Tag Archives: dealer

Changes made in Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015: RBI

Attention of Authorised Dealers Banks is invited to the Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015, notified vide Notification No. FEMA 10(R)/2015-RB dated January 21, 2016, and A.P (DIR Series) Circular No. 51 … Continue reading

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Tax demand on Flipkart quashed: KerHC

In an important tax ruling, the Kerala High Court quashed the demand raised by a State tax authority against e-commerce company Flipkart and termed it as ‘arbitrary’. Kerala Sales tax authority issued notice to Flipkart that the company is liable … Continue reading

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Cochin Port Trust assessable to sales tax: SC

The Supreme Court of India ruled that Cochin Port trust is a ‘dealer’ and falls within such definition under Kerala General Sales Tax Act (“Act”) and is consequently assessable to tax under the Act. Comparing the definition of a ‘dealer’ … Continue reading

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Guarantee on Behalf of NRI Investments

Reserve Bank of India (RBI) has informed that in order to provide operational flexibility and ease the procedures, it has been decided to permit Authorised Dealer (AD) Category-I banks to issue bank guarantee, without prior approval of the RBI, on … Continue reading

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NRIs/Foreigners not allowed to carry Indian currency beyond India: RBI

Carrying of INR 10,000 by Non-residents and Residents : RBI Clarifies http://goo.gl/4SDlAi  

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RBI Issues Clarifications Regarding Applicability of Revised Guidelines in Respect of Overseas Direct Investment (ODI)

Reserve Bank of India (RBI) has issued certain clarifications vide AP (DIR Series) Circular No. 30 dated September 04, 2013 with respect to the applicability of the revised guidelines in respect of Overseas Direct Investment (ODI) notified vide A.P. (DIR … Continue reading

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Selling dealer not guilty of ‘wilful omission’ in filing his sales tax return on the basis of the ST-1 Form furnished by purchasing dealer: DHC

The Delhi High Court ruled that the selling dealer (petitioner) is not guilty of ‘wilful omission’ in filing his sales tax return on the basis of the ST-1 Form which was duly furnished to him by the purchasing dealer in … Continue reading

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