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Archive: 04 October 2017

Posts in 04 October 2017

Procedure for export of spices to the European Union countries

October 4, 2017 3822 Views 0 comment Print

In exercise of the powers conferred by Section 3 of the Foreign Trade (Development & Regulation) Act, 1992 (No. 22 of 1992), as amended, read with Para 1.02 of the Foreign Trade Policy, 2015-20, the Central Government hereby makes the following amendment, with immediate effect, in Schedule 2 of ITC (HS) Classification of Export & Import Items relating to export of spices to the European Union countries.

Hazardous and Other Wastes in imports of used tyres- Compliance

October 4, 2017 6975 Views 0 comment Print

OFFICE OF THE COMMISSIONER OF CUSTOMS (NS-III) MUMBAI ZONE-II, JAWAHARLAL NEHRU CUSTOM HOUSE, NHAVA SHEVA, TALUKA: URAN,DISTRICT: RAIGAD, MAHARASHTRA-400707. F. No. S/22-Gen-402/2017-18 AM (I) Dated 04.10.2017 PUBLIC NOTICE NO. 126/2017 Sub: Compliance of provisions of the Hazardous and Other Wastes (Management and Trans boundary Movement) Rules, 2016 in the imports of used tyres- reg Attention […]

Procedure for clearance of Fertilizer consignments under Direct Port Delivery

October 4, 2017 2313 Views 0 comment Print

Attention of the Importers, Exporters, General Trade, Port Terminal Operator, Shipping Lines / Shipping Agents, CFSs coming under the jurisdiction of JNCH, Nhava Sheva and all other stakeholders is invited to the Public Notice No 182/2016, dated 23.12.2016, 23/2017, dated 01.03.2017, 41/2017, dated 24.03.2017, 111/2017 dated 29.08.2017 and various other decisions communicated through Standing Orders / Public Notices issued from time in relation to Direct Port Delivery.

Amendment /conversion of shipping bills from one scheme to another: Clarification

October 4, 2017 1083 Views 0 comment Print

Any request for amendment in shipping bill after LEO and before shipment of the goods shall be processed by Docks officers as per the guidelines given in Para 2 A.A and 2A.2 of the aforesaid Public Notice No. 88/2017 dated 05.07.2017.

Composition Scheme leading to double taxation / cascading of taxes: ICAI

October 4, 2017 2319 Views 0 comment Print

(i) Composition dealer can not avail the credit for the goods or services procured by him leads to cascading of taxes (ii) Additional Turnover Tax needs to be paid by composition assessee which is part of the cost of the composition supplier which is generally equivalent to the value addition for eg. if 1% is payable then value addition is charged on 10%.

Increase RCM limit to Rs. 10000 per day and defer RCM for MSE: ICAI

October 4, 2017 5496 Views 0 comment Print

(i) Reverse charge compliances U/s 9(4) be deferred for the MSE Sector having turnover of less than Rs. 2 Crore in a year / not subject to audit under U/s 35 of CGST Act, 2017 (ii) Reverse charge mechanism U/s 9(4) be liable to paid at a uniform rate say @ 18% only instead of HSN Code wise as credit of the same is available to the assessee and per day limit be enhanced to 10,000 for next one year till July, 2018.

Govt asks NGOs getting foreign funds to register with Niti Aayog

October 4, 2017 948 Views 0 comment Print

It has been decided that all the existing FCRA registered associations and those who are seeking registration/prior permission or accepting foreign contribution are required to register with DARPAN Portal with all the necessary information such as Organization PAN, email, Mobile Number & Name of Chief Functionary as mandated in the portal to generate the Unique Identification Number.

SEBI revises limit for investment by FPIs in Govt Securities for Oct to Dec 2017

October 4, 2017 429 Views 0 comment Print

It has been decided to revise the limit for investment by FPIs in Government Securities, for the October – December 2017 quarter, as follows: a. Limit for FPIs in Central Government securities shall be enhanced to INR 189,700 cr. b. Limit for Long Term FPIs (Sovereign Wealth Funds (SWFs), Multilateral Agencies, Endowment Funds, Insurance Funds, Pension Funds and Foreign Central Banks) in Central Government securities shall be revised to INR 60,300 cr.

GST impact on Job Work

October 4, 2017 14490 Views 9 comments Print

This article can clear your concept regarding Job work provisions. Job work is backbone of Indian economy, without this many of Indian business will not able to operate properly .GST on Job Work is far different from service tax and VAT earlier. In this article i tried to cover each and every aspect of Job work. read this article and comment . you can also ask your kind queries.

How to generate new E-way bill online under GST in Karnataka

October 4, 2017 64848 Views 16 comments Print

Introduction: In this article we shall be discussing about how to generate new E-way bill online under GST Welcome to new E-way BILL SYSTEM, a system for hassle free movement of goods throughout the Country with one E-way Bill. Now all the taxpayers, transporter and related stakeholders who are responsible for the movement of goods from one state to another, […]

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