"31 March 2016" Archive

Applicability of Ind-AS to disclosures in offer documents

Circular No. SEBI/HO/CFD/DIL/CIR/P/2016/47 (31/03/2016)

To align the disclosure requirements for financial information in the offer document as specified under SEBI (ICDR) Regulations, 2009 with the requirements of Ind AS specified under MCA Roadmap, the disclosure of financial information in accordance with Ind AS in the offer document shall be in the following manner:...

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No denial of opportunity to meet DGFT officers

Trade Notice No. 22/2015 (31/03/2016)

Endeavour of DGFT to move towards an IT enabled paperless and personal contact free environment to achieve the objectives of maintaining efficiency, absolute integrity and transparency in the functioning of all the offices of the Directorate in a more comprehensive and complete manner, was stressed....

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FDI in India – Review of FDI policy –Insurance sector

RBI/2015-16/350 A.P. (DIR Series) Circular No. 58 (31/03/2016)

The extant FDI policy for Insurance sector has since been reviewed by the Government of India and accordingly it has been decided to enhance the limit of foreign investment in insurance sector from 26 to 49 percent under the automatic route subject to certain terms and conditions which have been notified through Notification No. FEMA. 36...

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Clean Credit on Import of Rough, Cut and Polished Diamonds

RBI/2015-16/351 A.P. (DIR Series) Circular No. 57 (31/03/2016)

it has been decided, in consultation with the Government of India, to delegate the powers for permitting such clean credit for a period exceeding 180 days from the date of shipment to the AD banks, subject to the following conditions:...

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Bill of Entry to be replaced by Integrated Declaration wef 01.04.2016

F. No. 450/147/2015-Cus-IV (31/03/2016)

Following the issue of CBEC Circular 10/2016-Cus dated 15.03.2016 regarding implementation of the Single Window Integrated Declaration with effect from 1st of April, 2016, the Bill of Entry will be replaced by an 'Integrated Declaration', which covers all information required for import clearance by the other government agencies. ...

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Higher Secondary School Leaving Certificate certificate is admissible age proof: SC

Hina Vs Union Of India & Ors (Supreme Court of India)

The short question which arises in this appeal is whether the second respondent-Corporation was justified in rejecting the application of the appellant for allotment of retail outlet of petroleum/diesel dealership at location Kalamnuri in District Hingoli in the State of Maharashtra, on the ground that the age proof submitted by her was n...

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Income tax Calculator for FY 2016-17 / AY 2017-18

Income tax Calculator for AY 2017-18: Income tax Calculator for Financial Year 2016-17 Assessment Year 2017-18. Income Tax calculator cum Flexi Allocation kit....

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Posted Under: SEBI | ,

Deliberate suspicious trading ignorance by brokers to attract penalty

SEBI Vs Kishore R. Ajmera (Supreme Court of India)

Broker and sub-broker would be liable to face proceedings under FUTP regulations due to their deliberate ignorance of constant suspicious trading transactions executed on the behalf of clients. In the present case, the brokers executed transaction on behalf of their clients in illiquid scrip in short span of time that too for a long perio...

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Central Excise on Jewellery : Whether fears are real?

Excise Duty has been imposed on the article of jewellery in the Union Budget 2016-17. There has been protest by trade fearing the nuisances of excise. There fear is not without justifiable reasons considering the rigorous provisions of Gold Control Act, 1968 which they were subjected to. It is perceived that if the duty is reintroduced, t...

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Posted Under: SEBI |

Valuation of jewellery under excise: Practical scenarios

Valuation is one of the most crucial aspects for a manufacturer engaged in manufacturing of jewellery considering high value transactions and frequent fluctuation in prices leave little margin for error. This also necessitates that the value adopted for duty purpose is properly documented with supporting evidence so that the valuation is ...

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Posted Under: SEBI |
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