{"id":298169,"date":"2023-07-31T18:00:03","date_gmt":"2023-07-31T12:30:03","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=298169"},"modified":"2023-07-31T18:01:53","modified_gmt":"2023-07-31T12:31:53","slug":"legislation-roundup-july-2023-legal-update","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/31\/legislation-roundup-july-2023-legal-update\/","title":{"rendered":"Legislation July Roundup 2023: 15+ Stories on Changes in GST Rates on Casino, Online Gaming etc; Introduction of IFSC Banking Company and Unit; SEBI Circulars; and more"},"content":{"rendered":"<div style=\"text-align: justify; line-height: 150%;\">\n<p style=\"font-weight: bold; font-size: 14.0pt;\">LOK SABHA<\/p>\n<p style=\"font-weight: bold;\">Lok Sabha passes Repealing and Amending Bill 2022 to repeal 76 obsolete laws<\/p>\n<p style=\"\">The Repealing and Amending Bill, 2022 was introduced in the Lok Sabha by the then Union Law Minister, Kiren Rijiju on 19-12-2022 with a view to repealing 65 obsolete Laws. Now, the present Law Minister, Arjun Ram Meghwal, proposed to repeal 76 obsolete Laws and amend a minor drafting error in <a href=\"https:\/\/www.scconline.com\/DocumentLink.aspx?q=JTXT-0002928181\" target=\"_blank\" rel=\"noopener\">Factoring Regulation Act, 2011<\/a>.<\/p>\n<p style=\"font-weight: bold; text-align: right; margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/28\/lok-sabha-passes-repealing-and-amending-bill-2022-leagl-news\/\" target=\"_blank\" rel=\"noopener\">READ MORE<\/a><\/p>\n<p style=\"font-weight: bold; font-size: 14.0pt;\">GOODS AND SERVICES TAX COUNCIL<\/p>\n<p style=\"font-weight: bold;\">[GST Council 50th Meeting] Uniform 28% GST levied on Casino, Race Course and Online Gaming<\/p>\n<p style=\"\">On 11-7-2023, the Goods and Services Tax (&#8216;GST&#8217;) Council in its 50th Meeting recommended changing GST tax rates, discussed measures for facilitation of trade and measures for streamlining compliances in GST.<\/p>\n<p style=\"font-weight: bold; text-align: right; margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/12\/gst-council-revises-gst-rates-of-goods-and-services-legal-news\/\" target=\"_blank\" rel=\"noopener\">READ MORE<\/a><\/p>\n<p style=\"font-weight: bold; font-size: 14.0pt;\">MINISTRY OF CORPORATE AFFAIRS<\/p>\n<p style=\"font-weight: bold;\">Section 12 of Competition (Amendment) Act, 2023 comes into force with effect from 18-7-2023<\/p>\n<p style=\"\">On 18-7-2023, the Ministry of Corporate Affairs appointed 18-7-2023 as the date on which the provision of Section 12 of the Competition (Amendment) Act, 2023 came into force.<\/p>\n<p style=\"font-weight: bold; text-align: right; margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/19\/section-12-of-competition-amendment-act-2023-came-into-force-legal-news\/\" target=\"_blank\" rel=\"noopener\">READ MORE<\/a><\/p>\n<p style=\"font-weight: bold; font-size: 14.0pt;\">MINISTRY OF COMMERCE AND INDUSTRY<\/p>\n<p style=\"font-weight: bold;\">Govt lays down various Procedures relating to import\/ export\/ procurement of Domestic Tariff Area of Ship by a Unit in IFSC<\/p>\n<p style=\"\">On 5-7-2023, the Ministry of Commerce and Industry notified the Special Economic Zones (Third Amendment) Rules, 2023 to amend the Special Economic Zones Rules, 2006.<\/p>\n<p style=\"font-weight: bold; text-align: right; margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/07\/govt-notifies-special-economic-zone-third-amendment-2023-legal-news\/\" target=\"_blank\" rel=\"noopener\">READ MORE<\/a><\/p>\n<p style=\"font-weight: bold; font-size: 14.0pt;\">MINISTRY OF FINANCE<\/p>\n<p style=\"font-weight: bold;\">MoF mandates prior approval of RBI to Use International Credit Card overseas for making transactions covered under Schedule III<\/p>\n<p style=\"\">On 30-6-2023, the Ministry of Finance further amended the <a href=\"http:\/\/www.scconline.com\/DocumentLink\/0H2gUAxW\" target=\"_blank\" rel=\"noopener\">Foreign Exchange Management (Current Account Transactions) Rules, 2000<\/a>. It will be deemed to have been came into effect on 16-5-2023.