01/08/2020
Central Board of Indirect Taxes and Customs has notified e-invoicing for businesses with turnover above Rs 500 crore, increasing the threshold for mandatory issuing of electronic invoices from the earlier limit of Rs 100 crore turnover, providing relief to small scale companies. Further, units in Special Economic Zones (SEZs) are not required to follow e-invoicing rules, the government has said in the notification dated July 29.
2. Securities Exchange Board of India has introduced a new scheme vide Public Notice dated 27th July, 2020 called Settlement Scheme (“the Scheme”) in terms of Regulation 26 of SEBI (Settlement Proceedings) Regulations 2018.
3. SEBI has issued a circular to further extended the timelines for compliance with the regulatory requirements by the Depository Participants (DPs)/Registrars to an Issue & Share Transfer Agents (RTAs)and KYC Registration Agency (KRA) mentioned in the SEBI circulars. the extensions shall be made effective for the processing of Demat request form by issuer/ RTA or by Participants now carry a period of exclusion from 23rd March, 2020 till 30th September, 2020.
4. Insurance Regulatory and Development Authority Act, 1999 (41 of 1999), the Central Government hereby makes the rules to amend the Insurance Regulatory and Development Authority of India (Regulation of Insurance Business in Special Economic Zone) Rules, 2015.
5. Bombay High Court has upheld the arbitral award allowing monetary claims of agri-business giant The Uttar Pradesh RERA (UP RERA) this week approved an order allowing the homebuyers' association of a project in Noida to take charge of the completion of four stuck towers and the remaining 300-odd units.
