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Circulars

CBIC Rescinds Circular No. 46/2017-Customs dated 24.11.2017

February 1, 2019 4512 Views 0 comment Print

Circular No. 46/2017-Customs dated 24thNovember, 2017 stands rescinded on the date of supersession by Circular No. 03/01/2018-IGST dated 25th May, 2018 i.e. w.e.f. 01 st April, 2018.

2nd Corrigendum to Income Tax Circular No. 1/2019 dated 01.01.2019

February 1, 2019 3039 Views 0 comment Print

The undersigned is directed to refer to Circular No. 1/2019 dated 1st January, 2019 bearing file of even number on the above mentioned subject and to state that in para 5.5.12 on page 42 dealing with Section 8oTTB, the phrase in bracket i.e (not being time deposits) stands deleted.

Relief in average export obligation in terms of Para 5.19 of HBPs

January 31, 2019 3894 Views 2 comments Print

The Regional Authorities, while considering requests of discharge of Export Obligation, will ensure that in case of shortfall in Export Obligation fulfillment, the Policy Circulars earlier issued in terms of Para 5.11.2 of HI3P 2009-14 and Para 5.19 of Hand Book of Procedure of FTP 2015-20 are also considered before issuance of the demand notice etc. This stipulation should also form part of the Check- Sheet for the purpose of EODC.

Labelling/ fixing RSP allowed for statutory compliance in Customs Bonded Warehouse

January 31, 2019 6108 Views 0 comment Print

CBIC has decided to allow labelling/ fixing RSP etc. to fulfil statutory compliance requirements in all Customs Bonded Warehouse without the requirement of taking permission under Section 65 of the Customs Act.

SEBI: Systems deemed to be based on AI and ML technology

January 31, 2019 645 Views 0 comment Print

SEBI is conducting a survey and creating an inventory of the AI / ML landscape in the Indian financial markets to gain an in-depth understanding of the adoption of such technologies in the markets and to ensure preparedness for any AI / ML policies that may arise in the future.

New pattern of listing before Supreme Court wef 04.02.2019

January 30, 2019 1482 Views 0 comment Print

Fresh matters verified on Friday in the post lunch session, Saturday, Monday and Tuesday in the pre-lunch session i.e. upto 1.00 P.M. shall be listed on Friday in the same week and those verified on Tuesday in the post lunch session, Wednesday, Thursday and Friday in the pre-lunch session e. upto 1.00 P.M. be listed on Monday in the next week.

Liability & status of Official Assignees under Income-tax Act

January 28, 2019 7074 Views 0 comment Print

Official Assignee is required to file income-tax return electronically in the ITR Form applicable to ‘artificial juridical person’ separately for each of the estate of the insolvent and the income shall be taxed as per the rates applicable in a particular year to an ‘artificial juridical person’.

Uniform trading & delivery lot size for commodity derivatives

January 23, 2019 612 Views 0 comment Print

The practice of different trading and delivery lot sizes, at times, puts participants in disadvantageous positions. The matter was discussed in CDAC and based on the recommendation of CDAC it has been decided that the exchanges shall follow the policy of having uniform trading and delivery lot size for the commodity derivatives contracts.

Clarifications in SEBI (Depositories and Participants) Regulations, 2018

January 23, 2019 1194 Views 0 comment Print

(i) For the purpose of Regulation 24 (9) and Regulation 24 (10) of SEBI (D&P) Regulations 2018, a recognized clearing corporation shall not be considered as a Depository Participant.

RVAT: Penalty on Awarders not revising Form VAT-40E in time

January 23, 2019 1143 Views 0 comment Print

Rule 40(8B) provides that where an awarder discovers any omission or error in the Form VAT-40E furnished by him, he may furnish a revised Form VAT-40E within three months from the close of the relevant year.

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