Corporate Law Reporter - The Daily Journal

India Post Launches Logistics Post Air Service

India Post has started Logistics Post Air Service in Association with Air India on identified sectors amongst 15 linking airports, Agartala, Delhi, Mumbai, Kolkata, Nagpur, Bangalore, Hyderabad, Chennai, Pune, Ahmedabad, Imphal, Guwahati, Patna, Lucknow & Trivandrum (Thiruvananthapuram). The main features of this service include. (i) First Category: Airport. Customer to deposit the consignment at the postal facility available at the airport… Read More

India™s Foreign Trade Report – May, 2013

EXPORTS (including re-exports) Exports during May, 2013 were valued at US $ 24505.66 million (Rs. 134807.62 crore) which was 1.11 per cent lower in Dollar terms (0.13 per cent lower in Rupee terms) than the level of US $ 24779.72 million (Rs. 134983.82 crore) during May, 2012. Cumulative value of exports for the period April-May 2013 -14 was… Read More

Review of Prudential Guidelines on Restructuring of Advances by Financial Institutions (FIs)

RBI/2012-13/534 DBOD.FID.FIC.No.5/01.02.00 /2012-13 June 17, 2013 The CEOs of All-India Term-Lending and Refinancing Institutions (Exim Bank, NABARD, NHB and SIDBI) Dear Sir, Review of Prudential Guidelines on Restructuring of Advances by Financial Institutions (FIs) In continuation of our letter DBOD.FID.FIC.No.6/01.02.00/2010-11 dated October 14, 2010 on the captioned subject, please find enclosed circular DBOD.BP.BC.No.99/ 21.04.132/2012-13 dated May 30, 2013 and… Read More

RBI Publishes Mid-Quarter Monetary Policy Review: June 2013

Monetary and Liquidity Measures On the basis of an assessment of the current macroeconomic situation, it has been decided to: keep the cash reserve ratio (CRR) of scheduled banks unchanged at 4.0 per cent of their net demand and time liabilities; and keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at… Read More

United Nations Practical Manual on Transfer Pricing

The United Nations has recently released a publication namely Practical Manual on Transfer Pricing. The Manual is said to contain valuable discussions on a large number of important topics related to the subject of Transfer pricing. There is a detailed discussion on the different types of transfer methods available for calculation of transfer price, such… Read More

High Court Explains Tax Implications Of Foreign Co’s Liaison Office In India

Ratio of the Case: According to Section 5 & 9 of the Income Tax Act, 1962, the income towards products sourced by overseas buyers, for products manufactured in India - is not attributable to the Liaison Office set up to arrange the sourcing. This is the the case, even if fee for this service rendered is received from… Read More

Format for seeking clarifications on the FDI policy issues

(Bharat Sarkar) Ministry of Commerce & Industry (Vanijya our Udyog Mantralay) Department of Industrial Policy & Promotion (Audyogik Neeti Aur Samvardhan Vibhag) Dated the May10, 2013 NOTICE Subject: Format for seeking clarifications on the FDI policy issues This Department has been receiving a large number of requests from various stakeholders seeking clarifications on the provisions of FDI policy. It is noted that many of the requests for clarification do… Read More

Central Excise Notification – Amendments with respect to FT Policy – substitutions and insertions

[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. 21 / 2013-Central Excise New Delhi, dated the 13th June, 2013 G.S.R. 372(E).- In exercise of the powers conferred by sub-section (1) of section 5A of theCentral Excise Act, 1944 (1 of 1944),… Read More

Service tax amendment notification in relation to Foreign Trade Policy – substitutions

[TO BE PUBLISED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB SECTION (i)] Government of India Ministry of Finance (Department of Revenue) Notification No. 11 / 2013 - Service Tax New Delhi, the 13th June, 2013 G.S.R. 373(E).- In exercise of the powers conferred by sub-section (1) of section 93 of theFinance Act, 1994 (32 of… Read More

Customs Tariff Notification

[TO BE PUBLISHED IN PART-II, SECTION-3, SUB-SECTION (ii) OF THE GAZETTE OF INDIA, EXTRAORDINARY] Government of India Ministry of Finance (Department of Revenue) (Central Board of Excise and Customs) NOTIFICATION NO. 62/2013-CUSTOMS (N.T) Dated : June 14, 2013 In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the… Read More

Customs notification – Amendments in notification No. 93/2009 – substitutions and insertions

[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. 32 / 2013-Customs New Delhi, the 13th June, 2013 G.S.R. 371(E).- In exercise of the powers conferred by sub-section (1) of section 25 of theCustoms Act, 1962 (52 of 1962), the Central Government,… Read More

UK and India to work together on Evidence-Informed Healthcare Policy and Practice

UK and India to work together on Evidence-Informed Healthcare Policy and Practice : Department of Health Research signs agreement with National Institute for Health and Care Excellence, UK. Dr V M Katoch, Secretary, Department of Health Research, Ministry of Health & Family Welfare, Govt of India signed an MOU with Sir Andrew Dillon, Chief Executive of… Read More

SEBI (Issue and Listing of Non-Convertible Redeemable Preference Shares) Regulations, 2013, notified

SEBI (Issue and Listing of Non-Convertible Redeemable Preference Shares) Regulations, 2013 have been notified on June 12, 2013 and are available on the website: www.sebi.gov.in. The said Regulations provide for a comprehensive regulatory framework for public issuance of non-convertible redeemable preference shares and also for listing of privately placed redeemable preference shares. Further, as per Basel III… Read More