In exercise of the powers conferred by section 37 read with sub-section (1) and (3) of section 23C and sub-section (7) of section 23D of the Central Excise Act, 1944 (1 of 1944), the Central Government hereby makes the following rules to further amend the Central Excise (Advance Rulings) Rules, 2002, namely.
The Principal notification was published in the Gazette of India, Extraordinary, vide Notification No.36/2001 – Customs (N.T.), dated, the 3rd August, 2001 (S.O.748 (E), dated, the 3rd August, 2001) and was last amended vide Notification No. 130/2006-Customs (N.T.), dated, the 1st December,2006 (S.O.2061(E) dated 1st December,2006).
Software exporters shall register themselves with Electronic and Software Export Promotion Council. Exporters of 13 specific services as listed in Sl No. 34 of Appendix-2 of Handbook of Procedure (Volume -I) are required to register themselves with the Services Export Promotion Council. Other service exporters shall register themselves with Federation of Indian Exporters Organisation.
Regarding issue whether an application for benefit under Export Promotion Schemes which is submitted after the last date of application can be considered under Para 9.3 of Hand Book of Procedure with late cut of 10% on entitlement, it is clarified that Para 9.3 is general in nature and this is applicable to all schemes unless and until it is stated otherwise in Policy/ Procedure.
Software exporters shall register themselves with Electronic and Software Export Promotion Council. An exclusive Services Export Promotion Council for has been set up to give proper direction, guidance and encouragement to selected Services Sector. Exporters of 13 specific services as listed in Sl No. 34 of Appendix-2 of Handbook of Procedure (Volume -I) are required to register themselves with the Services Export Promotion Council.
In exercise of the powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) read with Para 1.3 and Para 2.1 of the Foreign Trade Policy, 2004-2009, the Central Government hereby makes the following amendments in the ITC(HS) Classifications of Export and Import items.
JCIT Vs Mukund Limited (ITAT Mumbai) – The consideration of Rs.2.04 crores paid by the assessee company for obtaining the leasehold rights from MIDC in favour of the assessee for a period of 99 years is capital in nature and therefore, not allowable as deduction to the assessee.
Notification No. 130 – Income Tax Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O. 461(E) dated the 5th April, 2004, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 7, for Construction of home for mentally and
Notification No. 124 – Income Tax Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O. 224(E), dated the 16th March, 1994, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 3, for World Memorial Fund T.B. Project-Four mobile teams at
Notification No. 65 – Income Tax In exercise of the powers conferred by the clause (23EA ) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the “The Stock Exchange Investors’ Protection Fund, The Stock Exchange, Mumbai, 25th Floor, P.J. Towers, Dalal Street, Fort Mumbai-400023” as an Investor Protection Fund set-up by ‘The Stock Exchange, Mumbai
