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CCI approves acquisition of Monsanto by Bayer AG U/s. 31(7) of Competition Act, 2002

June 20, 2018 603 Views 0 comment Print

CCI approves the acquisition of Monsanto by Bayer AG under Section 31(7) of the Competition Act, 2002, subject to modifications/remedies to address the anti-competitive effects resulting from the said acquisition

Draft Amendment To Transfer Pricing Rule 10CB related to Computation of Interest Income U/s 92CE

June 20, 2018 2013 Views 0 comment Print

Amendment in Rule 10CB of Income-tax Rules, 1962 in respect of computation of interest income pursuant to secondary adjustment made under section 92CE of Income-tax Act, 1961 – Comments and suggestions

Bill discounting charges cannot be considered as Interest for TDS U/s. 194A

June 20, 2018 30699 Views 1 comment Print

Discounting charges are outside the purview of interest expenses, therefore, in our considered view, the question of making any disallowance on account of non-deduction of TDS on such discounting charges does not arise.

Draft Directions on requirement of Legal Entity Identifier Code for participation in non-derivative markets

June 20, 2018 390 Views 0 comment Print

RBI released Draft Directions on requirement of Legal Entity Identifier Code for participation in non-derivative markets. Comments on the draft directions are invited from banks, market participants and other interested parties by June 30, 2018.

Suggestions invited on draft on Cross-Border Insolvency

June 20, 2018 642 Views 0 comment Print

The Ministry of Corporate Affairs (MCA), Government of India, invites comments and views from stakeholders on introductory note and draft on Cross-Border Insolvency. The MCA is keen to introduce a globally accepted and well-recognised cross-border insolvency framework, fine-tuned to suit the needs of aspirational Indian economy. The Government has taken initiative for Cross-Border Insolvency within […]

Submission of application seeking authorization for import / export of restricted items through e-mail – reg.

June 20, 2018 2658 Views 0 comment Print

No. 01/53/162/Misc./AM-19/D-7/IC Government of India Ministry of Commerce & Industry Directorate General of Foreign Trade Udyog Bhawan, New Delhi Dated: 20th June, 2018 TRADE NOTICE (NO. 18/2018) To (i) RAs of DGFT (ii) Members of Trade Sub: Submission of application seeking authorization for import / export of restricted items through e-mail – reg. It has […]

DGFT enables exporters to file single DFIA application for exports made from any EDI port

June 20, 2018 816 Views 0 comment Print

Paragraph 4.29 (vi) and Para 4.29(vii) of Foreign Trade Policy 2015-20 is replaced enabling exporters to file single DFIA application for exports made from any EDI port and separate applications for export made from each non-EDI port.

DGFT permits Supply of essential commodities to Maldives during 2018-19

June 20, 2018 462 Views 0 comment Print

Export of Potatoes, Onions, Rice, Wheat Flour, Sugar, Dal and Eggs has been permitted to the Republic of Maldives under bilateral trade agreement between Government of India and Government of Maldives during the period 2018-19 w.e.f. April, 2018 as per the quantities indicated in the Table at Para 1 above. The export of above items to Republic of Maldives will be exempted from any existing or future restriction / prohibition on export.

GST: Supply of service to Companies cannot be regarded as Service to Govt

June 20, 2018 1257 Views 0 comment Print

Recipient of the service Odisha Knowledge Corporation Limited (OKCL) is a body corporate which cannot be regarded as Government. Therefore, the activities of the applicant by way of supply, of goods and services under the ICT project are not covered under Entry 72 of the notification no.12/2017 dated 28.06.2017, to be entitled to the benefit of exemption from GST.

HC allows manual filing of GST TRAN-1 as electronic system not responded

June 20, 2018 1821 Views 1 comment Print

The petitioner has alleged in the petition that despite making several efforts on the last date for filing of the application, the electronic system of the respondent no.2 did not respond, as a result of which the petitioner is likely to suffer loss of the credit that it is entitled to by passage of time.

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