Legal Updates - Corporate Law Reporter

Customs Notification issued adding Philippines as A Country Covered under India and ASEAN PTA

CLR Note: The Department of Revenue, Ministry of Finance had issued Customs Notification No. 40/2011 Customs (N. T.) dated 24th June, 2011 notifying amendments in the Customs Tariff [Determination of Origin of Goods under the Preferential Trade Agreement between the Governments of Member States of the Association of Southeast Asian Nations (ASEAN) and the Republic… Read More

Notification No.52/2011-Customs

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No.52/2011-Customs G. S. R. (E). - In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes… Read More

Philippines added to India and ASEAN- Preferential Trade Agreement

The Department of Revenue, Ministry of Finance had issued Customs Notification No. 40/2011 Customs (N. T.) dated 24th June, 2011 notifying amendments in the Customs Tariff [Determination of Origin of Goods under the Preferential Trade Agreement between the Governments of Member States of the Association of Southeast Asian Nations (ASEAN) and the Republic of India]… Read More

Service Tax on Processing for or on behalf of client, in relation to agriculture

Circular No. 143/12/ 2011 ST F.No.332/37/2010-TRU Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs Tax Research Unit North Block, New Delhi 26th May, 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… Read More

Independent Accident Investigation Committee set-up for Air Accidents

The Ministry of Civil Aviation has set up an Independent Accident Investigation Committee on 26.5.2011 to ensure independent, fair and transparent investigation of accidents. This Committee will work under oversight of Ministry of Civil Aviation. The Committee will have following functions and responsibilities:- i) Draw up a… Read More

Labour Minster assures transparency in the Management of EPFO Corpus

The 194th meeting of the Central Board of Trustees, EPF, which was the eleventh regular meeting of the present Board, was convened last week. The Board deliberated upon a proposal for further extension of the selection process of the new fund managers for a period of two months effective from 01.07.2011. The Board also stipulated… Read More

For Equipment Royalty u/s 9(1)(vi), control of equipment by payer essential

Yahoo India Pvt Ltd vs. DCIT (ITAT Mumbai) The assessee, an Indian company, remitted Rs. 34 lakhs to Yahoo Holdings (Hong Kong) Ltd, a Hong Kong company, forplacing banner advertisements on the web portal of Yahoo Hong Kong. The AO & CIT (A) took the view that the payment was for the use or right… Read More

India and Singapore signed a protocol amending DTAA

The Government of India signed a Protocol, amending Double Taxation Avoidance Agreement (DTAA) with Government of Singapore for effective exchange of information in tax matters today. The Protocol was signed by Shri Prakash Chandra, Chairman, Central Board of Direct Taxes (CBDT) on behalf of the Government of India and Ms. Karen Anne Tan Ping Ming,… Read More

Advocate™s Training Scheme to be launched on the 27th June, 2011

Government of India has evolved a Scheme named Rajiv Gandhi Adhivakta Prashikshan Yojna (Rajiv Gandhi Advocate™s Training Scheme) to be launched on 27 June, 2011. The Scheme envisages selection of 10 young practicing Advocates from each State every year for being imparted professional training. This initiative is in sync with the Supreme Court directive in… Read More

Anti dumping duty levied on Sewing Machine Needles import from China

Title: Notification No. 50/2011-Customs CLR Note: Anti dumping duty levied on Sewing Machine Needles import from China. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) G.S.R. 473(E). Whereas, in the matter of import of the Sewing Machine Needles (hereinafter referred to as subject goods), falling under sub-heading 8452.30 of chapter 84 of the First Schedule to… Read More

MCA initiates to drive clear the pendency of e-forms filed with ROC

Circular no 40/2011; GOI; MCA All Regional Directors; All Registrar of Companies; The Stakeholders Subject: Special Drive to clear pendency of e-forms filed with Registrar of Companies prior to implementation of revised Regulation 17 of the Companies Regulation, 1956 It is noticed that a large number of e-forms filed by the companies with the ROCs… Read More

Requirement of import permit for import of substances listed in the Insecticide Act, 1968

Title: Board Instruction F.No.401/101/2011-Cus.lll- Custom Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs All Commissioners of Customs & Central Excise (Appeals). Subject: Requirement of import permit / registration with / from CIB & RC for import of substances listed in the schedule 3 of the Insecticide Act, 1968, for… Read More

Circular regarding Issue of Custom House Agent (CHA) License

Circular Number 25/2011 - Custom F.No.502/4/2011-Cus.VI Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs North Block, Room No. 253-A, Subject: Issue of Custom House Agent License Reference from field formations regarding. Attention is invited to provisions of the Custom House Agents Licensing Regulations (CHALR), 2004 and various circulars and… Read More