EXTENSION OF E-PAYMENT DEADLINE AND OF BANKING HOURS

Circular No. 191/01/2016-Service Tax, Dated: March 29, 2016

The Reserve Bank of India (“RBI”) has issued instructions vide notification RBI/2015-16/342 dated March 17, 2016 wherein it has been decided that all agency banks shall keep the counters of their designated branches conducting government business open for full day on March 30, 2016, and till 8.00 p.m. on March 31, 2016.

All electronic transactions would, however, continue till midnight of March 31, 2016. Thus, the Assessees can make e-payment till the mid night of March 31, 2016.

It is requested that the trade notice may be issued to publicize the extended e-payment hours as well as the extended banking hours.

Link to download the notification:-

http://www.cbec.gov.in/resources//htdocs-servicetax/st-circulars/st-circulars-2016/st-circ-191-2016.pdf

KEY HIGHLIGHTS OF DELHI BUDGET 2016-17

KEY HIGHLIGHTS OF DELHI BUDGET 2016-17

The Aam Aadmi Party (“AAP”) presented a “Zero Tax” budget for 2016-17 to the Delhi Assembly on 28 March, 2016.

Deputy Chief Minister of delhi Mr. Manish Sisodia has presented the annual budget for 2016-17 amounting to rupees Rs. 46,600 crore, pegging plan outlay at Rs. 20,600 crore and a non-planned outlay of Rs. 26,000 crore.

Here are some of the point wise key statements made by Mr. Sisodia in his budget speech.

SCHOOL EDUCATION:-

Rs. 102 crore has been set aside for recruitment of new teachers and for training existing teachers in Delhi.

All government school classrooms will be enabled with CCTV cameras. Government has allocated Rs. 100 for the purpose.

Providing adequate sports facilities is an important part of school education. Rs. 48 crore has been allocated for the improvement of sports facilities in government schools.

HIGHER EDUCATION:-

Government plans to establish 100 smart career colleges for skills development and training. The government plans a budgetary allocation of about Rs. 152 crores for vocational training.

A total of Rs. 10,690 crore has been allocated for education sector; this constitutes about 23 percent of the total budget.

HEALTHCARE:-

Healthcare is another focus area of the Delhi Government. About 1000 new Mohalla clinics, 100 polyclinics, and 10,000 beds (in government hospitals) will be added this financial year.

Rs. 5259 crore has been allocated for health care (including Rs. 3200 crore planned budget); this constitutes about 16 per cent of the total budgetary outlay.

PUBLIC TRANSPORT SYSTEM:-

Subsidy on e-rickshaws in Delhi has been increased from Rs. 15000 crore to Rs. 30000 crore.

1000 new non-AC buses will be introduced this FY.

Rs. 325 crore has been allocated for improvement of bus services in Delhi.

Two new elevated BRT corridors (from Anand Vihar to Peeragarhi and from Wazirabad to Airport) are to be constructed this year. 11 existing roads will be redesigned with safety mechanisms for cyclists. Rs. 2208 crore has been allocated for this purpose.

Government has allocated Rs. 763 crore for the maintenance of Delhi metro.

TACKLING POLLUTION:-

Vacuum cleaners will be used to clean road and curb pollution. Rs. 100 crore has been allocated to make Delhi roads cleaner and greener.

WOMEN’S SAFETY:-

Rs. 114 crores has been allocated to light up about 42,000 dark areas in Delhi for the Safety and security purposes.

Rs. 200 crore shall be allocated to Mohalla Rakshak Dal in all constituencies for safety of the women.

A further Rs. 200 crore will be allocated for setting up CCTVs across the city. A working women’s hostel will be set up in Dwarka.

INFRASTRUCTURE:-

Late payment fines on disputed water bills have been waived and people have been given incentives to install new meters. Rs. 178 crore has been collected due to such installations.

Rs. 2466 crore has been set aside for development of the city’s infrastructure.

