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Govt increases import tariff rate of soya beans from 30% to 45%

November 17, 2017 552 Views 0 comment Print

WHEREAS the Central Government on being satisfied that the import duty leviable on goods falling under heading 1201 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), should be increased and that circumstances exist which render it necessary to take immediate action.

Govt increases Custom Duty on crude palm/sunflower/Soya bean/ canola/mustard/colza oil

November 17, 2017 810 Views 0 comment Print

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do

OTC Government Securities Transaction by FPIs – Settlement Period

November 16, 2017 696 Views 0 comment Print

As announced in paragraph 13 of the Statement on Developmental and Regulatory Policies, of the fourth Bi-monthly Monetary Policy Statement for 2017- 18 dated October 04, 2017, it has now been decided to permit FPIs to settle OTC secondary market transactions in Government Securities either on T+1 or on T+2 basis. It may be ensured that all trades are reported on the trade date itself.

Agency Commission for GST receipt transactions

November 16, 2017 948 Views 0 comment Print

Please refer to Para 15 of our Master Circular on Conduct of Government Business by Agency Banks – Payment of Agency Commission dated July 01, 2017 related to claiming of agency commission.

Notification under MVAT Schedule entry B-11A (ATF for RCS flights)

November 16, 2017 1050 Views 0 comment Print

No. VAT. 1517/C.R.156/Taxation-1.—In exercise of the powers conferred by entry 11A of Schedule B of the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005), the Government of Maharashtra, hereby with effect from the date 1st April 2017, specifies the following conditions for the purpose of the said entry

Secondary market transactions in Government Securities – Notional Short Sale

November 16, 2017 852 Views 0 comment Print

In terms of RBI circulars IDMD.PCD.21/14.03.07/2011-12 dated June 21, 2012, and IDMD.PCD.14/14.03.07/2011-12 dated December 28, 2011 market participants undertaking ‘notional’ short sale are not permitted to use securities from their HTM/AFS/HFT portfolio for delivery against the short sale.

Procedure for obtaining Self Sealing Permission for Electronic Sealing of containerized cargo at factory or warehouse premises – reg

November 16, 2017 42030 Views 2 comments Print

Attention of the Exporters, Custom Brokers and all concerned are invited to the Board Circular No. 41/2017 dated 30.10.2017 read with Board Circular No. 26/2017 dated 01.07.2016, 36/2017 dated 28.08.2017 and 37/2017 dated 27.09.2017.

Govt appoints Second National Judicial Pay Commission

November 16, 2017 1752 Views 0 comment Print

In pursuance of the above direction of Supreme Court of India, it has been decided to appoint a fresh National Judicial Pay Commission, to be known as Second National Judicial Pay Commission, comprising the following:—

MGST: Exemption to all tax payers from payment of tax on advances

November 15, 2017 1983 Views 0 comment Print

Government of Maharashtra, on the recommendations of the Council, hereby notifies the registered person who did not opt for the composition levy under section 10 of the said Act as the class of persons who shall pay the state tax on the outward supply of goods at the time of supply

MGST: Exemption to suppliers of services through an e-commerce platform

November 15, 2017 804 Views 0 comment Print

Government of Maharashtra, on the recommendations of the Council, hereby specifies the persons making supplies of services, other than supplies specified under sub-section (5) of section 9 of the said Act

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