In this connection, trade has requested that a procedure be prescribed for supply of bunker fuel for such use from bonded stocks of bunker fuel being maintained by the Oil Manufacturing Companies (OMCs) at the ports located in the coastal areas where the specified ships/ vessels operate.
Time limit for taking central excise registration of an establishment by a jeweller is being extended up to 31.07.2016. However, assessee jewellers may make the payment of excise duty for the months of March, 2016; April, 2016 and May. 2016 along with the payment of excise duty for the month of June, 2016 upto the extended date of 31.07.2016.
Itis announced for general information that during the year 2016-2017, accumulations at the credit of subscribers to the Staff Provident Fund shall carry interest at the rate of 8.1% (Eight point one percent) per annum w.e.f. 01.04.2016 to 30.06.2016.
8th floor, Vikrikar Bhavan, Mazgaon, Mumbai-400010. TRADE CIRCULAR To, No. VAT/MMB-2015/47/2016-17/ADM-8 dated 30th June 2016. Trade Cir. No. 19T of 2016 Subject: FAQ’s on Settlement of Arrears in Disputes Act, 2016. Ref. (1) The Maharashtra Settlement of Arrears in Disputes Act, 2016. (Act No. XVI of 2016) (2) Trade Circular No. 10T of 2016 dated […]
With a view to rationalizing and expediting the process of giving approval, it has been decided that ECB proposals received in the Reserve Bank above a certain threshold limit (refixed from time to time) be placed before the Empowered Committee. The Reserve Bank will take a final decision in the cases taking into account the recommendation of the Empowered Committee.
As the payment channel for processing ‘ACU Euro’ transactions is under review, it has become necessary to temporarily suspend operations in ‘ACU Euro’ with effect from July 01, 2016. Accordingly, all eligible current account transactions including trade transactions in ‘Euro’ are permitted to be settled outside the ACU mechanism until further notice.
The circular inter alia provides clarifications on issues such as confidentiality of information disclosed in the declaration, allowability of TDS credit against declared income, enquiry in respect source of income and payment of tax and initiation of enquiry against third parties on the basis of information furnished in the declaration.
ODIs have been issued to unregulated funds under the FII Regulations. Whether these ODI positions can continue under the FPI regime? Whether the existing ODI subscribers can continue to subscribe to ODIs?
An assessee who conducts business both as an importer and a First Stage Dealer may take only one registration as he has been exempted from the requirement of taking a second registration. It may be noted that the facility is optional and any assessee needing separate registration for his own business purposes, may so register.
If only part payment of the tax, surcharge and penalty payable on undisclosed income declared under the Scheme is made before 30.11.2016, then whether the entire declaration fails as per section 187(3) of the Finance Act, 2016 or pro-rata declaration on which tax, surcharge and penalty has been paid remains valid?
