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Notifications/Circulars

Request for completion of audit manually for TROs for F.Y. 2018-19

October 16, 2018 1260 Views 0 comment Print

The Pr. CCIT shall put in place a system of audit of one TRO by another TRO. The audit objections raised shall be followed up by CIT (Audit) similar to other objections.

Reg. Anti-dumping duty on the import of Phthalic Anhydride

October 15, 2018 2598 Views 0 comment Print

Seeks to not to continue levy of anti-dumping duty on the import of Phthalic Anhydride, originating in or exported from Korea RP, Taiwan and Israel which was levied by rescind Notification No. 58/2012-Customs (ADD) dated 24th December, 2012. NOTIFICATION No. 52/2018-Customs (ADD) Dated: 15th October, 2018

Notification No. 86/2018-Custom (N.T.), Dated: 15.10.2018

October 15, 2018 1284 Views 0 comment Print

Notification No. 86/2018-CUSTOMS (N.T.) In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs (N.T.), dated the 3rd August, 2001

Guidelines to handle/store valuable goods seized/confiscated by Customs

October 15, 2018 3780 Views 0 comment Print

The packages containing the valuables should be bar coded so as to ensure correct inventorisation and tallying of packages at the time of handing over/taking over etc. The ‘e-malkhana’ system of Delhi Customs could be adopted by other formations.

RBI Directions on Governance of authorised domestic CCPs

October 15, 2018 1296 Views 0 comment Print

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 […]

IBBI Committee instructs IP to undergo pre-registration educational course

October 15, 2018 891 Views 0 comment Print

Mr. Gupta to undergo the pre-registration educational course specified under regulation 5(b) of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 from his Insolvency Professional Agency to improve his understanding of the Code and the regulations made thereunder, before accepting any assignment under the Insolvency and Bankruptcy Code, 2016.

Maharashtra Goods and Services Tax (Amendment) Ordinance, 2018

October 13, 2018 2247 Views 0 comment Print

The Maharashtra Goods and Services Tax Act, 2017 (Mah. XLIII of 2017) has been enacted with a view to make a provision for levy and collection of tax on intra-State supply of goods or services or both.

Issuance of Form ‘I’ under Central Sales Tax Act, 1956.

October 11, 2018 32991 Views 1 comment Print

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.

MVAT: Withdrawal of pending cases based on probable revenue involved

October 11, 2018 5895 Views 0 comment Print

Government of Maharashtra considers it expedient, to formulate a Scheme to decide the criteria for withdrawal of the assessment proceedings based on threshold revenue earnings, below which assessment proceedings may be withdrawn, and complete the assessments that may remain after such withdrawal, in a time bound manner :

MCA Amends disclosure requirement in Balance Sheet & P&L Statement

October 11, 2018 62250 Views 0 comment Print

MCA amends Instructions For Preparation of Balance Sheet and Statement Of Profit And Loss of A Company / NBFCs Ministry of Corporate Affairs notifies Ind AS Schedule III applicable to NBFCs. Schedule III will apply to NBFCs covered under Ind AS applicability. MCA has also amended the existing Division I (Indian GAAP) & Division II […]

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