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Circulars

Scheme for Speedy refund of accumulated & unutilised CENVAT credit

November 10, 2015 4746 Views 0 comment Print

Circular No. 187/6/2015-Service Tax This scheme is applicable to service tax registrants who are exporters of services, with respect to refund claims under rule 5 of the CENVAT Credit Rules, 2004, which have been filed on or before 31-3-2015, and which have not been disposed of as on date of the issue of this circular. Such registrants will be referred to as ‘claimants’ in the subsequent paragraphs.

Govt eases Process of Public Issue of Equity Shares and Convertibles

November 10, 2015 2959 Views 0 comment Print

. As a part of the continuing endeavor to streamline the process of public issue of equity shares and convertibles, it has been decided, in consultation with the market participants -(i) to reduce the time taken for listing after the closure of issue to 6 working days as against the present requirement of 12 working days, and (ii) to broad-base the reach of investors by substantially enhancing the points for submission of applications.

Physical Submission of Statement of submission and Acknowledgement of Audit Report in Form 704 for F.Y. 2014-15

November 7, 2015 3657 Views 0 comment Print

The last date for submission of audit report u/s 61 of the MVAT Act 2002, for the period 2014­15 is 15th January 2016. After uploading their audit reports for the period 2014-15, the dealers shall submit the following documents

Barter Trade at Indo-Myanmar border not permitted wef 01.12.2015

November 5, 2015 498 Views 0 comment Print

Barter trade was initially permitted to facilitate exchange of locally produced commodities along the Indo-Myanmar border. As such, these transactions were not captured in the banking system or reflected in the trade statistics. However, over a period of time the trade basket has diversified and adequate banking presence is in place to support normal trade with Myanmar.

RBI permits FCY-INR swaps with Multilateral or International Financial Institutions

November 5, 2015 1131 Views 0 comment Print

Under the existing guidelines, residents having a long term foreign currency liability in terms of Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000, FEMA 3/2000-RB, dated May 3, 2000, as amended from time to time and rules, regulations and directions issued thereunder, are permitted to hedge exchange rate and/or interest rate risk exposure thereof by undertaking a foreign currency-INR swap to move from a foreign currency liability to a rupee liability with an AD Cat-I bank subject to the operational guidelines, terms and conditions as mentioned in the above circular.

District Central/ State Co-op Banks allowed to extend internet banking facility

November 5, 2015 708 Views 0 comment Print

State Cooperative Banks (StCBs) and District Central Cooperative Banks (DCCBs) so far have not been allowed to provide internet banking facilities to their customers. As some of the StCBs/ DCCBs have requested for permission to offer Internet Banking facility, it has been decided to allow StCBs and DCCBs to extend the facility of internet banking to their customers.

All Software exporters can now file single as well as bulk SOFTEX form in excel format

November 5, 2015 3291 Views 0 comment Print

A.P. (DIR Series) Circular No.27 All software exporters can now file single as well as bulk SOFTEX form in excel format to the competent authority for certification. The SOFTEX form is given at Annex I. Since the SOFTEX data from STPI/SEZ is being transmitted in electronic format to RBI, the exporters are required to submit the SOFTEX form in duplicate as per the revised procedure.

Revision in rates of Maharashtra Value Added Tax

November 4, 2015 20588 Views 0 comment Print

The State Government has issued notifications on 30th September 2015, which have already been made available on the Department’s web site. By virtue of the notification No. VAT.1515/C.R.128A/Taxation 1, dated 30th September 2015 the schedule rates of tax on certain commodities have been increased with effect from the 1st October 2015.

SEBI issues Format for Voting Results

November 4, 2015 2042 Views 0 comment Print

Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (hereinafter referred to as Listing Regulations), has prescribed that the listed entity shall submit to the stock exchange, within forty eight hours of conclusion of its General Meeting, details regarding the voting results in the format specified by the Board.

Format for quarterly holding pattern, corporate governance report and compliance with two-way fungibility of IDRs

November 4, 2015 570 Views 0 comment Print

SEBI issues format for Format for quarterly holding pattern, disclosure norms for corporate governance report and manner for compliance with two-way fungibility of Indian Depository Receipts (IDRs) vide Circular No. CIR/CFD/CMD/9/2015 Dated-November 04, 2015

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