The Procedure and conditions for export of cotton has been modified. Maximum limit for obtaining RC has been increased to 30,000 bales. Multiple RCs can be applied within this eligibility. RAs Ludhiana, Rajkot and Vishakhapatnam have also been designated for issue of RCs for export of cotton. RC quantities will be in MTs. Other conditions stipulated in Notification No. 17 dated 1st October, 2012 remain.
General Anti-Avoidance Rules The GAAR (General Anti-Avoidance Rule) provisions have not been put on hold. The Finance Act, 2012 had provided that these provisions shall be effective from the 1st day of April, 2014 and apply to Assessment year 2014-15 onwards.
Notification No. [HRD/CM/103/2010-11/1055] The Department’s Annual General Transfer Pricing Policy shall apply for selection of officers for being posted in the Directorates of International Taxation &. Transfer Pricing subject to the condition that:
Filing of cost audit report with Central Government.- Every cost auditor or every lead cost auditor on behalf of all the cost auditors of a company, has to file its cost audit report and other documents as required under sub-section (4) of section 233B of the Act, and rules made thereunder with the Central Government using the Extensible Business Reporting Language (XBRL) Taxonomy given in Annexure III
