In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Indirect Taxes and Customs No.63/2018-CUSTOMS (N.T.), dated  19th July, 2018 except as respects things done or omitted to be done before such supersession, the Central Board of Indirect Taxes and  Customs hereby determines that ...

            The Income-tax Department (ITD) takes appropriate action against black money which is an on-going process.  Such action under the Direct Tax laws includes searches, surveys, enquiries, assessment of income, levy of penalties and filing of prosecution complaints before criminal courts, wherever applicable. Moreover, recognizing the limitations of the Income-tax Act, 1961 etc. in dealing with black money stashed abroad, the ...

As per Reserve Bank of India (RBI) guidelines, banks are to have a loan recover policy, prepared and duly vetted by their boards. A number of mechanisms are available to banks to effect recovery, such as filing of a suit in Civil courts or in Debts Recovery Tribunals and action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security ...

As per the World Economic Situation and Prospects 2018 report of the United Nations, the Indian economy is projected to grow at 7.2 per cent in 2018-19 and 7.4 per cent in 2019-20. The report indicates that the outlook for India remains largely positive, underpinned by robust private consumption and public investment as well as ongoing structural reforms.Share of public ...

As per Budget 2017-18 and 2018-19, the Revised Estimates for Capital Outlay on Infrastructure Sector for the years 2016-17 and 2017-18 are Rs 3,58,634 crore and Rs 4,94,313 crore respectively, while Budget Estimate for the year 2018-19 is Rs 5,97,143 crore. Details of Foreign Direct Investment (FDI) inflows, country-wise, during the last three years (from April 01, 2014 to January ...

Financial Assistance Policy for Shipyards  The Minister of State for Shipping Shri Pon Radhakrishnan informed in a written reply to a question in Lok Sabha today that the  Government has introduced a Rs.4000 Crores Financial Assistance Policy (FAP) for Indian shipyards for a period of 10 years, for contracts secured between 01.04.2016 and 31.03.2026. Under this scheme financial assistance equal ...

In its 25th Meeting held on 18th January, 2018, the GST Council had recommended several measures granting relief from GST on a number of goods and services. One of the important reliefs granted by the Council is to enhance the limit of contribution made by members of a Resident Welfare Association (RWA) for the purpose of exemption from GST.The Council had recommended that ...

​ In its  Meeting held on 18th January, 2018, the GST Council had recommended reduction of GST rate on services by way of admission to Amusement Parks including theme parks, water parks, joy rides, merry-go-rounds, go-carting and ballet from 28% to 18%. These services hitherto attracted GST @ 28%. Requests were received from several quarters that amusement parks promote social wellness and beget fun ...

In its Meeting held on 18th January, 2018, the GST Council has recommended that for the purpose of GST exemption, the threshold price limit of Admission Ticket for circus, dance,theatrical performances including drama or dance, award functions, pageants, concerts, musical performances, and recognized sporting events may be increased from Rs. 250 per person to Rs.500 per person. The Council has further recommended that ...

The Government of India has announced the Sale (re-issue) of (i) “Government of India Floating Rate Bonds 2024” for a notified amount of Rs.3000 crore (nominal) through price based auction, and (ii)“7.17 per cent Government Stock, 2028” for a notified amount of Rs.8,000 crore (nominal) through price based auction. Subject to the limit of Rs.11,000 crore,being total notified amount,GoI will have the option to retain additional subscription ...