The formats of the said reports have been modified to incorporate the data on unit capital. The revised formats are enclosed. Accordingly, in future, MCR and ASR shall be submitted to SEBI in the revised format.
Make amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision immediately, as may be applicable/necessary;
Circular No. 07 of 2006-Income Tax Section 43B of the Income-tax Act, 1961 was amended by the Finance Act, 2006 inserting therein two clarificatory Explanations, namely; Explanation 3C and Explanation 3D. Both the Explanations clarify that any sum payable by the assessee as interest on any loan or borrowing or advance shall be allowed
Like the previous year, the drawback rates have been determined on the basis of certain broad parameters including, inter alia, the prevailing prices of inputs, standard input/ output norms (SION) published by DGFT, share of imports in the total consumption of inputs and the applied rates of duty. As education cess is being collected as duties of excise/customs, the element of education cess has been factored in the drawback rates. The incidence of duty on HSD/Furnace Oil has also been factored in the drawback calculation.
Enclosed please find a copy of the gazette notification no. S.O.948 (E) dated June 26, 2006 pertaining to SEBI (Foreign Institutional Investors) (Amendment) Regulations 2006 for your information and necessary action.
communicate to SEBI, the status of the implementation of the provisions of this circular in Section II, item no. 13 of the Monthly Development Report for the month of August, 2006.
It is observed from the information provided by the depositories that the companies listed in Annexure ‘A’ have established connectivity with both the depositories on or before 30.04.2006.
I am directed to say that the scope of levy of service tax on “banking and other financial services” defined under section 65(12) of the Finance Act, 1994 and classifiable as taxable service under section 65(105)(zm) of the Finance Act, 1994 has been examined in the context of certain services provided by the Department of Posts
The matter was re-examined and it has been decided that in all such cases where the Settlement Commission has given a decision prior to 1.4.2005, the same should also be dealt by the Regional Authorities concerned at par with the cases relating to the period on or after 1.4.2005.
I am directed to refer to Board’s Circular No. 581/18/2001-CX dated 29th June, 2001 which interalia, specifies conditions, procedures, class of exporters and places under sub- rule (2) of rule 20 of Central Excise Rules, 2002 for warehousing of excisable goods for the purpose of export. In paragraph 2(2) of the said Circular, the Board has specified places where warehouses may be established.
