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Circulars

CBEC clarifies on classification of ‘Saree’ under CETA, 1985

March 15, 2017 2850 Views 0 comment Print

Whether the goods described as ‘Saree’ which has undergone further processing such as embroidery, stitching of lace and tikki etc. and stitched with two or more kinds of fabrics is classifiable as Saree under Chapter 54 or as made-ups under Chapter 63 of the Central Excise Tariff Act, 1985.

SEBI releases updated format of draft offer letter under takeover code

March 15, 2017 1698 Views 0 comment Print

It has been decided, in consultation with market participants, to revise the time period for which information is required to be filed with SEBI, in line with the provisions relating to maintenance of records under the Companies Act, 2013. The format and instructions prescribed vide aforementioned Circular shall stand modified as given at

SEBI permits Celebrity endorsements of Mutual Funds at industry level

March 15, 2017 2997 Views 0 comment Print

SEBI decided to permit celebrity endorsements at industry level, for the purpose of increasing awareness of Mutual Funds as a financial product category.

Draft IRDA (Preparation of Financial Statements of Insurers) Regulations, 2017

March 15, 2017 3642 Views 0 comment Print

In order to address the implementation issues, the Authority had constituted the Implementation Group on Ind-AS in Insurance Sector in India. The group has submitted its report on 30th December 2016.

Existence of deposit in bank not mandatory on PMGKY payment date

March 14, 2017 7671 Views 0 comment Print

Representations received seeking clarification as to whether deposits made in bank account or cash in hand which are eligible for being declared under the PMGKY Scheme should exist on the date of filing of declaration under the Scheme.

EPF contribution exemption to Singapore citizens working in India

March 14, 2017 2514 Views 0 comment Print

Special Provision in respect of International Workers– Exemption granted under the Comprehensive Economic Cooperation Agreement between the Republic of India and the Republic of Singapore (CECA-2005) to Singapore citizens working in India from contributing to social security schemes in India – Clarification regarding.

IRDA guidelines for investment in Units of REITs / InvITs

March 14, 2017 1599 Views 0 comment Print

Insurers can invest in Units of REITs / InvITs which conform to the following: i. The REIT /InvIT rated not less than AA shall form part of Approved Investments. REIT / InvIT rated less than AA shall form part of Other Investments.

CBEC Master Circular on Show Cause Notice, Adjudication & Recovery

March 10, 2017 80265 Views 1 comment Print

The master circular is divided into four parts. Part I deals with Show Cause Notice related issues, Part II deals with issues related to Adjudication proceedings, Part III deals with closure of proceedings and recovery of duty and Part IV deals with miscellaneous issues.

Redress investor’s complaint within 15 days: SEBI

March 10, 2017 1440 Views 0 comment Print

Redressal of complaints against Stock Brokers and Depository Participants through SEBI Complaints Redress System (SCORES)’ within 15 days.

Requirements for submission of Scheme of M&A for sanction by NCLT

March 10, 2017 5445 Views 0 comment Print

Regulation 11 of the listing regulations, inter-alia, provides that any scheme of arrangement / amalgamation / merger / reconstruction / reduction of capital etc. to be presented to any Court or Tribunal does not in any way violate, override or limit the provisions of securities laws or requirements of the Stock Exchanges

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