Archive for September, 2010

Union Finance Minister Shri Pranab Mukherjee released the first Budget Manual of the Union Government, here today. Releasing the Manual, the Finance Minister said that the Union Budget has evolved over the past six decades to reflect the strength of Full Article

Bank loans for financing promoters contribution RBI/2010-11/214, DBOD.No.BP.BC.42 /21.04.141/2010-11 , September 27, 2010 The Chairmen and Managing Directors/ Chief Executive Officers of  All Commercial Banks (excluding Regional Rural Banks) Dear Sir/Madam, Bank loans for financing promoters contribution In terms of para 8 of Master Circular No. DBOD.Dir.BC.90/13.07.05/98 dated August 28, 1998 on ‘Bank Finance against Shares and [...] Full Article

Infotech Software Dealers Association (hereinafter referred to as "the ISODA” or the “Petitioner”) is a society registered under the Societies Registration Act having its headquarters at Mumbai. Members of ISODA are engaged in the business of reselling of computer software products falling under 3 categories – (i) Shrink Wrap Software; (ii) Multiple User Software/Paper License and (iii) Internet Download. The ISODA filed the subject petitions under Article 226 o.. Full Article

M/s Azad Coach Builders Pvt. Ltd. (hereinafter referred to as “the Assessee”) has received an order to build bus bodies, by an Indian exporter (Tata Engineering Locomotive Co. Ltd.) in accordance with an export order placed on the Indian exporter by and specifications provided by the foreign buyer (Lanka Ashok Layland Ltd., Colombo). The Assessee manufactured the bus bodies, in accordance with the specifications stipulated by the foreign buyer and mounted the same on.. Full Article

Delhi and Mumbai are so 2009. The millionaires of Aurangabad want to be recognized for what they are - with the help of 115 Mercedes cars. A group of the city's industrialists have come together to give Mercedes its largest-ever collective order: 11 Full Article

Sticking to its claim that it does not have a tax liability, Vodafone today said it made no capital gains in the USD 11 billion (about Rs 50,000 crore) Hutchison buyout deal and would take necessary action to defend its position. Full Article

The Supreme Court will soon decide whether sales tax is to be levied on the incidental charges like transportation, packaging and labour incurred by Food Corporation of India (FCI) on purchase of foodgrains for the state machinery including contingen Full Article

(1) These rules may be called the CENVAT Credit (Fifth Amendment) Rules, 2010. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the CENVAT Credit Rules, 2004, in rule 2, in clause (a), after sub-clause (C), the following sub-clause shall be inserted, namely:- (D) components, spares and accessories of motor vehicles, dumpers or tippers, as the case may be, used to provide taxable services as specified in sub-clau.. Full Article