Considering the developments in the securities market in India and abroad and also keeping in view the interests of investors, SEBI had desired to revisit the KIM.
The undersigned is directed to state that subsequent to Budget 2004 announcements, a number of representations/ references have been received from the trade as well as from the field formations pertaining to the changes made in the excise duty structure on Textiles and Textile Articles. The point raised
The matter has been deliberated upon in this office and it has been decided to suitably amend the said clause allowing DFRC for inputs with prior import condition. In the meantime , it is clarified that no DFRC would be allowed for the inputs with prior import condition because it defeats the very purpose of prior import condition.
It has come to the notice of Board that in some cases, despite issue of EO Discharge Certificate by the DGFT authorities, Customs has issued show cause notices to the licence holder questioning the value of imported capital goods/quantum of export obligation. Later, when the Commissioner increased the CIF value of imported capital goods by issue of an adjudication order.
Wherever import of Penicillins and its salts (ITC HS Code 29411010) is allowed under advance licensing scheme, export obligation period for such licences shall be restricted to three months from the date of clearance of import of first consignment. An endorsement in the Advance Licence shall be made by the Licencing Authority to this effect.
The circulars dated May 14, 1993 and October 21, 1993 referred to above would stand modified accordingly, with regard to calculation of net-worth of the members.
In a case falling under clause 22.7, if the subsidiary reimburses the cost incurred by the holding company in granting options to the employees of the subsidiary, both the subsidiary as well as the holding company shall disclose the payment or receipt, as the case may be, in the ‘notes to accounts’ to their financial statements.
. At the end of each day during which the ban on fresh positions is in force for any scrip, the Exchange shall test whether any member or client has increased his existing positions or has created a new position in that scrip.
RBI vide circular A.P.(DIR Series) Circular No.13, dated September 1, 2003 has specified that Foreign Institutional Investors (FIIs) may trade in all exchange traded derivative contracts approved by SEBI from time to time subject to the limits prescribed by SEBI.
The Stock Exchanges may shift these companies from TFTS to NRS provided there are no other specific grounds for continuation of the trading in these scrips in TFTS.
