GST:
An Ordinance to provide for the extension of the Central Goods and Services Tax Act, 2017 and Integrated Goods and Services Tax Act, 2017 to the State of Jammu and Kashmir. The Goods and Services Tax has been introduced in the whole of India except the State of Jammu and Kashmir with effect from the 22nd day of June, 2017 and the Legislative Assembly of the State of Jammu and Kashmir has passed the resolution adopting the provisions of the Constitution (One Hundred and First Amendment) Act, 2016. The Constitution (Application to Jammu and Kashmir) Amendment Order, 2017 has been issued by the President extending the provisions of the Constitution (One Hundred and First Amendment) Act, 2016 to the State of Jammu and Kashmir and the State has proposed to implement the goods and services tax in the said State with effect from the 8th day of July, 2017. The provisions of the Central Goods and Services Tax Act, 2017 and Integrated Goods and Services Tax Act, 2017 are required to be extended to the State of Jammu and Kashmir. As Parliament is not in session and the President is satisfied that circumstances exist which render it necessary for him to take immediate action.
SEBI
SEBI has notified, amendment to Investor Grievance Redressal System and Arbitration Mechanism. In order to further enhance the effectiveness of grievance Redressal mechanism at Market Infrastructure Institutions (MIIs), based on the internal deliberations, discussions and feedback as received from MIIs, it has been decided to add/modify certain provisions in the existing process. In order to enhance transparency and also to provide choice to parties, Exchanges shall disseminate information w.r.t. brief profile, qualification, areas of experience/expertise, number of arbitration matters handled, pre-arbitration experience, etc. of the arbitrators on their website. In order to assist the arbitrators in pronouncing comprehensive and speedy awards, Exchanges shall make necessary arrangements in terms of hardware. There shall be separate panels for arbitration and appellate arbitration. Further, for appellate arbitration, at least one member of the panel shall be a Retired Judge. Exchanges shall obtain prior approval of SEBI before empanelment of arbitrators/appellate arbitrators.