Making out a strong case for slashing of corporate tax to 25 per cent, the ASSOCHAM President Mr Sandeep Jajodia said in his presentation before Finance Minister Mr Arun Jaitley tax exemption limits for senior citizens and salaried employees should be also raised substantially for a demand push to the economy.
While restoring the benefits under the export promotion schemes of duty free imports under Advanced Authorization, Export Promotion Capital Goods and 100% Export Oriented Units and thus resolving the problem of blocked working capital for exporters following the roll out of GST, the FTP review has focused on increasing the incentives for labour intensive MSME sectors.
Where assessee could not furnish any explanation regarding source of receipt of money, except saying that it was loan borrowed from parties, the addition made by the AO under section 69 was justified.
Provisions of RERA are prospective in nature. The penalty under Sections 18, 38, 59, 60, 61, 63 and 64 is to be levied on account of contravention of provisions of RERA, prospectively and not retrospectively. These provisions, therefore, cannot be said to be violative of Articles 14, 19(1)(g), 20(1) and 300-A of the Constitution of India.
Import of pepper classified under EXIM Code 090411 and 0904 1200 is subject to Minimum Import Price (MIP) of Rs 500 on CIF basis per kg.
RBI has decided to rationalize the MDR for debit cards based on the following criteria: a. Categorization of merchants on the basis of turnover. b. Adoption of a differentiated MDR for QR-code based transactions. c. Specifying a ceiling on the maximum permissible MDR for both ‘card present’ and ‘card not present’ transactions.
DGFT hereby notifies new Appendices 5 E (Computation of Annual Average Export Obligation under EPCG Scheme) and 5 F (List of Capital Goods not permitted/ permitted subject to specific conditions for import under EPCG Scheme) of FTP 2015-20, as contained in Annexure to this Public Notice.
Take all measures to step up collections from arrear and current Recovery surveys should be carried out in a large number of suitable cases after due diligence. The powers of attachment and sale of moveable property should be invoked to effect recoveries where regular measures to recover the demand have not been successful.
The services export rendered between 1-4-2017 to 31-03-2018 as per the Annexure, comprising rates and conditions for rewards under the Services Exports from India Scheme (SEIS) is extended upto 31.03.2018 with rates of reward as specified in the Annexure.
Director General of Foreign Trade hereby notifies the revised edition of Handbook of Procedures, as contained in Annexure to this Public Notice. This shall come into force with effect from 5th December, 2017.