<\/p>\n<p style=\"font-weight: bold; text-align: right; margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/03\/mof-reinserts-rule-relating-to-use-of-international-credit-card-oustide-india-legal-news\/\" target=\"_blank\" rel=\"noopener\">READ MORE<\/a><\/p>\n<p style=\"font-weight: bold; font-size: 14.0pt;\">MINISTRY OF ENVIRONMENT, FOREST AND CLIMATE CHANGE<\/p>\n<p style=\"font-weight: bold;\">Govt regularizes incineration of Wild Animals Articles, trophy, uncured trophy and meat derived<\/p>\n<p style=\"\">On 12-7-2023, the Ministry of Environment, Forest and Climate Change notified the Wild Life Disposal of Wild Animal Article Rules, 2023 to regularize incineration of wild animal articles.<\/p>\n<p style=\"font-weight: bold; text-align: right; margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/14\/govt-notifies-wild-life-disposal-of-wild-animal-article-rules-2023-legal-news\/\" target=\"_blank\" rel=\"noopener\">READ MORE<\/a><\/p>\n<p style=\"font-weight: bold;\">Responsibilities of Manufacturer\/ Refurbisher\/ Recycler revised vide E-Waste (Management) Second Amendment Rules, 2023<\/p>\n<p style=\"\">On 25-7-2023, the Ministry of Environment, Forest and Climate Change notified the E-Waste (Management) Second Amendment Rules, 2023 to amend the <a href=\"http:\/\/www.scconline.com\/DocumentLink\/C21QJp67\" target=\"_blank\" rel=\"noopener\">E-Waste (Management) Rules, 2022<\/a>.<\/p>\n<p style=\"font-weight: bold; text-align: right; margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/27\/moef-revises-ewaste-management-rules-2022-legal-news\/\" target=\"_blank\" rel=\"noopener\">READ MORE<\/a><\/p>\n<p style=\"font-weight: bold; font-size: 14.0pt;\">MINISTRY OF POWER<\/p>\n<p style=\"font-weight: bold;\">Govt forms National Steering Committee to govern Carbon Market vide Carbon Credit Trading Scheme, 2023<\/p>\n<p style=\"\">On 28-6-2023, the Ministry of Power notified the Carbon Credit Trading Scheme, 2023 whereby the governance of Indian Carbon Market and direct oversight of its functioning will be done by the National Steering Committee for Indian Carbon Market.<\/p>\n<p style=\"font-weight: bold; text-align: right; margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/01\/govt-notifies-carbon-credit-trading-scheme-to-govern-carbon-market-legal-news\/\" target=\"_blank\" rel=\"noopener\">READ MORE<\/a><\/p>\n<p style=\"\">MoP streamlines Requirements of Captive Generating Plant vide Electricity (Amendment) Rules, 2023On 30-6-2023, the Ministry of Power notified the Electricity (Amendment) Rules, 2023 to amend the <a href=\"http:\/\/www.scconline.com\/DocumentLink\/27P0nrd5\" target=\"_blank\" rel=\"noopener\">Electricity Rules, 2005<\/a>. The provisions came into force on 30-6-2023<\/p>\n<p style=\"font-weight: bold; text-align: right; margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/03\/mop-notifies-electricity-amendment-rules-2023-legal-news\/\" target=\"_blank\" rel=\"noopener\">READ MORE<\/a><\/p>\n<p style=\"font-weight: bold; font-size: 14.0pt;\">INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY<\/p>\n<p style=\"font-weight: bold;\">IFSC introduces definitions of IFSC Banking Company and IFSC Banking Unit<\/p>\n<p style=\"\">On 7-7-2023, the International Financial Services Centres Authority (&#8216;IFSCA&#8217;) notified the International Financial Services Centres Authority (Banking) (Amendment) Regulations, 2023 to amend the <a href=\"http:\/\/www.scconline.com\/DocumentLink\/LZ88IZLs\" target=\"_blank\" rel=\"noopener\">International Financial Services Centres Authority (Banking) Regulations, 2020<\/a>.<\/p>\n<p style=\"font-weight: bold; text-align: right; margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/12\/ifsc-notifies-ifsc-authority-banking-amendment-regulations-2023-legal-news\/\" target=\"_blank\" rel=\"noopener\">READ MORE<\/a><\/p>\n<p style=\"font-weight: bold; font-size: 14.0pt;\">SECURITIES AND EXCHANGE BOARD OF INDIA (&#8216;SEBI&#8217;)<\/p>\n<p style=\"font-weight: bold;\">SEBI amends Guidelines on &#8220;Pricing of Units&#8221; for Preferential Issue &amp; Institutional Placement by REIT and InvIT<\/p>\n<p style=\"\">On 5-7-2023, the Securities and Exchange of India (&#8216;SEBI&#8217;) notified amendments to Guidelines for Preferential Issue and Institutional Placement of Units by a listed Real Estate Investment Trusts (&#8216;REIT&#8217;) and Infrastructure Investment Trusts (&#8216;InvIT&#8217;).<\/p>\n<p style=\"font-weight: bold; text-align: right; margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/08\/sebi-amends-guidelines-on-pricing-of-units-for-preferential-issue-and-institutional-placement-by-reit-and-invit\/\" target=\"_blank\" rel=\"noopener\">READ MORE<\/a><\/p>\n<p style=\"font-weight: bold;\">SEBI revises SEBI Stock Brokers Regulations 1992 exempting separate registration for participating in the tri-party repo segment<\/p>\n<p style=\"\">On 24-7-2023, the Securities and Exchange Board of India (&#8216;SEBI&#8217;) notified the Securities and Exchange Board of India (Stock Brokers) (Second Amendment) Regulations, 2023 to amend the <a href=\"http:\/\/www.scconline.com\/DocumentLink\/wa57C61I\" target=\"_blank\" rel=\"noopener\">Securities and Exchange Board of India (Stock Brokers) Regulations, 1992<\/a>.<\/p>\n<p style=\"font-weight: bold; text-align: right; margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/26\/sebi-notifies-stock-brokers-second-amendment-regulations-2023-legal-news\/\" target=\"_blank\" rel=\"noopener\">READ MORE<\/a><\/p>\n<p style=\"font-weight: bold;\">SEBI introduces new Alternative Dispute Resolution Mechanism vide ADR Amendment Regulations 2023<\/p>\n<p style=\"\">On 3-7-2023, SEBI notified the Securities and Exchange Board of India (Alternative Dispute Resolution Mechanism) (Amendment) Regulations, 2023 to amend the following.<\/p>\n<p style=\"font-weight: bold; text-align: right; margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/07\/sebi-notifies-adr-amendment-regulations-2023-legal-news\/\" target=\"_blank\" rel=\"noopener\">READ MORE<\/a><\/p>\n<p style=\"font-weight: bold;\">SEBI introduces new chapter on ESG Rating Providers in SEBI (Credit Rating Agencies) Regulations, 1999<\/p>\n<p style=\"\">On 3-7-2023, the Security and Exchange Board of India (&#8216;SEBI&#8217;) introduced the Securities and Exchange Board of India (Credit Rating Agencies) (Amendment) Regulations, 2023 to amend the <a href=\"http:\/\/www.scconline.com\/DocumentLink\/PaW382w8\" target=\"_blank\" rel=\"noopener\">Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999<\/a>.<\/p>\n<p style=\"font-weight: bold; text-align: right; margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/07\/sebi-notifies-cra-amendment-regulations-2023-legal-news\/\" target=\"_blank\" rel=\"noopener\">READ MORE<\/a><\/p>\n<p style=\"font-weight: bold; font-size: 14.0pt;\">STATE LEGISLATIONS<\/p>\n<p style=\"font-weight: bold;\">Mah Govt announces additional Allowances and Post-Retirement Benefits to Retired Bombay High Court Judges<\/p>\n<p style=\"\">On 4-7-2023, the Maharashtra Government announced post- retirement benefits and allowances for housekeeping, chauffeur and telephone expenses to the retired Bombay High Court Judges.<\/p>\n<p style=\"font-weight: bold; text-align: right; margin-bottom: 3%;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/05\/maharashtra-annonces-benefits-to-retired-bombay-high-court-judges-legal-news\/\" target=\"_blank\" rel=\"noopener\">READ MORE<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>LOK SABHA Lok Sabha passes Repealing and Amending Bill 2022 to repeal 76 obsolete laws The Repealing and Amending Bill, 2022 was <\/p>\n","protected":false},"author":67515,"featured_media":298171,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45673,48207],"tags":[59877,45675,58091,58092],"class_list":["post-298169","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-columns-for-roundup","category-legislation-roundup","tag-july-roundup","tag-legal-roundup","tag-legislation-roudup","tag-monthly"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Legislation Roundup July 2023 | SCC Blog<\/title>\n<meta name=\"description\" content=\"Legislation Roundup July 2023: GST Rates on Casino, Online Gaming and more, Introduction of IFSC Banking Company and Unit, SEBI Circulars, Repealing and Amending Bill 2022\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/31\/legislation-roundup-july-2023-legal-update\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Legislation July Roundup 2023: 15+ Stories on Changes in GST Rates on Casino, Online Gaming etc; 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The Bill aims to establish a legal framework to consolidate the existing laws relating to admiralty jurisdiction of courts, admiralty proceedings on maritime claims, arrest of vessels and related issues. 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