SEBI
SEBI issued a Circular providing the Guidelines for Enhanced Supervision of Stock Brokers/Depository Participants. The
Guidelines include the nomenclature for bank accounts and demat
accounts which is to be uniformly followed, a Sophisticated alerting and
reconciliation mechanism for monitoring the Client’s Funds, Changes in
the existing system of internal audit for stock brokers/depository
participants and Imposition of uniform penal action in the event of
non-compliance with specified requirements. It further requires Stock
Exchanges/Depositories to disseminate the information provided in the
Circular on their website, make necessary amendments for attaining
uniformity and communicate to SEBI the status of implementation in their
Monthly Development Reports.
CBEC
CBEC has released Draft GST Formats, Forms and Rules. The
Board has released Draft Registration Rules & formats, Payment
Rules & formats and Invoice Rules & formats for public comments.
Further, CBEC has also released Draft formats for each of the Rules
mentioned herein which include Application for Registration under the
Act, Application for Registration for Non Resident Taxable Person,
Application for extension of registration period by Casual /
Non-Resident taxable person. Comments on Draft Rules and Formats may be
given by 28th September, 2016.
Thanks & Regards,
CS Meetesh Shiroya
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