Revised Valuation guidelines for Customs

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As notified by CBEC regarding the amendments in the Customs Valuation (Determination of Value of Imported Goods) Rules, 2007 (CVR 2007) vide Notification No 91/2017 –Customs (N.T.) dated 26 September 2017 along with Circular No 39/2017-Cus dated 26 September 2017 clarifying … Continued

TRAN-1 Date Finally Extended

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Central Government vides its Order No. 03/2017-GST dated 21st September 2017 have extended the time limit for submitting the declaration in Form GST Tran-1 from 30th September 2017 to 31st October 2017. To Read the official notification Click here

The Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry has issued the Consolidated FDI Policy, 2017

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The Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry has issued FDI CONSOLIDATED POLICY 2017, 2017, August 28, 2017, effective immediately, superseding all the earlier Press Notes/Press Releases/Clarifications/Circulars by DIPP effective earlier. Highlights of key changes … Continued

Direct Tax Dispute Resolution Scheme

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International Business Advisors (‘IBA’) is pleased to share with you an article on “ Direct Tax Dispute Resolution Scheme” which was proposed by our Finance Minister which was announced on February 29, 2016. The articles have been authored Neha Srivastava, … Continued

RBI update on FDI reporting

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As an update on online reporting of Foreign Direct Investment (FDI) with the Reserve Bank of India (RBI) under the Foreign Exchange Management Act, 1999, please find below the requisite details on the same. EXECUTIVE SUMMARY The Reserve Bank of … Continued

GST-Grow and Share Together

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The most important ‘Place of Supply Rules’ has been drafted and GST legislation to an extent has also been finalized. He was of the firm opinion that if political will exists, there is a good chance GST getting introduced from … Continued

No TDS on Service Tax Component

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The Income Tax Department vide circular 1 of 2014 has clarified that there should be no withholding tax on the Service tax component over the professional fees, provided the same is indicated separately in the invoice. “The Board has clarified … Continued