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Obligation to comply with Ind AS by subsidiary Payment / Small Finance Banks

September 13, 2017 912 Views 0 comment Print

It is hereby clarified that the holding company if it is covered by the corporate sector roadmap for implementation of Ind AS, shall follow the corporate sector roadmap and if the company has got payment bank or small finance bank as its subsidiary then subsidiary company shall follow the banking sector roadmap

Exemption from payment of Late Fee on Profession Tax in Maharashtra

September 12, 2017 17316 Views 1 comment Print

As per Section 6(1) of The Maharashtra State Tax on Professions, Trades, Callings and Employments Act 1975 (the Profession Tax Act, 1975), every employer registered under the Profession Tax Act, 1975 has to furnish return in prescribed format showing the salaries and wages paid and the amount of tax deducted by him in respect thereof. As per Rule 11(2A)

Cyber Security and Cyber Resilience framework for Registrars to an Issue / Share Transfer Agents (RTAs)

September 8, 2017 1089 Views 0 comment Print

Rapid technological developments in securities market have highlighted the need for maintaining robust cyber security and cyber resilience framework to protect the integrity of data and guard against breaches of privacy.

MVAT: Certificate for purchase of Natural Gas at a notified concessional rate

September 8, 2017 7419 Views 0 comment Print

Natural Gas is covered under entry 15 of Schedule B of the Maharashtra Value Added Tax Act, 2002. The tax rate applicable is 13.5%. A new entry 16 has been added with effect from 24th August 2017 to the said Schedule for the purpose of sale of natural gas at a concessional rate of 3% by virtue of the above referred notification.

Clarifications on Guidelines on insurance e-commerce and electronic issuance of insurance policies

September 7, 2017 2361 Views 0 comment Print

The Authority as part of its developmental mandate and to reach out to the policyholders in a cost efficient manner has taken number of steps. This includes issuing revised guidelines on insurance repositories, insurance e-commerce, issuance of electronic insurance policies, maintenance of electronic records, etc.

MCA clarifies meaning of joint venture for appointment of Independent Directors

September 5, 2017 14001 Views 0 comment Print

A joint venture would mean a joint arrangement, entered into in writing, whereby the parties that have joint control of the arrangement, have rights to the net assets of the arrangement. The usage of the term is similar to that under the Accounting Standards.

MGST: Distribution of GST Provisional Id & Access Token of Phase 11 dealers

September 4, 2017 663 Views 0 comment Print

Provisional Ids and Access Token of Phase 11 dealers, are now made available by GSTN. Dealer can obtain their Provisional Ids from department’s portal www.mahavdt.gov.in, using their login credentials. The list of all such dealers is published under GST Tab on Mahavat portal.

IRDA Clarification on Aadhaar based e-KYC

August 31, 2017 1665 Views 0 comment Print

Authority vide circular dated 21st October, 2013 and AML Master Circular dated 28th September, 2015 allowed Aadhaar based e-KYC service offered by UIDAI for KYC verification. 2. It is hereby clarified that for accessing the details of the client from UIDAI for identification and authentication shall be with the consent of the client on a voluntary basis.

Clarification on Exchange Traded Option contracts on EUR- INR, GBP- INR and JPY- INR currency pairs

August 31, 2017 2988 Views 0 comment Print

1. SEBI vide circular SEBI/HO/MRD/CP/CIR/P/2016/38 dated March 9, 2016 laid down the detailed framework for introduction of cross-currency futures and option contracts in the EUR- USD, GBP- USD and USD- JPY currency pairs and introduction of currency option contracts in EUR- INR, GBP- INR and JPY- INR currency pairs. The said framework interalia specified product design, risk management & dynamic price bands etc for cross currency options and currency options.

Issuance, listing and trading of debt securities on exchanges in IFSC

August 31, 2017 825 Views 0 comment Print

In continuation of guidelines on debt securities contained in Chapter V Issue of Debt Securities of SEBI (IFSC) Guidelines, 2015 and based on the representations received from stock exchanges and market participants in IFSC, it has been decided that for issuing debt securities in IFSC, stock exchanges shall evolve a detailed framework prescribing

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