"15 March 2019" Archive

Procedure to import pets into India

(1) Customs Circular No, 15/2013 dated 8/4/2013 allows import of two pet animals (dogs and cats only) as baggage only to persons who are transferring their residence to India after two years of continuous stay abroad subject to production of required health certificate from the country of origin and examination of the pets by the [&hellip...

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Posted Under: DGFT |

FAQs on provisions regarding Imports

Q.1 What is a ‘Restricted Item?Ans. All goods, import of which is permitted only with an Authorisation / Permission / License or in accordance with the procedure prescribed in a notification / public notice are ‘Restricted’ goods....

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Posted Under: DGFT |

Reserve Bank of India (Prevention of Market Abuse) Directions, 2019

RBI/2018-19/141 FMRD.FMSD.11/11.01.012/2018-19 (15/03/2019)

These Directions shall be called the Reserve Bank of India (Prevention of Market Abuse) Directions, 2019.(2) They shall come into force on March 15, 2019.(3) These Directions shall apply to transactions of all participants in markets for financial instruments but shall exclude transactions executed through the recognized stock exchanges u...

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All about Conversion of Public Company into a Private Company

INTRODUCTION Before the notification issued by the Ministry of Corporate Affairs dated 18th December, 2018 to amend the Companies (Incorporation) Rules, 2014, NCLT was handling the cases of Conversion of Public Companies into Private Companies and it was a time consuming process under NCLT Bench. Due to plenty of Insolvency Cases, it was ...

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Posted Under: DGFT |

Comparison of Composition Schemes Under GST (From 1-4-2019 )

We  had COMPOSITION scheme for GOODS manufacturer or trader  – at 1% . Also we already had COMPOSITION scheme for RESTAURANT SERVICE supplier – at 5%. Now we have , COMPOSITION SCHEME FOR SERVICE PROVIDER   OR   GOODS + SERVICE PROVIDER –  at 6%  for First 50 lacs w.e.f. 01-04-2019. Notification No. 2/2019-Centra...

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Posted Under: DGFT |

Advance Ruling Provision Is Not In The Interest of Justice & Fair Play

Under section 95 of CGST/SGST Act and section 12 of UTGST Act, ‘Advance Ruling’ means a expert decision provided by the Authority or the Appellate Authority to an petitioner / applicant on the matters or on the questions specified in section 97(2) or 100(1) of CGST/SGST Act as the case may be, with regard to […]...

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Posted Under: DGFT |

How to obtain online import license for ‘Restricted’ items

Trade Notice No: 49/2015-2020-DGFT (15/03/2019)

Online facility for obtaining import license for ‘Restricted’ items from 18th March, 2019 (Para 2.50 of Handbook of Procedures, 2015-2020)-regd File No. 01/53/8/AM19/O-5/IC Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan, New Delhi Trade Notice No...

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New Online facility for obtaining import license for ‘Restricted’ items

Public Notice No. 79/2015-20 (15/03/2019)

Director General of Foreign Trade (DGFT) hereby notifies the revised pro-forma (ANF-2M) for submission of online application for obtaining import license for 'Restricted' items from 18th March, 2019 onwards....

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Proposed Signing of Bilateral Agreement for Exchange of CBCR between India and USA

Dear Reader, The Ministry of Finance, has issued a Press release dated 15 March, 2019 stating that a bilateral agreement has been finalized between India and the United States of America (USA) for the exchange of Country-by-Country Reports (CbCR). The proposed agreement would apply retrospectively for the exchange of CbCR from the financi...

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Posted Under: DGFT |

Refund- Enhancement on GST Portal

Refund |Enhancements on GST Portal |March 2019 While filing refund application of ITC accumulated due to Inverted Tax Structure, taxpayer can now enter his own GSTIN in the inward supply detail statement on the GST Portal...

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Posted Under: DGFT |