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Circulars

Clarification regarding Entry 11A of Schedule B’ under Maharashtra VAT

October 4, 2021 828 Views 0 comment Print

It is clarified that, this benefit is available for RCS flights on both – origin as well as departure airports. This benefit is available for operating all RCS-UDAN flights by Fixed Wing Aircraft, Helicopters and Seaplanes at any Airport/ Heliport/ Helipad/ Water Aerodrome located within the State of Maharashtra subject to the conditions stated in Notification cited at reference (2). This clarification is with effect from the date of introduction of the entry i.e. w.e.f. 01/04/2017.

Online exit process for NPS subscribers under Government Sector

October 4, 2021 678 Views 0 comment Print

NPS Subscribers are empowered with the comprehensive end to end digitally enabled solutions to fulfill their evolving needs and allow them for performing various facets of NPS viz On-boarding, maintenance, contribution deposit, partial withdrawal and exit with greater ease and convenience. PFRDA had already enabled online paperless exit process of Non Govt Sector Subscribers.

Discontinuation of usage of pool accounts for transactions in units of Mutual Funds on Stock Exchange Platforms

October 4, 2021 588 Views 0 comment Print

i. Pooling of funds and/ or units by stock brokers / clearing members in any form or manner shall be discontinued for mutual fund transactions. ii. Similar to mechanisms for transactions in mutual fund units by MFDs and IAs, stock exchanges shall put necessary mechanisms in place for stock brokers / clearing members also, to ensure that funds pay-in is directly received by the clearing corporation from the investor account and funds pay-out is directly made to the investor account.

Discontinuation of usage of pool accounts for transactions in MF units

October 4, 2021 1260 Views 0 comment Print

3.1. AMCs shall ensure that the transactions (financial/ non-financial) can be executed only if there is a service agreement between the AMC and the service provider / platform.

Online exit process for NPS subscribers under Government Sector

October 4, 2021 441 Views 0 comment Print

PFRDA is pleased to extend the online and paperless process of exit to the Subscribers of Government Sector as an option in addition to the existing physical mode of exit. The online exit would be integrated with Instant Bank Account Verification as per the existing guidelines as part of enhanced due diligence in the interest of Subscribers. The facility would also be available to the employees of Autonomous Bodies of Central/State Government who are covered in NPS.

SEBI eases compliance requirement for rights issues

October 1, 2021 1209 Views 0 comment Print

Issuer Company shall conduct a Vulnerability Test for optional mechanism (non-cash mode only) provided to accept the applications in Rights Issue (facility provided by RTA), from an independent IT Auditor, and submit the report to Stock Exchange(s).

RoDTEP Scheme w.e.f. 01.01.2021

September 30, 2021 4113 Views 0 comment Print

The RoDTEP scheme rebates the incidence of duties, taxes and levies at the Central/State/local levels on specified export goods, where such duty or tax or levy is not exempted, remitted or credited under any other scheme. The remission under RoDTEP is as a percentage of the Free on Board (FoB) value of the eligible export product along with value caps for certain HS codes or is at specific value as detailed under Appendix 4R of the FTP.

RoSCTL Scheme on export of apparel/garments/made-ups w.e.f. 01.01.2021

September 30, 2021 1923 Views 0 comment Print

Earlier it was intended to subsume the RoSCTL scheme w.e.f. 01.01.2021 in the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme which was also being introduced w.e.f. 01.01.2021. Accordingly, facility to file shipping bill with claim for RoSCTL was discontinued. However, subsequently it was decided to have independent RoSCTL scheme w.e.f. 01.01.2021 to 31.03.2024.

SEBI Guidelines for Investment Advisers’ – Extension of timelines

September 30, 2021 2310 Views 0 comment Print

The Circular further specified a timeline of 6 months from the end of the financial year for the IAs to obtain an annual certificate from an auditor confirming compliance with the client level segregation requirements as specified in Regulation 22 of the IA Regulations.

IRDAI: Public Disclosures by Insurers

September 30, 2021 5643 Views 0 comment Print

Insurers may note that the revised instructions shall come into effect from the financial year 2021-22 and the uploading of disclosures on website shall be on quarterly basis from the period ending 30th September, 2021 whereas publishing in Newspapers will be on half yearly basis from the period ending 30th September, 2021.

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