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GST AAR cannot answer the question on classification of imported goods

May 9, 2019 1875 Views 0 comment Print

In re A Raymond Fasteners India Pvt. Ltd. (GST AAR Maharashtra) Advance Ruling authority is not allowed to answer the question on classification of imported goods since the same is out of the purview of Sec. 95 of CGST Act.In this case jurisdictional office has raised the issue of classification of imported goods not being […]

GST AAR Karnataka permits Hotel Leela to withdraw application

May 9, 2019 966 Views 0 comment Print

In re Ms Hotel Leela Venture Limited (GST AAR Karnataka) i) Whether Sale of Karnataka Hotel as going concern on slump sale basis can be construed to be “Supply” in terms of Section 7(1) of the CGST Act 2017? If answered in affirmative, whether the transaction would be regarded as supply of goods or supply […]

NAA found Builder guilty of not passing of additional ITC benefit

May 8, 2019 1761 Views 0 comment Print

The issue that needs to be dwelled upon is as to whether there was a case of not passing on of the benefit of ITC and whether the provisions of Section 171 of CGST Act, 2017 are attracted in the present case.

Loss on revaluation of foreign exchange cannot be denied for mere failure to debit liabilities in books

May 8, 2019 774 Views 0 comment Print

Assessee could not be debarred from claiming a foreign exchange loss as per Accounting Standard-11 as deduction only for the reason that it had failed to debit liabilities in its books of account.

Permitting Foreign Portfolio Investors (FPI) to invest in Municipal Bonds

May 8, 2019 525 Views 0 comment Print

2. It is decided that in accordance with the provisions of Regulation 21(1)(p) of SEBI (Foreign Portfolio Investors) Regulations, 2014, FPIs are, henceforth, permitted to invest in municipal bonds.3. This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992.

SOP for visit to premises for verification of GST registration particulars

May 7, 2019 29451 Views 0 comment Print

Circular No. 4/2019 – GST Registered Tax Payers – Validation of Registration details furnished – SoP for visit to taxable person’s premises for verification of registration particulars. Office of the Commissioner of State Goods and Services Tax Department, Government of Kerala, Thiruvananthapuram No. CT/1267/2019-C1 Dated 07/05/2019 Circular No. 4/2019 Sub: Registration under State Goods and […]

Maximum entries in single online ANF 3D application increased

May 7, 2019 627 Views 0 comment Print

The number of entries of shipping bills/ Airway bills which can be filed in a single online ANF 3D application has been increased from 50 to 250 for claiming MEIS benefit.

Govt permits Supply of essential commodities to Maldives during 2019-20

May 7, 2019 522 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 2019-20 w.e.f. April, 2019 as per the quantities indicated in the Table at Para I above. The export of above items to Republic of Maldives will be exempted from any existing or future restriction / prohibition on export.

Processing of applications received for import of Peas and Pulses

May 7, 2019 537 Views 0 comment Print

Processing of applications received in response to Trade Notice No.06/2019-20 dated 16th April, 2019 for import of Peas and Pulses for the fiscal year 2019-20. Government of India Ministry of Commerce and Industry Department of Commerce Directorate General of Foreign Trade TRADE NOTICE NO. 09/2019-2020 New Delhi, Dated the 7th May, 2019 To 1. RAs […]

SEBI (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2019

May 7, 2019 4503 Views 0 comment Print

SEBI notifies Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2019 which shall come into force on the date of their publication in the Official Gazette. SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 7th May, 2019 SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) […]

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