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Archive: 26 July 2019

Posts in 26 July 2019

Guidelines for LES in Commodity Derivatives Contracts

July 26, 2019 432 Views 0 comment Print

Discount in fees, adjustment in fees in other segments or cash payment – The incentives during a financial year shall not exceed 25% of the net profits or 25% of the free reserves of the stock exchange, whichever is higher, as per the audited financial statements of the preceding financial year.

Staggered Delivery Period in Commodity futures contracts

July 26, 2019 9054 Views 0 comment Print

The applicable staggered delivery periods for various commodity futures contracts as on the date of the above circular were also continued. It is observed that currently there is no uniformity in the length of staggered delivery period for commodity futures contracts across exchanges even for the same commodities.

Use of Unified Payments Interface (UPI) with ASBA- Reg.

July 26, 2019 1254 Views 0 comment Print

Investors whose bank is not live on UPI as on the date of this Circular, may use the other alternate channels available to them viz. submission of application form with SCSB or using the facility of linked online trading, demat and bank account (Channel I or II at Para 5.1 of Circular dated November 01, 2018).

High Court Order in respect of item at EXIM Code 1005 Maize (Corn)

July 26, 2019 1404 Views 0 comment Print

Reference is invited to Notification No. 93 (RE-2013) dated 29.09.2014 which, inter – alia, revised the import policy for EXIM code 1005 – Maize (Corn) (1005 90 00 -Other), removing the item from the State Trading Enterprises” list to Free.

New Delhi International Arbitration Centre Act, 2019

July 26, 2019 1467 Views 0 comment Print

(1) This Act may be called the New Delhi International Arbitration Centre Act, 2019. 2) It shall be deemed to have come into force on the 2nd March, 2019.

18% GST payable on construction of residential quarters for MPPGCL

July 26, 2019 3090 Views 0 comment Print

In re M/s. Madhya Pradesh Power generating Company Limited (GST AAR Madhya Pradesh) 1. Rate of GST on contract for construction of building and structure for colony at village Siveria at 2×660 MW Shree Singaji Thermal Power Project Stage -II Khandwa. As per Notification No. 11/2017 as amended by Notification No. 24/2017 further amended vide […]

Share capital addition with premium on mere surmises / conjectures unjustified

July 26, 2019 1509 Views 0 comment Print

Addition under section 68 made by AO of the entire share capital and premium received during the year  on the basis of negative observation about availability of funds with share applicant was unjustified as the share applicant was the sister concern of assessee, from whom similar share application with premium were received in the earlier year and the balance sheet of the share applicant showed ample source of funds.

FCRA Suspension of 10 Associations revoked

July 26, 2019 690 Views 0 comment Print

And whereas, the associations mentioned in the annexed list have now opened their bank account(s)as mandated under section 17 of the FCRA, 2010 in PFMS-integrated banks and have complied with the Government directions issued under section 46 of the Act. 8. Now therefore, the suspension of the registration under FCRA, 2010 of these ten associations mentioned in the annexed list is hereby revoked with immediate effect.

Seat adjuster as accessories to motor vehicle falls under chapter heading 8708

July 26, 2019 1086 Views 0 comment Print

In re Shiroki Technico India Private Ltd. (GST AAR Haryana) Whether the product; namely ‘seat adjuster’ merit classification under Serial No. 170 as per Notification No. 1/2017- Central Tax (Rate) dated 28.06.2017 or under Serial No. 435A of Notification No. 1/2017- Central Tax (Rate) dated 28.06.2017 as amended by Notification No. 41/2017- Central Tax (Rate) […]

Use and File procedure for certain modifications under existing products and riders offered by Life Insurers

July 26, 2019 2400 Views 0 comment Print

hange in current File and Use procedure: To make the product modification process more efficient, it has been decided that the following modifications to the approved products and riders will be allowed without complete procedure under File and Use:

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July 2019