The above notification is liable to be rescinded by the Central Government, if it is subsequently found that the activities of the institution are not genuine or if they are not carried out in accordance with all or any of the conditions subject to which it was notified.
Service tax is leviable on ‘asset management and all other forms of fund management’ under the category of ‘banking and other financial service’. In this context a question has arisen as to whether the service tax would be chargeable on the ‘entry and exit load’ amount charged by a mutual fund to the investor.
Notification No. 169 – Income Tax In exercise of the powers conferred by section 295 of the Income Tax Act, 1961 (43 of 1961) (hereinafter referred to as the Act), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely
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.
The principal notification was published in the Gazette of India, Extraordinary, vide number G.S.R. 118(E), dated the 1st March, 2002 and was last amended by notification No.61/2007-Customs, dated the 3rd May, 2007 which was published in the Gazette of India, Extraordinary vide number G.S.R.324(E), dated the 3rd May, 2007.
(E). In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944) and section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the CENVAT Credit Rules, 2004, namely.
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) read with sections 91 and 94 of the Finance (No.2) Act, 2004 (23 of 2004), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby rescinds the notification of the Government of India, in the Ministry of Finance.
The principal notification No. 28/2007-Customs was published in the Gazette of India, Extraordinary, vide number G.S.R. 125(E), dated the 1st March, 2007.
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby rescinds the notification of the Government of India in the Ministry of Finance.
[TO BE PUBLISHED IN THE GAZZETE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Amends notification No.12/2005-Service Tax, dated the 19th April, 2005 New Delhi, the Date: 12th May, 2007 22 Vaisakha, 1929 (Saka) Notification No. 22/2007 – Service Tax G.S.R. (E). In exercise of the […]
