Corporate Updates – 22-09-2016


CBEC has exempted the requirement of enclosing photocopies of Railway Receipts (RR) with the ‘Service Tax for transportation of goods by rail’ (STTG) Certificate for availing CENVAT Credit. The Board has prescribed a fresh procedure for availing CENVAT Credit of service tax paid on transportation of goods by rail. Instead of providing copies of railway receipts, the details of RRs shall form part of the STTG certificate in a tabular format provided as an annexure to the circular. The circular also provides for the format of STTG Certificate. Rule 9 of CENVAT Credit Rules, 2004 provides for the documents on the basis of which CENVAT credit shall be taken by the manufacturer or the provider of output service or input service distributor, as the case may be.


SEBI allowed Commodity Exchanges to modify Futures Contract specifications pertaining to quality parameters. The exchanges are permitted to modify futures contract specifications related to ticker symbol, maximum order size, trading unit, delivery unit, quotation base value, tick size, delivery centres, issue related to premium /discount, quality parameters and its relevant aspects such as quantity variation and tolerance limit. The norms would come into effect immediately. Further, SEBI has asked exchanges not to change the contract specification and the launch calendar of contracts without prior SEBI approval. The exchanges are required to inform SEBI if they decide not to launch a fresh contract even after getting the approval for continuous trading.

News from NIRC of ICSI

1. Registration open for NIRC’s Workshop on "GST – IMPACT & PREPAREDNESS", Key-Note Address by Mr. Ravneet Khurana, Deputy Commissioner, GST, CBEC" on Saturday, the 24th September, 2016 (Registration starts at 9.00 AM) from 10.00 am onwards at Auditorium, ICSI-NIRC Building, 4, Prasad Nagar Institutional Area, New Delhi Fee : Rs. 400/- per delegate (Inclusive of Service Tax) upto today 22-09-2016 thereafter Rs. 500/- including Corporate Members of NIRC, Online Payment / Registration Facility Available; Free For Members of Yuva Corporate Membership Scheme of NIRC; Program Credit Hours: 06.

2. NIRC of ICSI is participating in the ensuing Airtel Delhi Half Marathon -2016 (6 km ‘Great Delhi Run’), which will be held on Sunday, the 20th November, 2016. NIRC would be participating in the group category with a group named as “ICSI Group”. Interested members may fillup the form for the ‘Great Delhi Run’ 6 km category and send the hard copy of the filled up form along with a copy of the photo id proof, passport size photograph and deposit the above along with a fee of Rs. 600/- on or before 1st October, 2016 by cash or by cheque/DD in favour of “NIRC of ICSI” with full details on the reverse side of the cheque/DD i.e. full name, contact number, Membership No. To make the payment online, please Click Here.

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