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[No.
22]
Aug 10,
2002 |
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| SEBI |
|
Mutual Funds Division
Notification No.
SO809(E) Dated 30.07.2002 : In THIRD SCHEDULE, in clause 20 the
number of meetings required to be held in a year has been
increased from four to six.
In EIGHTH
SCHEDULE,
In clause 5, for the
figure "2%" the figure " 1%" has been substituted and Clause 6
relating to payment of the difference in amount to the
investors or scheme/s as the case may be, in case the Net
Asset Value of a scheme differs by more than 1%, due to non -
recording of the transactions, has been
inserted. |
| Department of Company Affairs |
|
Notification No.
GSR545(E) Dated 01.08.2002 : In the Schedule, in part – I under
the heading “B. VERTICAL FORM”, in the Notes at the end,
new para 3 has been substituted prescribing new procedures
for rounding off the figures in the Balance
Sheet. |
| CBDT |
|
Notification No.
198/2002,No. SO827(E) Dated 05.08.2002 : After rule 114A, rule
114AA relating to Application for allotment of a tax collection
account number has been inserted and FORM NO. 49B
i.e. Form of
application for allotment of Tax Deduction Account Number under
section 203A and Tax Collection Account Number under section
206CA of the Income-tax Act, 1961, has been
substituted.
Notification No.
197/2002, No. SO817(E) Dated 01.08.2002 : In Rule 3,-
(a) in sub-rule (6),
the following proviso has been inserted, “ Provided that nothing
contained in this sub-rule shall apply to the employees of the
Railways.”,
(b) in sub-rule (9),
in the second proviso, the words “or the Railways” has been
omitted.
Dated 30.07.2002 :
The Central Board of Direct taxes, has extended the date for
filing the income-tax return in respect of all return filers who
were due to file their returns upto 31st July, 2002 to 9th
August, 2002.
Notification No.
190/2002, No. SO804(E) Dated 29.07.2002 : Amendments have been
made in Form 2C by substituting the words “cellular telephone
not being a wireless in local loop telephone” in item (iii), in
Heading B and for item 3 in heading C.
Circular No. 6/2002
Dated 02.08.2002 : It has been clarified that the threshold
limit for the purpose of tax deduction at source from income by
way of dividends under section 194 and income in respect of
units under section 194K of the Income-tax Act shall be Rs.
2,500 (Rupees two thousand five hundred) with immediate
effect.
Notification No.
186/2002, No. 187/2002, No. 188/2002 and No. 189/2002 all Dated
29.07.2002, No. 195/2002 and No. 194/2002 Dated 31.07.2002 :
FICCI, Srimad Jagatguru Madhwacharya Moolamahasunsthana Uttaradi
Math, Bombay Gow Rakshak Mandali, Mumbai, Bochasanwashi Shri
Akshar Purushottam Swaminarayan Sanstha, Ahmedabad and Auroville
Foundation, Tamil Nadu have been notified u/s 10(23C) and U. P.
Cricket Association, Kanpur has been notified u/s
10(23).
Notification No.
199/2002 Dated 07.08.2002, No. 196/2002 Dated 01.08.2002, No.
192/2002 Dated 30.07.2002 and No. 193/2002 Dated 31.07.2002 :
M/s BPL Mobile Cellular Limited, Coimbatore, M/s Nhava Sheva
International Container terminal Ltd., Mumbai and M/s Samalpatti
Power Company Ltd., Chennai have been approved U/s 10 (23G) and
M/s. Aurobindo Ashram Trust, Pondicherry has been approved U/s
35(1)(ii) |
|
CBEC Customs-Tariff
|
|
Notification No.
76/2002 and No. 77/2002 Dated 08.08.2002 : Anti Dumping duty has
been imposed on Diclofenac Sodium imported from China and
on Biaxially Oriented Poly Propylene film (BOPP film)
imported from Taiwan, Hong Kong, Indonesia, Oman, Singapore and
Thailand.
Circular No. 47/2002
Dated 29.07.2002 : It has been clarified that the requests for
extension for a period beyond six months at the Chief
Commissioner’s level may be considered only in respect of
those cases where it is really warranted that the goods have to
be kept in the warehouse under circumstances beyond the
control of the importer viz. closure of the factory due to
strike, lock-out, natural calamities etc.
