Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
AMP expenditure for own business is not an international transaction without an associated-enterprise arrangement, eliminating transfer pricing adjust...
Customs valuation must use comparable contemporary imports, while confiscation fines and penalties require proportionate recalculation on reassessed v...
Depositor-protection proceedings prevail over corporate insolvency, while liquidators may recover chit receivables using copies of seized company reco...
Intermediary service classification fails where overseas admission facilitation is supplied independently, preserving export treatment and small-provi...
Satellite transponder bandwidth is telecommunication, not Business Support Service; foreign non-telegraph providers triggered no service tax liability...
Revised reporting formats for External Commercial Borrowing have been prescribed: Part V Annex I and Annex II of the Master Direction are substituted with revised Form ECB 1 and Form ECB 2 reflecting the amended ECB framework. The forms capture borrower and lender details, loan registration, receipt, utilisation, debt servicing, hedging and closure of LRN information; available ECB limit and end use, security and interest rate particulars are included. The directions implement the procedural reporting changes consequent to the Foreign Exchange Management (Borrowing and Lending) amendment and are issued under sections 10(4), 11(1) and 11(2) of FEMA, with immediate effect.
Revised reporting formats for External Commercial Borrowing have been prescribed: Part V Annex I and Annex II of the Master Direction are substituted with revised Form ECB 1 and Form ECB 2 reflecting the amended ECB framework. The forms capture borrower and lender details, loan registration, receipt, utilisation, debt servicing, hedging and closure of LRN information; available ECB limit and end use, security and interest rate particulars are included. The directions implement the procedural reporting changes consequent to the Foreign Exchange Management (Borrowing and Lending) amendment and are issued under sections 10(4), 11(1) and 11(2) of FEMA, with immediate effect.
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