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Excise Duty- Service Export from India Scheme (SEIS) under FTP 2015-2020

April 8, 2015 1515 Views 0 comment Print

Notification No. 21/2015-Central Excise Dated- 8th April, 2015 Central Government exempts goods specified in First Schedule and Second Schedule to Central Excise Tariff Act, 1985, when cleared against a Service Exports from India Scheme duty credit scrip

Excise- Merchandise Export from India Scheme (MEIS) under FTP 2015-2020

April 8, 2015 2675 Views 0 comment Print

Notification No. 20/2015-Central Excise Dated- 8th April, 2015 Govt. exempts goods specified in First Schedule and Second Schedule to Central Excise Tariff Act, 1985 , when cleared against a duty credit scrip issued by the Regional Authority under Merchandise Exports from India Scheme

ST-Service Export from India Scheme (SEIS) under FTP 2015-2020

April 8, 2015 3411 Views 0 comment Print

Notification No. 11/2015 – Service Tax Dated- 8th April, 2015 Central Government exempts taxable services provided or agreed to be provided against a scrip by a person located in the taxable territory from whole of the service tax leviable thereon under section 66B of the said Act.

ST- Merchandise Export from India Scheme (MEIS) under FTP 2015-2020

April 8, 2015 4351 Views 1 comment Print

Notification No. 10/2015 – Service Tax Dated- 8th April, 2015 Central Government exempts taxable services provided or agreed to be provided against a Merchandise Exports from India Scheme duty credit scrip (MEIS) by a person located in the taxable territory from the whole of the service tax leviable thereon

Export Policy of Onions – reduction in MEP to US$ 250 per Metric Ton

April 7, 2015 490 Views 0 comment Print

NOTIFICATION NO. 2/2015-2020, Dated: April 7, 2015 Export of all varieties of onions as described above will be subject to a Minimum Export Price (MEP) of US$ 250 per MT (reduced from MEP of US$ 300 per MT earlier).

Refinancing of Exposures to Borrowers – Norms on Income Recognition, Asset Classification & Provisioning

April 6, 2015 1171 Views 0 comment Print

Further, in terms of the circular dated April 22, 2014, it was advised that utilisation of export advances, received on the strength of guarantees issued by Indian banks, for repayment of loans availed of from Indian banks (except in cases where banks have received

Projects Under Implementation – Change in Ownership- Provisioning norms pertaining to Advances

April 6, 2015 1911 Views 0 comment Print

We have been receiving representations from banks that, in the case of projects which have been stalled primarily due to inadequacies of the current promoters, a change in ownership/management may be required to revive the project. However, the new promoters/developers may require additional time to revive/complete the stalled projects.

DGFT notifies Foreign Trade Policy, 2015-2020

April 1, 2015 6563 Views 0 comment Print

Notification No.01/2015-2020 Dated April 1, 2015 Central Government hereby notifies the Foreign Trade Policy, 2015-2020. This Foreign Trade Policy shall come into force w.e.f. 01.04.2015.

RBI Circular on Provisioning pertaining to Fraud Accounts

April 1, 2015 2511 Views 0 comment Print

The entire amount due to the bank (irrespective of the quantum of security held against such assets), or for which the bank is liable (including in case of deposit accounts), is to be provided for over a period not exceeding four quarters commencing with the quarter in which the fraud has been detected;

Notification No. 19/2015 – Central Excise Dated- 1st April, 2015

April 1, 2015 1571 Views 0 comment Print

Provided further that the said scrip has not been issued in violation of the condition contained in the sub-paragraph (5) of paragraph 2 of notification No. 101 of 2009 – Customs, dated the 11th September, 2009 or sub-paragraph (4) of paragraph 2 of notification No. 102 of 2009 – Customs, dated the 11th September, 2009 or the second proviso to sub-paragraph (1) of paragraph 2 of notification No. 05 of 2013 – Customs, dated the 18th February, 2013 or sub- paragraph (3) of paragraph 2 of notification No. 22 of 2013 – Customs, dated the 18th April, 2013 or first proviso to sub-paragraph

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