) of this sub-rule shall apply in case of movement of goods by rail or by air or vessel.

(6) A registered person may obtain an Invoice Reference

Number from the common portal by uploading, on

the said portal, a tax invoice issued by him in FORM

GST INV-1 and produce the same for verification by

the proper officer in lieu of the tax invoice and such

number shall be valid for a period of thirty days from

the date of uploading.

(7) Where the registered person uploads the invoice

under sub-rule (2), the information in Part A of FORM

GST EWB-01 shall be auto-populated by the common

portal on the basis of the information furnished in

FORM GST INV-1.

(8) The Commissioner may, by notification, require a

class of transporters to obtain a unique Radio

Frequency Identification Device and get the said

device embedded on to the conveyance and map the

e-way bill to the Radio Frequency Identification

Device prior to the movement of goods.

(9) Notwithstanding anything contained in clause (b) of

sub-rule (1), where circumstances so warrant, the

Commissioner may, by notification, require the

person-in-charge of the conveyance to carry the

following documents instead of the e-way bill (a) tax

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invoice or bill of supply or bill of entry; or (b) a

delivery challan, where the goods are transported for

reasons other than by way of supply.”;

For Rule 138B, the following rule shall be substituted,

namely:

“138B. Verification of documents and conveyances.- (4) The Commissioner or an officer empowered by him

in this behalf may authorize the proper officer to

intercept any conveyance to verify the e-way bill in

physical or electronic form for all inter-State and

intra-State movement of goods.

(5) The Commissioner shall get Radio Frequency

Identification Device readers installed at places

where the verification of movement of goods is

required to be carried out and verification of

movement of vehicles shall be done through such

device readers where the e-way bill has been mapped

with the said device.

(6) The physical verification of conveyances shall be

carried out by the proper officer as authorised by the

Commissioner or an officer empowered by him in this

behalf: Provided that on receipt of specific

information on evasion of tax, physical verification of

a specific conveyance can also be carried out by any

other officer after obtaining necessary approval of

the Commissioner or an officer authorised by him in

this behalf.”;

For Rule 138C, the following rule shall be substituted,

namely:

“138C. Inspection and verification of goods.- (3) A summary report of every inspection of goods in

transit shall be recorded online by the proper officer

in Part A of FORM GST EWB-03 within twenty four

hours of inspection and the final report in Part B of

FORM GST EWB-03 shall be recorded within three

days of such inspection.

(4) Where the physical verification of goods being

transported on any conveyance has been done

during transit at one place within the State or Union

territory or in any other State or Union territory, no

further physical verification of the said conveyance

shall be carried out again in the State or Union

territory, unless a specific information relating to

evasion of tax is made available subsequently.”;

For Rule 138D, the following rule shall be substituted,

namely:

“138D. Facility for uploading information regarding detention of vehicle.- Where a vehicle has been intercepted and detained for a period exceeding thirty minutes, the

transporter may upload the said information in FORM GST EWB-04 on the common portal.”;

FORM GST EWB-01, FORM GST EWB-02, FORM GST EWB-

03, FORM GST EWB-04 and FORM GST INV-1 have also

been substituted.

[Notification No. 281-F.T.]

URL: http://www.wbcomtax.gov.in/GST/GST_Notifications/281-FT_20180307.pdf

West Bengal Government rescinds notification which waived off late fee for GSTR-5A

The Government of Gujarat, on the recommendations of the Council, has rescinded Notification No. 120-F.T dated January 24, 2018.

Notification No. 120-F.T waived the amount of late fee payable by any registered person for failure to furnish the return in FORM GSTR5A by the due date under Section 47 of the West Bengal Goods and Services Tax Act, 2017, which is in excess of an amount of twenty-five rupees (Rs. 25) for every day during which such failure continues.

Read Notification No. 120-F.T at http://www.wbcomtax.gov.in/GST/GST_Notifications/120-FT_20180124.pdf

[Notification No. 282-F.T.]

URL: http://www.wbcomtax.gov.in/GST/GST_Notifications/282-FT_20180307.pdf

AVANTIS WEEKLY NEWSLETTER | ISSUE 3 OF MARCH 2018 26

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March 19, 2018

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