Para 2 (VI)- Duty payment- As e-payment has been made mandatory for units paying duty of more than Rs. 50 lakh through PLA, this clause is deleted. Large Taxpayers should pay all taxes through e-payment mode only.
communicate to SEBI, the status of the implementation of the provisions of this circular in the Monthly Development Report.
In the light of the representations received regarding similar exemption for investments in mutual funds, it has been decided to exempt investors residing in the state of Sikkim from the mandatory requirement of PAN for their investments in mutual funds also.
.In the Securities and Exchange Board of India (Venture Capital Funds) Regulations, 1996, in Second Schedule, in Part A, for the word and figure “Rs. 10,00,000”, the word and figure “Rs. 5,00,000” shall be substituted.
It has been decided that for Readymade Garments of Textiles & Leather, where the requirement of fabric, depending on pattern / style / design of garment, is more than 7.5% of the existing SION (e.g. where a SION specifies 2 square meters / piece but the requirement of fabric is more than 2.15 square meters / piece), RAs shall consider issuance of ad-hoc Advance Authorisation under Para 4.7 for export of readymade garments that are based on particular styles / patterns / designs.
SEBI vide circular dated December 20, 2007 had specified the broad framework for short selling by institutional investors and a full-fledged securities lending and borrowing scheme for all market participants.
To begin with, from April 21, 2008, all institutional trades in the cash market would be margined on a T+1 basis with margin being collected from the custodian upon confirmation of the trade.
While necessary advice in this regard is already being given to Mutual Funds at the time of filing of draft offer documents, AMCs are hereby advised to make necessary disclosures in this regard in the draft offer documents filed with SEBI.
This circular and the entire text of the SEBI (Disclosure and Investor Protection) Guidelines, 2000, including the amendments issued vide this circular, are available on SEBI website at www.sebi.gov.in under the categories “Legal Framework” and “Issues and Listing
Consequent upon the ban/restriction imposed as above, it is hereby clarified that exports under transitional arrangements as provided under Para 1.5 of the Foreign Trade Policy, 2004-09 shall not be permitted. This is in force with the issue of Notification No.77 dated 7.2.2008. That is since 7.2.2008, no exports are allowed under transitional arrangements.
