SEBI:
SEBI has permitted Foreign Portfolio Investors to invest in corporate debt securities and notified the SEBI (Foreign Portfolio Investors) (Second Amendment) Regulations, 2017. It has been decided to permit Foreign Portfolio Investors (FPIs) to invest in Unlisted corporate debt securities in the form of non-convertible debentures/bonds issued by public or private Indian companies subject to the guidelines issued by the Ministry of Corporate Affairs, Government of India from time to time and also subject to minimum residual maturity of three years and end use-restriction on investment in real estate business, capital market and purchase of land. Further, it has also been decided to permit Foreign Portfolio Investors (FPIs) to invest in Securitised debt instruments like any certificate or instrument issued by a special purpose vehicle (SPV) set up for securitisation of asset/s where banks, FIs or NBFCs are originators; and/or any certificate or instrument issued and listed in terms of the SEBI (Public Offer and Listing of Securitised Debt Instruments) Regulations, 2008. However, this Investment by FPIs shall not exceed INR 35,000 crore.
CBEC – Service Tax
The Central Government is satisfied that in the period commencing on and from the 1st day of July, 2012 and ending with the 31st day of March, 2015, according to a practice that was generally prevalent, there was non levy of service tax, on the services by way of admission to a museum and this service was liable to service tax, in the said period, which was not being paid according to the said practice. It has now been decided to provide exemption to service tax payable on the services by way of admission to a museum under section 66B of the Finance Act, 1994 but for the said practice, during the said period, shall not be required to be paid.
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