Sebi released a new format on Thursday for disclosing details relating to the payment of applicable fees under the debt securities issuance rules.
In July, Sebi said market infrastructure institutions, including stock exchanges, registered intermediaries and companies that have listed or intend to list their securities on a stock exchange, must pay 18% GST on the fees charged by the regulator.
This also applies to people who trade on the securities market.
The tax rate went into effect on July 18.
The Securities and Exchange Board of India (Sebi) has amended the chapter that deals with bank details for the payment of NCS (Issue and Listing of Non-Convertible Securities) fees, according to a circular.
Under the new format, issuers that have listed and/or propose to list non-convertible securities, stock exchanges and other entities will be required to disclose to Sebi the remittance date, amount remitted — breakdown of fees and GST associated — Sender’s GST registration number, among other details.
Issuers should also state the purpose for which the remittance was made and details of the remitter’s registered office address.
The circular will come into effect with immediate effect, Sebi said.
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