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Circulars

Change of designation of officers representing CBEC in the CESTAT

August 26, 2011 2311 Views 0 comment Print

With the approval of the Competent Authority it has been decided to re-designate the officers representing the Department before the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) with immediate effect.

Change of designation of officers representing CBEC in CESTAT

August 26, 2011 688 Views 0 comment Print

Circular No. 951/12/2011 -CX, dated the 26th August, 2011 With the approval of the Competent Authority it has been decided to re-designate the officers representing the Department before the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) with immediate effect. The new designations will be as follows:-

Infrastructure Finance Companies (IFCs) — as eligible issuers for FIIs investment limit in debt instrument for infrastructure

August 26, 2011 354 Views 0 comment Print

Please refer to SEBI Circular, dated 26-11-2010 & 31-3-2011, regarding FII investment in the corporate bonds issued by Indian companies which are in the infrastructure sector, where ‘infrastructure’ is defined in terms of the extant guidelines on External Commercial Borrowings (ECB).

SEBI – Processing of Investor Complaints in SEBI Complaints Redress System (SCORES) – CIRCULAR NO. MIRSD/19/2011, DATED 26-08-2011

August 26, 2011 331 Views 0 comment Print

CIRCULAR NO. MIRSD/19/2011, DATED 26-8-2011 Henceforth all complaints shall be forwarded electronically through SCORES only. You are hereby directed to view the pending complaints at http://scores.gov.in/admin and submit the ATR along with supporting documents electronically in SCORES. Please note that updation of action taken would not be possible with physical ATRs. Hence, submission of physical ATR will not be accepted for complaints lodged in SCORES.

RBI – Contingency plan during strikes in banks / natural calamity- Arrangements for feeding of ATMs

August 25, 2011 1523 Views 0 comment Print

The need for replenishing cash in the ATMs of banks, especially in times of strikes in banks/natural calamity so as to mitigate hardships caused to bank customers, was examined by RBI. As a first step in this direction, the use of other bank’s ATMs for cash withdrawals was made free of charge with effect from April 1, 2008 vide our circular DPSS No. 2007-2008/260 dated March 10, 2008. However, this measure would not suffice when there is an industry-wide strike call / other emergency and the ATMs of banks run out of cash.

Redressal of investor grievances against stock brokers and sub- brokers in SEBI Complaints Redress System (SCORES)

August 25, 2011 411 Views 0 comment Print

CIRCULAR NO. MIRSD/18/2011, DATED 25-8-2011 1. SEBI has commenced processing of investor grievances in a centralized web-based complaints redressal system, ‘SCORES’. The salient features of this system are: l Centralized database of all complaints; l Online movement of complaints to the concerned entities; l Online upload of Action Taken Reports (ATRs) by the concerned entities; and l Online tracking of status of complaints by investors.

Comments suggestions invited regarding levy of service tax on distributors/sub-distributors of films & exhibitors of movie

August 25, 2011 16676 Views 0 comment Print

These representations have been examined. Subsequent to CBEC Circular No. 109/03/2009 dated 23.02.2009, temporary transfer or permitting the use or enjoyment of, any copyright defined in the Copyright Act, 1957 (14 of 1957), except the rights covered under sub-clause (a) of clause (1) of section 13 of the said Act were made taxable w.e.f. 01.07.2010 under the sub-clause (zzzzt) of Sec 65(105) by the Finance Act of 2010. Also, for the words ‘operational assistance for marketing’, the words ‘operational or administrative assistance in any manner’ were substituted in the clause (104c) of Sec 64 of the Act by the Finance Act, 2011, w.e.f. 01.05.2011.

Procedure for regulating refund of excess amount of TDS deducted and/or paid – Modification of Circular No. 2/2011 dated 27-4-2011

August 24, 2011 2675 Views 0 comment Print

CIRCULAR NO. 6/2011, DATED 24-8-2011 Section 200A of The Income-Tax Act, 1961 – Deduction Of Tax At Source – Processing Of Statement Of Tax Deducted At Source – Procedure For Regulating Refund Of Excess Amount Of TDS Deducted And/or Paid – Modification Of Circular No. 2/2011, Dated 27-4-2011

SEBI- All complaints to be forwarded electronically through SCORES only

August 24, 2011 14728 Views 0 comment Print

CIRCULAR NO. CIR/MIRSD/17/2011, Henceforth all complaints to SEBI shall be forwarded electronically through SCORES only. You are hereby directed to view the pending complaints at http://scores.gov.in/admin and submit the ATR along with supporting documents electronically in SCORES. Please note that updation of action taken would not be possible with physical ATRs. Hence, submission of physical ATR will not be accepted for complaints lodged in SCORES.

Custom Duty – Issue of Customs House Agent License – Reference from field formations

August 24, 2011 6508 Views 0 comment Print

Circular No.38/2011-Customs Representations have been received in the Board to grant reasonable opportunities to persons qualified under Regulation 9 of the erstwhile CHALR, 1984 but not granted CHA Licence at par with that currently available to applicants for passing examination under CHALR, 2004. The matter has been examined in the Board. In this regard, it is felt that the intention of allowing these applicants to appear in the examination for additional subjects such as (a) The Patents Act, 1970 and Copyright Act; 1957 (b) Central Excise Act, 1944 (c) Export promotion schemes, (d) Procedure on appeal and revision petition, (e) Prevention of Corruption Act, 1988, (f) Online filing of electronic Customs declarations, (g) Narcotic Drugs and Psychotropic Substances Act, 1985 and (h) Foreign Exchange Management Act, 1999 was to ensure that they have working knowledge in these subjects as prescribed under CHALR, 2004. However, restriction on providing one time opportunity to qualify the examination for additional subjects for grant of CHA licence does not appear to be justified and needs re-consideration.

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