Business expenditure substantiation supports scrap credits, statutory payments and expense claims, while depreciation requires proof of actual busines...
Captive power transfer pricing and non-resident export commission rules support deletion of adjustments and withholding disallowance in discussed proc...
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The Reserve Bank of India (RBI) issued Circular, addressing Scheduled Commercial Banks, Primary (Urban) Cooperative Banks, State Cooperative Banks, and Exim Bank regarding the Interest Equalization Scheme (IES) on Pre and Post Shipment Rupee Export Credit. The circular extends the Scheme until June 30, 2024, with revised interest rates. Notably, the Scheme now offers 2% interest equalization for Manufacturers and Merchant Exporters and 3% for MSME manufacturers. However, certain modifications have been advised, including restrictions on banks with an average interest rate higher than Repo Rate + 4% and a cap on the subvention amount.
The Reserve Bank of India (RBI) issued Circular, addressing Scheduled Commercial Banks, Primary (Urban) Cooperative Banks, State Cooperative Banks, and Exim Bank regarding the Interest Equalization Scheme (IES) on Pre and Post Shipment Rupee Export Credit. The circular extends the Scheme until June 30, 2024, with revised interest rates. Notably, the Scheme now offers 2% interest equalization for Manufacturers and Merchant Exporters and 3% for MSME manufacturers. However, certain modifications have been advised, including restrictions on banks with an average interest rate higher than Repo Rate + 4% and a cap on the subvention amount.
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