Customs Duty for consumer electronics under project imports should be reduced to 0%, says FICCI
FICCI in its pre-budget memorandum has given the following recommendations for the consumer electronics industry. The following suggestions are for consideration: 1.Customs Duty on Panels for LCD & LED TVs should be brought down to 0% and end user condition should be waived off. 2.Import Duty on Set Top Box - increase the Customs Duty… Read More
Section 65(105)(zm) of the Finance Act, 1994 Banking and Other Financial Services Service tax on Commitment charges collected by Banks
1.The C & A G of India has pointed out that Banks are recovering Commitment charges for keeping available the undisbursed balance of a loan commitment and they are in the nature of charges for services provided. In this regard attention is invited to the letter F. No. 345/6/2008-TRU, dated 11.6.2008 (Annexure) wherein it has… Read More
Section 80-IA of the Income-tax Act, 1961 – Deductions – Profits and gains from industrial infrastructure undertakings, etc. – Notified undertakings
NOTIFICATION NO. 10/2012 [F.NO. 178/7/2011-ITA-I], DATED 21-2-2012 WHEREAS the Central Government in exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961 (43 of 1961) (hereinafter referred to as the said Act), has framed and notified a scheme for industrial park, by the notifications of the… Read More
Exemption to specified persons from requirement of furnishing a return of income under section 139(1) for AY 2012-13
NOTIFICATION NO. 9/2012 [F. No.225/283/2011-ITA(II)], dated 17-2-2012 S.O........... (E). - In exercise of the powers conferred by sub-section (IC) of section 139 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby exempts the following class of persons, subject to the conditions specified hereinafter, from the requirement of furnishing a return of income… Read More
Amendments to the Combination Regulations Relief to Corporate entities by making process of filings simpler
The provisions of the Competition Act, 2002 (Act) relating to regulation of combinations and the Competition Commission of India (Procedure in regard to thetransaction of business relating to combination) Regulation, 2011 (CombinationRegulations) have been in force with effect from 1st June, 2011. The Competition Commission of India, after gaining experience of implementation of the Combination Regulations for… Read More
Operationalisation of provisions of Para 5.11.2 of Hand Book of Procedure Vol.-1
Government of India Ministry of Commerce and Industry Department of Commerce (Directorate General of Foreign Trade) [ISO 9001:2008 Certified Organisation] Udyog Bhawan, H-Wing, Gate No. 2, Maulana Azad Road, New Delhi-110011 Tel. (EPBAX No.): 011-23061562 Fax No: 011-2306 2225 Web Site: http://dgft.gov.in E-mail: dgft@nic.in ***** Policy Circular No. 53 (RE-2010)/2009-14 To, All Regional Authorities/All Customs Authorities/FIEO/EEPCS/All Concerned … Read More
Import of spares for the existing machinery procured indigenously under EPCG Scheme
Government of India Ministry of Commerce and Industry Department of Commerce (Directorate General of Foreign Trade) [ISO 9001:2008 Certified Organisation] Udyog Bhawan, H-Wing, Gate No. 2, Maulana Azad Road, New Delhi-110011 Tel. (EPBAX No.): 011-23061562 Fax No: 011-2306 2225 Web Site: http://dgft.gov.in E-mail: dgft@nic.in ***** Policy Circular No. 54 (RE-2010)/2009-14 To, All Regional Offices of DGFT… Read More
Aadhaar-Enabled E-payment system to be implemented in more areas- Fin Min
The Union Finance Minister Shri Pranab Mukherjee said that Aadhaar-Enabled E-payment system would help not only in ensuring the timely payments directly to the intended beneficiaries but would also help in reducing the time taken, transaction costs and the leakages among others. The Finance Minister said that this would also help in bringing transparency in… Read More
Permission for export of non-basmati rice through Land Custom Stations (LCS) on Indo-Bangladesh and Indo-Nepal border
Government of India Ministry of Commerce & Industry Department of Commerce Udyog Bhawan Notification No. 98 (RE-2010)/2009-2014 New Delhi, the 23rd February, 2012 Subject:- Permission for export of non-basmati rice through Land Custom Stations (LCS) on Indo-Bangladesh and Indo-Nepal border. S.O.(E) In exercise of the powers conferred by Section 5 of the Foreign Trade (Development &… Read More
ermission for export of wheat through Land Custom Stations (LCS) on Indo-Bangladesh and Indo-Nepal border
Government of India Ministry of Commerce & Industry Department of Commerce Udyog Bhawan Notification No. 99 (RE-2010)/2009-2014 New Delhi, the 23rd February, 2012 Subject:- Permission for export of wheat through Land Custom Stations (LCS) on Indo-Bangladesh and Indo-Nepal border. S.O.(E) In exercise of the powers conferred by Section 5 of the Foreign Trade (Development & Regulation)… Read More
CBEC-Courier Imports and Exports (Electronic Declaration and Processing) Regulations, 2010
Circular No. 05 / 2012 - Customs F.No.450/122/2010-Cus-IV Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs Room No. 229-A, North Block, New Delhi, dated 23rd February, 2012. To, All Chief Commissioners of Customs / Customs (Prev). All Chief Commissioners of Customs & Central Excise. All Commissioners of Customs /… Read More
SEBI-Standardized lot size for SME Exchange / Platform
CIRCULAR CIR/ MRD / DSA /06/2012 February 21, 2012 To Managing Director / Chief Executive Officer of Stock Exchanges and their Clearing Houses/Corporations Dear Sir/Madam, Sub: Standardized lot size for SME Exchange / Platform 1. SEBI vide circular dated May 18, 2010 prescribed the framework for setting up of a stock exchange/trading platform by a recognized… Read More
SEBI-Offer For Sale of Shares by Promoters through the Stock Exchange Mechanism
CIRCULAR CIR/MRD/DP/ 7/2012 February 23, 2012 The Managing Director and CEO The Managing Director Bombay Stock Exchange Limited National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers Exchange Plaza, Bandra Kurla Complex Dalal Street Bandra (E) Mumbai - 400001 Mumbai - 400 051 Dear Sir, Sub: Offer For Sale of Shares by Promoters through the… Read More
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