Compliance Chambers

The MCA has initiated the discussion with various regulators including SEBI, RBI and DPIIT on the probability of creating a single e-compliance window for companies. This new initiative will help the companies in complying with the different regulatory requirements in a uniform manner. The intention is to reduce the compliance burden on the companies.  After launching of faceless assessment under Income Tax, one nation on tax and National Health Digital Mission, this initiative of the e-compliance window will boost the economy, bring more feasibility and transparency in the compliance. This portal will prevent the companies from falling into duplicity of the filings and it will help in the ease of doing business.  Companies at present have to make multiple filings. Different regulators have different requirements and formats for the submission of data. Once the common platform is in place, companies can file all their data in one place and regulators can get their data from one source.

CBIC, has strived to provide the facilitation tool for the trade and the citizens - "THE COMPLIANCE INFORMATION PORTAL". It provides information related to Laws, step by step Procedures and Acts of Customs and all Partner Government Agencies (PGAs) regulating Import and export of commodities of 10000 plus Tariff Headings on a single portal developed by the Central Board of Indirect Taxes and Customs (CBIC). FEATURES OF COMPLIANCE INFORMATION PORTAL  Once the user login to CIP the information may be obtained by entering either  4 to 8 digit Customs Tariff Heading or  Description of Commodity It covers 3 stages of Import and Export -  Prepare for Import and Prepare for Export,  Pre-Import and Pre-Export,  Import and Export Provides stage-wise detailed process flow chart for all procedures of export for exporting any commodity covered under the Customs tariff Act, 1975. The process flow chart covers all basic steps required from preparing for import to Out of Charge from Customs

The Honourable Prime Minister  launched the National Digital Health Mission (NDHM), an initiative to digitise health records of Indians. NDHM will bring a new revolution in India's health sector and technology will be used prudently to reduce the challenges in treatment.  As per NDHM, every Indian will be given a Health ID. The Health ID will work like a Health Account of every Indian. The account will contain details of every test, every disease, the doctors you visited, the medicines prescribed and the diagnosis.  The National Digital Health Mission will eliminate all these difficulties related to appointments with a doctor, depositing money, making a slip in the hospital, etc.   It is an ambitious plan to create a digital infrastructure for health care delivery, which will include personal health IDs and e-records for citizens. This will greatly facilitate telemedicine, e-pharmacy, and collection, consolidation and interoperability of health data.  At a recent roundtable organis

  The honourable prime minister has unveiled a new tax reform by launching a platform “transparent taxation- honouring the honest” with the effect from 14 th August 2020. The purpose of this platform is to meet the requirements of the 21st century taxation system . The newly introduced platform has major reforms like Faceless Assessment, Faceless Appeal and Taxpayers Charter. The Faceless Assessment and Taxpayers Charter have come into force from 14 th August 2020, while the facility of faceless appeal will be available for citizens across the country from 25th September. The recently inaugurated platform will work in the same direction with the aim of government of “Banking the Unbanked, Securing the Unsecured and Funding the Unfunded”. The new facilities launched today are a part of the Government’s resolve to provide maximum governance with minimum government. The main aim is that every rule, law and policy are made with an emphasis of them being people centric, public friendly r

INTRODUCTION Cold storage is the storage of any temperature-controlled substance that prevents that substance from decaying and help in maintaining their quality. It is the large refrigerated room designed for the storage of goods at the required temperature. The products of perishable nature can be stored in it like vegetables, fruits and frozen meat products. SCENARIO IN INDIA India is the largest producer of milk and the second-largest producer of fruits Total food grain production stands at 255 MT, whereas the horticultural output is more than 268 MT 20-30% Food items are decayed every year. Rs.21000 crore will be invested in setting up of cold storage to address the problem of stockpiling of perishable commodities ADVANTAGES OF COLD STORAGE A.    Wide range of uses Cold storage rooms are temperature adjustable, they can be used for different functions by adjusting the temperature to change from a drying room to help control the moisture content of the products being sto

The central government has notified the Consumer Protection (E-Commerce) Rules, 2020 on 24th July 2020 vide notification-bearing no. G.S.R. 462(E). These new rules complement the consumer protection Act, 2019 concerning the protection of the consumers from unfair trade practices, predatory pricing and providing misleading information on portals. The Consumer Protection Act, 2019, which has come into effect from July 2020, did bring e-commerce entities under its preview to protect the consumer not only from the traditional platforms but also from the e-commerce model. The following features of the new notified rule are as follows: Definition of e-commerce entity : It means any person who owns, operates or manages digital or electronic facility or platform for electronic commerce, but does not include a seller offering his goods or services for sale on a marketplace e-commerce entity; An e-commerce entity shall be an incorporated company and the Ministry of Consumer Affairs shall reg