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EPFO Introduces real time system in EPFO Default management

April 25, 2017 2082 Views 0 comment Print

EPFO has introduced the ECR 2.0 for online collection of remittances through multi-banking. After introduction of the Unified Portal system for remittance of contributions, real time monitoring of the remittance position of the establishments has become a reality.

Govt mandated Aadhaar for FAME-India Scheme

April 25, 2017 2007 Views 0 comment Print

Department of Heavy Industry is administering the Central Sector Scheme of incentive to the consumers for purchase of Hybrid & Electrical Vehicles under the Faster Adoption and Manufacturing of (Hybrid and) Electrical Vehicles in India (FAME-India) Scheme (hereinafter referred to as the Scheme);

Govt. notifies Insurance Ombudsman Rules, 2017

April 25, 2017 8979 Views 0 comment Print

These rules shall be called the Insurance Ombudsman Rules, 2017. The objects of these Rules is to resolve all complaints of all personal lines of insurance, group insurance policies, policies issued to sole proprietorship and micro enterprises on the part of insurance companies and their agents and intermediaries in a cost effective and impartial manner.

DGFT amends Table A of Schedule 2 & Appendix 3 of ITC(HS)

April 24, 2017 4035 Views 0 comment Print

In exercise of the powers conferred by Section 5 and Section 14A of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) read with Para 1.02 of the Foreign Trade Policy, 2015-2020, as amended, and in supersession of DGFT Notification No.38 (RE-2010) /2009-2014 dated 31st March, 2011, Notification no. 93(RE-2012)/2009-14 dated 6th January 2012

Sec. 115TD(2) Valuation Method -Accreted Income of Certain Trusts

April 21, 2017 10266 Views 0 comment Print

For the purpose of sub-section (2) of section 115TD of the Act, the aggregate fair market value of the total assets of the trust or institution, shall be the aggregate of the fair market value of all the assets in the balance sheet as reduced by-

Duty Credit Scrip can be utilised for Custom Duty payment

April 21, 2017 1818 Views 0 comment Print

Duty Credit Scrip can be utilised/debited for payment of Custom Duties in case of EO defaults for Authorizations issued under Chapters 4 and 5 of previous FTPs as well. The Para 3.18(a) of FTP 2015-20 has been amended to bring more clarity on the utilization of Duty Credit Scrips for payment of Customs Duties in case of EO defaults.

Notification No. 17/2017-Customs, Dated: 21.04.2017

April 21, 2017 4785 Views 0 comment Print

Seeks to exempt goods, falling under the First Schedule to the Customs Tariff Act, 1975, when imported into India by or along with a unit of the Army, the Navy, the Air Force or the Central Paramilitary Forces on the occasion of its return to India after a tour of service abroad, from basic customs duty (BCD), CVD and SAD subject to the specified conditions.

MVAT: Change in Rate of VAT on Motor Spirit wef 22.04.2017

April 21, 2017 2478 Views 0 comment Print

Rate of VAT in Maharashtra on Any other kind of Motor Spirit (a) When delivered, (i) to a retail trader for trading from place of business situated within the geographical limits of the Municipal Corporations of the Brihan Mumbai, Thane, Navi Mumbai and within such other areas for such period as may be notified by the State Government in the Official Gazette;

Govt notifies securities in which Trust Money can be invested

April 21, 2017 20391 Views 1 comment Print

Central Government hereby specifies the following securities for the purposes of the section 20 of the Indian Trusts Act, 1882 (a) Government securities; (b) securities, the principal whereof and the interest whereon is fully and unconditionally guaranteed by the Central Government or any State Government;

Custom Duty Exemption on supply under Patient Assistance Programme

April 20, 2017 3393 Views 0 comment Print

Notification No. 16/2017-Customs Seeks to exempt goods falling under chapter 30 of first schedule of Customs tariff Act 1975, for supply under Patient Assistance Programme run by specified pharmaceutical companies

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