In the ROSL scheme, the Central Govt. provides rebate of State levies comprising of State VAT/CST on inputs including packaging, fuel, duty on electricity generation and duties and charges on purchase of grid power, as accumulated through the stages of production from yarn to finished garments.
Introduction: Section 8 Company is a Company licensed by Central Government under Section 8 of the Companies Act, 2013. Therefore, Section 8 Company is a company registered for charitable or not-for-profit purposes. Section 8 Company is similar to a Trust or Society; exception is that a Section 8 Company is registered under the Central Government.
As time has passed, humans have evolved. They have found better and efficient ways of doing the same thing over a period of time, be it hunting, commuting, travelling or working. The credit of the evolution does not only go to great thinkers, physicists, scientists, management gurus, but also to any common person who wants to do things in a better way, gain efficiency, save resources, etc. How could accountants have been left behind?
In India, Many rivers are perennial and some get water during the monsoons. The Idea of nationalisation of rivers was mooted by many patriots long back, but the governments so far lacked the political will and foresight for the welfare of the citizens. They could nationalise the banks but not the rivers.
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby makes the following amendments in the Notification of the Central Board of Excise and Customs No.121/2016-CUSTOMS (N.T.), dated 15th September, 2016, with effect from 23rd September, 2016, namely:-
The Policy Circular No. 16 (RE-2012/2009-14) dated 15.3.2013 also while specifying the categories where ab-initio exemption is there, specified that no refund of TED should be provided by RAs of DGFT/Office of Development Commissioners, because such supplies are ab-initio exempted from payment of excise duty.
With a view to have similar administrative arrangements for facilitation of trade in the Land Customs Stations, CCFCs shall be set up in the following Commissionerates having jurisdiction over the various Land Customs Stations,-
Merchandise Exports from India Scheme (MEIS)- Additions/amendments in Table 2 [containing ITC (HS) code wise list of products with reward rates] of Appendix 3B. A-Additions in Table-The following 2901 lines are added to the MEIS Schedule with immediate effect:
Principal Commissioners or Commissioners are advised to take a lenient view on receipt of a valid application under section 273A of the Act in respect of an issue for the said assessment year which is identical to the issue on which a valid declaration has been made under the Income Deceleration Scheme 2016 for other assessment year(s) subject to payment of the entire amount payable under the Scheme.
The FAQ compilation covers broadly 24 topics with Chapters on Registration, Valuation, Input Tax Credit, Assessment, Audit, Refund, Demand and Recovery, Appeals, Advance Ruling, Offence and Penalties etc.
