With a view to rationalising foreign investment regime for Alternative Investment vehicles and to facilitating foreign investment in collective investment vehicles for real estate and infrastructure sectors, it has been decided, in consultation with the Government of India, to allow foreign investment in the units of Investment Vehicles registered and regulated by SEBI or any other competent authority.
The Reserve Bank of India (RBI) compiles and publishes on a daily basis the Reference Rate for Spot USD/INR. Under the existing methodology, the rate is arrived at through a polling process involving rates obtained from select banks.
The Reserve Bank of India today issued the Master Directions on Issue and Pricing of shares by Private Sector Banks. The Master Directions issued today consolidates all relevant instructions issued by the Reserve Bank of India (RBI) so far on the subject and will be applicable to all private sector banks licensed to operate in India by the RBI.
The term delisting of securities means removal of securities of a listed company from a stock exchange. As a consequence of delisting, the securities of that company would no longer be traded at that stock exchange.
In order to streamline procedures for issuance of debt securities on private placement basis and enhance transparency to discover prices, it has been decided to lay down a framework for issuance of debt securities on private placement basis through an electronic book mechanism.
It has been decided that requirement of manufacturer certificate from OEMs in case of retrofitment of vehicles, after purchase, shall be dispensed with. Instead the certificate from District Road Transport Officer, as per annexure, would be sufficient for applying to this Department in the prescribed Performa alongwith remaining documents/papers as mentioned in the scheme for obtaining excise duty concession certificate from the Department of Heavy Industry.
Government had issued a notification dated 10th February 2016 regarding rules for withdrawal from EPF Funds by the members. Under the revised rules, the employee was permitted to withdraw the employees’ share from the fund (which is 12% of the wages). However, it was prescribed that the employers’ share of contribution towards the Provident Fund […]
Vide Notification No. 38 dated 5th February, 2016, Government has imposed Minimum Import Prices (MIP) on 173 tariff lines under Chapter 72 (Iron & Steel). The same Notification also protects imports/shipments after 5th Feb, 2016, which are negotiated and finalised under Irrevocable Letter of Credits (ILCs) before the date of the said Notification under Para 1.05(b) of FTP, provided these ILCs are registered with Jurisdictional RAs within a period of 15 days.
In Schedule A Maharashtra Value Added Tax Act, 2002, in entry 51, in column (2), for sub-entry (vii), the following sub-entry shall be substituted, namely :— (vii) Towels.
It has been brought to the notice of this Directorate that some exporters are classifying the item Tamarind Kernel Powder under ITC(HS) Code 11063010 and claiming MEIS benefit. It is clarified that the correct ITC(HS) Code of Tamarind Kernel Powder is 13023290 on which MEIS benefit is not available.
