I am directed to refer to Board’s Circular No. 643/34/2002 -CX dated 1.7.2002 clarifying certain points relating to Central Excise Valuation (Determination of Price of Excisable Goods) Rules, 2000.
The matter has been examined by the Ministry of Environment & Forests who have clarified that as per rule 12 of the Ozone Depleting Substances (Regulation and Control) Rules, 2000, importers of ompressors have to be registered with the competent authority for import of Compressors using Ozone Depleting Substances. Registration requirement will not be applicable for importing Compressors using non-Ozone Depleting Substances.
Import of Sandal Wood under Exim Code No. 44039922 will be restricted and subject to a ceiling of 5,000 cum in each licensing year. Imports will be permitted only against an Import License issued by the Directorate General of Foreign Trade. The Import License shall be issued in consultation with the Ministry of Environment and Forest.
Further, it has now been clarified by the Government of India and Reserve Bank of India that FII investments shall be restricted to only listed debt securities of It is also clarified that the FIIs subscription to Commercial Papers would be within the ceiling of US $1.5 billion.
In order to clarify the expense structure in SEBI (Mutual Funds) Regulations, 1996 with greater precision and to introduce uniform practices in procedure for dividend distribution by the mutual funds,
This circular is being issued in exercise of powers conferred by Sections 11(1) and 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.
This circular is being issued in exercise of powers conferred by Sections 11(1) and 1 1A 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
Statement that a copy of the offer document of the immediately preceding public or rights issue is made available to the public as specified under clause 5.6.2(ii) and also as a document for public inspection.
Mutual Funds shall report in the bi-monthly Compliance Test Reports (CTRs) the number of days when mutual funds were not able to adhere to the above mentioned time limit for uploading their NAVs on the AMFI website with reasons thereof and the corrective action taken by the AMC to reduce the number of such occurrences.
Circular No. 4 of 2006-Income Tax Disallowance of twenty percent of the expenditure under the provisions of sub-section (3) of section 40A is made in the computation of income in any case where a payment is made otherwise than by a crossed cheque drawn on a bank or by a crossed bank draft for a sum exceeding twenty thousand rupees.
