News Update

CII projects 7.7% growth in current fiscalDRI nabs two persons with about 6 kg ivoryIBBI Chief calls for preserving reputation of fledgling institutionService Matter - Relief to Ashok Aggarwal - Disciplinary authority cannot approve initiation of enquiry by ignoring statements of witnesses and merely relying on gist of evidence forwarded by CBI: HCCCI invites public comments on merger of Linde & Praxaire-Way Bill for Intra-State movement of goods - State tally goes up to 27PM inaugurates Delhi-Meerut ExpresswayTax benefits to angel investors - CBDT inserts Clause (Viib) in Sec 56India generates 940 tonnes of plastic waste every day: Dr Harsh VardhanAnti-dumping duty imposed on ‘Saturated Fatty Alcohols' imported from Indonesia, Malaysia and ThailandGovt stipulates 8.5% interest rate on PFRule 11UA - Word 'or an accountant' omitted + Clause (viib) of Section 56(2) not to apply to consideration received by a Company for issue of shares that exceeds face value of such shares if received from an investorI-T - Taxable event arises as soon as interest income on bank deposits accrues & becomes due; Deferred receipts on instruction of depositor will not make it hypothetical income: HCFM is out of ICU; recovering fast after kidney transplantAnti-dumping duty on on'Ammonium Nitrate' - Notification 44/2017-Cus(ADD) amended to substitute name of exporter at sr. no.1 as 'Euro Chem Trading GMBH Through Rawfert Offshore Sal, Lebanon'Finance Commission team to visit Kerala on coming MondayWTO Chief calls for reducing trade tensionsNIC cloud-based data centre to go live in OrissaCBIC clarifies on application of IGST on goods supplied while deposited in Customs bonded warehousePublic comments sought on Draft NDCP till June 1, 2018PM lays foundation stone for Patratu Super Power ProjectI-T - It is not open for AO to make additions while framing assessment u/s 143(3) merely on basis of seized documents beyond period of limitation u/s 153A: ITATIndia to rope in international labs for food testingISC Panel finalises recommendations of Punchhi CommissionCBIC introduces monetary limits of Rs.2.50 lakhs for filing Revenue appeals before Commissioner(A); applicable to CX & ST legacy cases and those currently pending.Govt sanctions out of turn coal to PSUs; Private plants find themselves at receiving endACC appoints JS, TRU, Alok Shukla as Minister (Customs) in PMI to WTO at GenevaACC grants one more year extension to CBDT Chairman Sushil ChandraThere is no provision in the CGSTAct which allows exemption on an Input Service if the Output service provided by taxable service is exempt: AARServices provided to M/s Karnataka Power Transmission Corporation Ltd. – since it is company registered under the Companies Act, 1956, and not a State Government authority, benefit of concessional rate @12% not available: AARServices provided of diagnosis, pre and post counseling therapy qualify to be health care services and attract Nil rate of Tax: AARTransaction of transfer of one of the units of the applicant as a going concern amounts to supply of service – Nil rate under 12/2017-CT(R): AAR
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Permitted Currencies and Methods of Payment
Foreign Exchange Transactions with Public
Annexure II: Guidelines for hedging of commodity price exposures
Annexure I: CBDT circular and form of undertaking/certificate
Authorised Dealers' Dealing with Reserve Bank
Accounts of Non-resident Banks and Inter-bank Dealings
Annexure: Guidelines for foreign exchange exposure limits of
Exports of Goods, Software, Currency etc.
Annexure : List of Exports Promotion Councils and Other Grantee
Import of Goods, Currency, etc., Merchanting Trade and other
Annexure : Guidelines for Handling Import Bills - Operating
Foreign Travel and Miscellaneous Remittance
Annexure V : Guidelines to authorised dealers for scrutiny of
Annexure IV : Guidelines for granting remittance facilities
Annexure III : Guidelines for acceptance of passage fare/freight
Annexure II : Use of International Credit Cards
Annexure I : Guidelines for release of exchange for travel abroad
Investments/Offices Abroad
Annexure III : Terms and Conditions for investment in JV/WOS
Annexure II : Guidelines to Authorised Dealers for approval
Annexure I : Guidelines for Indian Direct Investment in Joint
Foreign Investment in India (Part 1 of 2)
Foreign Investment in India (Part 2 of 2)
Foreign/FERA Companies and Foreign Nationals
Bank Accounts and other Assets Overseas of Residents
Annexure : Scheme for issue of ADR/GDR Linked Stock Option for
Rupee Accounts of Non-residents other than Banks
Foreign Currency Accounts in India
Annexure II : Resident Foreign Currency Accounts Scheme
Annexure I : List of additional purposes for which funds in
Returns and Statements
Annexure I : Guide to Authorised Dealers for Compilation of
Supplement on 'Exchange Control Regulations applicable to Nepal