"January, 2019" Archive - Page 2

Relief in average export obligation in terms of Para 5.19 of HBPs

Policy Circular No. 18/2015-2020-DGFT 31/01/2019

The Regional Authorities, while considering requests of discharge of Export Obligation, will ensure that in case of shortfall in Export Obligation fulfillment, the Policy Circulars earlier issued in terms of Para 5.11.2 of HI3P 2009-14 and Para 5.19 of Hand Book of Procedure of FTP 2015-20 are also considered before issuance of the demand...

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Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Amendment) Regulations, 2019

Notification No. FEMA. 20(R) (6)/2019-RB 31/01/2019

These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Fifth Amendment) Regulations, 2019....

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Major GST Amendments applicable w.e.f. 01-02-2019

1. Upper limit of turnover for opting of composition scheme shall be raised from Rs. 1 Cr to Rs. 1.5 Cr. 2. A Composite dealer (in goods) shall be allowed to supply services (other than restaurant services), for a value not exceeding - ...

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Posted Under: DGFT |

AAR cannot decide on place of supply

In re Tech Mech Global Interface Pvt. Ltd. (GST AAR Andhra Pradesh)

Applicant, sought Advance Ruling in Place of Supply issue, which is outside the purview of the Advance Ruling Authority as per Section 97(2) of CGST Act, 2017 Hence the application is not admitted under Sec 98 (2) of CGST Act, 2017 and APGST Act, 2017....

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Labelling/ fixing RSP allowed for statutory compliance in Customs Bonded Warehouse

Circular No. 03/2019-Customs 31/01/2019

CBIC has decided to allow labelling/ fixing RSP etc. to fulfil statutory compliance requirements in all Customs Bonded Warehouse without the requirement of taking permission under Section 65 of the Customs Act....

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Form GSTR 7 Due Date extended to 28th February 2019

Notification No. 07/2019–Central Tax [G.S.R. 79(E)] 31/01/2019

Due date for furnishing of FORM GSTR – 7- TDS Return for the months of October, 2018 to December, 2018 Further extended till 28.02.2019. Form GSTR 7 (TDS Return Filing Under GST) Due Date extended to 28th February 2019 from earlier due date of 31st day of January, 2019 MINISTRY OF FINANCE (Department of Revenue) […]...

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GST: Patanjali dealer found guilty of violating Anti profiteering Law

Director General Anti-Profiteering Vs M/s Satya Enterprises (National Anti-Profiteering Authority)

Director General Anti-Profiteering Vs M/s Satya Enterprises (National Anti-Profiteering Authority) 1. The brief facts of the present case are that a reference was made by this Authority to the Director General Anti-Profiteering (DGAP), erstwhile Director General Safeguards, under rule 128 of the Central Goods and Services Tax (CGST) Rules...

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Notification No. 07/2019-Customs (N.T.) Dated 31st January 2019

Notification No. 07/2019-Custom (N.T.) 31/01/2019

Tariff Notification No. 07/2019-CUSTOMS (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver- Reg Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 07/2019-CUSTOMS (N.T.) New Delhi, 31st January, 2019...

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Review of SEZ policy & Recommendation on SEZ policy

Revitalising SEZs: From islands of exports to catalysts of economic and employment growth Proposed policy framework for employment and economic enclaves (3Es) in India The MOCI and Industry, Government of India, constituted a Committee headed by Mr. Baba Kalyani, Chairman and MD, Bharat Forge Ltd, to study the existing SEZ policy of India...

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Posted Under: DGFT |

Bank of India, Bank of Maharashtra & OBC taken out of PCA framework

Press Release: 2018-2019/1807 31/01/2019

RESERVE BANK OF INDIA Date : Jan 31, 2019 Prompt Corrective Action Framework On a review of the performance of Public Sector Banks (PSBs) currently under the Prompt Corrective Action Framework (PCAF), it was noted that a few banks are not in breach of the PCA parameters as per their published results for the quarter […]...

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