Corporate Updates – 18-10-2017


The SEBI has issued circular to notify the amendments to Securities and Exchange Board of India (International Financial Services Centres) Guidelines, 2015. In order to further streamline the operations at IFSC, based on the internal discussions and consultations held with the stakeholders, it has been decided to further streamline the process and to protect the interests of investors in securities and to promote the development of and to regulate the securities market. It is now decided to allow any entity based in India or in a foreign jurisdiction may form a company in IFSC to act as a trading member of a stock exchange and/or a clearing member of a clearing corporation in IFSC.


The Directorate General of Foreign Trade has notified the Amendments in Foreign Trade Policy 2015-2020. Various provisions of Foreign Trade Policy 2015-20 is amended to enable certain additional duties / taxes / cess exemptions for Advance authorisations, EPCG Authorisations and units under EOU / EHTP / STP/ BTP Scheme. Accordingly, Import under EPCG Scheme shall be subject to an export obligation equivalent to 6 times of duties, taxes and cess saved on capital goods, to be fulfilled in 6 years reckoned from date of issue of Authorisation.

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