Attention is invited to the provision contained in paragraph 4.1.5 of FTP wherein it has been stated that the “Advance Authorisation and / or materials imported thereunder will be with Actual User Condition. However, in case of Advance Authorisation wherein the input allowed is Raw Sugar, a special dispensation was allowed vide CBEC letter No. 605/68/2004-DBK dated 21.9.2004.
While notifying new areas for imposition of Service Tax, Department of Revenue would simultaneously issue Refund Notifications for such Services rendered for exports wherever linkage could be established with exports by verifiable methods.
.In the Securities and Exchange Board of India (Venture Capital Funds) Regulations, 1996, in Second Schedule, in Part A, for the word and figure “Rs. 10,00,000”, the word and figure “Rs.5,00,000” shall be substituted.
Based on experience gained and awareness generated, derivatives on Bond Index shall be considered for introduction in due course of time.
Para 2 (VI)- Duty payment- As e-payment has been made mandatory for units paying duty of more than Rs. 50 lakh through PLA, this clause is deleted. Large Taxpayers should pay all taxes through e-payment mode only.
communicate to SEBI, the status of the implementation of the provisions of this circular in the Monthly Development Report.
In the light of the representations received regarding similar exemption for investments in mutual funds, it has been decided to exempt investors residing in the state of Sikkim from the mandatory requirement of PAN for their investments in mutual funds also.
.In the Securities and Exchange Board of India (Venture Capital Funds) Regulations, 1996, in Second Schedule, in Part A, for the word and figure “Rs. 10,00,000”, the word and figure “Rs. 5,00,000” shall be substituted.
It has been decided that for Readymade Garments of Textiles & Leather, where the requirement of fabric, depending on pattern / style / design of garment, is more than 7.5% of the existing SION (e.g. where a SION specifies 2 square meters / piece but the requirement of fabric is more than 2.15 square meters / piece), RAs shall consider issuance of ad-hoc Advance Authorisation under Para 4.7 for export of readymade garments that are based on particular styles / patterns / designs.
SEBI vide circular dated December 20, 2007 had specified the broad framework for short selling by institutional investors and a full-fledged securities lending and borrowing scheme for all market participants.
