Sebi issues new format for disclosing payment of fees
Nov 10, 2022
Sebi on Thursday issued a new format for disclosing details pertaining to payment of fees applicable under the issuance of debt securities rules. In July, Sebi said that market infrastructure institutions, including stock exchanges, registered intermediaries and companies that have listed or are intending to list their securities on a stock exchange have to pay 18 per cent GST on the fees charged by the regulator.
This is also applicable for persons who are dealing in the securities market.
The tax rate was effective from July 18.
The Securities and Exchange Board of India (Sebi) has amended the chapter that deals with bank account details for payment of fees of the NCS (Issue and Listing of Non-Convertible Securities) rules, according to a circular.
Under the new format, issuers who have listed and/ or propose to list non-convertible securities, stock exchanges and other entities will have to disclose to Sebi about date of remittance, amount remitted -- break-up of fee and GST thereof -- GST Registration number of remitter, among other details.
The issuers would also have to mention the purpose for which remittance was made and details about the registered office address of the remitter.
The circular would come into force with immediate effect, Sebi said.
[The Economic Times]