GST Rate Change for Corrugated Box, Mono Cartons, Calendars, Commercial Printed material

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Notification No 8/2021 – Central Tax (Rate) Released to Public on 30-9-2021

Effective from 1-October-2021

GST on most of the Packaging Products Changed to 18%

GST Rate change is applicable from today – 1-Oct-2021

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[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

(Department of Revenue)

Notification No. 8/2021-Central Tax (Rate)

New Delhi, the 30^th September, 2021

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G.S.R. ……(E).- In exercise of the powers conferred by sub-section (1) of section 9 and sub-section (5) of section 15 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.1/2017-Central Tax (Rate), dated the 28^th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 673(E)., dated the 28^th June, 2017, namely:-

In the said notification, –

(c)

SOP for CA Certificates

Dear MLG Patron, we at MLG believe in being a part of your extended Team. We are there to make your Business Better, in some aspects. Wherever we can be of help to you, we are delighted.

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Many a times you need to submit some CA Certificates. Example : Pollution Department, HUDA, Banks, FEMA, RBI, Shareholders Certification, Directors List, Net Worth Certificate, Fixed Asset value certificate, International TDS 115CA – 115CB,

Dear Team,
Work is being started for GSTR-1 data in next 2 days.

Please do your internal checkup of Debit note, Credit note, E invoice, IRN number for last month, if required.

Thank you,
MLG Team

TDS Deposit Working

Dear Team,
Work is being started for TDS Calculations data in next 2 days.

Please do your internal checkup of 100% Purchase bills received ?
100% Rent entries ? 100% TDS worthy Entries ?
if any bill passing is pending at any table,
pls expedite

Thank you,
MLG Team

Foreigner in India Creating a Private Limited in India | Setting up Pvt Ltd in India

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Case study

Foreign National : Citizen of USA : say Mr Simon Philips

Suppose, Mr Simon is living in India, for a Job since 2010. In these 11 years , 2010 to 2021, he has accumulated a sum of Rs 50 lakhs in India, in his savings accounts and Fixed Deposits.

these are normal Indian Bank Accounts out of Normal Taxed Indian income

And now, in this case,

He is a “Resident” for Indian Income tax purposes

He is a “Resident” for Indian FEMA / RBI Purposes

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RBI FEMA Master Circular says…..

Eligibility for Investing in India

A person resident outside India (other than a citizen of Pakistan or Bangladesh) or an entity incorporated outside India, (other than an entity incorporated in Pakistan or Bangladesh) can invest in India, subject to the FDI Policy of the Government of India.

Erstwhile OCBs, who have converted themselves into companies incorporated outside India can make fresh investments in India under the FDI Scheme provided they are not under the adverse notice of RBI / SEBI.

Source :

https://www.rbi.org.in/scripts/BS_ViewMasterCirculars.aspx?Id=3630&Mode=0

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In our case, this person Mr Simon is “not” a resident outside India, and he is “not” bringing money from outside India,

 

He is a “Resident” for FEMA purposes and Money is also already in India

So, this is not a Foreign Investment at all

Hence, FDI Rules and FEMA are not applicable in this case at all

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Extracts from the Master Circular of the RBI for Foreign Investment in India

“Foreign Investment” in India is governed by the FDI policy announced by the Government of India and the provisions of the Foreign Exchange Management Act (FEMA) 1999. Reserve Bank of India has issued Notification No. FEMA 20/2000-RB dated May 3, 2000 which contains the Regulations in this regard. This notification has been amended from time to time.

Entry routes for investments in India

Foreign investment is freely permitted in almost all sectors. Foreign Direct Investments (FDI) can be made under two routes