"20 January 2017" Archive

Revised ITC(HS) code 2017 for all export import related transactions

In exercise of powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (as amended from time to time) read with paragraph 2.01 of the Foreign Trade Policy, 2015-2020, the Central Government hereby notifies Indian Trade Classification (Harmonised System) of Import Items, 2017...

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Posted Under: DGFT |

Fair and transparent access to data feeds of stock exchanges

SEBI/H0/MRD/DP/CIR/P/2017/08 (20/01/2017)

Stock exchanges shall formulate a comprehensive policy document for providing stock market related data to the market participants in a fair and transparent manner, irrespective of the type of mechanism used by the stock exchanges for broadcasting of data....

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Criteria for re-introduction of derivative contracts on Commodities

Circular No. SEBI/HO/CDMRD/DMP/CIR/P/2017/6 (20/01/2017)

The nature/properties of one commodity differs from another, thereby not all commodities may be suitable for the commodity derivatives trading. It is prudent that before allowing any derivatives contract on any commodity, the appropriateness / usefulness of commencing futures trading in products (not necessarily of just commodities), need...

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Notification No. 1/2017-Customs Dated: 20.01.2017

Notification No. 1/2017-Customs (20/01/2017)

Importer (hereinafter referred to as the Infrastructure Service Provider or the ISP) shall produce a certificate to the Assistant Commissioner or the Deputy Commissioner of Customs from the concerned Director of the Software Technology Parks Society set up by the Government of India, Department of Electronics...

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Explanatory Notes to Provisions of Finance Act, 2016

Circular No. 03/2017-Income Tax (20/01/2017)

Circular explain all the changes in Income Tax Act, 1961 carried out by Finance Act 2016 which are applicable for Financial Year 2016-17....

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Income Tax Scrutiny after digitization

The case is selected for scrutiny by CASS (Computer Aided Scrutiny Selection) for the Assessment Year 2017-18 and the officer sends notice of hearing to the Assessee to attend the office on a particular day with supporting documents such as Books of Account, vouchers, Bank Pass Books etc....

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Posted Under: DGFT |

‘Supply’ Under The Revised Model GST Law

In the GST Law, the taxable event would be SUPPLY. Under the existing laws there were multiple taxable events, i.e. manufacturing, provision of services, sales, etc. Under the GST law a single taxable event ‘supply’ will replace the multiple taxable events. ...

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Posted Under: DGFT |

Nomination of Shares and Rights of Nominees

Companies Act, 2013 allows a shareholder to make nomination with regard to shares held by him in a company. A nomination is a written mandate given by a shareholder to a company describing a particular person, to whom the shares held in the company shall vest in the event of death of the shareholder. ...

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Posted Under: DGFT |

Action Points before GST implementation

GST would become a reality and the nation could witness changes in the traditional ways of doing business. Businesses right now have the option to proactively embrace this reform, understand its intricacies and take a business advantage out of this change by acting immediately....

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Posted Under: DGFT |

Taxable event under GST- Supply and its scope

Taxable event is very important matter in every tax law. Its determination is most crucial for proper implementation of any tax law. Taxable event is that on happening of which charge is fixed. ...

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Posted Under: DGFT |
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