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Archive: 03 October 2018

Posts in 03 October 2018

Fan Coil Unit classifiable under Heading No. 8415 as its basic function is air conditioning of a place

October 3, 2018 6147 Views 0 comment Print

In re Bhutoria Refrigeration Private Limited (GST AAR Maharashtra) Question 1:- Whether the Fan Coil Unit is covered under HSN Code 8418 under Goods and Service Tax Act, 2017. Fan Coil Unit (FCU) is a simple device consisting of a heating and or cooling heat exchanger or ‘Coil’ and fan. It is a part of […]

SEBI (Appointment of Administrator and Procedure for Refunding to the Investors) Regulations, 2018

October 3, 2018 4161 Views 0 comment Print

These regulations may be called the Securities and Exchange Board of India (Appointment of Administrator and Procedure for Refunding to the Investors) Regulations, 2018. (2) They shall come into force on the date of their notification in the Official Gazette.

SEBI (Depositories and Participants) Regulations, 2018

October 3, 2018 16647 Views 0 comment Print

1. (1) These regulations may be called the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018. (2) They shall come into force on the date of their publication in the Official Gazette.

Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018

October 3, 2018 6054 Views 0 comment Print

These regulations may be called the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018.

Extension of time till 30.04.2018 for Export of Red Sanders wood

October 3, 2018 294 Views 0 comment Print

Time upto 30.04.2019 has been allowed to Directorate of Revenue Intelligence (DRI) and the State Governments of Maharashtra and Tamil Nadu to finalize the modalities and complete the process of export of respective allocated quantities of Red Sanders wood.

DGFT revises Import policy of 34 items from ‘Restricted’ to ‘Free’

October 3, 2018 1683 Views 0 comment Print

The import policy of above mentioned 34 items has been revised from ‘Restricted’ to ‘Free’ subject to No Objection Certificate (NOC) from Narcotics Commissioner. Gwalior, before import of the item

ECB Policy Liberalised for public sector Oil Marketing Companies

October 3, 2018 339 Views 0 comment Print

It has been decided, in consultation with the Government of India, to liberalise ECB Policy and permit public sector Oil Marketing Companies (OMCs) to raise ECB for working capital purposes with minimum average maturity period of 3/5 years from all recognized lenders under the automatic route.

Write Off- No Loan Waiver

October 3, 2018 2973 Views 0 comment Print

An article has been reported in news media regarding write-off of loans by Public Sector Banks (PSBs). Technical write-offs are resorted by banks as per Reserve Bank of India (RBI) guidelines. However, this does not lead to any loan waiver. Recovery of loans continues rigorously by Banks. In fact the defaulting management of most Insolvent companies has been removed under the IBC.

No TDS u/s. 194G on Sale of Lottery Ticket by Agent to Sub-Agent

October 3, 2018 3717 Views 0 comment Print

ACIT Vs Smt. Biji Suresh (ITAT Cochin) The provisions contained in section 194G of the Act provides for deduction of TDS by any person who is responsible for paying to any person, who is stocking, distributing, purchasing or selling lottery tickets, any income by way of commission, remuneration or prize on such tickets, at the […]

GST Practitioner – All you need to Know

October 3, 2018 92481 Views 51 comments Print

GST support provided to clients at this critical moment is undoubtedly most venerated job. It is an indispensable and certainly value addition to the clients. Followed by fear and worries due to lack of knowledge about GST, its implementation seems to be a nightmare haunting everyone especially on MSME business.

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