Corporate Updates 21 April 2014


RBI makes amendment in the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 and it has now been decided that Limited Liability Partnership (LLP) formed and registered under the Limited Liability Partnership Act, 2008 shall be eligible to accept Foreign Direct Investment (FDI) from a person resident outside India or an entity incorporated outside India, subject to the conditions given in Annexure – I. The instructions issued in this circular shall be effective retrospectively from May 20, 2011. However, reporting requirement of FDI in LLP shall come into force from the date of issue of instructions by the Reserve Bank in this regard. The LLP which have received foreign investment in terms of FIPB approval between May 20, 2011 to the date of this circular shall comply with the reporting requirement in respect of FDI within 30 or 60 days, as applicable, from the date of the notification. To download & view the notification, please Click Here.


Service Tax Return (ST-3) for Oct ’13 to March’14 period is now available for e-filing by the assessees in both offline and online version. The last date for filing the returns for the said period is 25th April, 2014. All assessees can file return online or use the offline utility by downloading the latest version from or from ‘DOWNLOADS’ Section of ACES website. For details on how to e-file in ACES or any further information/assistance, you may visit or contact your jurisdictional Service Tax Officer. Please file your returns in ACES well in advance to avoid rush and inconvenience at the last moment.