Corporate Updates – 26-07-2017


MCA has received requests from stakeholders to clarify the financial year(s) in respect of which the requirements of reporting under section 143(3)(i) of the Companies Act 2013 shall not apply to certain private companies as exempted through notification dated 13-06-2017, shall be applicable. MCA has clarified that exemption to private companies as provided in respect of Auditors’ Report on internal financial control, shall be applicable for those audit reports in respect of financial statements pertaining to financial years commencing on or after 1stApril, 2016, which are made on or after the date of the said notification.

CBEC – Customs:

The Central Board of Excise and Customs has decided to extend the Single Window Interface for Facilitation of Trade(SWIFT) in Exports with WCCB to all EDI locations. Earlier this year, SWIFT was extended on export side to online clearance for CITES/ wild life items on pilot basis at Chennai, Mumbai, Delhi Air Cargo Complexes. Under this procedure, Shipping Bills filed on ICEGATE or through the Service Centre were referred online to the Wild Life Crime Control Bureau (WCCB) for a ‘No Objection Certificate’ (NOC), if any required for CITES/wildlife items. It has now been decided to extend online referral of WCCB to all Customs EDI locations with effect from 31st July, 2017. The mapping of Customs EDI locations to WCCB offices shall remain the same as it was for imports. The Local System Managers of ICES shall map the roles in ICES to the respective officers from WCCB. These roles have been defined as part of the SW NOC module in Exports and are outlined in the user manual developed by DG (Systems).

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