Clearing Members for the Equity Derivatives, Currency Derivatives, Interest Rate Derivatives, New Debt, Commodity Derivatives and Electronic Gold Receipt (EGR) Segments of Indian Clearing Corporation Limited (ICCL) are hereby informed that as per Schedule V of Securities and Exchange Board of India (Stock Broker and Sub Broker Regulations, 1992), Members are required to pay SEBI Annual Membership fees of Rs.50,000/-, (Rupees Fifty Thousand Only) plus GST (18%) Rs.9000/- (Rupees Nine Thousand Only) amounting to total of Rs.59000/- (Rupees Fifty Nine Thousand Only) for each of the aforesaid segments in which they are Clearing Members. The fee shall not be applicable for Clearing Member in the Debt Segment if the Clearing Member has paid the fee as Clearing Member either for Equity Derivatives, Currency Derivatives, Interest Rate Derivatives, or Commodity Segment.
Further, as per SEBI Circular no. SEBI/HO/GSD/TAD/CIR/P/2022/0097 dated July 18, 2022 fees and other charges payable to SEBI shall be subject to GST at the rate of 18% with effect from July 18, 2022. In this regard, Clearing Members are informed that SEBI Annual Membership fees of Rs.59,000/- for F.Y. 2024-25, will be debited on April 30, 2024 (Tuesday) onwards till full collection of the fees to the respective segment’s Settlement Bank Accounts, for which they are Clearing Members. Kindly ensure that sufficient funds are maintained in the respective bank account/s on the aforesaid date.
Further, as per Securities and Exchange Board of India (Stock Brokers) Regulations, 1992, where due to the clearing member’s/ self-clearing member’s default any fee which was liable to be paid on its behalf remains unpaid or is paid belatedly, it shall, pay an interest of 15 per cent per annum for every month of delay or part thereof to SEBI.
No Invoices would be given to members with regards to SEBI Fees by ICCL. Please treat this Notice as an Invoice & GST Invoice would be given by SEBI directly to all members who are paying GST Fees. Please mail your GST Registration number and GST address to iccl.membership@icclindia.com
It may be noted that in case of those members whose bank accounts are not available for any of the above derivative segment or found that funds not available in the bank accounts provided, their Settlement Bank account for Equity Cash Segment will be debited. Members can transfer funds to the respective ICCL bank account & mail us the NEFT details.
In case of any clarifications, members are requested to kindly contact following ICCL officials:
For and on behalf of Indian Clearing Corporation Limited
Anita Bhatia
General Manager
Regulatory & Compliance |