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Archive: August, 2016

Posts in August, 2016

Notification No. 41/2016-Customs (ADD) Dated: 08.08.2016

August 8, 2016 29402 Views 0 comment Print

Seeks to finalize the provisional assessments in respect of imports of PVC Flex Film, originating in or exported from China PR by M/s Haining Tianfu Warp Knitting Co. Ltd., People’s Republic of China (Producer) and M/s Manna, Korea RP (Exporter), at rate of anti-dumping duty imposed vide Notification No. 82/2011-Customs (ADD) dated 25th August, 2011 […]

Anti-dumping duty on imports of MBTS [Dibenzothiazole disulphide]

August 8, 2016 23495 Views 0 comment Print

Seeks to extend the levy of anti-dumping duty on imports of certain Rubber Chemicals, namely MBTS [Dibenzothiazole disulphide] originating in, or exported from, People’s Republic of China, (imposed vide notification No. 98/2011-Customs, dated 20th October, 2011) for a period of one year i.e. upto and inclusive of the 19th October, 2017.

Anti-dumping duty on imports of Sodium Nitrite from China

August 8, 2016 24712 Views 0 comment Print

3. Notwithstanding anything contained in paragraph 2, this notification shall remain in force up to and inclusive of the 16th day of August, 2017, unless revoked earlier.

Salient features of Merchandise Export from India Scheme (MEIS)

August 8, 2016 26548 Views 0 comment Print

The Government of India has introduced Merchandise Exports from India Scheme (MEIS) through the Foreign Trade Policy (FTP) 2015-20 w.e.f. April 1, 2015. It seeks to promote export of notified goods manufactured/ produced in India.

Torch relay starts of GST Olympic in India

August 8, 2016 26152 Views 0 comment Print

Krishna, Rio Olympic starts in Brazil. It’s the greatest festival of games. In India last week the Goods and Service Tax bill was passed at Rajya Sabha. Just like before Olympic flame, torch is burned and its relay starts and finishes at the place and date of Olympics

Corporate Social Responsibility – An Insight

August 8, 2016 27489 Views 0 comment Print

While there may be no single universally accepted definition of Corporate Social Responsibility (CSR), each definition that currently exists underpins the impact that businesses have on society at large and the societal expectations of them. Although the roots of CSR lie in philanthropic activities

GST incurred in India – The practical nature

August 8, 2016 24313 Views 0 comment Print

जी.एस.टी. संविधान संशोधन विधेयक अब राज्यसभा से भी पारित हो गया है और यह लोकसभा से पहले ही पारित हो गया था . इसके बाद इसे राज्यों की विधानसभाओं में रखा जाएगा जहाँ कम से कम आधे राज्यों में यह साधारण बहुमत से अनुमोदित होना जरुरी है इसके बाद ही यह राष्ट्रपति महोदय के पास हस्ताक्षर के लिए भेजा जाएगा और सरकार को जी.एस.टी. लगाने की शक्तियां भारतीय संविधान के द्वारा प्राप्त हो जायेगी.

IND AS 23: Borrowing Cost with regards to Forex Gain/Loss

August 8, 2016 53918 Views 4 comments Print

(i) The adjustment should be of an amount which is equivalent to the extent to which the exchange loss does not exceed the difference between the cost of borrowing in functional currency when compared to the cost of borrowing in a foreign currency.

Draft Guidance Note on Combined Financial Statements

August 8, 2016 24811 Views 0 comment Print

Consolidated Financial Statements of an entity are prepared for a group as defined in Ind AS 110, Consolidated Financial Statements. There may be some occasions where preparation of Consolidated Financial Statements would not be appropriate because of absence of control, e.g., in group loan arrangements, take-overs, demergers, spin-offs and initial public offerings, etc.

Definition of Business & Accounting for Previously held interests

August 8, 2016 23979 Views 0 comment Print

Exposure Draft issued by the International Accounting Standards Board (IASB) on Definition of a business and accounting for previously held interests (proposed amendments to IFRS 3 Business Combinations and IFRS 11 Joint Arrangements), is for comment only.

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