SEBI clarifies on NAV for the switch in transaction

Notification No. SEBI/H0/1MD/DF2/0W/P/2020/20589/1 (27/11/2020)

As the NAV for the switch out (redemption/repurchase) transaction in a liquid scheme for the request received before the cut-off timing on Friday or on a day preceding a non-business day would be the closing NAV of the day immediately preceding the next business day, therefore, the NAV applicable for the coinciding switch in (subscription...

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Advisory on Unblocking of E-way Bill – Phase II functionality in ACES

Advisory No. 13/2020 (27/11/2020)

As on date, the taxpayers are required to file the EWB-05 application manually with jurisdictional office. With the roll out of this functionality, the entire process of filing the application and processing is made online. The tax Payer needs to file EWB -05 application for unblocking of e-way Bill generation facility in the GSTN portal....

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Release of module for issue of Appeal Number for departmental appeal filed in GST Form APL- 03 – Reg

Advisory No. 12/2020 (24/11/2020)

Functionality built for Issue of Appeal Number for Departmental appeal filed in form APL-03 is now available for use by officers of Appeal commissionerates....

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Manufacture & Other Operations in Customs Warehouse- FAQs

F. No. 484/03/2015-LC (Pt) (27/10/2020)

CBIC) have launched a revamped and streamlined program to attract investments into India and strengthen Make in India. This program is based upon Section 65 of the Customs Act, 1962, which enables conduct of manufacture and other operations in a Customs bonded warehouse....

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Whether a BRLM can share bidding data available on website of stock exchanges for IPO?

CFD/DI L-1/OW/2020/17828/1 (23/10/2020)

i. Whether a BRLM can share the standalone or aggregate bidding data available on the website of the stock exchanges for IPO, Rights issue, and FPO of specified securities and units with the investors, during the bidding period; ii. Whether a BRLM can share the standalone or aggregate bidding data available on the website of the stock...

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LLP must net-worth criteria to be eligible ‘angel investor’ despite partners meeting the same

Notification No. SEBI/HO/IMD/DF6/0W/P/2020/15440 (17/09/2020)

 LLP and its partner(s) are distinct persons. As per Regulations 19A(2), it is the LLP which should meet the minimum net-worth criteria of INR 10 Crores. Thus, an LLP not meeting the minimum net worth criteria of at least Rs. 10 Crores, would not be an eligible ‘angel investor’ even if its partners qualify as’angel [&he...

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ICES Advisory for different facets of faceless assessment

ICES Advisory No: 32/2020 (13/09/2020)

In pursuance of Board's Circular 40/2020 - Customs dated 04.09.2020, the roll-out of Faceless Assessment at an All India level in all ports of import and for all imported goods has to be enabled by 31.10.2020. The detailed roll-out plan in phases covering different Customs Zones and Chapters of the Customs Tariff Act, 1975, including the ...

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Grant of Parole/Furlough to inmates & their premature release from Prison

F. No. 17013/23/2020-PR (03/09/2020)

Prison, as a deterrent and an institution of correctional administration, is a key constituent of criminal justice system. Imprisonment besides being a mode of punishment also aims at protecting the society from criminal activities. A balance is, therefore, considered essential between ensuring the rights of inmates and protecting the soc...

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Roll out of GST Investigation Module by CBIC – Phase-1 – Advisory

Advisory No. 11/2020 (28/08/2020)

Directorate General of Systems and Data Management, Bengaluru Zonal Unit has been given the mandate of development of Investigation (Enforcement) sub-module under the Dispute Settlement and Resolution (DSR) module of ACES-GST application. Directorate General of GST Intelligence - DGGI (then DGCEI) – CBIC is the Business owner of this su...

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Roll out of GST Investigation Module – Phase-1

Advisory No. 11/2020 (28/08/2020)

GST Investigation module has been designed keeping the current work flow in a distinct CBIC’s investigative Unit’s functions and to replace the manual and paper based environment with a digital mode....

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January 2021