{"id":277276,"date":"2022-11-11T18:00:55","date_gmt":"2022-11-11T12:30:55","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=277276"},"modified":"2022-11-11T18:00:55","modified_gmt":"2022-11-11T12:30:55","slug":"sebi-circular-revising-chapterxx-operationalcircular-issueandlisting-nonconvertiblesecurities-securitizeddebtinstruments-securityreceipts-municipaldebtsecurities-commercialpaper-applicability-of-gst-o","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2022\/11\/11\/sebi-circular-revising-chapterxx-operationalcircular-issueandlisting-nonconvertiblesecurities-securitizeddebtinstruments-securityreceipts-municipaldebtsecurities-commercialpaper-applicability-of-gst-o\/","title":{"rendered":"SEBI modifies Operational Circular on issue and listing of NCS; Introduced a new tab for breakup of fee and GST"},"content":{"rendered":"<div style=\"text-align: justify; line-height: 150%;\">\n<p style=\"text-indent: 18pt;\">&#160; &#160;<\/p>\n<p style=\"text-indent: 18pt; margin-bottom: 3%;\">On 10-11-2022, the Securities and Exchange Board of India (&#8216;SEBI&#8217;) has issued circular revising the Chapter XX of Operational Circular for issue and listing of Non-Convertible Securities (&#8216;NCS&#8217;), Securitized Debt Instruments, Security Receipts, Municipal Debt Securities and Commercial Paper -Applicability of GST on fees remitted to SEBI. The provisions of this circular will come into force with immediate effect.<\/p>\n<p><b>Key Points:<\/b><\/p>\n<ol>\n<li>\n<p>Chapter XX was inserted in the operational circular through SEBI circular dated 13-04-2022, which provides the procedure for payment of fees under the heading &#8216;Bank account details for payment of fees&#8217;.<\/p>\n<\/li>\n<li>\n<p>SEBI vide circular dated 18-07-2022, notified that the following will be subject to GST at the rate of 18% (w.e.f. 18-07-2022):<\/p>\n<ul style=\"list-style-type: disc;\">\n<li>\n<p>Market Infrastructure Institutions;<\/p>\n<\/li>\n<li>\n<p>Intermediaries registered with SEBI;<\/p>\n<\/li>\n<li>\n<p>Companies which have listed\/ are intending to list their securities on the Stock Exchange;<\/p>\n<\/li>\n<li>\n<p>Persons who are dealing in the securities market.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li>\n<p>Accordingly, the following amendments are made in the format in paragraph (b) of Chapter XX (Bank account details for payment of fees):<\/p>\n<ul style=\"list-style-type: disc;\">\n<li>\n<p>Heading &#8216;Amount Remitted&#8217; now specifies the break- up of fee and GST.<\/p>\n<\/li>\n<li>\n<p>New headings introduced:<\/p>\n<p style=\"text-indent: 18pt;\">i) Remitter&#8217;s account number<\/p>\n<p style=\"text-indent: 18pt;\">ii) Remitter IFSC code<\/p>\n<p style=\"text-indent: 18pt;\">iii) Payment product code (NEFT, RTGS, etc.)<\/p>\n<p style=\"text-indent: 18pt;\">iv) Registered name of remitter<\/p>\n<p style=\"text-indent: 18pt;\">v) Registered office address of remitter including State\/UT<\/p>\n<p style=\"text-indent: 18pt;\">vi) Email address<\/p>\n<p style=\"text-indent: 18pt;\">vii) Complete address from where the money is being remitted including State\/UT<\/p>\n<p style=\"text-indent: 18pt;\">viii) GST Registration Number of the Remitter<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<hr\/>\n<p style=\"text-indent: 18pt;\"><strong><span style=\"color: #000080;\">*Kriti Kumar, Editorial Assistant has reported this brief.<\/span><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&#160; &#160; On 10-11-2022, the Securities and Exchange Board of India (&#8216;SEBI&#8217;) has issued circular revising the Chapter XX of Operational Circular <\/p>\n","protected":false},"author":67011,"featured_media":264666,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,1193],"tags":[52871,35845,6241,52872,50594,50596,2563],"class_list":["post-277276","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-notifications","tag-amount-remitted","tag-circular","tag-gst","tag-ncs","tag-non-convertible-securities","tag-operational-circular","tag-SEBI"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>SEBI modifies Operational Circular on issue and listing of NCS; Introduced a new tab for breakup of fee and GST | SCC Times<\/title>\n<meta name=\"description\" content=\"On 10-11-2022, the Securities and Exchange Board of India (\u2018SEBI\u2019) has issued circular revising the Chapter XX of Operational Circular\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2022\/11\/11\/sebi-circular-revising-chapterxx-operationalcircular-issueandlisting-nonconvertiblesecurities-securitizeddebtinstruments-securityreceipts-municipaldebtsecurities-commercialpaper-applicability-of-gst-o\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEBI modifies Operational Circular on issue and listing of NCS; 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