Roads and drains will be constructed by the DSIIDC in unauthorised colonies. Rs. 300 crore has been set aside for this purpose. This will include rehabilitation of slums in Delhi.

Rs. 350 crores has been allocated for Swaraj implementation to Mohalla sabhas.

Wi-Fi projects in buses, Burari, and some NDMC areas have been launched. More efficient systems will be introduced.

DELHI TOURISM:-

The tourism sector will receive Rs. 10 crore to boost tourism in Delhi.

The tourism board will hold a Delhi festival that will showcase the city’s rich culture, food, and films. Rs. 30 crore has been allocated to build Brand Delhi.

REDUCTION OF VAT:-

To keep VAT at par with neighbouring states, the Deputy CM announced a reduction of VAT on footwear, school bags, battery, operated vehicles, sweets and snacks, ready-made garments, and marble from 12.5 percent to 5 percent. Watches will be taxed at 12.5 percent, though.

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CSR Activities by Corporate Houses

Corporate Social Responsibility ("CSR") provision of the Companies Act, 2013 came into force from 1st April, 2014. The year 2014-15 was the first year of implementation of CSR by companies under the legislation. During this year, a total of 460 listed companies which have placed annual CSR returns on their websites, have spent about Rs. 6337 crores on CSR, as summarised below:

1. By PSUs (Total 51 companies )- Rs. 2386.60crs

2. By Private Sector Companies(Total 409 companies)-3950.76crs

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Relaxation Under Section 42 of Companies Act, 2013

Companies Law Committee ("CLC") constituted by Government to look into issues arising out of implementation of Companies Act, 2013 has in its report made recommendations to ease private placement procedures laid down under Section 42 of the Companies Act, 2013. Simplified procedures are recommended for all private placements irrespective of the type of company. The CLC had extensive consultations with stakeholders before giving its recommendations. The recommendations of the CLC have been accepted by the Government. 

Source: PIB

Registration Process under 5 Labour Acts to be integrated with E-Biz Portal: Annual Return under Mines Act 1952 and Common Electronic Challan cum Return for EPFO/ESIC with Shramsuvidha Portal

COMMON REGISTRATION FACILITY FOR REGISTRATION UNDER 5 LABOUR ACTS 

The Ministry for Labour & Employment will launch the Common Registration Facility on e-biz Portal, integration of the Annual Return under Mines Act 1952 and common Electronic Challan cum Return (“ECR”) for EPFO/ESIC with the Shramsuvidha Portal.

The Ministry has decided to integrate the registration process under 5 Labour Acts with the e-biz portal of the Department of Industrial Policy & Promotion (“DIPP”) so that various registrations required by a unit can be obtained through a single window. The 5 Central Labour Acts covered in this process are:

• The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952
• The Employees’ State Insurance Act, 1948
• The Contract Labour (Regulation & Abolition) Act, 1970
• The Building and Other Construction workers (Regulation of Employment & Conditions of Service) Act, 1996
• The Inter-State Migrant Workmen (Regulation of Employment & Condition of Services) Act, 1979

Unified Web Portal ‘ShramSuvidha Portal’, launched on 16^th October, 2014 is already catering to four major Organisations under the Ministry of Labour, namely Office of Chief Labour Commissioner (Central), Directorate General of Mines Safety, Employees’ Provident Fund Organization and Employees’ State Insurance Corporation.

Now it is to facilitate the returns under the Rules/Regulations under the Mines Act 1952 also on the ShramSuvidha Portal. Further, facility for online submission of Common Electronic Challan–cum-Return (“ECR”) for Employees’ Provident Fund Organization (“EPFO”) and Employees’ State Insurance Corporation (“ESIC”) has been developed on the ShramSuvidha Portal.

This service will reduce the transaction costs of business and make it easy and convenient for employer/establishment to meet their obligations. Thus it will not only be a leap towards better environment for business but also will motivate the informal economy to get formalized.

Portal can be access using this link https://www.efilelabourreturn.gov.in/home