Procedure to be followed in cases of manufacturing or other operations undertaken in bonded warehouses under section 65 of the Customs Act vide Circular No. 38/2018-Customs Dated the 18th October 2018
It is hereby directed that with effect from 1st February, 2019, no insolvency professional shall appoint a person other than a registered valuer to conduct any valuation under the Code or any of the regulations made thereunder.
Majority of the agricultural commodities traded on exchange platform requires assaying. The number and size of the samples are determined by the nature of commodity and the requirements of tests to be done in order to meet the exchange specifications. It has come to the notice that varied approaches are being followed by the exchanges in this regard.
Interoperability is the technical compatibility that enables a payment system to be used in conjunction with other payment systems. Interoperability allows PPI Issuers, System Providers and System Participants in different systems to undertake, clear and settle payment transactions across systems without participating in multiple systems.
Directions governing the functioning of CCPs are given in this circular for compliance. The CCPs shall continue to ensure compliance with the Principles for Financial Market Infrastructures (PFMI). It Contains Section A- Directions on Governance of domestic CCPs authorised to operate in India by the RBI, Section B –Directions on Networth requirements and Ownership of […]
All the Sales Tax authorities undertaking assessments, appeals, or, as the case may be, review, are hereby directed not to disallow the claims made under section 8(6) of the CST Act, merely on the ground that the declarations in Form ‘I’ are issued by Sales Tax/Commercial Tax authorities of other States.
Grant of refunds of the amount deposited by way of security deposit of Rs. 25000 at the time of Voluntary Registration under MVAT Act, 2002.
It has been noted that exporters had availed the option to take drawback at higher rate in place of IGST refund out of their own volition. Considering the fact that exporters have made aforesaid declaration while claiming the higher rate of drawback, it has been decided that it would not be justified allowing exporters to avail IGST refund after initially claiming the benefit of higher drawback.
It has been decided to permit foreign entities having actual exposure to Indian commodity markets, to participate in the commodity derivative segment of recognized stock exchanges for hedging their exposure.
In terms of Schedule I of Haryana Goods and Services Tax Act, 2017, supply of goods by an agent on behalf of the principal without consideration has been deemed to be a supply.
