It has been decided that the all-in-cost ceiling as specified in A.P. (DIR Series) Circular No. 99 dated March 30, 2012 will continue to be applicable till March 31, 2013 and subject to review thereafter. All other aspects of ECB policy remain unchanged.
Top Stories Case Laws Statutes Analysis of Latest News All CL : Chairman of CLB can now transfer any matter pending before a Regional Bench to any other Regional BenchORDER [FILE NO. 10/36/2001-CLB], DATED 07-12-2012 SEBI : Stock Exchanges to implement measures to prevent aberrant orders or uncontrolled tradesCIRCULAR NO. MRD/DP/34/2012, DATED 13-12-2012 SEBI :
It has been decided to prescribe a framework of dynamic trade based price checks to prevent aberrant orders or uncontrolled trades. These measures would be implemented in phases in order to ensure the Indian stock exchanges deploy latest technology while maintaining adequate controls. As an initial measure, it has been decided that stock exchanges shall implement the measures as given below.
In continuation of the Ministry’s General Circular Nos: 16/2012 dated 06.07.2012 and 34/2012 dated 25.10.2012 on the subject cited above, it is stated that the time limit to file the financial statements in the XBRL mode without any additional fee/penalty has been extended up to 15th January 2013 or within 30 days from the date of AGM of the company, whichever is later.
The Stock Exchange or the Clearing Corporation, as the case may be, shall, in consultation with SEBI, formulate a policy for annual inspection of their members in various segments and follow up action thereon. The policy shall also cover various kinds of risks posed to the investors and market at large on account of the activities/business conduct of their members.
Circular No. 29 /2012-Customs – Kind attention is invited to Board Circular No. 11/2001-Customs dated 23rd February 2001 issued from F. No. 467/32/2000-Customs V, prescribing conditions and procedure regarding cases to be taken up for investigation by Special Valuation Branches (SVB) and their manner of processing and disposal.
As announced in the Union Budget 2012-13, the Finance Act 2012 has introduced a new section 80CCG on ‘Deduction in respect of investment made under an equity savings scheme‘ to give tax benefits to new investors who invest up to Rs. 50,000 and whose gross total annual income is less than or equal to Rs. 10 lakhs. SEBI CIRCULAR NO. MRD/DP/32/2012, DATED 6-12-2012
SEBI vide circular dated April 26, 2010 has issued guidelines for market makers on stock exchange/trading platform by a recognized stock exchange having nationwide trading terminals for Small and Medium Enterprises (SMEs).
Section 8 of the Central Sales Tax Act, 1956 provides for the rate of tax on sales in the course of inter-State Trade and commerce. Further, sub¬section (1) of section 8 states that every dealer, who in the course of inter-State trade or commerce, sells to a registered dealer the class or classes of goods that are specified in the certificate of registration of the registered dealer purchasing the goods for the purposes enumerated in sub-section (3) of section 8 of the Central Sales Tax Act, 1956 shall be liable to pay tax at notified rate i.e. @ 2% with effect from 1st June 2008.
The section 23 of the MVAT Act, 2002 provides for the assessment of tax under different contingencies. 2. Sub-section (11) of section 23 provides that, (1) where a dealer has been assessed under sub-section (2), (3) or (4) and if he makes an application in Form-316 to the Commissioner within thirty days from the date of service of the assessment order, for the cancellation of the assessment on the ground that he was unable to attend before the Commissioner for hearing.
