Instead of Issuer Company, the Merchant Bankers shall respond to the complainant directly after independently examining the matter and exercising the due diligence.
In addition to the above, the Exchanges are also advised to send complete bio-data of members of the respective committees highlighting necessary professional competence and experience in the areas related to securities / derivatives markets.
Trade Circular No. 6 T of 2008 Section 51 of the Maharashtra Value Added Tax Act, 2002 deals with grant of refunds. The corresponding Rules are Rule 60 and Rule 61 of the Maharashtra Value Added Tax Rules, 2005. The provisions of Bank Guarantee are prescribed in Rule 61. The Trade Circulars No. 33T of 2005 Dt. 21.10.2005 and 56 T Dt.23.08.2007 were issued by this office in respect of Bank Guarantee for the purpose of grant of refunds under the Maharashtra Value Added Tax Act, 2002.
It has since been observed that some of Regional Authorities have been sending the request for extension of block of years to the Headquarters. In this regard, reference is invited to the provisions contained in Para 5.11 of HBP whereby Regional Authorities have been authorized for considering the request for extension in export obligation period. The issues relating to extension in Export Obligation period and extension in block of years are thus interlinked and hence have been re-examined.
In light of the recent policy developments on account of waiver of load for direct applicants and removal of initial issue expense, format of the New Scheme Report has been revised. A copy of the revised format is enclosed.
communicate to SEBI the status of implementation of the provisions of this circular in the Monthly Development Report.
The undersigned is directed to refer to Circular no. 863/1/2008 dated 18th January, 2008 issued vide F. No.354/122/2002-TRU [Pt.I] and to state that Board has already assigned the said circular number to another Circular (vide F. No. 275/116/2007-CX8A on 2.1.2008) pertaining to filing of appeals in the Supreme Court
directed to forward herewith a copy of the Notification published in the Gazette of India for your information and necessary action.
Trade Cir. No. 4 T of 2008 Section 31 of the Maharashtra Value Added Tax Act, 2002 provides for deduction of tax at Source. Section 31(1) (b) (ii) of the Act empowers the Commissioner of Sales Tax to grant certificate to a contractor who is not doing Works contract. Where an application is made by the contractor and if the Commissioner is satisfied that the contract is not a works contract, then, he shall grant him the certificate for non-deduction of tax at source. The Commissioner may, after giving the contractor a reasonable opportunity of being heard, reject the application or cancel or modify such certificate.
These guidelines are issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with the provisions of Regulation 77 of SEBI (Mutual Funds) Regulations, 1996.