Circular No. 46/2002
Dated 29.07.2002 : It has been decided that transhipment permits
for containers would not be denied if the goods imported
at a customs station are manifested for being transhipped
to any port/airport or any ICD/CFS, subject further to the
procedures of examination and detention as
specified. |
| CBEC
Customs-Non Tariff
|
|
Notification No.
51/2002 NT Dated 06.08.2002 : In the Table, Serial number 2
relating to Bangladesh and entries relating thereto has
been substituted.
Notification No.
50/2002 NT Dated 29.07.2002 : In the Table, in serial
number 8 relating to the State of Maharshtra, against item
(4) relating to Ranpar, in column (4), in item (a), after
sub-item (v), the following has been inserted,
(vi) Methanol ,
(vii) Low Sulphur Heavy Stock
. |
| Service Tax
|
|
Notification No.
16/2002, No. GSR546(E) Dated 02.08.2002, No. 11/2002, No.
10/2002 and No. 9/2002 Dated 01.08.2002 : The following
Services have been exempted from service tax -
1. Services provided
to the United Nations or an International
Organisation
2. Taxable
service provided by a Beauty Parlour
3. Cargo Handling
Agency relating to agricultural produce or goods stored in cold
storage
4. Insurer
carrying taxable service
Circular Dated
01.08.2002 : It has been decided that the levy and collection of
service tax on the ten new services shall be effective
from 16.8.2002 (Refer notification No.8 /2002-ST, dated
1.8.2002)
Notification No.
15/2002 Dated 01.08.2002 : Explanation relating to non
applicability of the notification to the services provided
by a practising chartered accountant, a practising company
secretary or a practising cost accountant which may fall in any
other taxable services, has been inserted.
Notification No.
14/2002 Dated 01.08.2002 : The Central Government has made the
Service tax Credit Rules, 2002 to be effective from 16th
day of August, 2002.
Notification No.
13/2002 Dated 01.08.2002 : In the notification, for the words
“taxable service specified in sub-section (72) of section
65”, the words “taxable service specified in clause (90)
of section 65” have been substituted.
Notification No.
12/2002 Dated 01.08.2002 : In rule 2, in sub-rule (1), in clause
(d) :
1. in sub-clause
(iii), after the words “general insurance business”, the words
“or the life insurance business, as the case may be,” have
been inserted;
2. Clause (iv)
relating to taxable service provided by a non-resident, has
been inserted.
1. in sub-rule (1),
the second proviso has been omitted.
2. Sub rule 2A
relating to payment of Service Tax by cheque has been
inserted.
3. New Form ST-3 has
been substituted
Order No. 1/2002
Dated 01.08.2002 : In the order the meaning of the expression
"Agricultural Produce" has been clarified for the purposes
of clause (87) of section 65 of the Finance Act, 1994.
Notification No.
8/2002 Dated 01.08.2002 : The Central Government has appointed
the 16th day of August, 2002, as the date on which the
Finance Act, 1994 (32 of 1994) shall be amended as
provided in section 149 and the service tax shall be levied
under sub-section (6) of section 66 of the Finance Act,
1994 (32 of 1994). |
| Department of Economic
Affairs |
|
Notification No.
GSR532(E) Dated 29.07.2002 : After para - 3(1), the sub-para
3.(1)(i) relating to sponsorship by Indian Company for an
issue of ADRs/GDRs with an overseas depository, has been
inserted
Notification No.
GSR514(E) Dated 23.07.2002 : Table 29 to 37 has been inserted
after Table 28 and respective amendments have been made in
rule 10, 11 and 12.
Notification No.
SO780(E) Dated 23.07.2002 : The Central Government has appointed
ICICI Bank, a company registered under the Companies Act,
1956 and granted licence by the Reserve Bank of India
under Banking Regulation Act, 1949 and having its registered
office at "Landmark", Race Course Circle, Vadodara - 390
007, Gujarat, as its designated person in place of ICICI and
delegates to ICICI Bank the powers and functions
exercisable under section 4, 5 and 8 of Shipping
Development Fund Committee (Abolition) Act,
1986. |
| RBI |
|
Circular No. AP (DIR
Series) Circular No 8 Dated 05.08.2002 : It has been decided to
introduce an 'Automatic Route' for prepayment of External
Commercial Borrowings (ECBs) for a limited period up to
March 31, 2003. The automatic route will be available only to
borrowers who have complied with all the relevant Acts,
Guidelines, Rules, Regulations and/or conditions, if any, of
the Government/RBI while availing of the ECB.
