SEBI
SEBI vide Circular allowed options in commodity trading to enhance liquidity and broad base participation in the commodity market. At present, only “futures” contracts based on individual commodities are traded on commodity bourses. Following a recommendation by SEBI’s Commodity Derivatives Advisory Committee (CDAC), exchanges have been allowed to launch options. Every exchange will need a prior SEBI approval for launching “options”. However, the detailed norms for “options” trading will be released by SEBI later.
CBEC
CBEC has issued a notification ousting services by way of advancement of yoga from Service Tax ambit retrospectively. The Board has removed the service tax liability upon such services provided by an entity registered under section 12AA of the Income Tax Act retrospectively. The exemption is granted to services rendered during the period 1.07.2012 to 20.10.2015. Earlier according to a prevalent practice, there was non-levy of service tax on such services provided by entities registered under Section 12AA of Income-tax Act, 1961 (43 of 1961) and this service was liable to service tax, in the said period, which was not being paid according to the said practice.
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