With a view to have a more realistic assessment of the institutional investments it is proposed that custodians should provide the market value of the securities held in custody with them on a monthly basis.
Circular No. 575/12/2001-CX I am directed to say that the PAC (CX-7) Section of the Board receives at least 23 reports/returns (most of them monthly, some fortnightly, some quarterly, some yearly etc.) from each of the sixty one Central Excise Commissionerates spread all over India.
Circular No. 8/2001-Income Tax The Board’s order under section 119(2)(b), dated 12th October, 1993 and Circular No. 670 dated 26th October, 1993 [F. No. 225/208/93/IT (A-II)] lay down procedure for condonation of delay in belated claims of refunds. These provide that CIT has power to condone delay in case of genuine hardship of refund claims up to Rs. 10,000 and CCIT up to Rs. 1,00,000. The power of condonation
All proposals in excess of the above powers are to be sent to the Ministry through Commissioner (Systems). All Heads of Departments are advised to send consolidated proposal for their Commissionerate. The proposal shall indicate clearly that Head of Department has exercised his powers upto Rs. 2 lakhs for award of AMC in the current financial year.
Circular No.576/13/2001-CX A doubt has been raised as to whether in respect of goods covered under heading 30.03, labeling or re-labeling of containers in order to comply with the provisions of any State or Central Act shall amount to manufacture as per note 5 of Ch. 30 of the Central Excise Tariff Act.
In continuation of this Department’s General Circular No.12/2000 (issued vide letter No.1/6/2000-CL.V) dated 25th October, 2000, I am directed to say that the step 2 for implementation of Corporate Identity Number (CIN) provides that in a case if a company is operating in diverse fields, the economic activity as “00000” has to be assigned.
These instructions have been issued in exercise of the powers conferred under section 11 of the Securities Exchange Board of India Act, 1992 and in furtherance of the requirements of the Securities and Exchange Board of India (Bankers to an Issue) Rules and Regulations, 1994.
Accordingly, I am directed to say that, henceforth, all the notification issued u/s.8 of the said Act by the Commissioners shall contain location code of that station. The Commissioners should obtain such codes from the Directorate of Systems prior to issuance of notification. As regards existing notifications, Commissioners are requested to re-issue
These guidelines are being issued in accordance with the provisions of Regulation 77 of the SEBI (Mutual Funds) Regulations, 1996. All mutual funds shall report Implementation of the guidelines to SEBI by May 22, 2001.
All past approvals granted by the Inter Ministerial Committee have lapsed on 31.3.2001; renewal of the same shall be considered by the Committee in the light of these guidelines, upon fresh application. If upon consideration, the same is approved for renewal, the renewal shall be effective from 1.4.2001 in these cases.
