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GST Model law: Journey starts with a Dream towards Reality

August 13, 2016 5044 Views 1 comment Print

The GST law is still evolving and the dialogue continues between the Centre and the States on related issues. A number of procedural, legal and administrative issues relating to GST are under active discussions in various Committees / Sub-committees constituted by the EC and in various Groups constituted by the CBEC.

Choosing a Business Name….Be careful !!

August 13, 2016 5632 Views 0 comment Print

So, by just incorporating a company with no issue it doesn’t mean you have secured your brand name. So it is advisable that entrepreneurs before started brand development programme by investing huge efforts and huge amount get clearance from Registrar of Companies and also from Trade Mark Registry.

FAQs on Customs Bonded Warehouses

August 13, 2016 2647 Views 0 comment Print

Does a DFS operator need to apply for a warehouse licence? Yes. Any person who is running a Duty free Shop should apply for a licence under Section 58A.The licensed premises is to be used for storage of the bonded goods, before they are removed to a Duty Free Shop.

Maternity Benefit Amendment Bill, 2016- An Initiative by Govt!

August 13, 2016 3412 Views 1 comment Print

According to Women and Child Development Minister “Maneka Gandhi” as there are more Nuclear Families, a Mother needs to be present physically with the child for the better nutrition of the child. So, this passed amendment bill will help the Mother to take proper care of the child.

Special Advance Authorization with All Industry Rates of Duty Drawback

August 13, 2016 4879 Views 0 comment Print

To give effect to the Special Advance Authorisation Scheme, the Notification No. 45/2016-Customs dated 13th August, 2016 has been issued providing exemption to fabrics (including interlining) from import duty subject to conditions specified therein

Exemption for import of fabrics under Special Advance Authorization Scheme

August 13, 2016 6049 Views 0 comment Print

That the importer at the time of clearance of the imported fabric executes a bond with such surety or security and in such Form and for such sum as may be specified by the Deputy Commissioner of Customs or Assistant Commissioner of Customs, as the case may be, binding himself to pay on demand an amount equal to the duty leviable

Reg. mandatory warehousing requirements for EOUs, STPIs, EHTPs

August 13, 2016 1588 Views 0 comment Print

Removal of mandatory warehousing requirements for EOUs, STPIs, EHTPs etc. – Amendment in (i) paras 6.06, 6.20 and 6.40 of Hand Book of Procedures(HBP) 2015-2020; and (ii) Appendix 6E, 6G,6H, 6M,5C and ANF 6A, ANF 6B of Appendices and Aayat Niryat Forms of FTP 2015-2020 reg.

Removal of mandatory warehousing requirements for EOUs, STPIs, EHTPs

August 13, 2016 1276 Views 0 comment Print

An EOU engaged in agriculture, animal husbandry, aquaculture, floriculture, horticulture, pisciculture, viticulture, poultry or sericulture may be permitted to remove specified goods in connection with its activities for use outside the premises of the unit.

AIR of drawback for export of garments under SAAS

August 13, 2016 1450 Views 0 comment Print

(i) the heading A and heading B are heading C and heading D, respectively; and (ii) the entries in columns (4), (5), (6) and (7) against the Tariff items in the said Schedule below all Chapters, except Chapter 61 and 62, are NIL, and those in Chapters 61 and 62 are as specified in the Table annexed hereto

Recovery of Black Money-Recent major initiatives

August 12, 2016 1837 Views 0 comment Print

The Government has taken various measures to effectively deal with the issue of black money, particularly black money stashed away abroad. Such measures include policy-level initiatives, more effective enforcement action on the ground, putting in place robust legislative and administrative frameworks

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