Circular No. AP (DIR
Series) Circular No 7 and No 6 Dated 29.07.2002 : Export Import
Bank of India (Exim Bank) has concluded an agreement with
the Banco Bradesco S.A., Brazil and Banco Industrial de
Venezuela (BIV), Venezuela making them available, a line of
credit upto an aggregate sum of US$ 10 million.
Notification No. DBOD
No Dir BC 15/13.01.01/2002-03 Dated 06.08.2002 : It has been
decided that the donations made by banks to the Prime
Minister's Relief Fund will, hereafter, be exempted from
the ceiling of 1 per cent of published profit for the previous
year or Rs 5 lakhs in case of loss making banks as the
case may be.
Notification No. DBOD
No Dir BC/ 11 /13.03.00/2002-03 Dated 30.07.2002 : The Master
Circular DBOD.No.Dir.BC.6/13.07.01./2001-2002 dated 9th
August 2001 consolidating instructions/guidelines issued
to banks till 30 June 2001 on matters relating to Interest Rates
on Advances has been suitably updated by incorporating
instructions issued till date.
Notification No. DBOD
No Dir BC 9/13.03.00/2002-03 Dated 29.07.2002 : The Master
Circular DBOD. No. Dir.BC. 11/13.03.00/2001-02 dated 13th
August 2001 consolidating the instructions/guidelines
issued to banks till 30th June 2001 relating to statutory and
other restrictions on Loans and Advances has been suitably
updated by incorporating the instructions issued up to 30th June
2002
Notification No. Dir
BC 8 /13.03.00/2002-03 Dated 26.07.2002 : In supersession of
the instructions already given, banks are now advised to
follow the undernoted consolidated instructions in regard
to switchover to the system of charging monthly interest on
loans and advances:
1.Banks have option
to compound interest at monthly rests effective either from
April 1, 2002, or July 1, 2002 or April 1,
2003.
2.With effect from
quarter beginning July 1, 2002, banks should ensure that the
effective rate does not go up merely on account of the
switchover to the system of charging / compounding
interest at monthly rests and increase the burden on the
borrowers.
Notification No. DBOD
No Dir BC 07/13.03.00/2002-2003 Dated 26.07.2002 : The Master
Circular DBOD.No.Dir.BC.13/13.00.03/2001-2002 dated 13
August 2001 consolidating instructions/guidelines issued
to banks till 30 June 2001 on matters relating to issue of
Guarantees and Co acceptances by banks has been suitably
updated by incorporating instructions issued upto 30 June
2002
Notification No. EC
CO FMD/2/02.03.75/2002-03 Dated 31.07.2002 : Clarifications have
been issued regarding Para 2 of the Circular
No.EC.CO.FMD.790/02.03.75/ 2001-02 dated 26th March 2002 on
the cancellation and rebooking of Forward Contracts to all
the Authorised dealers.
Notification No. IDMC
PDRS No 418 /03.64.00/2002-03 Dated 26.07.2002 : In view of the
systemic importance of PDs in the financial markets, in
consultation with Primary Dealers Association of India, it
has been decided that PDs should publish their audited annual
results (viz. Balance Sheet and Profit and Loss account)
in leading financial dailies and on their website in the
format enclosed.
Notification No.
MPD/07.01.279/2002-03 Dated 31.07.2002 : As per the policy
announced earlier, and following the recommendations of
the Working Group constituted to suggest the criteria for
fixing limits for transactions of Primary Dealers (PDs) in
call/notice money market as also to suggest a roadmap for
phasing them out from call/notice money market, it has been
decided to stipulate prudential limits on the lending and
borrowing of PDs in call/notice money market.
Notification No. RPCD
NO PLFS BC/2/05.04.02 /2002-2003 Dated 03.08.2002 : All
Scheduled Commercial Banks have been advised to take
immediate action in terms of the standing guidelines
issued in Circular RPCD.NO. PS.BC.6/PS.126-84 dated 2nd August
1984 further modified vide circular RPCD.NO.PLFS.BC.128 /
05.04.02 /97-98 dated 20th June 1998, in providing
appropriate relief to the persons affected by natural
calamities.
Press Release No.
