G.S.R.99(E). – In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), read with sub-section (3) of section 3 of the Additional Duties of Excise (Goods of Special Importance) Act, 1957 (58 of 1957), the Central Government, being satisfied that it is necessary in the Public interest so to do, hereby rescinds the following notifications of the Government of India, in the Ministry of Finance
The anti-dumping duty imposed under this notification shall be levied with effect from the date of imposition of the provisional anti-dumping duty, i.e. the 21st August, 2006, and shall be paid in Indian currency. For the purposes of this notification, “rate of exchange” applicable for the purposes of calculation of anti-dumping duty shall be the rate which is specified in the notification of the Government of India in the Ministry of Finance.
In exercise of powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with paragraph 2.1 of the Foreign Trade Policy – 2004-09, the Central Government hereby amends Schedule – I (Imports) of the ITC(HS) Classifications of Export and Import Items, 2004-09.
In exercise of powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (No.22 of 1992) read with Para 1.3 and Para 2.1 of the Foreign Trade Policy, 2004-2009 (as amended from time to time), the Central Government hereby makes following amendment in the Paragraph 3 of Notification No.15(RE-2006)/2004-2009 dated 27.06.2006.
In exercise of powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act,1992 (No.22 of 1992) read with paragraph 1.3 of the Foreign Trade Policy, 2004-2009,(as amended from time to time), the Central Government hereby makes the following amendment in Foreign Trade Policy, 2004-2009.
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 against entries at Sl.Nos. 20(a), 20(b), 21(a) and 21(b) in Chapter 2 of Schedule 2 of ITC(HS) Classifications of Export and Import items, 2004-2009 as amended from time to time.
Recently, the Supreme Court has rendered a landmark judgement, dated 4.1.2007, in the case of Ishikawajima-Harima Heavy Industries Ltd. Vs. DIT [2007] 288 ITR 408 (S.C.): 207 CTR 361(S.C.). This judgement has thrown new light in respect of the expression ‘Income deemed to accrue or arise in India’, as contemplated under section 9 of the Income-Tax Act, 1961 (the Act).
Of late, it has been observed that with the growth of the economy of the country the number of transactions of the tax-payers in India with non-residents have been increasing. Such transactions may relate to supply of plant and machinery from abroad, technology transfers, provision of technical and consultancy services by non-residents, etc.
Notification No. 54 – Income Tax Whereas the Central Government in exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-1A of the Income-tax Act, 1961(43 of 1961)(hereinafter referred to as; the said Act), has framed and notified a scheme for Industrial Park, by the notifications of the Government of India in the Ministry of Commerce and Industry (Department of Industrial Policy and
Notification No.53 – Income Tax Whereas the Central Government in exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961(43 of 1961 (hereinafter referred to as the said Act), has framed and notified a scheme for industrial park, by the notifications of the Government of India in the Ministry of Commerce and Industry (Department of Industrial Policy and
