Foreign Trade Procedures 2015-20 (w.e.f. 05.12.2017)

DGFT notifies Foreign Trade Procedures 2015-20 (w.e.f. 05.12.2017). In pursuance of the provisions of paragraph 1.03 of Foreign Trade Policy (FTP), the Director General of Foreign Trade (DGFT) hereby notifies the procedure to be followed by an exporter or importer or by the licensing/Regional Authority or by any other authority for purpose of implementing the… Read More »

MEFICAI Draft Bank Branch Auditors Panel 2017-18

ICAI has processed the Empanelment Applications received from Members/ CA Firms and has prepared the draft Bank Branch Audit panel for the FY 2017-18, along with the category of the applicants. The Draft Panel is available upto 7 Dec. 2017 for any complaints/ rectifications, thereafter the panel will be finalised and sent to RBI. Draft Bank Branch… Read More »

Indian Advance Pricing Agreement regime moves forward with signing of two APAs by CBDT in November, 2017

The Central Board of Direct Taxes (CBDT) has entered into 2 Bilateral Advance Pricing Agreements (APAs) during the month of November, 2017. These Agreements are the first ever Bilateral APAs with The Netherlands. With the signing of these Agreements, the total number of APAs entered into by the CBDT has gone up to 186. This… Read More »

11 Latest GST FAQ

11 GST FAQs have been issued today as below: Question 1: Advance was given when the rate was 28% and our vendor has paid taxes on it. Subsequently rate has fallen to 18%. Will the invoice be raised at 18%? If yes, what to do of additional 10% paid as advance? Answer: Assuming supply happened… Read More »

Category: GST

ICAI Awards Nomination Date Extended and Revised Criteria

Last date of filling online nomination form for ICAI Awards has been extended to 11th December, 2017. Slight modification has been done in experience requirement related to following three categories – For CA Professional Achiever: Minimum 7 Years and Nominee should be working in the current organisation/ Group for atleast 3 years For CA CFO:… Read More »

Govt asks exporters to file Table 6A & GSTR 3B for processing of IGST refund

The Ministry of Finance has asked exporters to file Table 6A and GSTR 3B for processing of IGST refund and for refund of the unutilized input tax credit. It said, errors by exporters while filing their returns are the sole reason for delay in refunds or rejection thereof. The Ministry said, Government has taken various… Read More »

Category: GST

GST Refund Press Release

ON GST REFUND Exporters have been complaining about delay in grant of refunds pertaining to Integrated Goods and Services Tax (IGST) paid on goods exported out of India and similarly Input Tax credit (ITC) on exports. There are media reports with exaggerated estimations of refund amounts which are held up for the period July to… Read More »

11 Latest GST FAQs

11 latest GST FAQs has been issued as provided below: Questions 1. Sir I have started my firm under proprietorship but due to some reason I wanted to transfer my ownership but I could not due to new GST law it can not, kindly let me know what can be done ? Answer: You can transfer… Read More »

Category: GST