Corporate Updates – 25-04-2017


The Ministry of Labour And Employment with intent to promote the ease of compliance of Labour Laws and Rules by various establishments has notified The Rationalisation of Forms and Reports under Certain Labour Laws Rules, 2017 which shall come into force on the date of their publication in the Official Gazette i.e 28-03-2017. The intention is to provide for combined and simplified forms and reports is to sub-serve the purposes, electronically or otherwise, of the said labour related laws and the rules made thereunder, wherein provisions have been made for use of such forms and reports. These Rules have reduced the number of forms and reports prescribed under 3 Acts and the Rules made thereunder from 36 to 12. The overall aim of the exercise is to make the forms and reports easy to understand for the users. This will save efforts, costs and lessen the compliance burden of various establishments. The Labour Laws under which these forms are filed include The Contract Labour (Regulation and Abolition) Act, 1970; The Inter-State Migrant Workmen (Regulation of Employment and Conditions of Service) Act, 1979 and The Building and Other Construction Workers (Regulation of Employment and Conditions of Service) Act, 1996.

CBEC – Central Excise

CBEC has notified the amendment to the Cenvat Credit Rules, 2004. These rules may be called the Cenvat Credit (Second Amendment) Rules, 2017 which shall come into force on the 23rd day of April, 2017. The CBEC seeks to amend CENVAT credit Rules, 2004 to allow the importer of the goods to take Cenvat credit on basis of the challan of payment of service tax by the said importer on the services provided by a foreign shipping line to a foreign charterer w.r.t. goods destined for India.

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