The Reserve Bank of India has proposed certain changes in respect of the time frame for issue of shares to align the provisions of Foreign Exchange Management Act, 1999 which requires an investee company receiving Foreign Direct Investments to issue shares within 180 days of receipt of foreign investment
Central Government (CG) has issued various Notifications under the Service tax and the Central Excise for extending the benefit of refund/rebate to the Swachh Bharat Cess (SB Cess) component and the input services used beyond factory for export. Further, the Cenvat Credit Rules, 2004 (the Credit Rules) has been amended to allow Cenvat credit on commission agent’s services and to make explicit that Cenvat credit shall not be used for payment of SB Cess.
The Budget Session of Parliament will commence on February 23 that will focus largely on the financial business of the government, which will present the general budget on February 29. The budget session of parliament will commence on February 23.
