As Nepal and Bhutan are landlocked countries, there is a facility of transit trade whereby goods are imported from third countries by Nepal and Bhutan through India under the cover of Customs Transit Declarations in terms of the Government of India Treaty of Transit with these two countries.
CIRCULAR NO. 5 of 2015-16, Dated: 28.04.2015 It has been brought to the notice that Special Objection Hearing Authorities authorised for the disposal of the objections filed on account of mismatch of Annexures 2A/2B are not passing the orders in Form DVAT-40.
Circular No. 1001/08/2015-CX-8 Dated- 28th April, 2015 Post these amendments, apprehensions have been expressed by the trade as to whether the following benefits would be available after these amendments: i. Benefit of rebate of duty on goods cleared from DTA to SEZ. ii. Refund of accumulated CENVAT credit when goods are cleared from DTA to SEZ.
With the upgradation of technology, department is considering to expedite the registration process in the shortest possible time. Government of India is also pressing hard to accelerate the registration process under ‘Ease of Doing Business’ Campaign. It has now been decided to issue registration as per following procedure:-
Hereby extend last date of filing of online/hard copy of fourth quarter return for year 2014-15, in Form DVAT-16 ,DVAT-17 and DVAT-48 along with required annexure/enclosures to 15/05/2015.
CIRCULAR NO. 1 of 2015-16, Dated: 24/04/2015 The following up-gradations/Changes were made in the existing modules, during the first half of April’2015. 1. Item add link (for dealers): The item add link initially provided to the dealer for online downloading of central forms has been removed. Now, the item can be added through amendment or DP-1 link only.
CIRCULAR No. 07/2015 Date- April, 23, 2015 The Central Board of Direct Taxes (the Board) had earlier issued Circular No. 4/2002 dated 16.07.2002 which laid down that in case of such entities, whose income is unconditionally exempted under Section 10 of the Income-tax Act (the Act) and who are statutorily not required to file return of income as per Section 139 of the Act, there would be no requirement for tax deduction at source (TDS) from the payments made to them since their income is anyway exempted under the Act.
Circular No. 14/2015-Cus., dated 20th April 2015 Reward in the form of duty credit shall be issued by the DGFT to service providers of notified services located in India under the Service Exports from India Scheme (SEIS) or to export of notified goods (including from SEZs) to notified markets / countries under the Merchandise Exports from India Scheme (MEIS) of the Policy.
The exclusively listed companies which fail to obtain listing in any other nationwide stock exchange will cease to be a listed company and will be moved to the dissemination board by the existing stock exchange. Subsequently, SEBI has been in receipt of representations from exclusively listed companies stating that although they are interested and eligible to migrate to the main boards of nationwide stock exchanges, they are not in a position to opt for the same due to paucity of time. Such companies have sought time to list in nationwide stock exchanges.
Procedure for tendering and settlement of shares through Stock Exchange -ACQUISITION WINDOW- a. The facility for acquisition of shares through Stock Exchange mechanism pursuant to offer shall be available on the Stock Exchanges having nationwide trading terminals in the form of a separate window (the Acquisition Window).
