Circulars’s Popular Posts


No need to report clause 30C (GAAR) & 44 (GST) of Revised 3CD Report till 31.03.2019

Representations have been received by the Board that the implementation of reporting requirements under the proposed clause 30C (pertaining to General Anti-Avoidance Rules (GAAR)) and proposed clause 44 (pertaining to Goods and Services Tax (GST) compliance) of the Form No. 3CD may be deferred....

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Draft circular on removal of restriction on ITC refund on fabrics

F. No. 354/290/2018-TRU

Certain doubts have been raised regarding the applicability and intent of notification No. 20/2018-Central Tax (Rate) dated 26th July, 2018 (which seeks to amend notification No. 5/2017-Central Tax (Rate) dated 28.06.2017) relating to the provision for lapsing of input tax credit on account of inverted duty structure on fabrics for the pe...

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E-book mechanism for issuance of securities on private placement basis

Circular No. SEBI/HO/DDHS/CIR/P/2018/122 (16/08/2018)

2. With a view to further rationalise and ease the process of issuance of securities on EBP platform and in consultation with the market participants, it has been decided to provide for the following additional facilities:...

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SEBI to reduce time for listing after closure of issue to 6 working days

Circular No. CIR/DDHS/P/121/2018 (16/08/2018)

In order to make the existing process of issuance of debt securities, NCRPS and SDI easier, simpler and cost effective for both issuers and investors under the SEBI ILDS, SEBI ILDM, SEBI NCRPS and SEBI SDI regulations respectively, it has been decided to reduce the time taken for listing after the closure of the issue to 6 working days as...

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Computation of deduction u/s 10A of Income Tax Act, 1961

Circular No. 4/2018 (14/08/2018)

As per section 10A(4) of Income Tax Act, 1961, profits derived from export of articles or things or computer software shall be amount which bears to the profits of the business of the undertaking , the same proportion as the export turnover in respect of such articles or things or computer software bears to the total turnover of the busin...

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Clarification regarding bank guarantee requirement for bond executed by EOUs

Various representations have been received regarding difficulties faced by EOUs with respect to requirements of bank guarantees in view of Circular no. 48/2017-Customs dated 08.12.2017 issued by CBIC. The matter has been examined....

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Enhanced monitoring of Qualified Registrars to an Issue and Share Transfer Agents

Circular No. SEBI/HO/MIRSD/DoP/CIR/P/2018/ 119 (10/08/2018)

SEBI constituted a Committee under the Chairmanship of Shri R. Gandhi, Former Deputy Governor, Reserve Bank of India to review the regulations and relevant circulars pertaining to Market Infrastructure Institutions (MIls). The Committee also looked into the desirability of extending the extant framework of MIIs to certain market intermedi...

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Circular- Notice for Meetings of the Committee of Creditors

Circular No. IBBI/CIRP/016/2018 (10/08/2018)

The Committee deliberated on who should be on the creditors committee, given the power of the creditors committee to ultimately keep the entity as a going concern or liquidate it. The Committee reasoned that members of the creditors committee have to be creditors both with the capability to assess viability, as well as to be willing to mo...

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Simplification & rationalization of processing of AEO-T1 application

Circular No. 26/2018-Customs (10/08/2018)

Reference is drawn to the Circular 33/2016- Customs dated 22.7.2016 as amended. The Indian AEO Programme is governed by this circular. Multiple suggestions have been received from various field formations, wherein it has been emphasised that the compliance requirements for AEO T1 are not commensurate with the benefits allowed to AEO T1 en...

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Extension of Campaign for GST Migration cases to 18.08.2018

Trade Circular No. 19T of 2018 (10/08/2018)

GST Council in 28th meeting approved opening of Migration window for taxpayers, who have filed Part A of GST REG-26, but not completed Part B of said form. Accordingly, Maharashtra State Tax Department had issued above referred trade circular 18 T of 2018 dated 31/07/2018 and organised a Special Campaign during 06 August 2018 to 10 August...

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