The Section 53 of CGST Act/RGST Act and Section 17, 18 of the IGST Act read with the Goods and Services Tax Settlement of Funds Rules, 2017 provides for the manner of cross utilization of IGST or may be of SGST and apportionment of IGST between Centre, States and within State for the purpose of settlement or transfer of funds from the Centre to State or vice versa.
NPCI has reviewed the systemic readiness required at various intermediaries to facilitate the processing of applications with increased UPI limit and confirmed that as on March 30, 2022, more than 80% of SCSBs/Sponsor Banks/UPI Apps have conducted the system changes and have complied with the NPCI provisions.
DS will be applicable in case of PF final settlement, transfer claims, on transfer from Exempted establishments to EPFO and vice versa, on transfer from one Trust on another, past accumulations transfer, at the time of annual accounts processing, on back period accounting after accounts for year 202122 are processed.
For transfer of securities held in the beneficial owner account of the client towards Stock Exchange related deliveries / settlement obligations arising out of trades executed by such a client on the Stock Exchange through the same stock broker.
Account Details for fee to be remitted to IFSCA- It is hereby informed that existing SWIFT code of the USD current account has changed from ICICINBBIBU to ICICINAAXXX.
In view of representation received from credit rating agencies, it has been decided to extend the date of applicability of the section B of the aforesaid circular. Credit rating agencies shall ensure compliance with the requirements/ provisions of the section B of the aforesaid circular on or before June 30, 2022.
As the standardized framework will help bring about uniformity in the classifications being used across sectors and in securities market, credit rating agencies are advised to use this standardized industry classification for the purpose of rating exercise, peer benchmarking, research activities including research for Economy, Industries and Companies etc.
SEBI extends the date of applicability of Circulars including the clauses relating to Two Factor Authentication (‘2FA’) for redemption and source account verification to July 01, 2022.
Bilateral Netting of Qualified Financial Contracts Act, 2020, has been notified by Notification No. S.O. 3463(E) dated October 1, 2020. The Act provides a legal framework for enforceability of bilateral netting of qualified financial contracts (QFC).
IRDA extend the facilitation dispensing with physical signature on proposal forms of Life Insurance Policies and permitting OTP based validation, up to 30/09/2022. All other provisions, in respect of this dispensation, of the above referred circulars remain unchanged. Insurance Regulatory and Development Authority of India Ref: IRDAI/Life/Cir/Misc/059/03/2022 Date: 31st March, 2022 To All Life Insurers […]
