In this article, i have explained important event based FEMA Compliances under FDI Norms by the Indian entities. All the reporting under FEMA Act, 1999 except specifically stated otherwise, is required to be done through the Single Master Form (SMF) available on the FIRMS platform at https://firms.rbi.org.in. For the purpose of reporting in the SMF, […]
t is the case of the petitioner that as per the business model operated by it in the State of Kerala, it places its diagnostic instruments at the premises of unrelated hospitals, laboratories etc. for their use for a specified period without any consideration –
Considering the findings of the Apex Court in Commissioner of Central Excise, Bolpur v. Ratan Melting and Wire Industries it is clear that Circulars cannot prevail over the statute. Circulars are issued only to clarify the statutory provision and it cannot alter or prevail over the statutory provision. In such circumstances, it is clear that the explanation of provisions of drawback has nothing to do with the IGST refund.
Every economy grows by the business, infrastructure and other systems. Depending upon the cultural, political and sub sets, there are different kinds of entities under which a business is run and regulated. In India, there are number of ways for setting up and running business depending upon pros and cons of each type. Let us […]
