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Circulars

Modification to Guidelines on Point of Sales (POS) – Life Insurance

August 8, 2017 1278 Views 0 comment Print

Annexure –I (a) – Pure Term Insurance Product with or without return of Premium wherein the maximum Limit of Sum Assured under the Pure Term Product was capped up to Rs 25 Lakhs (excluding ADB Rider) Only

Guidelines regarding cross checking of Input Tax Credit (ITC)

August 7, 2017 9693 Views 0 comment Print

During the service cell meeting dated 15th July 2017, some of the dealers and sales tax practitioners had brought to my notice that in cases of issue based case where there is mismatch of J2111, the officers insist for the ledger confirmations for the mis-match of small amounts which causes the great hardship to the trade and most of the time these mis-matches are on technical ground.

Disclose Loan default within one working day: SEBI to listed Companies

August 4, 2017 1854 Views 0 comment Print

Listed entities shall make disclosures within one working day from the date of default at the first instance of default in the format specified in Clause C1 below.

Submission of Aadhaar as identity document by members of EPS, 1995

August 4, 2017 993 Views 0 comment Print

It is informed that Aadhaar No. would not be mandatory for International Workers as well as workers from Nepal and Bhutan. Further, submission of Aadhaar will be optional upto 30th September 2017 for those members who already have UAN prior to 1st July 2017 and has to go for re-registration.

MVAT: Refunds of security deposit given at the time of Voluntary Registration

August 3, 2017 52959 Views 17 comments Print

The person applying for voluntary registration has to deposit an amount of Rs. 25000/- by way of security deposit at the time of registration as per the proviso to section 16(2) of the Maharashtra Value Added Tax Act, 2002. Such deposit is not liable for adjustment against tax payable as per return or towards any other liability under MVAT Act, 2002. The person applying for voluntary registration has to deposit an amount of Rs. 25000/- by way of security deposit at the time of registration as per the proviso to section 16(2) of the Maharashtra Value Added Tax Act, 2002.

Delhai VAT: Disposal of pending Form DVAT 04 & DVAT 07 applications

August 3, 2017 1008 Views 0 comment Print

It has, however, come to the notice that some of the ward Incharges have still not disposed off their pendency of Form DVAT 04 & Form DVAT 07 applications, relating to Registration and amendments respectively.

‘Telematics’ and role it can play in Motor Insurance

August 3, 2017 2259 Views 0 comment Print

The world of technology is dynamic. Technology constantly makes waves in every field and the insurance industry too has benefitted immensely from the advantages technology offers. In this paper, we restrict ourselves to the concept of ‘Telematics’ and the role it can play in Motor Insurance.

SEBI Clarifies on Margin Trading Facility

August 1, 2017 1128 Views 0 comment Print

The Stock Exchanges are advised to:- 6.1. take necessary steps and put in place necessary systems for implementation of this circular. 6.2. make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision.

Action against Exclusively Listed Companies and its Promoters/Directors pending Exit Offer to Shareholders

August 1, 2017 4557 Views 0 comment Print

In order to ensure that exit option is provided to the public shareholders of ELCs that are non-compliant with the provisions of the said circular dated October 10, 2016 and have not submitted plan of action to the DSEs and in order to protect the interest of investors in ELCs on DB it is hereby directed that, to begin with:-

Leviability of IGST on High Sea Sales of imported goods and point of collection

August 1, 2017 29874 Views 1 comment Print

‘High Sea Sales’ is a common trade practice whereby the original importer sells the goods to a third person before the goods are entered for customs clearance. After the High sea sale of the goods, the Customs declarations i.e. Bill of Entry etc is filed by the person who buys the goods from the original importer during the said sale

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