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Archive: 06 April 2018

Posts in 06 April 2018

Modification in guidelines for stand-alone plain vanilla forex options

April 6, 2018 783 Views 0 comment Print

It has now been decided that stand-alone plain vanilla forex options (without attached structures) purchased by clients will be exempt from the ‘user suitability and appropriateness’ norms, and the regulatory requirements will be at par with forex forward contracts.

Revision in Limit for FPI Investment in Govt Securities WEF 01.04.2018

April 6, 2018 702 Views 0 comment Print

(a) The limit for FPI investment in Central Government securities (G-secs) would be increased by 0.5% each year to 5.5% of outstanding stock of securities in 2018- 19 and 6% of outstanding stock of securities in 2019-20.

Lead Bank Scheme: Action Points for SLBC Convenor/ Lead Banks

April 6, 2018 978 Views 0 comment Print

State Level Bankers’ Committee (SLBC) meetings should primarily focus on policy issues with participation of only the senior functionaries of the banks/ Government Departments. All routine issues may be delegated to sub-committee(s) of the SLBC. A Steering Sub-committee may be constituted in the SLBC to deliberate on agenda proposals from different stakeholders and finalise a compact agenda for the SLBC meetings.

Goct rescinds two excise notifications dated 06.04.2018

April 6, 2018 831 Views 0 comment Print

Seeks to rescind notification nos. 7/2018-Central excise and 8/2018-Central excise, both dated 2nd February 2018 all dated 06.04.2018

Govt amends 5 Excise Notifications dated 2nd February 2018

April 6, 2018 900 Views 0 comment Print

Seeks to amend notification Nos. 11/2017-Central excise dated 30th June, 2017, 10/2018-Central excise 11/2018-Central excise, 12/2018-Central excise and 13/2018-Central excise, all dated 2nd February 2018

Simple steps to change/edit Email and Mobile Number of Authorized Signatory in GST Portal (For proprietorship)

April 6, 2018 10386 Views 1 comment Print

Simple steps to change/edit Email and Mobile Number of Authorized Signatory in GST Portal (For proprietorship): Step 1 Login to GST portal i.e. with your existing user id and password. Step 2 Click on the registration Tab and select the Application for Amendment of Non-Core fields in Registration Particulars (For all types of registered persons). […]

Important Aspects of a One Person Company

April 6, 2018 4047 Views 0 comment Print

Introduction The concept of One Person Company in India was introduced through the Companies Act, 2013 to support entrepreneurs to start a venture on their own by allowing them to create a single person economic entity. In a One Person Company there can be only one member while a minimum of two members are required […]

Rule 12 of Income Tax Rules wef 1st April 2018 related to ITR

April 6, 2018 61791 Views 3 comments Print

Understanding Rule 12 of Income Tax Rules wef 1st April 2018 related to ITR. Stay updated with the recent amendments in tax regulations.

Complete Provisions and Procedures of E-Way Bill- Under GST

April 6, 2018 44448 Views 4 comments Print

Ramesh Chandra Jena In the pre-GST era, there was no concept of electronic way bill. A manual form of way bill was used under earlier VAT laws in most of the States. An electronic way bill is a physical transport document for transport of goods, which is incorporated under GST laws require for movement of […]

Taxability of FOC Supplies made by recipient of service to service provider

April 6, 2018 4482 Views 0 comment Print

On issue of Service Tax applicability on free of cost (FOC) supplies by the service recipient of construction service to the service provider (assessee), we are sharing with you a landmark judgement of the Hon’ble Supreme Court, decided in favour of the assessee, in the case of Commissioner of Service Tax Vs. M/s Bhayana Builders (P) Ltd.

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April 2018