Corporate Updates – 08-12-2016

Master Classes on GST:

Registration open for Master Classes on “GST – Goods& Service Tax” to be held from 13th December, 2016 to 17th December, 2016 daily from 5 PM onwards at Auditorium, ICSI-NIRC Building, 4, Prasad Nagar Institutional Area, New Delhi. Fee : Rs. 750/- for all participants including Corporate Members of NIRC; Online Payment / Registration Facility Available; Program Credit Hours: 02 per day.


MCA has revised the version of e-forms : SPICE MOA (eMemorandum of Association), e-Form INC-29 (Integrated Incorporation Form) has been withdrawn. INC-29 e-Form will no longer be available on the MCA21 portal and stakeholders will not be able to file any previously downloaded versions from this date. Stakeholders are requested to plan accordingly and use SPICe (Simplified Proforma for Incorporating Company electronically), INC-2 (Incorporation of One Person Company), or INC-7 (Incorporation of Company) e-Forms, as applicable. Stakeholders are advised to check the latest version before filing.


RBI announced the withdrawal of the incremental cash reserve ratio (CRR). With the enhancement in the ceiling for issue of securities under the Market Stabilization Scheme (MSS) to 6,000 billion, it has been decided to withdraw the incremental CRR which will be effective from December 10, 2016. Earlier on November 26, 2016 the Reserve Bank had announced an incremental cash reserve ratio (CRR) of 100 per cent of the increase in net demand and time liabilities (NDTL) of scheduled banks between September 16, 2016 and November 11, 2016. The liquidity released by the discontinuation of the incremental CRR would be absorbed by a mix of MSS issuances and liquidity adjustment facility (LAF) operations.

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