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Seeks to increase the tariff rate on textile products in chapters 50 to 63

October 27, 2017 1212 Views 0 comment Print

WHEREAS the Central Government on being satisfied that the import duty leviable on goods, falling under chapters 50 to 63 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.

Export Policy of Animal By-Products- Procedure for export of Lanolin to European Union

October 25, 2017 1125 Views 0 comment Print

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

Permission to resident / non-resident entities to hedge transactions with simple Procedures

October 24, 2017 834 Views 0 comment Print

Notwithstanding anything contained in paras 4, 5, 5A and 5B, resident entities with foreign currency exposures and non- resident entities with rupee exposures, other than individuals, may hedge underlying exchange rate risk arising out of transactions permitted under Foreign Exchange Management Act, 1999

MGST: Late fee waiver on delayed filing of GSTR-3B for Aug & Sep 2017

October 24, 2017 1167 Views 0 comment Print

Government of Maharashtra, on the recommendations of the Council, hereby waives the late fee payable under section 47 of the said Act, for all the registered persons who failed to furnish the return in FORM-GSTR-3B for the month of August and September 2017 by the due date.

Constitution of Advance Ruling Authority under MGST Act

October 24, 2017 1569 Views 0 comment Print

overnment of Maharashtra hereby constitutes the Maharashtra Authority for Advance Ruling for the State of Maharashtra consisting of :— (1) Shri B. V. Borhade, Joint Commissioner of State Tax and (2) Shri Pankaj Kumar, Joint Commissioner of Central Tax.

Companies (Removal of Difficulties) Second Order, 2017

October 23, 2017 1959 Views 0 comment Print

In the Companies Act, 2013, in section 247, in sub-section (1), for the words a person having such qualifications and experience and registered as a valuer in such manner, on such terms and conditions as may be prescribed, the words a person having such qualifications and experience, registered as a valuer and being a member of an organisation recognised, in such manner, on such terms and conditions as may be prescribed shall be substituted.

PML (Maintenance of Records) Sixth Amendment Rules, 2017

October 23, 2017 3129 Views 0 comment Print

Provided also that in case the officially valid document presented by a foreign national does not contain the details of address, in such case the documents issued by the Government departments of foreign jurisdictions and letter issued by the Foreign Embassy or Mission in India shall be accepted as proof of address.

Govt delegates power related to valuation of assets by registered valuers to IBBI

October 23, 2017 1845 Views 0 comment Print

Central Government hereby delegates the powers and functions vested in it under section 247 of the said Act to the Insolvency and Bankruptcy Board of India, subject to the condition that the Central Government may revoke such delegation of powers or it may exercise the powers under the said section, if in its opinion such a course of action is necessary in the public interest.

MGST: 0.05% Tax Rate on intra-State supply of taxable goods for export

October 23, 2017 2517 Views 1 comment Print

Prescribe the State Tax rate of 0.05 percent for intra-state supply of taxable goods by a registered supplier to a registered recipient for export- Notification No. 40/2017-State Tax (Rate)

Addition of Krishnapatnam port for import of new vehicles

October 20, 2017 837 Views 0 comment Print

Krishnapatnam port is being added to the list of 14 existing ports/ICDs. thereby taking the total number of ports/ICDs to 15, for importing new vehicles.

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