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Archive: September, 2005

Posts in September, 2005

Rate of exchange of conversion for imported goods w.e.f. 1st October 2005

September 27, 2005 250 Views 0 comment Print

In exercise of the powers conferred by sub-clause (i) of clause (a) of sub-section (3) of section 14 of Customs Act, 1962 (52 of 1962) and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.72/2005-NT-Customs, dated the 26th August, 2005 [S.O.1195 (E) dated the 26th August, 2005], the Board hereby determines for the purposes of said section, relating to imported goods, that the rate of exchange of conversion of each of the foreign currency specified in column (2) of each of Schedule I and Schedule II appended hereto into Indian currency or vice versa shall, with effect from the 1st October, 2005.

Anti-dumping duty on Rubber Chemicals namely, MBT

September 27, 2005 745 Views 0 comment Print

Whereas in the matter of import of Rubber Chemicals namely, MBT (2-Mercapto Benzothiazole, also known in trade as Accelerator M), CBS (N-cyclohexyl-2-benzothiazole sulphenamide, also known in trade as Accelerator CZ or Accelerator HBS ) and MBTS(Dibenzothiazole disulphide, also known in trade as Accelerator DM ), falling under the heading or sub heading No. 2925 20, or 2934 20 or 3812 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), originating in, or exported from, the People’s Republic of China, the designated authority in its final findings, vide notification No.14/9/2004 – DGAD dated the 6th July, 2005.

National Advisory Committee on Accounting Standards to advise Central Government

September 27, 2005 451 Views 0 comment Print

S. 0. 1433(E).—In exercise of the powers conferred by sub-section (1) of section 210A of the Companies Act, 1956 (1 of 1956), the Central Government hereby constitutes an Advisory Committee to be called the National Advisory Conunittee on Accounting Standards, consisting of the following persons to advise the Central Government on the formulation and laying down of accounting policies and accounting standards for adoption by companies or class of companies under the said Act

SEBI : Investment in ADRs/GDRs/foreign securities by Mutual Funds

September 26, 2005 217 Views 0 comment Print

These guidelines are issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with the provisions of Regulation 77 of SEBI (Mutual Funds) Regulations, 1996 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

Notification further amends All Industry Rates of Duty Drawback, 2005-06

September 26, 2005 409 Views 0 comment Print

(a) in CHAPTER 28, against tariff item 2817001002, for the entry in column 2, the entry Zinc Oxide -IP/BP/USP Grade shall be substituted; (b) in CHAPTER 33, against tariff item 33074100, for the entry in column 2, the entry Perfumed Agarbatti/Incence sticks/Dhoop/Loban shall be substituted

Notification No.207/2005 – Income Tax Dated 26/9/2005

September 26, 2005 222 Views 0 comment Print

Notification No.207/2005 – Income Tax S.O. 1392(E) – In exercise of the powers conferred by sub-section (1) and sub-section (2) of section 120 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), Central Board of Direct Taxes, number S.O. 732(E) dated the 3rd July, 2001, namely

Reg. Permission to buy goods from duty free shops

September 26, 2005 418 Views 0 comment Print

It has been decided to allow Indian Nationals undertaking visit abroad to buy from duty free shops at International Airports at India in Indian Rupees goods worth Rupees 5000/-(Five thousand only) per passenger per visit subject to following safeguard,-

Notification No. 205/2005 ,Dated : 23.09.2005

September 23, 2005 319 Views 0 comment Print

this notification will not apply in relation to any income being profits and gains of business, unless the business is incidental to the attainment of the objectives of the assessee and separate books of account are maintained in respect of such business

Notification No.206/2005 – Income Tax Dated 23/9/2005

September 23, 2005 261 Views 0 comment Print

Notification No.206/2005 – Income Tax In exercise of powers conferred by the sub-clause (v ) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the “Shri Jain Swetamber Nakoda Parsavanath Tirth, Mewanagar, District Barmer, Rajasthan” for the purpose of the said sub-clause for the assessment year 2002-2003 to 2004-2005 subject to the following conditions, namely

Notification No.204/2005 – Income Tax Dated 23/9/2005

September 23, 2005 264 Views 0 comment Print

Notification No.204/2005 – Income Tax In the notification of the Government of India, Ministry of Finance (Department of Revenue) number S.O. 718(E), dated the 25th May, 2005, published in the Gazette of India, Extraordinary, Part – II, section 3, sub-section (ii) dated 25th May, 2005, in page 23, in line 8 for “2004-2005” read “2005-2006

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