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Interim Budget 2019 an Overview

The Finance Minister presented the Interim Union Budget 2019 1st Feb as the general elections are scheduled later this year. The Interim Union Budget 2019 aims to provide benefits to the middle-class taxpayers especially salary earners, pensioners, and senior citizens. Key tax and regulatory proposals of the Interim Union Budget…
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Ineligible categories under MEIS

Ineligible categories under MEIS i.Supplies made from DTA units to SEZ units. ii.Export of imported goods covered under paragraph 2.46 of FTP; iii.Exports through trans-shipment, meaning thereby exports that are originating in third country but trans-shipped through India; Deemed Exports; v.SEZ/EOU/EHTP/BPT/FTWZ products exported through DTA units; vi.Export products which are…
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Products not eligible for incentive under MEIS

Sl. No. Chapters Products under the following chapters are not eligible for incentive under MEIS 1 Chapter-01 Live animals 2 Chapter-02 Meat and edible meat offal 3 Chapter-10 Cereals 4 Chapter-24 Tobacco and manufactured tobacco substitutes 5 Chapter-25 Salt; sulphur; earths and stone; plastering materials, lime and cement 6 Chapter-26…
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Export Promotion Capital Goods (EPCG) scheme

Export Promotion Capital Goods (EPCG) scheme Export Promotion Capital Goods (EPCG) scheme allows import of capital goods including spares for pre production, production and post production at zero duty subject to an export obligation of 6 times of duty saved on capital goods imported under EPCG scheme, to be fulfilled in 6 years…
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Applicability of IND AS – Indian Accounting Standards

The Ministry of Corporate Affairs (MCA) has notified the Companies (Indian Accounting Standards (IND AS)) Rules 2015, which stipulates the adoption and applicability of IND AS in a phased manner beginning from the Accounting period 2016-17 and subsequently, issued Amendment Rules 2016 to amend the 2015 rules. Phase of adoption MCA…
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