Whole of the late fee payable by any dealer, who files any return for any of the periods starting from 1st April 2016 to 30th September 2016 shall be exempted, if such return is filed on or before the 15th November 2016.
Disallowances made under sections 32, 40(a)(ia), 40A(3), 43B, etc. of the Act and other specific disallowances, related to the business activity against which the Chapter VI-A deduction has been claimed, result in enhancement of the profits of the eligible business, and that deduction under Chapter VI-A is admissible on the profits so enhanced by the disallowance.
Circular covers following- 1. Formulation of Rating Criteria and rating processes and public disclosure of the same.2. Accountability of Rating Analysts
(a) AIRs have been provided to certain worked articles under chapters 45, 46 and 68; (b) Certain products, earlier with all customs AIRs, have been provided composite rates. These include rubber parts (for automobile or other machinery) of chapter 40 and children’s picture, drawing/colouring books, etc. of chapter 49;
l, H. Rajesh Prasad, Commissioner, Value Added Tax, do hereby extend the last date of filing of online/hard copy of second quarter return for the year 2016-17, in Form DVAT-16, DVAT-17 and DVAT-48 along with required annexure/enclosures to 14/11/2016
It has been decided to further extend the last date for filing of financial statements and annual returns e-forms AOC-4, AOC-4 (XBRL) AOC-4 (CFS) and MGT-7 as the case may be, without payment of additional fee, wherever applicable till 29th November, 2016.
e-Services offered by the Department have been welcomed by the dealers and their representatives. The Sales Tax Department has already made available facility to make payment through GRAS (Government Receipt Accounting System) for Entry Tax payers.
Total number of banks accepting e—payments under aforementioned acts is 25. Apart from this the e-payments under Profession Tax Act, Entry Tax Act, Luxury Tax Act and SCPT Act need to be made through web site of GRAS.
The goods imported/procured utilizing SFIS Scrip issued in terms of FTP 2009-14 may be sold/transferred on completion of 3 years from the date of clearance of import/ procurement
It is therefore decided, in consultation with the Government of India to permit AD Category-I banks to allow Startups to raise ECB under the following framework:
