"May, 2018" Archive

FDI and Multi Brand Retailing

Foreign Direct Investment is the most effective and efficient source of funding for Companies seeking leverage of funds from across the border. As FDI has broaden the horizons of fund raising for Companies it also involves a number of compliances with respect to Central Government, Ministry of Finance, Reserve Bank of India (RBI), Departm...

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Posted Under: Fema / RBI |

Major Drawbacks of opting for Composition Scheme under GST

The Composition Scheme under GST is extremely important for those traders who have a turnover upto Rs. 1.5 crores* annually. While it has its many advantages, there are also several drawbacks of registering under the GST Composition Scheme which have been addressed in following article:...

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Posted Under: Fema / RBI |

Are We Prepared For Expected Credit Loss Model?

Past experiences of financial crisis has revealed, the need of being proactive in reckoning the potential deterioration in the credit quality of the financial assets. Further adequate disclosures of increase in credit risk will facilitate prudent decision making and initiate needed corrective measures....

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Posted Under: Fema / RBI |

Refund of GST paid by Exporters on Inward or Outward Supplies

Exporters are entitled to obtain the refund of CGST + SGST / UTGST or IGST paid on inward supplies, when such inward supplies are used for the purpose of export of goods or services or both. Similarly, exporters are also entitled to obtain the refund on IGST paid on exports on outward supplies of goods or services or both. It is ensured i...

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Posted Under: Fema / RBI |

Un-resolved Issues of the Exporters in GST Regime

Unfortunately, exporters are receiving ends at all times irrespective of the facts which government rules the country, since the schemes and policies are made by the officials of two different ministries, which never coincides with the object of the Government. In spite of the fact that India is one of the Country who is the part of WTO A...

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Posted Under: Fema / RBI |

Renting of Truck not amounts to Supply of Tangible Goods Service

M/s Satish Kumar & Co. Vs Commissioner of Central Excise (CESTAT Mumbai)

Revenue has demanded the Service Tax on the renting of trucks under the head of Supply of Tangible Goods Service. As per the facts of the case which is not in dispute, we note that the appellant have given the trucks to the lessees on monthly rental charges. The appellant did not provide any facility such as driver, repair and maintenance...

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Govt. notifies date for e-way bill applicability in 8 States for intra-State movement of goods

Roll out of e-Way Bill system for intra-State movement of goods in Chhattisgarh, Goa, Jammu & Kashmir, Mizoram, Odisha, Punjab, Tamil Nadu and West Bengal....

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Posted Under: Fema / RBI |

Input service credit not allowable on Insurance of family members of the employees

Mercedes Benz India Pvt. Ltd. Vs Commissioner of Central Excise (CESTAT Mumbai)

The input service credit on insurance is denied on the ground that these insurance has been taken for the family members of the employees which is in nature of perquisites. I do agree with the finding of the lower appellate authority as the insurance of family members of the employees has no concern with the business of manufacturing of t...

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FORM GSTR-6 due date extended till 31.07.2018

Notification No. 25/2018-Central Tax (31/05/2018)

The last date for filing of return in FORM GSTR-6 by Input Service Distributors for the months from July, 2017 to June, 2018 is being extended till 31.07.2018. Relevant Notification is as follows:- Seeks to extend the due date for filing of FORM GSTR-6 for the months from July, 2017 till June, 2018. Government of […]...

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Flaunt Your Knowledge of Personal Finance with These Jargons

For many individuals, jargons can be difficult to grasp. And like all professions, the finance industry too has a set of jargons that are used on a daily basis. But as consumers, it is crucial for you to understand these jargons because they could help you in making important financial decisions. After all, you don’t […]...

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Posted Under: Fema / RBI |