153/2002-2003 Dated 09.08.2002 : Towards providing better
customer service and as a further measure of
liberalisation, the Reserve Bank has decided to consider need
based requests from ADs for higher overnight open position
limits.
Press Release No.
149/2002-2003 Dated 09.08.2002 : The Reserve Bank of India has
set in motion a Technical Assistance Programme for
strengthening the Management Information System (MIS) in
co-operative banks.
Press Release No.
131/2002-2003 Dated 05.08.2002 : In line with the Reserve Bank’s
approach for simplification of procedures and extending
facilities under automatic route, it has been decided, on
experimental basis, to introduce an automatic route for
prepayment of external commercial borrowings which would
be available upto March 31, 2003, for the specified
categories.
Press Release No.
130/2002-2003 Dated 05.08.2002 : Reserve Bank of India had
set-up a working group comprising officials from market
participants and the Reserve Bank of India which submitted
its Report on July 11, 2002.
Press Release No.
114/2002-2003 Dated 31.07.2002 : The Reserve Bank of India has
stipulated prudential limit on lending by primary dealers
(PDs) in call/notice money market with effect from October
5, 2002. |
| DGFT |
|
Public Notice No.
29/2002-07 Dated 06.08.2002 : It has been informed that in
pursuance of the relevant provisions contained in the
Indo-USSR deferred payments protocol dated the 30th April,
1981 and 23rd December, 1985 between the Government of India and
the erstwhile USSR, the Reserve Bank of India has further
revised the Indian Rupee Value of the Special Currency Basket to
Rs. 55.7981 to be effective from 27.06.2002.
Public Notice No. 28
(RE-2002)/2002-2007 Dated 02.08.2002 : To facilitate exports,
the Director General of Foreign Trade has laid down, that
all the fresh fruits and vegetables exported to European
Union may be inspected and certified by the Directorate of
Marketing and Inspection , Department of Agriculture &
Cooperation , Ministry of Agriculture.
Public Notice No.
27/(RE- 03)/ 2002-2007 Dated 01.08.2002 : The Director General
of Foreign Trade has made certain
amendments/modifications, Corrections and additions in the
Handbook of Procedures, Vol.2, 2002-2007, as
specified.
Notification No.
11/2002-2007 Dated 01.08.2002 : The Central Government has
amended/corrected the following Paragraphs of Export and
Import Policy 2002-2007
1.Para 2.40
pertaining to "Denomination of Export Contracts"
2.Note 1 of
Para 3.7.2 pertaining to "Export Performance
Level"
3.Paragraph 4.4.5 (b)
pertaining to Silver Jewellery
Public Notice No.
26/2002-07 Dated 01.08.2002 : The DGFT has made the following
amendments in the Handbook of Procedures.
1.It is clarified
that the date of expiry of the licence as mentioned in paragraph
4.27.1. would mean 18 months from the date of issue of the
Advance Licence for Annual Requirement.
2.New sentence
relating to status of Export House is added in the “Certificate
of Chartered Accountant/Cost and Works Accountant/Company
Secretary” in Appendix 17 and 17A.
3.The entry at S No.
10 of the List of IS/ISO 9000 (Series) Certification agency
under Appendix 28 A has been amended.
Circular No.
10/2002-2007 Dated 01.08.2002 : It has been clarified that in
case of applications under EPCG for the service sector by
service providers, the registration certificate from the
Service Tax Authorities would be insisted upon only if the
service provided under the EPCG Licence is "taxable" as
per Part (72) of Section 65 of Chapter V of the Finance Act,
1994 (as amended from time to time) |
| Department of
Commerce |
|
Notification No.
63/1/2001-DGAD Dated 29.07.2002 : Preliminary findings regarding
Anti-dumping investigation concerning imports of certain
types of Acyclic Alcohols originating in or exported from
Singapore, Brazil, Romania, Malaysia and South Africa into India
have been published. |
| Ministry
of Chemicals and
Fertilizers |
|
PIB Release dated
07.08.2002 : National Pharmaceutical Pricing Authority has
revised the price of bulk drugs Sodium Penicillin G from
Rs.1094/BU to Rs.1207/BU, Benzathine Penicillin G from
Rs.2582/Kg. to Rs.2583/Kg., and Procaine Penicillin G from
Rs.1318/BU to Rs.1397/BU vide notification in the Gazette
of India Extraordinary No. S.O.829 (E) dated 6th August,
2002. |
| Ministry
of Consumer Affairs, Food
and Public Distribution |
|
Notification No.
