Wednesday, 16 May 2018

Increased validity applicable to all Chapter 3 scrips irrespective of policy period, clarifies DGFT


DGFT issues clarification on the applicability of Public Notice No. 33 dated October 23, 2017 which increased validity of duty credit scrips issued under Chapter 3 of FTP on or after January 1, 2016; Accordingly, states that such extension of validity applies to all Chapter 3 scrips respective of the Policy period; Also informs that such scrip holders are not required to approach the Regional Authorities for any amendment in the validity period : DGFT Trade Notice 

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Delhi HC: No Deemed Gift Tax on Share Buy-Back at Discount

The Delhi High Court in the case of Globe Capital market has ruled that a company’s buy-back of its own shares cannot be taxed under Section...