In order to further extend the benefits of SLB and to facilitate efficient use of margin collateral, a review of the SLB framework was undertaken in consultation with Secondary Market Advisory Committee (SMAC). Accordingly, it has been decided to modify the extant SLB framework as under:
The purpose of taking the information in Form DVAT-07 and Form DVAT-52 is to update the dealers’ data with the department. To maintain up to date and accurate data of the dealers in the department records, Registration Certificates of the dealers are required to be amended. The amendment process is to be initiated either on dealer’s initiative or suo-moto order passed on information received by the department.
In exercise of the powers under the Companies Act, the Registrar of Companies may obtain declaration/affidavits from subscribers/first directors first at the time of incorporation and from directors, subsequently whenever company changes its objects
With this amendment, the authorities competent to write-off the arrears of Central Excise and the Commissioner of Service Tax are also delegated powers to write-off the arrears of Service Tax as well. Consequently, the constitution of the Committees for examining the proposals for write-off of irrecoverable arrears and recommending deserving cases to the authority competent to order such write-off, also requires modification.
Benefits of deemed exports under para 8.2(f) are available only if supplies are under ICB, except for Mega Power Projects. For Mega Power projects it could be ICB or other than ICB, as given in para 3 above. Para 8.3(c)(i) and para 8.4 of FTP (table given in this para) clearly provide that if supplies are under ICB, then such supplies are exempted from payment of TED. If supplies are not under ICB, then such supplies are eligible for refund.
Attention is invited to Board’s Circular 18/2009- Cus dated 08.06.2009 which disallows direct movement of consignments from Gateway Port to CFS of another Customs Station. It is only in exceptional circumstances on account of congestion etc, the jurisdictional Commissioners are empowered to allow the movement of consignments from Gateway Port directly to a CFS of another Customs Station.
In exercise of the powers conferred under sub-rule (2) of rule 20 of the Central Excise Rules, 2002, the Central Board of Excise and Customs hereby specifies the following conditions, limitations, safeguards and procedures for removal of such excisable goods as allowed herein, to godowns or retail outlets of Duty Free Shops , to which the warehousing provisions have been extended by the Central Government vide Notification No. 07/2013-C.E. (N.T.), dated 23rd May, 2013.
AD Category -I banks were required to furnish information on the number of applications received and the total amount remitted under the Liberalised Remittance Scheme (the Scheme), on a monthly basis
All listed companies undertaking a Scheme of Arrangement under Part IV and Chapter V of Part VI of the Companies Act, 1956, (Amalgamation/ Merger/ Reconstruction/ Reduction Of Capital, etc.) are required to submit a valuation report in terms of Para (I) (A) read with Part A, Annexure I of the SEBI Circular No. CIR/CFD/DIL/5/2013 dated February 4, 2013.
SEBI has received various suggestions with regard to the requirement of system audit of trading algorithm / software used by stock brokers / trading members. After due examination of the suggestions in consultation with the Technical Advisory Committee, it has been decided to revise the requirement as follows:
