RBI/FEMA- (Rupee Drawing Arrangement – Increase in trade related remittance limit)

No Comments Uncategorized

Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to Part (B) of Annex-I to the A.P. (DIR Series) Circular No. 28 [A. Calvin Klein Ropa Interior Mujer P. (FL/RL […]

A note on the ER-4, ER-5, ER-6, and ER-7 returns

No Comments Uncategorized

Introduction ER-4, ER-5, ER-6 and ER-7 returns are to be filed by the assessee in addition to the ER-1/ER-3 which is regularly filed by the assessee registered under the Central Excise. However ER-4,ER-5 and ER-6 […]

Guidelines for Issue of Commercial Paper

No Comments Uncategorized

1. Introduction Commercial Paper (CP) is an unsecured money market instrument issued in the form of a promissory note. CP, as a privately placed instrument, was introduced in India in 1990 with a view to […]

Service Tax Updates

No Comments Uncategorized

Reverse charge mechanism on Supply of Manpower Vis-à-vis Recruitment of Manpower Applicability of reverse charge mechanism: Supply of Manpower Vis-à-vis Recruitment of Manpower Prior to the introduction of negative list under Service tax, which came […]

Revised Guidelines for Concurrent Audit System in Commercial Banks

No Comments Uncategorized

Revised Guidelines for Concurrent Audit System in Commercial Banks RBI/2015-16/133 DBS.CO.ARS.No. BC. 2/08.91.021/2015-16 (A) Scope of concurrent audit Concurrent audit is an examination which is contemporaneous with the occurrence of transactions or is carried out […]

RBI And FEMA Interest Rate Futures (Reserve Bank) (Amendment) Directions, 2015

No Comments Uncategorized

Notification No. FMRD.DIRD.09 /ED(CS) – 2015 dated June 12, 2015 Interest Rate Futures (Reserve Bank) (Amendment) Directions, 2015 The Reserve Bank of India having considered it necessary in public interest and to regulate the financial […]

Direct Tax recent Judgments and Updates

No Comments Uncategorized

Cost Inflation Index for Financial Year 2014-15 notified – Capital Gain Section 48 [223 TAXMANN (st) 137] The Central Government vide Notification No. 31/2014, notified the Cost of Inflation Index as “1024” for the Financial […]

Indirect Taxes Recent Judgements

No Comments Uncategorized

CENTRAL EXCISE ACT SECTION 4 VALUATION UNDER CENTRAL EXCISE – TRANSACTION VALUE Clearances of ‘motor vehicles parts’ manufactured by job-worker for use in manufacture of ‘motor vehicles’ by principals, would be valued as per rule […]