Exporters are witnessing sea changes as regards export rules under the existing GST regime as compared to the earlier regime of indirect taxation in India. Particularly the traders and the provider of export services are facing difficulties in filing bonds and Letter of undertaking before making exports. Even the general meaning of exports have changed now as supplies made to SEZ developer or SEZ unit are now treated as export transactions even if they are made intra-state, also sales to export houses and penultimate exports are no longer covered under the definition of export now. Exports which were earlier made without payment of taxes are now made subject to payment of taxes or filing of some special documents in lieu of taxes paid on exports. In our previous article on “Place of Supply under GST”, we covered the nature of supplies to be treated as exports/import of goods or services under GST, so we are not discussing these provisions here. Rather, in this article we will now discuss benefits, procedures and other provisions related to export and import of goods and services under GST in India.
The government would introduce a scheme to provide a subsidy for advancing the development of industries mainly in backwards areas. The assistance was provided primarily for recouping the assessee on the expenditure incurred for the establishment of the industry.
Article explains Indirect Taxes Updates on GST, Customs, Excise, Service Tax & VAT for the Month – July 2017 (as updated upto 05th August 2017)
It’s a fact of life that, if you don’t follow this simple and very obvious money management code, you will never ever become rich. Don’t let the negligence to follow this, keep you from becoming rich. To become profitable and stay profitable, the bigger organizations always look at cost cutting methods. They cut a part […]
Mental Accounting is one such money mistake even smart people are committing. Understanding this mistake and avoiding this could make us richer. Behavioral Finance experts say that mental accounting works this way: Let us say you have bought a Rs.200 ticket to a movie. When you show up at the entrance of the theater and […]
Job work services in respect of the textiles and textile products (including MMF yarn, garments, made-ups, etc. falling in Chapters 50 to 63). Services by way of printing of newspapers, books (including Braille books), journals and periodicals where only content is supplied by the publisher and the physical inputs including paper used for printing belongs to the printer
it proposed in the bill that the Company can file such form subject to additional fees of Rs. 100/- per day”. Here the questions are; If a Company has not filed Annual forms for the f.y. 2014-15 , 2015-16 or any previous financial year then whether fees shall be applicable as Rs. 100 per day or 2 times, 4 times as per Companies Act, 2013?
(1) This Act may be called the Collection of Statistics (Amendment) Act, 2017. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.
Import policy of Pigeon Peas (Cajanus cajan)/Toor Dal under EXIM Codes: 0713 60 00, 0713 90 10 and 0713 90 90 is revised from ‘free’ to ‘restricted’.
An Act to establish and declare the Footwear Design and Development Institute as an institution of national importance for the promotion and development of quality and excellence in education, research and training in all disciplines relating to footwear and leather products design and development and for matters connected therewith or incidental thereto.
