Extension of Warehousing facility for Exports at Tijara Tehsil of Alwar District, Rajasthan

Circular No. 949/10/2011-CX F.No.209/02/2011-CX.6(Pt.) Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs ****** New Delhi, The Dated 19th July, 2011 To, The Director General(All) The Chief Commissioner of Central Excise(All) The Commissioner of Central Excise(All)   Subject:-  Export warehousing Extension of facility at Tijara Tehsil of Alwar District in the state of Rajasthan - regarding. I am directed to refer to… Read More

Handling of Cargo in Customs Areas Regulations, 2009CBEC Clarification

Circular No. 29/2011 F.No.450/55/2008-Cus.IV (Pt.II) Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs ***** 229-A, North Block, New Delhi, 18th July, 2011. To, All Chief Commissioners of Customs / Customs (Prev.). All Chief Commissioners of Customs & Central Excise. All Commissioners of Customs / Customs (Prev.). All Commissioners of… Read More

Clarification on Completion of Services under Point of Taxation Rules

Circular No. 144/13/ 2011 ST F.No.354/93/2011-TRU Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs Tax Research Unit North Block, New Delhi 18th July, 2011 To Chief Commissioners of Central Excise and Service Tax (All), Director General (Service Tax), Director General (Central Excise Intelligence), Director General (Audit), Commissioners of Service… Read More

EXEMPTION FROM FILING OF INCOME-TAX RETURN : CBDT’s FAQs

What is the purpose of this notification and who are proposed to be exempted from the requirement of filing of the return? 1. The primary objective of this notification is to exempt those salaried taxpayers from the requirement of filing income-tax returns, who have (i) total income not exceeding Rs. 5,00,000, and (ii) the total income… Read More

Income tax celebrated its 150th anniversary on 15th July, 2011

The Concluding Ceremony for 150 years of Income Tax (IT) in India was celebrated on 15th July, 2011 at a solemn function graced by H.E. Smt. Pratibha Devi Singh Patil, President of India at Vigyan Bhawan, New Delhi. The first copy of a book titled 'A Celebration through Art- 150 Years of IT in India'… Read More

ERP Software Package Allowable As Revenue Expenditure

CIT vs. Raychem RPG Ltd (Bombay High Court) Brief Facts: The assessee, engaged in manufacturing of telecommunication and power cable accessories and trading in oil retracing system and other products, incurred expenditure of Rs. 23 lakhs on purchase of Enterprises Resources Planning (ERP) package. The AO treated the expenditure as capital in nature. The Tribunal applied the functional… Read More

CBDT directed to formulate uniform policy with strict parameters on appeal filing

CCE vs. Doaba Steel Rolling Mills (Supreme Court) A Central Excise appeal was allowed in favour of the assessee by the High Court inter alia on the ground that the department had not challenged similar orders passed by the Tribunal in cases of other assessees. On appeal by the department, HELD reversing the High Court (on… Read More

Reconstitution of Copyright Board

The Department of Higher Education, Ministry of Human Resource Development has reconstituted the Copyright Board, as per section 11 of the Copyright Act, 1957 by appointing Justice Ramesh Chandra Chopra (retired) as the Chairman of the Copyright Board for a period of five years or till further orders, whichever is earlier, with effect from the… Read More

Appointment of Sushil Modi on the panel for implementing GST

The Government of India has appointed Sushil Modi, a senior member of BJP as the head of the panel on implementing the Goods and Services Tax(GST) which aims to improve India's meandering tax regime. The GST regime is about to come in force on 1st April, 2012. The GST  is intended to bring uniformity in… Read More

Companies (Central Government’s) General Rules and Forms,1956- Amended

GOI; MCA; Notification dt. 14th July, 2011 G.S.R¦¦.(E).- In exercise of the powers conferred by clauses (a) and (b) of sub- section (1) of section 642 of the Companies Act, 1956 (1 of 1956) read with sections 20 and 21 of the Companies Act, 1956 and all other powers hereunto enabling the Central Government hereby… Read More

Amendment in Schedule XIII of the Companies Act, 1956

GOI; MCA; Notification dt. 14th July, 2011 G.S.R¦¦.(E).- In exercise of the powers conferred by the sub section (1)  of section 641 of the Companies Act, 1956, the Central Government hereby makes the following further amendments in Schedule XIII of  the Companies Act, 1956:- 1.   In G.S.R 396(E) dated 23rd May, 2011 in Para 1(i)… Read More

MCA-ICSI WEB SEMINAR ON XBRL

The ICSI is organizing MCA-ICSI WEB SEMINAR ON XBRL at ICSI Head Quarters, New Delhi on Wednesday, July 20, 2011 from 3.00 pm to 5.00 pm. The programme would be live webcast at the following URL,  http://www.streamonweb.com/ICSI from 3.00 pm onwards on Wednesday, July 20, 2011. This will be interactive programme in which senior representatives… Read More

RBI announces Auction of 56-day Cash Management Bills

Press Release : 2011-2012/91 The Reserve Bank of India has today announced the auction of 56-day Government of India Cash Management Bills for a notified amount of Rs. 8,000 crore. The auction will be conducted on July 18, 2011 using "Multiple Price Auction" method. The Cash Management Bills will be repaid at par on September… Read More

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