Non-Resident Indians (NRIs) can invest in India as per the following regulation of Foreign Exchange Management (Transfer or issue of Security by a person resident outside India) Regulations, 2000 dated May 3, 2000 as amended from time to time: i. As per Regulations 5(1), NRIs may invest in shares/Compulsorily Convertible Preference Shares (CCPS)/ Compulsorily Convertible […]
It appears that BGs are not being properly monitored by the Regional Authorities of DGFT. Foreign Trade Policy and the Foreign Trade Procedures (Vol.I) provide for furnishing of BG.
EOUs are allowed duty free import of goods under notification No.52/2003- Custom, dated 3 1-3-2003. However, in view of GST, the said notification has been consequently amended by notification No. 59/2017- Customs dated 30-6-2017.
It has been decided by the Board to extend online referral of WCCB to all Customs EDI locations with effect from 31st July, 2017. The mapping of Customs EDI locations to WCCB offices will remain the same as it was for imports.
A moot question is whether a Tax Payer is allowed to make fresh claims beyond the due date of revising the return of income? Various judicial precedents have held that the Appellate Authorities as well as Assessing authorities have the jurisdiction to exercise their discretion whether or not to permit such additional claims raised for the first time. The same are listed hereunder:
Capital reduction is a commonly adopted tool by companies for re-engineering their capital structure. The need for reducing share capital may arise owing to a number of reasons, such as returning excess funds to the shareholders, adjustment of accumulated losses, minority squeeze out, improving EPS, producing a more efficient capital structure, etc. In this article we have analysed the importance to understand the key tax aspects related to capital reduction.
I do hereby extend the last date of filing of online/hard copy of first quarter return for the year 2017-18, in Form DVAT16, DVAT-17 and DVAT-48 along with required annexure/enclosures up to 17/08/2017,
The ITAT noted that document was silent as to payer and payee of amount in question nor does it disclose that payment was made by cheque or cash nor it is proved that document is in handwriting of assessee or at least bears his signatures.
The learned Counsel for the appellant submits that the tax effect involved in the present appeal is less than Rs.20 lakhs and as per the CBDT Circular No.21 of 2015 dated 10th December, 2015, the department has taken a policy decision not to prosecute the appeals wherein the tax effect is less than Rs.20 lakhs.
Seeks to amend Notification No. 96/2008-Customs dated 13th August 2008 to insert S. No. 35-Republic of Niger and S. No. 36 -Republic of Guinea in the Schedule to the notification. MINISTRY OF FINANCE (Department of Revenue) Notification No. 68/2017-Customs New Delhi, the 27th July, 2017 G.S.R. 962(E).—In exercise of the powers conferred by sub-section (1) […]
