Intention of the aforesaid provision for revalidation is to allow the utilization of the re-credited amount. Hence, it is clarified that the validity of the re-credited scrips shall be six months from the date of endorsement by Regional Authorities or the original validity of the duty credit scrip, whichever is later. This revalidation shall be irrespective of the fact as to whether the scrip has expired on or before the date of submission of the scrip to the Regional Authority.
This circular is issued in exercise of powers conferred by sub-section (1) of section 11 and section 11A of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
In this context, we advise that a Committee was constituted by the Controller General of Accounts, Ministry of Finance, Government of India, to review the permissible period for transfer of funds to Government account in case of e-payment and other related issues. The Committee recommended that the remittance norm of T+1 working day (including put through date) for e-payment as applicable for Private Sector Banks may also be made applicable for the Public Sector Banks.
The other provisions, as specified in SEBI circular no. MRD/DoP/SE/Dep/Cir-14/2007 dated December 20, 2007 on “Short selling and securities lending and borrowing”, SEBI circular no. MRD/DoP/SE/Cir- 31/2008 dated October 31, 2008 on “Review of Securities Lending and Borrowing (SLB) Framework” and SEBI circular no SEBI/MRD/DoP/SE/Dep/Cir-01/2010 dated January 06, 2010 on “Review of Securities Lending and Borrowing (SLB) Framework” shall continue to be applicable.
After the introduction of VAT, a large number of refund applications are being filed, as compared to the BST period. The department is undergoing transition due to which business processes have undergone many changes. As a result, a number of circulars were issued from time to time to lay down the procedure for the granting of refund,
Corrigendum No.5/2010 (F.No.142/13/2010-SO(TPL) “the above amendment has been made applicable with effect from 1st April, 2009 and will accordingly apply in respect of assessment year 2009- 10 and subsequent years.” the following lines shall be read; “the above amendment has been made applicable with effect from 1st October 2009
entities that do not file the requisite information by the stipulated date shall not be able to take fresh positions in the cash as well as the derivatives market w.e.f. October 01, 2010. From this date, non compliant entities could either, retain their current positions or sell off/ unwind.
In this connection, we advise that the above mentioned restriction on grant of bank advances for financing promoters’ contribution towards equity capital would also extend to bank finance to activities related to such acquisitions like payment of non compete fee, etc.
he Annual Supplement to the Foreign Trade Policy (hereinafter referred to as the FTP), 2009-2014 and the Handbook of Procedures (Vol.I) (hereinafter referred to as the Handbook) have been notified by the DGFT vide notification No. 1(RE-2010) / 2009-2014 dated
The scheme of e-payment is now extended to the Quarterly filers. Therefore, every dealer who is liable to file Quarterly return shall make payment of tax, interest, penalty or fees payable under the MVAT Act and CST Act, electronically.
