"21 October 2015" Archive

Annual Return on Foreign Liabilities and Assets– Reporting by LLPs

RBI/2015-16/210 A. P. (DIR Series) Circular No. 22 21/10/2015

In order to capture the statistics relating to Foreign Direct Investments (FDI), both inward and outward, by Limited Liabilities Partnerships (LLPs) in India, it has been decided that henceforth, all LLPs that have received FDI and/or made FDI abroad (i.e. overseas investment) in the previous year(s) as well as in the current year, shall ...

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Amendment in Negative List of Service Tax

Notification No. 20/2015-Service Tax 21/10/2015

Notification No. 20/2015-Service Tax Government exempts the services provided by a business facilitator or a business correspondent to a banking company with respect to Basic Savings Bank Deposit Accounts covered by Pradhan Mantri Jan Dhan Yojana (PMJDY) from Service Tax. ...

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Proposed GST Return – Salient Features

The Joint Committee on Business Process for #GST has submitted it’s Report on GST Return. The salient features for proposed #GSTReturn are as below: 1. There will be common E-Return for CGST, SGST, IGST and Additional Tax. 2. Every registered person is required to file a return for the prescribed tax period. A return needs […...

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Posted Under: Fema / RBI |

Increase in basic customs duty on import of wheat

Notification No. 51/2015-Customs (ADD) [G.S.R. 804(E)] 21/10/2015

Notification No. 51/2015-Customs (ADD) - seeks to further amend notification No. 12/2012-Customs dated 17.03.2012 so as to increase the basic customs duty on wheat [CTH 1001 19 00 and 1001 99 10] from the present rate of 10% to 25% for a period up to and inclusive of 31.03.2016...

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Reduction in export duty on export of Iron Ore by MMTC Limited

Notification No. 50/2015-Customs (ADD) 21/10/2015

Notification No. 50/2015-Customs (ADD) Seeks to further amend notification No. 27/2011-Customs dated 01.03.2011 so as to reduce the export duty on export of Iron Ore by MMTC Limited (only NMDC origin) to Japan and South Korea under the Long Term Agreement (LTA), from 30% to 10%, upto and inclusive of 31.03.2018. ...

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SEBI : Risk management for Regional Commodity Derivatives Exchanges

CIR/CDMRD/DRMP/2/2015 21/10/2015

Margin Collection and Enforcement: All applicable margins shall be collected by Exchanges before start of trading on the next trading day....

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ICAI Withdraws five Guidance Notes on Accounting issued by it

The Council, at its Special (347th) meeting, held on October 14, 2015, has decided to withdraw the following five Guidance Notes on Accounting as the same are no longer relevant in the present day context in view of the requirements of the Companies Act, 2013: GN(A) 3 (Issued 1982) – Guidance Note on Treatment of […]...

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Posted Under: Fema / RBI |

Anti-dumping duty on imports of Front Axle Beam and Steering Knuckles

Notification No. 49/2015-Customs (ADD) 21/10/2015

Notification No. 49/2015-Customs (ADD)- Seeks to levy definitive anti-dumping duty on imports of Front Axle Beam and Steering Knuckles for medium and heavy commercial vehicles, originating in or exported from the People's Republic of China for a period of five years. ...

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Definitive anti-dumping duty on imports of Plain medium Density Fibre Board

Notification No. 48/2015-Customs (ADD) 21/10/2015

Notification No. 48/2015-Customs (ADD) Seeks to levy definitive anti-dumping duty on imports of Plain medium Density Fibre Board of thickness 6 mm and above , originating in or exported from the People's Republic of China, Malaysia, Thailand and Sri Lanka for a period of five years ...

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Taxability of Amount received by prospective employee for loss of employment

CIT Vs Pritam Das Narang (Delhi High Court)

CIT vs. Pritam Das Narang (Delhi High Court) - Amount received by prospective employee for loss of employment offer is a capital receipt and is neither taxable as salary and nor as Income From other sources....

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