Ministry of Corporate Affairs has clarified the following issues with respect to the capitalisation of borrowing costs in power projects: 1) Borrowing costs incurred during extended delay in commencement of commercial production after the plant is otherwise ready, can not be capitalised by virtue of AS-10 & AS-16 issued by ICAI.
On a review, it has been decided to simplify the procedure by delegating powers to the AD Category – I banks to approve even those cases where the AMP of the fresh ECB is exceeding the residual maturity of the existing ECB under the automatic route subject to the following conditions:
Norms for contribution to Core SGF as well as default waterfall have been specified with a view that all the stakeholders (CC, SE and CMs) are incentivised to adequately monitor the risks brought into the system.
The format for the reports/disclosures to be filed under Regulation 30 of the Regulations has been prescribed by SEBI vide circular No. SEBI/CFD/DCR/SAST/ 1/2011/09/23 dated September 23, 2011.
This department vide Notification No. 3(393)VAT/2013/1085-1096 dated 19/02/2013, directed the owner/lessee/custodian of the venue where programmes/functions are to be organised In the Banquet Halls, Farm Houses, Marriage/Party Halls, Hotels, Open Ground etc, where food and/or liquor items are to be supplied/provided and cost of booking exceeds rupees one lakh per function to get themselves enrolled by filing form BE-1 and thereafter to submit return in Form BE-2 at least 3 days before first day of a month and for second fortnight by 12th of the month.
Imports made by Central/State Governments, Municipalities, public sector undertakings and autonomous bodies will not be considered for ad-hoc exemption. All such agencies are expected to make budgetary provisions for payment of customs duty along with the cost of the imported goods.
At the conclusion of the Scheme, the Registrar shall take necessary action under the Companies Act, 1956/ 2013 against the companies who have not availed this Scheme and are in default in filing these documents in a timely manne
The amended provision has been informed to Sugar Commissioner. If the Sugar Commissioner informs to Commissioner of Sales Tax that a sugar factory has not paid fair and remunerative price to the farmers, then the exemption availed/granted shall stand withdrawn.
The department has selected the cases for comprehensive assessment for the year 2011/12. The facility of CDA will not be available to these assesses. Assesses, in these cases, will be required to attend before the assessing authority for the complete verification of their books of accounts.
Therefore, all eligible dealers are required to furnish relevant information for the year 2013-14 latest by 30/09/2014. In the Form 9, dealer can also furnish the details of pendency of forms for preceding three years, viz. 2010-11, 2011-12, 2012-13, if no assessment has been framed for the relevant year.
