"01 January 2019" Archive

GST Revenue collection for December 2018

The total gross GST revenue collected in the month of December, 2018 is Rs. 94,726 crore of which CGST is Rs. 16,442 crore, SGST is Rs. 22,459 crore, IGST is Rs. 47,936 crore (including Rs. 23,635 crore collected on imports) and Cess is Rs. 7,888 crore (including Rs. 838 crore collected on imports). The total number of GSTR 3B Returns fil...

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Export Promotion Council Established for MSME Sector 

Ministry of Micro, Small and Medium Enterprises (MSME) has recently established an Export Promotion Cell with an aim to create a sustainable ecosystem for entire MSME development.The benefits likely to accrue to the MSMEs are:...

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ICAI President's Message- January 2019

ICAI President’s Message for January 2019 covering Polling at ICAI Elections Successfully Concluded, ICAI Initiatives Acknowledged at SAFA Board Meeting, Recent Developments in GST, GST Account Assistant Scheme , ICAI Signs MoU with IIMA, Annual AOSSG Meeting in Singapore, Ireland (Dublin) Chapter to be Opened, Guidance on Resignati...

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Drawback on re-exports – GR declaration when not required

International Lease Finance Corporation Vs Union of India & Ors. (Delhi High Court)

International Lease Finance Corporation Vs Union of India & Ors. (Delhi High Court) Delhi High Court has held that non-commercial re-export of duty-paid goods would be entitled to drawback under Section 74 of the Customs Act and that requirement of Guaranteed Remittance was not necessary in a case where the exporter and owner of the [...

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Imposition of High Custom Duty on Steel and Aluminium Products

United States has imposed global tariff of 25% and 10% in March, 2018 on certain steel and aluminium products, respectively, under Section 232 of US Trade Expansion Act of 1962. India took up this issue at World Trade Organisation (WTO) as it considers these additional duties to be non-compliant with WTO provisions. ...

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Summary of Recent 31st Meeting of GST Council and Press Releases

GoM to study revenue trend 7 Member Group of Ministers to study the revenue trend, including analysing the reasons for structural patterns affecting the revenue collection in some of the States. The study would include the underlying reasons for deviation from the revenue collection targets vis a vis original assumptions discussed during ...

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100 days of Aayushman Bharat

The Aayushman Bharat Scheme, which was launched on 23rd September, 2018 has completed 100 days. These 100 days have witnessed the most significant steps in improving healthcare for the poor ever since independence....

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SEBI (Custodian of Securities) (Amendment) Regulations, 2018

Notification No. SEBI/LAD-NRO/GN/2019/01 01/01/2019

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 1st January, 2019 SECURITIES AND EXCHANGE BOARD OF INDIA (CUSTODIAN OF SECURITIES) (AMENDMENT) REGULATIONS, 2018 No. SEBI/LAD-NRO/GN/2019/01. – In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board ...

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IBBI Syllabus of Valuation Exam for Asset Class- Plant & Machinery

Syllabus of Valuation Examination for Asset Class- Plant and Machinery with effect from 1st April 2019 Insolvency and Bankruptcy Board of India No. IBBI/PR/2018/39 31st December, 2018 Press Release The Central Government notified the commencement of section 247 (relating to valuers) of the Companies Act, 2013 with effect from 18th Octob...

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GST on Business Facilitator / Correspondent to Banking Company

Circular No. 86/05/2019-GST 01/01/2019

Circular No. 86/05/2019- GST F. No. 354/428/2018-TRU Government of India Ministry of Finance Department of Revenue Tax research Unit **** Room No. 156, North Block, New Delhi, the 1st January, 2018 To, The Principal Chief Commissioners/ Chief Commissioners/ Principal Commissioners/ Commissioner of Central Tax (All) / The Principal Directo...

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