Service Tax liability for services provided by an arbitral tribunal (including the individual arbitrators of the tribunal) shall be on the service recipient if it is a business entity located in the taxable territory with a turnover exceeding rupees ten lakh in the preceding financial year.
Circular, nominating trade representatives in the Sub-Committee of the High level Committee, on the issue of imposition of Central Excise duty on articles of jewellery in the Union budget 2016-17.
Department of Trade and Taxes has developed a mobile application DVATMsewa to provide various services to traders. One of the services to be provided through the new App is registration of dealers under the DVAT Act, 2004 and CST Act, 1956. The following procedure is hereby prescribed to deal with requests for registration of dealers received through DVATMsewa App without verification of business premises by VAT Inspector and to complete the registration process almost instantaneously:-
I, S.S.Yadav, Commissioner, Value Added Tax, do hereby extend the last date of filing of online/hard copy of fourth quarter return for the year 2015-16, in Form DVAT-16, DVAT-17 and DVAT-48 along with required annexure/enclosures to 23/05/2016.
MCA extend the period for which the one time waiver of additional fees is applicable to all e-forms which are due for filing by companies between the 25th March 2016 upto 31st May 2016 as well as extend the last date for filing such documents and availing the benefit of waiver to 10.06.2016.
It is clarified that companies, while undertaking Corporate Social Responsibility activities under provision of the Companies Act, 2013, shall not contravene any other prevailing laws of the land including Cigarettes and other Tobacco Products Act (COTPA), 2003.
Unlisted debt securities: FPIs can invest in the primary issues of non-convertible debentures/bonds by a public company issued in demat form, provided that the issuing company does not use the borrowing proceeds for real estate activities, purchase of land, investing in capital market or on-lending to other entities. The custodian banks of FPIs shall ensure compliance with this condition based on an undertaking from the issuing company.
Amendment to Ch IX of the Customs Act, 1962 – Bond required to be filed under section 59-The Bonds to be executed by the importer under subsection (1) or sub-section (2) of section 59 of the Customs Act have been finalized in consultation with the Ministry of Law & Justice and are annexed.
Procedure to be followed by the licensee or bond officer, as the case may be, to permit deposit of the goods into a warehouse. The regulations require that goods arriving at the warehouse from a customs station shall be affixed with a one-time-lock (bottle seal) with its serial number endorsed upon the bill of entry for warehousing and the transport document.
On a review it is felt necessary to revise the regulations issued under the Foreign Exchange Management (Exports of Goods and Services) Regulations, 2000 as amended from time to time. Accordingly, in consultation with the Government of India, the said regulations have been repealed and superseded by the Foreign Exchange Management (Exports of Goods and Services) Regulations, 2015.
