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Archive: January, 2007

Posts in January, 2007

Advance ruling on service tax issue sought – Application rejected as applicant does not qualify to do so as per Sec 96A(C) and 96C(2) of the Finance Act, 1994

January 8, 2007 504 Views 0 comment Print

M/s MACK INSURANCE AUXILIARY SERVICES (P) LTD- Advance Ruling – The application is rejected as not maintainable since the applicant do not fall in the category of organisation who can seek advance ruling in terms of Section 96A(C) and 96C(2) of the Finance Act. 1994.

Continuation of anti-dumping duty on Trimethoprim (TMP)

January 8, 2007 496 Views 0 comment Print

Now, therefore, in exercise of the powers conferred by sub-sections (1) and (5) of section 9A of the said Act and in pursuance of rule 23 of the said Rules, the Central Government hereby makes the following amendment in the notification of the Government of India, in the erstwhile Ministry of Finance and Company Affairs (Department of Revenue), No. 89/2002 -Customs, dated the 3rd September, 2002, published in the Official Gazette vide number G.S.R.615 (E), namely.

SEBI : (Foreign Institutional Investors) Amendment) Regulations, 2007

January 8, 2007 376 Views 0 comment Print

a Foreign Institutional Investor or a sub-account, shall, subject to such instructions as may be issued by the Board, deliver or cause to be delivered only securities in dematerialized form for settlement its transactions undertaken on a recognised stock exchange,

Amendments to in Notification No. 26/2000-Customs, dated 1st March, 2000

January 5, 2007 3289 Views 0 comment Print

(a) goods mentioned in List 2 and 3 and in Notifications No. 60/2000-Customs, dated the 12th May, 2000 and 2/2007-Customs dated the 5th January, 2007

Notification No. 2/2007-Customs, Dated 05.01.2007

January 5, 2007 6046 Views 0 comment Print

The importer proves to the satisfaction of the Deputy Commissioner of Customs or the Assistant Commissioner of Customs, as the case may be, that the goods in respect of which the benefit of this exemption is claimed are of the origin of Democratic Socialist Republic of Sri Lanka in accordance with the Customs Tariff (Determination of Origin under the Free Trade Agreement between the Democratic Socialist Republic of Sri Lanka and the Republic of India) Rules, 2000 published in the notification of Government of India in the Ministry of Finance (Department of Revenue), No. 19/2000-Customs (N.T.), dated the 1st March,2000.

Notification No. 1/2007- Income Tax Dated 4/1/2007

January 4, 2007 517 Views 0 comment Print

Notification No.1- Income Tax S.O.10(E).–In exercise of the powers conferred by sub-clause (vii) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies Tax Free Municipal Bonds for an amount of rupees one hundred and twenty eight crores only to be issued by Nagpur Municipal Corporation during the financial year 2006-07 for the purpose of said sub-clause

SEBI : Investment in ADRs/GDRs/Foreign Securities and overseas ETFs by Mutual Funds

January 4, 2007 361 Views 0 comment Print

Pursuant to the enhancement in overseas investment limits by RBI, it has now been decided that mutual funds can invest in ADRs/GDRs/Foreign Securities within overall limit

Clarification of term ‘Software’ for purpose of eligibility of notification no. 153/93-Customs dated 13.08.1993 as amended-reg

January 3, 2007 685 Views 0 comment Print

Wide publicity may please be given to the clarification by way of issuance of Public Notice. Difficulties, if any, in implementation of this clarification, may be brought to the notice of the Directorate General of Export Promotion, New Delhi.

SEBI : Notification repealing the Securities and Exchange Board of India (Central Listing Authority) Regulations, 2003

January 3, 2007 412 Views 0 comment Print

all persons appointed as President or Vice-President or Members of the Central Listing Authority and holding office immediately before such repeal shall vacate their office upon such repeal;

Circular No. 90/1/2007-Service Tax dated 03.01.2007

January 3, 2007 1019 Views 0 comment Print

A question has arisen regarding the applicability of service tax levy on roaming service provided to an international in-bound roamer, i.e., subscriber of a foreign telecom network, when in India, by an Indian telecom service provider. The telecom operators are of the view that in-bound roamer is not a subscriber as no telephone connection is provided to him and such roamer does not undergo the processes of registering as subscriber like entering into contract with the visiting network, furnishing of identity, etc

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