Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
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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