Archive for June, 2010

PUBLIC NOTICE NO. 76 /2009-2014, NEW DELHI DATED THE 29th June, 2010. In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy 2009-2014, the Director General of Foreign Trade hereby makes the following amendments in Appendix 4C (List of Agencies Authorised to Issue Certificates of Origin - Non Preferential) of the Handbook of Procedures (Vol.I): Full Article

G.S.R. 565 (E). – In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944) and section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the CENVAT Credit Rules, 2004, namely:- Full Article

In exercise of powers conferred under section 37B of the Central Excise Act, 1944 Central Board of Excise & Customs considers it necessary, for the purposes of uniformity with respect to classification of “Polyester Staple Fibre” manufactured out of PET scrap and waste bottles, to issue the following instructions. Full Article

Citizens across the 28 states will be able to avail of all government services, including payment of utility bills and applying for a driving licence, through common Internet portals being developed as part of a Rs 2,000-crore state portal project, senior government officials told. Full Article

The tax structure is designed in a manner that the Russian government retains most of the revenues generated for crude prices above $30 resulting in low revenue for Imperial Energy, which is ONGC Videsh Ltd's wholly-owned UK-based subsidiary. Full Article

From July 1 this year, no service tax will be levied on taxable service of commercial or industrial construction provided wholly within the airport. Similarly, the taxable service of commercial or industrial construction, when provided within the port or other ports for construction, repair, alteration and renovation of wharves, quays, docks, stages, jetties, piers and railways, will also not be levied a service tax from the beginning of July. Full Article

The Union finance ministry has agreed to states’ demand that tobacco be kept within the ambit of Goods and Services Tax (GST) and alcohol outside it. Besides GST, the Centre would levy an excise duty on tobacco. At present, states collect tax on alcohol, while the Centre levies duty on tobacco. Full Article

The cost of doing business in India could come down if the dividend distribution tax (DDT) levied on foreign shareholders is replaced with a withholding tax as under the current system, apex chamber Ficci has said. According to the chamber, foreign shareholders are unable to claim credit in the home country for DDT paid in India, resulting in a higher effective tax rate. Full Article