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Anti-dumping duty on Soluble Salt Double Charge, GVT & PGVT, Porcelain/ Vitrified Tile

June 14, 2017 1368 Views 0 comment Print

Seeks to impose anti-dumping duty on Soluble Salt Double Charge, GVT and PGVT, Porcelain/ Vitrified Tiles with less than 3 water absorption and All sizes originating in or exported from the China PR for a period of five years (unless revoked, amended or superseded earlier) from the date of imposition of the provisional anti-dumping duty, that is, the 29th March,2016, imposed vide Notification number 12/2016 dated the 29th March, 2016

Anti-dumping duty on imports of Hydrogen Peroxide

June 14, 2017 2379 Views 1 comment Print

Seeks to impose ADD on the imports of Hydrogen Peroxide originating in or exported from Bangladesh, Taiwan, Korea RP, Pakistan and Thailand for a period of five years.

Manual filing and processing of bills of entry – regarding

June 14, 2017 7452 Views 0 comment Print

Attention of all Importers, Customs Brokers, Members of the Trade and others is invited towards Board’s Instructions No.-06/2017 dated 02.06.2017. It has been reiterated that manual bill of entry shall be allowed to be filed in EDI locations only in exceptional and genuine cases where permitted by the Principal Commissioner/ Commissioner of Customs strictly in accordance with the legal provisions w.e.f. 15.06.2017.

Cabinet clears Bill to deal with crisis in banks, insurers

June 14, 2017 699 Views 0 comment Print

The Financial Resolution and Deposit Insurance, Bill 2017 when enacted, will pave the way for setting up of the Resolution Corporation. It would lead to repeal or amendment of resolution-related provisions in sectoral Acts as listed in Schedules of the Bill.

ICSI invites suggestions on International Corporate Governance Code

June 14, 2017 1050 Views 0 comment Print

It is a proud moment for the Institute which has conceptualized the International Corporate Governance Code for the first time in the world when no one has ever thought of having a universally accepted Corporate Governance norms.

Text of SC Judgment on Aadhaar Card Linkage With PAN

June 13, 2017 3567 Views 0 comment Print

(i) We hold that the Parliament was fully competent to enact Section 139AA of the Act and its authority to make this law was not diluted by the orders of this Court. (ii) We do not find any conflict between the provisions of Aadhaar Act and Section 139AA of the Income Tax Act inasmuch as when interpreted harmoniously, they operate in distinct fields.

SEBI Circular on Comprehensive Review of Margin Trading Facility

June 13, 2017 4545 Views 0 comment Print

The Stock brokers shall be required to comply with the following conditions: i. The stocks deposited as collateral with the stock broker for availing margin trading facility (Collaterals) and the stocks purchased under the margin trading facility (Funded stocks) shall be identifiable separately and no comingling shall be permitted for the purpose of computing funding amount;

1st July July is not feasible for introduction of GST: BCAS

June 12, 2017 5589 Views 2 comments Print

As appears from the news paper reports, it looks like, that the Government is in a hurry to implement GST with immediate effect. The proposed date, 1st July 2017, is not far away.

Section 194I not applicable on remittance of Passenger Service Fees: CBDT

June 12, 2017 1737 Views 0 comment Print

A dispute arose on applicability of the provisions of section 194-I of the Act, on payment of Passenger Service Fees (PSF) by an Airline to an Airport Operator. The Honourable High Court of Bombay in CIT vs. Jet Airways (India) Ltd.’ declined to admit the ground relating to applicability of provisions of section 194-I of the Act on PSF charges holding that no substantial question of law arises.

No deemed dividend U/s. 2(22)(e) on trade advances in the nature of commercial transactions: CBDT

June 12, 2017 6897 Views 0 comment Print

Section 2(22) clause (e) of the Income Tax Act, 1961 (the Act) provides that dividend includes any payment by a company, not being a company in which the public are substantially interested, of any sum by way of advance or loan to a shareholder, being a person who is the beneficial owner of shares

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