Archive for April, 2010

PUBLIC NOTICE No. 52 / 2009-14.NEW DELHI: the 31st March, 2010.In exercise of the powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2009-14, the Director General of Foreign Trade hereby makes the following amendments in HBPv1, for benefits on exports made on or after 1.1.2010:1. The following shall be added in Appendix 37D, Table 6: Full Article

A number of representations have been received from the various Associations of marble manufacturers/processors for review of the regime governing import of marble. The matter has been considered carefully by the Government. The following Policy provisions will henceforth be applicable for import of Rough Marble Blocks for the financial year 2010-11. This Policy will supersede earlier Policy /Guidelines for issue of import licences of Rough Marble Blocks. Full Article

Rule 6 of the Cenvat Credit Rules, 2004 provided that the cenvat credit will not be admissible on the inputs or input services which are used in the manufacture of exempted goods or which are used in providing the exempted services. The Rule 6 ibid also said that if the common inputs are used for manufacture of dutiable and exempted goods and the manufacturer is not able to maintain separate inventory then he has to reverse the cenvat credit at specified rate. Full Article

A meeting of the Core Group constituted by the Ministry of Corporate Affairs for convergence of Indian Accounting Standards with International Financial Reporting Standards (IFRS) from the year 2011 was held on 29th March, 2010 under the chairmanship of Shri R. Bandyopadhyay, Secretary, Ministry of Corporate Affairs. The meeting was attended by the officials from Ministry of Finance, SEBI, RBI, IRDA, C&AG, PFRDA, ICAI, Industry representatives and other experts. Full Article