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Archive: 01 August 2017

Posts in 01 August 2017

Action against Exclusively Listed Companies and its Promoters/Directors pending Exit Offer to Shareholders

August 1, 2017 4470 Views 0 comment Print

In order to ensure that exit option is provided to the public shareholders of ELCs that are non-compliant with the provisions of the said circular dated October 10, 2016 and have not submitted plan of action to the DSEs and in order to protect the interest of investors in ELCs on DB it is hereby directed that, to begin with:-

Procedure for drawing of samples of Zink Ash/ Skimming in powder & lump form (metallic portion) classifiable under tariff heading 2620-reg

August 1, 2017 1014 Views 0 comment Print

Recently, instances have been noticed wherein samples of Zinc ash/ skimming received by DYCC Lab, JNCH, Nhava Sheva are often in powder form without containing any material in lump form which results in showing lower metallic Zinc content and other restrictive pollutants such as Lead, Cadmium etc. when analyzed by the DYCC.

List of 26 type of Cesses Abolished Since 2015

August 1, 2017 3870 Views 0 comment Print

List of Cesses Abolished Since 2015 GST on Transportation Services in India S. No. Name of the Cess Date of Abolition 1. Education Cess on taxable services 01.06.2015 2. Secondary & Higher Education Cess on taxable services 01.06.2015 3. Education Cess on excisable goods Exempted with effect from 01.03.2015.Abolished with effect from 01.07.2017 by the […]

ICAI President’s Message – August 2017

August 1, 2017 1338 Views 0 comment Print

Barring all apprehensions, the GST roll out finally saw the light of the day on 1st July 2017 paving the way towards the goal of One Nation-One Tax-One Market.

Import of Service when will be out of GST

August 1, 2017 6876 Views 1 comment Print

In this article, we will analyse a scenario where import of service will remain out of the purview of IGST. Facts: An Indian construction company, X & Co having principal place of business in Mumbai and registered under GST has got a contract from the Govt of Maldives for construction of residential complex at Maldives.

Amendment in Import Policy of Cigarettes or other Tobacco products

August 1, 2017 972 Views 0 comment Print

Para 13 of the General Notes Regarding Import Policy of ITC (HS), 2017 – Schedule –1 (Import Policy), has been amended in consonance with Cigarettes and other Tobacco Products (Packaging and Labeling) Amendment Rules, 2017.

Govt prohibits Import of Red Sanders (Pterocarpus Santalinus)

August 1, 2017 915 Views 0 comment Print

Import of Red Sanders (Pterocarpus santalinus) is Prohibited by amending the import Policy Condition of items under Exim Code 4403 9918 under Chapter 44 of ITC (HS), 2017 – Schedule –1 (Import Policy)

Import of Services under GST Regime

August 1, 2017 23772 Views 0 comment Print

As per the provisions in schedule I of CGST Act, 2017, the import of services by a taxable person from a related person or from a distinct person as defined in Section 25 of the CGST Act, 2017, in the course or furtherance of business shall be treated as supply even if it is made without any consideration.

Leviability of IGST on High Sea Sales of imported goods and point of collection

August 1, 2017 29709 Views 1 comment Print

‘High Sea Sales’ is a common trade practice whereby the original importer sells the goods to a third person before the goods are entered for customs clearance. After the High sea sale of the goods, the Customs declarations i.e. Bill of Entry etc is filed by the person who buys the goods from the original importer during the said sale

रेरा ने बिल्डर्स को घेरा

August 1, 2017 4272 Views 1 comment Print

भारत सरकार ने रियल एस्टेट (रेग्युलेशन एंड डेवेलपमेंट) एक्ट 2016 को अधिनियमित किया है और अधिनियम के सभी वर्ग 1 मई 2017 से लागू होंगे। इस अधिनियम के तहत, महाराष्ट्र सरकार ने महाराष्ट्र रियल एस्टेट रेगुलेटरी अथॉरिटी (महारेरा), 8 मार्च 2017 के अधिसूचना सं 23 के माध्यम से महाराष्ट्र राज्य में रियल एस्टेट सेक्टर के विनियमन और प्रोत्साहन के लिए स्थापित किया है.

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