GSR531(E) Dated 30.07.2002 : After regulation 2 for the heading
the heading "MANNER, CONDITION, RATES OF FEE FOR GRANT AND
RENEWAL OF LICENCE (EXCEPT FOR MANAGEMENT SYSTEMS)" has
been substituted and for regulation 7, the regulation relating
to "MANNER, CONDITION AND FEES FOR GRANT AND RENEWAL OF
LICENCE FOR MANAGEMENT SYSTEMS", has been
substituted.
Notification No. GSR
533(E)/Ess.Com./Sugarcane Dated 31.07.2002 : (i) for the words
“Uttar Pradesh”, the words “Uttar Pradesh, Uttaranchal”
have been substituted;
(ii) for the words
“Cane Commissioner, Uttar Pradesh”, the words “the Cane
Commissioner, Uttar Pradesh, the Cane Commissioner,
Uttaranchal” have been substituted.
Notification No.
GSR534 (E)/Ess.Com./Sugarcane Dated 31.07.2002 : In the
notification, for the words “Uttar Pradesh”, the words
“Uttar Pradesh, Uttaranchal” have been
substituted. |
| Ministry
of Environment and
Forests |
|
PIB Release dated
07.08.2002 : The Government has decided to ratify the Kyoto
Protocol on containing the emission of Green House Gases
(GHG) that result in Climate Change with adverse
consequences on food productivity, sea level, water resources,
forests and other eco systems. |
| Ministry
of Health and Family
Welfare |
|
Notification No.
GSR530(E) Dated 29.07.2002 : Rule 22 relating to Quantity of
sample to be sent to the public analyst has been
substituted and Form II and Form III, have been substituted
in Appendix A to the rules. |
| Ministry
of Labour |
|
Notification No.
SO816(E) Dated 01.08.2002 : The Central Government has appointed
Shri Dashrath Singh, Deputy Director General, Directorate
General of Mines Safety, Eastern Zone, Sitarampur to be
the Chief Inspector of Mines for all the territories to which
the Mines Act, 1952 extends. |
| Press
Information Bureau |
|
Dated 09.08.2002 :
The Government is considering amending the Minimum Wages Act,
1948 to improve its compliance.
Dated 08.08.2002 :
The Supreme Court has formulated some broad guidelines for
appointment of a sitting judge of High Court only to a
Commission in its judgment of July 12, 2002 in T. Fenn
Walter & Others Vs. Union of India and Others.
Dated 05.08.2002 :
The Supreme Court in its judgment of May 6, 2002 in the case of
Brij Mohan Lal Vs. Union of India and Others have upheld
the Constitutional and legal validity of Fast Track Courts
scheme and have laid down guidelines for their efficient
functioning and the monitoring of their
performance.
Dated 02.08.2002 :
The Urban Land (Ceiling and Regulation) Act, 1976 is still in
force in the States of Andhra Pradesh, Assam, Bihar,
Orissa, Maharashtra and West Bengal despite the Government
of India having already repealed the same with effect from
January 11, 1999.
Dated 29.07.2002 :
The Government introduced on March 19, 2002, the Election and
Other Related Laws (Amendment) Bill, 2002, based on
Indrajit Gupta Committee Report on Electoral Reforms and
following an intensive discussion with the leaders of the
political parties on September 13, 2001.
Dated 29.06.2002 :
The Centre has requested the Chief Justices of all the 21 High
Courts in the country to furnish information on
institution and disposal of main cases during 1997-2001 by
July 31, 2002 for a comprehensive review of the judge
strength of the High Courts during the current
year. |
| |
| Bills |
- The text of following
Bills introduced in the Monsoon Session are available on the
site.
The Merchant Shipping
(Amendment) Bill, 2002 (As Introduced In The Rajya Sabha –
30.07.2002 - Bill No. LXVI Of 2002)
The Indian Medicine
Central Council (Amendment) Bill, 2002 (As Introduced In The
Rajya Sabha – 24.07.2002 - Bill No. LIX of 2002)
The Prevention of
Money-Laundering Bill, 1999 (As Passed by Lok Sabha – 02.12.1999
- Bill No. 72 of 1999) (Also Incorporating Amendments made by
Rajya Sabha) |
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