Corporate Updates – 18-01-2017

PCS Helpline – Technical Issues Relating To E-Filing

NIRC of ICSI has decided to start fortnightly "PCS HELPLINE" to provide guidance / counseling in respect of problems and difficulties being faced by our members. In this series, NIRC is organizing "PCS HELPLINE” program tomorrow, the 18th January, 2017, to resolve the queries over telephone regarding Technical / Procedural / Interpretation issues relating to the topic “Technical Issues Relating To E-Filing” by CS S Bhasker, Principal Consultant, MCA21 Project of MCA, Infosys LTD, will be available to answer the queries telephonically, on 18th January, 2017 from 3.00 PM to 4.30 PM at 011-49343001.


The Goods and Services Tax (GST) Council on Monday broke a deadlock over issues of administrative control over assessees and broadly agreed to roll out the GST from July 1, instead of the earlier deadline of April 1. Whether a state or the Centre will assess an entity would be decided by a computer programme. The Council also resolved a logjam over the right to tax economic activities within 12 nautical miles from India’s coasts. The Centre agreed the states would have the powers to administer 90 per cent of assessees with an annual turnover of up to Rs 1.5 crore. The Centre will have the powers to audit, send notices and scrutinize the remaining 10 per cent. However, if there is a dispute between states over the place of supply, the Centre will have the power to administer those assessees. In all situations, the Centre will retain the power to collect this tax.


The Director General of Foreign Trade has amended the Handbook of Procedure w.r.t the Modification/ change of Branch Office/Head Office/Registered Office address in its IEC and which involves a shift in its jurisdictional RA. Accordingly, a request to that effect will have to be made to RA concerned under whose jurisdiction the applicant exists. On the basis of this request, the RA (custodian of the IEC file till now) will process such requests and amend IEC, if found appropriate, under intimation to the RA under whose jurisdiction the applicant wants transfer. The new RA shall allow the person in its new address to carry out necessary functions and also apply for eligible benefits as per FTP. Further, applicants are required to pay fees of 500/- (Rupees five hundred only)for IEC application. If the application is rejected, applicant shall be able to rectify the grounds on which previous application was rejected, without any further fees.

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