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After the guidelines issued by RBI on 11th July 2022 in relation to settlement of international trade in Indian Rupees, Industry was expecting the relief from central government in the norms of export promotion schemes. Now Central Government comes with amendments in foreign trade policy 2015-20 to allow the rupees settlement of international trade for export promotion schemes. The changes have comes to permit export...
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Sometimes, a person obtains GST registration in a state where corporate office is situated. There may be situation that he gets the assignment in another state. Specifically in construction industry it is generally happens that a person is registered in another state, and he receives a construction contract in a different state. Thus, question may arise whether such person is required to obtain GST registration...
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The Central Board of Direct Taxes on 27th October, 2022 issued Circular No. 21/2022 in F.No.275/25/2022-IT(B) to extend the deadline for filing quarterly TDS statement in Form 26Q for the June quarter by a month till November 30. Form 26Q is used for quarterly filing of TDS returns on payments other than salary. “Considering the difficulties in filing of TDS statement in the revised and...
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DGFT on 12th October 2022 issued public notice no. 30/2015-20 to Amend the SION Policy of various ‘Chemical and Allied Product’ (Product Code ‘A’) As an effect of the public notice SIONs A254, A257, A282, A1939, A1973, A2061, A2331, A2539, A2818, A3056, A3486 in regards to ‘Chemical and Allied Product’ suspended with the immediate effect
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The Director General of Foreign Trade (DGFT) issued notification no. 39/2015-2020 dated 14.10.2022 to amend the earlier notification no. 30/2015-20 dated 27.08.2022 and amended the policy related to export of items under HS Code 1101 with description Wheat or Meslin flour (Atta), Maida, Samolina Rava Whole meal atta and resultant atta. Earlier the export of the items covered were ‘Prohibited’ however new policy condition added...
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