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MEIS benefit on Sal / Kokam Oil & Mango Butter (cultivated) notified

December 17, 2018 759 Views 0 comment Print

Sal Oil, Kokam Oil and Mango Butter (cultivated) have been made eligible for MEIS benefits at the rate of 5% for exports made with effect from the date of publication of this Public Notice.

West Bengal Taxation Laws (Amendment) Act, 2018

December 17, 2018 2226 Views 0 comment Print

(1) This Act may be called the West Bengal Taxation Laws (Amendment) Act, 2018. (2) Save as otherwise provided, this section shall come into force with immediate effect, and the other provisions of this Act shall come into force on such date as the State Government may, by notification in the Official Gazette, appoint and different dates may be appointed for different provisions of this Act and any reference in any such provision to the commencement of this Act shall be construed as a reference to the coming into force of that provision.

SEBI proposes Early Warning Mechanism to prevent diversion of client securities

December 17, 2018 1023 Views 0 comment Print

There have been instances where stock brokers had diverted clients’ securities received as collaterals towards margin obligations and / or settlement obligations, for raising loan against shares on their own account and / or for meeting securities shortages in settlement obligations on its own account.

SEBI Reviews risk management framework for Equity Derivatives Segment

December 17, 2018 822 Views 0 comment Print

The Principles for Financial Market Infrastructures (PFMI) inter alia prescribe that a central counterparty (CCP) should identify and consider a number of elements, including Margin Period of Risk (MPOR) or close-out period, when constructing an appropriate margin system to address risks that arise from the products cleared. T

Increased customs duty on specified imports postponed to 31.01.2019

December 15, 2018 1221 Views 0 comment Print

 CBIC Seeks to further postpone the implementation of increased customs duty on specified imports originating in USA from 17th December, 2018 to 31st January, 2019. GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 80/2018-Customs New Delhi, the 15th December, 2018 G.S.R. 1212(E).- In exercise of the powers conferred by sub-section (1) of section […]

GST on supply by Contract Bottling Unit & brand owner to each other

December 15, 2018 5937 Views 0 comment Print

In re Allied Blenders and Distillers Private Limited (GST AAR Maharashtra) Question :- Whether in the facts and circumstances of the present case, the Contract Bottling Unit is making a taxable supply to the Applicant (i.e. Brand Owner), oi . alternatively, whether the Applicant (i.e. brand owner) is making a taxable supply to the. Contract g […]

PP Woven Bags/Sacks shall be classifiable under chapter 39: AAR

December 14, 2018 3762 Views 0 comment Print

In re Nargrani Warehousing Private Limited (GST AAR Madhya Pradesh) Following the ratio of the judgment of Hon’ble High Court of Madhya Pradesh in case of M/s.Raj Packwell Ltd. (Supra) as well as order dtd. 25.10.2018 of the learned West Bengal Appellate of Advance Ruling in case of M/s.Mega Flex Plastics Ltd., both being squarely […]

GST on Placement of specified medical instruments for use without consideration

December 14, 2018 3621 Views 0 comment Print

In re M/s Abbott Health Care Private Ltd. (GST AAAR Kerala) Placement of specified medical instruments to unrelated customers like hospitals, labs etc. for their use without any consideration, against an agreement containing minimum purchase obligation of products like reagents, calibrators, disposals etc. for a specific period constitute a composite supply, the principal supply being […]

Functionality of Withholding of Income Tax Refund u/s 241A- Reg.

December 14, 2018 5067 Views 0 comment Print

ITBA-ITR Processing Instruction No. 5 DIRECTORATE OF INCOME TAX (SYSTEM) ARA Center, Ground Floor, E-2, Jhandewalan Extension, New Delhi – 110055 F.No. System/ITBA/Instruction/ITR Processing/112/16-17/ Dated: 14.12.2018 To All Principal Chief Commissioners of Income-tax/CCsIT All Principal Director Generals of Income Tax /DGsIT All Principal Commissioners of Income-tax/CsIT/CsIT(Admin & TPS) All Principal Directors of Income Tax/DsIT Madam/Sir, […]

Internal Audit Procedure of Registration Process of Charitable Trusts

December 14, 2018 3399 Views 0 comment Print

It has been recommended by the Hon’ble Public Accounts Committee that the process of the Registration Process of Charitable Trusts / Institutions should be brought under the purview of internal audit.

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