CBDT : TDS on Payment of Gas Transportation Charges by the purchaser of Natural Gas to the seller of the Gas
SECTION 194C OF THE INCOME-TAX ACT, 1961 - DEDUCTION OF TAX AT SOURCE - PAYMENTS TO CONTRACTORS & SUB-CONTRACTORS - DEDUCTION OF TAX AT SOURCE ON PAYMENT OF GAS TRANSPORTATION CHARGES BY THE PURCHASER OF NATURAL GAS TO THE SELLER OF GAS CIRCULAR NO. 9/2012 [F. NO. 275/11/2012-IT(B)], DATED 17-10-2012 Representations have been received from… Read More
CBEC – Extends the due date of filing of Service tax Return from 25th Oct to 25th Nov
F.No.137/99/2011-Service Tax Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs New Delhi, the 15th October, 2012 ORDER NO: 3/2012 In exercise of the powers conferred by sub-rule(4) of rule 7 of the Service Tax Rules, 1994, the Central Board of Excise & Customs hereby extends the date of… Read More
CBEC-Regarding extension of the notification benefit to DVD ROMs along the lines of CD ROMs under Notification no. 12/2012-Central Excise, dated the 17th March, 2012
GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) New Delhi, the 11th October, 2012 Notification No. 37/2012-Central Excise G.S.R. 760(E).- In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, being satisfied that it is necessary in the public interest so… Read More
MCA XBRL Filings enabled from 14th Oct, 2012
Final version of the MCA XBRL Validation Tool (for Financial Statements based upon new Schedule VI of the Companies Act, 1956) has been released. XBRL filings of financial statements for accounting year commencing on or after 01.04.2011 have been enabled on MCA website with effect from 14.10.2012. Stakeholders are also advised to refer to the… Read More
National Electronic Funds Transfer (NEFT) Requirement of Indian Financial System Code (IFSC) in transactions
RBI/2012-13/244 DPSS (CO) EPPD No. 622/04.03.01/2012-13 October 12, 2012 The Chairman and Managing Director / Chief Executive Officer of member banks participating in NEFT Madam / Dear Sir, National Electronic Funds Transfer (NEFT) Requirement of Indian Financial System Code (IFSC) in transactions NEFT system provides for an efficient, affordable, safe mode of funds transfer in… Read More
RBI-Uploading of Reports on FINnet Gateway
RBI/2012-13/243 DBOD. AML.BC.No.49/14.01.001/2012-13 October 11, 2012 The Chairmen/CEOs of all Scheduled Commercial Banks (Excluding RRBs)/ Local Area Banks / All India Financial Institutions Dear Sir Uploading of Reports on FINnet Gateway Please refer to our circular DBOD.AML.BC.No.39/14.01.001/2012-13 dated September 7, 2012 advising all banks/AIFIs to initiate submission of reports on the FINnet Gateway in ˜TEST MODE™ from… Read More
Foreign investment in NBFC Sector – Amendment to the Foreign Direct Investment (FDI) Scheme
RBI/2012-13/241 A. P. (DIR Series) Circular No. 41 October 10, 2012 To All Category-I Authorised Dealer Banks Madam / Sir, Foreign investment in NBFC Sector - Amendment to the Foreign Direct Investment (FDI) Scheme Attention of Authorised Dealer Category I (AD Category-I) banks is invited to Schedule 1 to Foreign Exchange Management (Transfer or Issue… Read More
CBEC-Rate of exchange of conversion of each of the foreign currency with effect from 10th October, 2012
GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF EXCISE AND CUSTOMS) Notification No.93/2012 - Customs (N.T.) Dated the 9th October, 2012 17 Asvina, 1934 (SAKA) S. O¦. (E). In exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs hereby… Read More
External Commercial Borrowings (ECB) Policy Review of all-in-cost ceiling
RBI/2012-13/240 A.P. (DIR Series) Circular No. 40 October 09, 2012 To All Category-I Authorised Dealer Banks Madam / Sir, External Commercial Borrowings (ECB) Policy Review of all-in-cost ceiling Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 99 dated March 30, 2012 relating to ECB. 2. It has been decided… Read More
Supreme Court latest ruling on prosecution for second or successive dishonour of cheque
The Supreme Court has overruled its own judgment regarding the law on bounced cheques. It overruled the 1998 decision in Sadanandan Bhadran™s case and now ruled that prosecution based upon second or successive dishonour of the cheque is also permissible. In this case, the payee did not issue notice to the drawer when the cheques… Read More
CBEC-Seeks to levy safeguard duty on import of Carbon Black From China
Ministry of Finance (Department of Revenue) Notification NO. 4 / 2012-Customs (SG) New Delhi, dated the 5th October, 2012 G.S.R. (E). Whereas, in the matter of import of Carbon Black (for rubber application) (hereinafter referred to as the subject goods), falling under tariff item 2803 00 10 of the First Schedule to the Customs Tariff Act,… Read More
CBEC-All Industry Rates of Duty Drawback 2012-13
Circular No. 27 / 2012-Customs F. No. 609/110/2012-DBK Government of India Ministry of Finance, (Department of Revenue) Central Board of Excise & Customs New Delhi, dated 5th October, 2012 To All Chief Commissioners of Customs/Customs (Prev.) All Chief Commissioners of Central Excise/Customs & Central Excise All Director Generals under CBEC All Commissioners of Customs/Customs (Prev) All… Read More
CBEC-Determines the rates of drawback in supersession of the Notification No. 68/2011-Customs (N.T.), dated 22nd September, 2011
GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) New Delhi, dated the 4th October, 2012 Notification No. 92 / 2012 - Customs (N.T.) G.S.R. 742 (E). In exercise of the powers conferred by sub-section (2) of section 75 of the Customs Act, 1962 (52 of 1962), sub-section (2) of section 37 of the Central… Read More
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