Doubts have been raised regarding the classification of Cut pieces of Fabrics under GST. It has been represented that before becoming readymade articles or an apparel, the fabric is cut from bundles or thans and sold in that unstitched state. The consumers buy these sets or pieces and get it stitched to their shape and size.
Briefly stated, references have been received related to applicability of GST on the superior kerosene oil [SKO] retained for the manufacture of Linear Alkyl Benzene [LAB].
Based on the deliberations, it has been decided to revise the framework for block deals by providing two block deal windows as follows: 1. Morning Block Deal Window: This window shall operate between 08:45 AM to 09:00 AM.
All companies required to prepare or voluntarily preparing their financial statements in accordance with Companies (Indian Accounting Standards) Rules, 2015 for financial year 2016-2017 are required to file their statements only in XBRL format.
Circular No. 26/2017 : Order under section 119 of the Income-tax Act, 1961 in respect of extension of due date for filing of Country-by-Country Report for reporting accounting year 2016-17
Clarification has been sought by stakeholders as to whether approval of shareholders/ members of the corporate debtor/ company is required for a resolution plan at any stage during the process for its consideration and approval as laid down under sections 30 and 31 of the Insolvency and Bankruptcy Code, 2016
Onetime relaxation for condonation of delay in submission of installation certificate under EPCG Scheme is being provided. Public Notice No. 37/2015-20
Export allowed freely but export to European Union allowed subject to the following conditions : (i) A ‘Shipment Clearance Certificate’ is to be issued consignment-wise by the CAPEXIL indicating details of the name and address of the exporter, address of the registered plant, IEC No. of the exporter, Plant approval number, nature of export product, quantity, invoice number and date, port of loading (name of the port) and destination
It has come to notice that many exporters are not submitting separate 6 monthly negative statement of the Authorized Dealer/CA in the prescribed format, i.e., for the period January –June/July – December for every year after 01.01.2004. As a result the details of export proceeds for export shipments made during the period of 6 months are not properly reflected.
Onetime relaxation for condonation of delay in submission of request for obtaining extension in Export Obligation period under EPCG is being provided.
