Attention is invited to Regulation (3) of Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2009, notified vide Notification No.FEMA.258/2013-RB dated February 15, 2013 and A.P. (DIR Series) Circular No. No. 39 dated
The avoidable delays on account of non-uniform Customs procedures adopted at some ports/Customs stations not only increase transaction cost and time of clearance but also prove to be major constraints in making Indian ports international transshipment hubs.
The representations, as aforesaid, have been examined by the Finance Department, Government of Maharashtra and after careful consideration of the same, has decided to extend the due date for submission of the Audit Report in Form 704 for the year 2013-14 to 30th January 2015.
A certificate from the Statutory Auditor of the customer that all guidelines have been adhered to while utilizing this facility; and A certificate of import/export turnover of the customer during the past three years duly certified by their Statutory Auditor in the format given in Appendix K.
The Depository System was reviewed by the Depository Systems Review Committee(DSRC) inter alia in the context of Principles for Financial Market Infrastructures(PFMI) laid down by the Committee on Payment and Settlement Systems (CPSS) and International Organization of Securities Commissions(IOSCO).
BSE and NSE shall implement suitable mechanism to ensure that all messages related to market-wide index circuit breakers are given higher priority over other messages.
In order to simply the customs procedures & overcome the hassles, a welcome move has been made by CBEC. Vide Circular no. 01/2015 dated 12th Jan’15, it has been clarified by the Board that there shall not be any requirement of separate packing list in case commercial invoice cum packing list contains following details in addition to details in commercial invoice:
Hereby extend the last date of filling of online return in Form 9 for the year 2013-14, prescribed under Rule 4 of Central Sales Tax (Delhi) Rules, 2005 to 05/02/2015.
In the Trade Circular No. 15T of 2014 dated 6th August 2014 amendments to various Acts administered by the Sales Tax Department were explained. On page no. 11 and 12 of the said Trade Circular, in pare 5, amendments relating to section 26 of the Maharashtra Value Added Tax Act, 2002 were explained.
It is clarified that under the provisions of aforesaid Circular, residents that are subsidiaries of multinational companies can also hedge their foreign currency exposure through permissible derivative contracts executed with an AD Category – I bank in India on the strength of guarantee of its non-resident group entity.
