The new Companies Act, 2013 gives certain CSR related rules to be followed by companies which satisfy the thresholds set forth. However, a few rules such as requirement of independent director in the CSR committee of Private Limited Companies,
utilization of CSR funds and CSR tax provisions require clarifications.We had submitted a representation to the Ministry of Corporate Affairs to get clarity on the CSR rules given in the new Companies Act, 2013. Please find the representation here. In response,we have received the attached letter from the Ministry of Corporate Affairs stating that our representation has been received and been forwarded to the appropriate officer for further examination and action.
AI represented to the Reserve Bank of India seeking a change in the rule to ban zero per cent interest rate scheme for purchase of consumer goods. As 20-30 per cent of consumer sales happen via such zero percent EMI schemes,
banning such schemes would have detrimental implications for the retailers. RAI submitted that instead of banning, RBI could have laid down guidelines for disclosure/structuring of scheme by banks which would lead to a greater transparency to customer. Click here to view the representation to RBI. We requested Indian Banks’Association to submit a similar representation to RBI which was not done by them. We received a reply from RBI stating that they appreciate our concern but the instructions are for the banking sector and they have not received any representation from them.
RAI had submitted a representation to the Insecticide Board stating that the overburdening nature of the Insecticide Act poses certain impediments to the retail industry which can be addressed without increasing the risk exposure.
Please click here to view the representation submitted.We submitted that there needs to be a classification of insecticides on the basis of risk posed. In this regard, RAI representatives and a retail industry delegation met Dr. Gurbachan Singh in August, Chairman of the Insecticide Board to discuss about this matter.
The Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 states that total holding by each FII/SEBI approved sub-account of FII shall not exceed:
Ministry of Finance has constituted a Forum Chaired by Dr. Parthasarathi Shome, Adviser to the Finance Minister for Exchange of views between Industry Groups and Government on Tax Related Issues or Tax Related Disputes.
RAI is preparing a representation to be submitted to the forum addressing several tax related issues which the retailers are facing. We received positive response from interactions and believe that there is high possibility of retailers getting relief in the issues which will be presented. The forum has allocated September 25 for exchange of views on retail sector in which a high level retail industry delegation will present issues to Dr. Shome. Please find the press release by Ministry of Finance for the forum here.
RAI has submitted a representation to Delhi Government to throw light on the repercussions of using paper bags towards the environment and the threats it poses to the natural resources.
RAI believe that Paper Bags also relay an immense impact on the environment in terms of global warming, energy and water consumption, and waste generation. These factors lead to paper bags impacting the environment in a similar manner as plastic bags and hence need to be treated similarly. There is strong need to prevent the massive deforestation for manufacturing of paper bags.
Please find the representation attached here
The Central Government has issued an order dated September 28, 2015 by way of an amendment to the Removal of (Licensing Requirements, Stock Limits and Movement Restrictions) on Specified Foodstuffs Order, 2002, enabling States to impose stock limits on pulses, edible oils and oil seeds for a period of one year, from October 1, 2015 to September 30, 2016.
We are pleased to inform you that Retailers (Multiple Outlets) and Large Departmental Retailers are exempted from stock holding limits under the Essential Commodities Act, 1955 under this new order.
RAI appreciates the proactive attitude of the Government and is thankful for considering RAI’s submission in this regard. We believe that steps like these will go a long way in the Government’s goal of enhancing ease of doing business in the country.
To view the detailed order, click here
he government of Maharashtra had imposed limits on how much pulses, edible oils and oil seeds retailers could stock. This created several problems, especially for retailers with multiple outlets. Subsequently, Retailers Association of India (RAI) had approached to the government to remove the stock limit on edible oils for retailers having multiple outlets in line with the notification issued by the Central Government.
Furthermore the government of Maharashtra has issued a notification to that effect. To view the notification, Click here
The GST council has recommended reduction in GST rate on tailoring from 18% to 5%. RAI had earlier submitted a representation to the Government to reconsider the GST rate on tailoring. Please click here to view RAI representation.
After a series of meetings with the GST council, our request to lower the rate of GST on tailoring has finally been considered. RAI believes that this is a great move by the Government and will benefit tens of thousands of people who are in the tailoring business across the country.
RAI delegation had a fruitful meeting with Shri Amitabh Kant, CEO, Niti Aayog. Various subjects pertaining to opening of malls and retail stores, challenges faced by retailers at local level and non-availability of working capital support were discussed during the meeting
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