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Archive: 26 May 2017

Posts in 26 May 2017

Builder & Developer Composition Scheme 1% on Advance payment

May 26, 2017 10422 Views 0 comment Print

A registered dealer who under takes the construction of flats, dwelling or building or premises and agrees to transfer them in pursuance of an agreement or otherwise, along with land or interest underlying the land and where the aforesaid agreement,

Reg. Legislative changes relating to Customs proposed in Finance Bill, 2017

May 26, 2017 4242 Views 0 comment Print

Attention of the Importers, Exporters, General Trade, CFSs coming under the jurisdiction of JNCH, Nhava Sheva and all other stakeholders is invited to clarification regarding legislative changes relating to Customs Act, 1962 proposed in the Finance Bill, 2017 issued vide Board Circular No 12/2017-Customs (F.No.450/10/2017-CusIV], dated 31.03.2017.

Listing of NCRPS / NCDs through a Scheme of Arrangement

May 26, 2017 1422 Views 0 comment Print

SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (hereinafter referred to as “listing regulations”) place obligations with respect to Scheme of Arrangement on Listed Entities and Stock Exchange(s) in Regulation 11, 37 and 94.

Exemption to NGOs to file missing Annual Returns till 14th June

May 26, 2017 819 Views 0 comment Print

This exemption is one time measure and available to those associations who upload their missing Annual Returns from FY 2010-11 to FY 2014-15 within this period. The renewal of registration under FCRA cannot be granted unless the Annual Returns are uploaded by the organization.

Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Third Amendment) Regulations, 2017

May 26, 2017 780 Views 0 comment Print

1. These regulations may be called the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Third Amendment) Regulations, 2017. 2. They shall come into force on the date of their publication in the Official Gazette.

Clearance of consignments with packing material / pallets at various CFSs of JNCH

May 26, 2017 1443 Views 0 comment Print

It has been represented by Trade that they are facing difficulty to clear the consignments along with the packing material such as pallets at various CFSs within the jurisdiction of JNCH as they are required to obtain permission to take such deliveries which results in higher dwell time for clearance as well as increase in the transaction cost by payment of higher detention and demurrage charges. It has been represented that:

Launch of Income Tax Business Application (ITBA)- Prosecution Module (Phase 2)- Reg.

May 26, 2017 6627 Views 0 comment Print

This is in reference to the subject mentioned above. Phase 1 of the Prosecution Module of ITBA was rolled out on 03.03/017 in which facility to initiate prosecution proposal. issue authorization u/s 279(1) and recording Court proceedings was provided. The functionality for Compounding Proceedings and Grant/ Withdraw Immunity has now been rolled out in Phase 2 with effect from 23.05.2017.

5 Most Significant Benefits of GST for SMEs

May 26, 2017 28128 Views 9 comments Print

With all Central legislations in place and only State level ratifications pending, the stage is set for GST implementation. The 1 July 2017 target also seems realistic given that the major hurdles have been crossed.

Impact of GST on marketing strategy

May 26, 2017 7386 Views 3 comments Print

Free supplies would be liable to excise duty, while under the VAT laws, free supplies would require reversal of input tax credit; Under the GST law, the treatment would be similar to the present VAT laws, where the supplies are made without any consideration (monetary/ otherwise).

Independent Directors – Big Role to Play “Better Late than Never”

May 26, 2017 2670 Views 0 comment Print

Independent Directors- Who are they, Laws governing them, Position hold, Strength, Qualification, Appointment procedure, Pecuniary benefits, Tenure, Resignation or removal, Data bank, Liability and Special code under Companies Act, 2013”

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