Standardizing the norms for PoA must not be construed as making the PoA a condition precedent or mandatory for availing broking or depository participant services. PoA is merely an option available to the client for instructing his broker or depository participant to facilitate the delivery of shares and pay- in/pay-out of funds etc. No stock broker or depository participant shall deny services to the client if the client refuses to execute a PoA in their favour.
As you are aware, the ‘Cheque Return Memo’ that should accompany a cheque dishonoured / returned for any reason is a critical document, more so in case recourse to legal action is necessitated. The procedure for handling dishonoured cheques including
Works contract service made taxable with effect from 1 June 2007. Thus, services such as construction, erection, commissioning or installation, repair services provided prior to 1 June 2007, to be classified as a works contract service in case subsisting beyond 1 June 2007.
I am directed to refer to Customs notification No.22/2009-Cus. dt.02.03.2009 and DGFT’s notification No.86 (RE-2008/2004-2009) dated 17.2.2009 whereby the actual user condition for import of raw sugar from 17.2.2009 to 30.9.2009 under the Advance Authorization scheme was relaxed and the said imports were allowed on ‘ton-to-ton’ basis instead of ‘grain-to-grain’ basis.
In this connection, it is clarified that in addition to the documents listed in paragraph 2(i) of our circular referred to above for opening a bank account in the name of a proprietary concern, banks may also accept any registration/licensing document issued in the name of the proprietary concern by the Central Government or State Government Authority/Department. Banks may also accept IEC (Importer Exporter Code) issued to the proprietary concern by the office of DGFT as an identity document for opening of bank account.
Each of the parties to arbitration (other than a client with a claim / counter claim upto Rs. 10 lakh and filing the arbitration reference for the same within six months) shall deposit an amount, as may be prescribed by the stock exchange, at the time of making arbitration reference. The deposits (exclusive of statutory dues – stamp duty, service tax, etc.) shall not exceed the amount as indicated under:
Attention is invited to Board Circular No.26/2010-Customs dated 9.08.2010 wherein it was clarified that benefit under the Notification No.13/2010- Customs for import of specified goods for Commonwealth Games, 2010 will not be extended to vendors/ sub vendors/ Contractors appointed by Organising Committee of the Commonwealth Games, (OC, CWG) 2010.
References have been received from the Trade and Field formations seeking a clarification whether Anti Dumping Duty under the Notification No.15/2007-Customs dated 20.02.2007 is applicable to Spandex Yarn (Elastomeric yarn). Although the description ‘elastomeric yarn’ is not specified in the above said notification, doubts have been expressed since the Tariff Item 5402 44 00 is mentioned therein.
Please refer to our circular RBI /2007 -08/225 (DGBA.GAD.No H-7633/ 41.07.006/2007-08) dated January 15, 2008 on the captioned subject. From January 22, 2008 onwards it was mandatory for all assesses to quote their assessee code in the GAR- 7 challan at the time of payment of excise duty or excise duty in the authorized bank branches.
In case the equilibrium price is not discovered in the pre-open session, wherein, there are only market orders, the market orders shall be matched at last traded price and all unmatched orders shall be shifted to the order book of the normal market at last traded price following time priority. Last traded price shall be the opening price.
