The invoice based monthly returns for the financial year 2016-17 are being filed by the eligible registered dealers form 29th August 2016. The Trade Circular No. 22 T of 2016 dt. 26th August 2016 was issued describing the procedure of filing the returns in new formats. The Trade Circular also mentioned the extended dates of return filing for the purpose of late fee exemption for the period from April 2016 onwards.
Last date of filing of online/hard copy of 2nd quarter return for year 2016-17, in Form DVAT-16, DVAT-17 and DVAT-48 extended to 28/11/2016.
It is clarified that the import of shredded metallic scrap shall continue to be cleared inter-alia upon furnishing of pre-shipment inspection certificate. Para 3(i) of the Circular No. 48/2016-Customs shall stand modified to that extent.
A. Please refer to SEBI circulars dated May 08, 2001, June 20, 2002, July 11, 2003, December 15, 2009 and May 22, 2014, on the captioned subject. With an objective to bring about alignment of these SEBI circulars providing guidelines for Investment/Trading in Securities by employees of AMC(s) and Trustees with the principles laid down in SEBI (Prohibition of Insider Trading) Regulations, 2015
The Memorandum of Foreign Exchange Management Regulations relating to General/Health Insurance (GIM) and Life Insurance (LIM) in India have also been suitably modified and are annexed at Annex I and Annex II, respectively.
Based on representations received from stakeholders and to further ease the PAN verification process at the time of account opening of FPIs, it is decided that the intermediaries can verify the PAN of FPIs online from website authorised by Income Tax department at the time of account-opening for FPIs.
As announced in the Union Budget 2016-17, it has now been decided to expand the investment basket of eligible instruments for investment by FPIs under the corporate bond route to include the following:
Revision in the procedure of cancellation and refund of value of Rs. 5,000/- and above for the PRS counter tickets booked from 16.11.2016 to 24.11.2016.
Option of deferred payment has been extended only to AEO (Tier-Two) and AEO (Tier-Three) and they shall obtain ICEGATE Login which is essential to avail benefits envisaged in AEO Programme.
Rs. 500 and Rs. 1000 denominations of banknotes of the existing series and any older series issued by RBI till 8th November, 2016 ceases to be legal tender under Section 26 of the RBI Act, 1934 on the expiry of 8th November, 2016.
