"12 December 2018" Archive

Revision of AIR of Duty Drawback wef 19.12.2018- Things to know

Circular No. 52/2018-Customs (12/12/2018)

For claiming these AIRs, the relevant tariff item have to be suffixed with suffix ‘B’ e.g. for export of goods covered under tariff item (TI) 640609, the drawback serial no. should be declared as 640609B. Alternative AIRs specified on garments exports made against the Special Advance Authorization (para 4.04A of Foreign Trade Policy 2...

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Creation of Segregated Portfolio by Mutual Funds

PR No. 51/2018 (12/12/2018)

Securities and Exchange Board of India SEBI Board Meeting PR No. 51/2018 The SEBI Board met in Mumbai today and took the following decisions: I. Creation of Segregated Portfolio by Mutual Funds The Board noted the proposal to allow Mutual Funds to create Segregated Portfolios with respect to debt and money market instruments subject to [&...

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Procedure for re-export/return of imported SCOMET item(s)

Public Notice No. 59/2015-20 (12/12/2018)

Paragraph 2.79 E has been inserted in the Handbook of Procedures of FTP 2015- 2020 to lay down the procedure for re-export/return of imported SCOMET item(s) due to reasons of obsolescence of technology of imported item(s); cancellation of order by the Indian buyer/end user; dead on arrival, etc....

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Reg. Temporary Import / export of exhibits, including construction & decorative materials

Public Notice No. 58/(2015-2020)-DGFT (12/12/2018)

Import / export of exhibits, including the construction and decorative materials, except items in the 'Prohibited' or SCOMET List, required for the temporary stands of foreign / Indian exhibitors at exhibitions, fair or similar show or display for a period of six months on re-export / re-import basis, shall be allowed without an Authorisa...

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Appointment of Shri Shaktikanta Das as Governor, RBI

Notification No. S.O. 6142(E) (12/12/2018)

Central Government appointed Shri Shaktikanta Das, IAS Retd. (TN:80), former Secretary, Department of Economic Affairs, as Governor, Reserve Bank of India (RBI), for a period of three years....

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Whose name IEC can be issued and address proof required for IEC application

Trade Notice No. 39/2018-19-DGFT (12/12/2018)

IEC is to be issued in the name of the firm. So application has to be made in the name of a firm. The firm may be a proprietorship/ partnership/ LLP firm/ HUF firm / an individual or a company (that includes Government Undertaking/ Public or Private Limited company/ Section 25 company/One Director Company/ Registered Society/ Trust)....

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Benami Transactions Act [including Amendment, 2016] – Complete Overview

Recently, Govt. has introduced a law which has given a sudden jolt to the real estate sector. But the fact is, it is not only the real estate sector which would be affected by this law but it would have an impact on all types of properties be it movable or immovable. This law is […]...

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Posted Under: Custom Duty |

TDS – Quick and Complete Summary [Part-II]

In the last part of this summary, we have learned about the basic meaning of TDS, some concepts which were very useful and commonly applied on all sections, and the various sections under which the TDS is being deducted. Read- TDS – Quick and Complete Summary [Part-I] Now, In the Part-II, we will get the […]...

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Posted Under: Custom Duty |