"May, 2008" Archive

Filing of appeals by Income-tax Department – Measures for reducing litigations

5 (15/05/2008)

The CBDT, as a measure to reduce litigation, revised the monetary limits for filing appeals by the Department before Income Tax Appellate Tribunals, High Courts and Supreme Court. Accordingly, appeals would henceforth be filed in the ITAT only if the tax effect exceeded Rs.2,00,000, in the high court only if the tax effect exceeded Rs.4,0...

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CST rate to be cut to 2% from June 1, 2008

After much bickering with states, the finance ministry today reduced the central sales tax (CST) rate on inter-state sales from 3 per cent to 2 per cent with effect from June 1.The ministry notified the rate-cut to the states despite differences on compensating them for losses of about Rs 13,000 crore in 2008-09 because of the cut. CST wa...

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Posted Under: Income Tax |

Notification No. 66/2008-Income Tax Dated 30/5/2008

Notification No. 66/2008-Income Tax (30/05/2008)

Notification No. 66-Income Tax In exercise of the powers conferred by clause (ii) of the third proviso to sub-section (9) of section 80-IB of the Income-tax Act, 1961 (43 of 1961) the Central Government hereby notifies the following undertakings, being mineral oil refinery projects, for the purposes of the said sub-section...

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Constitution of National Advisory Committee on Accounting Standards (NACAS)

Notification No. S.O. 1270(E) (30/05/2008)

- 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 Committee on Accounting Standards, consisting of the following persons to advise the Central Government on the formulation and l...

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Circular No. 871/09/2008-CX Dated 30/5/2008

Circular No. 871/09/2008-CX (30/05/2008)

I am directed to refer to Board's Circular No. 581/18/2001-CX dated 29th June, 2001 which inter alia, specifies conditions, procedures, class of exporters and places under sub-rule (2) of rule 20 of Central Excise Rules, 2002 for warehousing of excisable goods for the purpose of export. In paragraph 2(2) of the said Circular, the Board ha...

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Notification No. 65/2008-Customs Duty (N.T.), Dated 29th May, 2008

Notification No. 65/2008-Customs (N.T.) (29/05/2000)

for the purpose of adjudicating the matters relating to show cause notice pertaining to Shri Liu Kang Chuan (In Judicial Custody) and Others issued vide, F.No. DRI/BZU/C/INV-14/2006-07/5190-5195 dated the 5th July, 2007, by the Additional Director General, Directorate General of Revenue Intelligence, Mumbai Zonal Unit, Mumbai. ...

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Amend the Customs, Central Excise Duties and Service Tax Drawback Rules, 1995

Notification No. 64/2008-Customs (N.T.) (29/05/2008)

The principal rules were published vide notification No. 37/95-Customs (N.T.), dated the 26th May, 1995, published in the Gazette of India, Part II, Section 3, Sub-section (i), vide G.S.R.441(E), dated the 26th May, 1995, and was last amended vide notification No. 80/2006-Customs (N.T.), dated the 13th July, 2006 [G.S.R. 419 (E), dated ...

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Notification No. 63/2008-Customs Duty (N.T.), Dated 29th May, 2008

Notification No. 63/2008-Customs (N.T.) (29/05/2008)

For the purpose of adjudicating the matters relating to show cause notice pertaining to M/s Hardik Overseas Private Limited, Delhi/Bhiwadi (Rajsthan) and Others issued, vide, DRI. F.No. 23/9/2005-DZU, dated the 8th May, 2007, by the Additional Director General, Directorate General of Revenue Intelligence, Delhi Zonal Unit, B-4, 6th Floor...

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Notification No. 62/2008-Customs Duty (N.T.), dated 29-05-2008

Notification No. 62/2008-Customs (N.T.) (29/05/2008)

In exercise of the powers conferred by sub-section (1) of section 4 and sub-section (1) of section 5 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby appoints the Commissioner of Customs....

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Notification No. 61/2008-Customs Duty (N.T.), Dated 29th may, 2008

Notification No. 61/2008-Customs (N.T.) (29/05/2008)

for the purpose of adjudicating the matters relating to show cause notice pertaining to M/s Meenu Exim Pvt. Ltd., Block No. 160, Plot No. 18B to 18C, At/Po.-Pipodara, Ta-Mangrol, Dis-Surat issued, vide F.No. DRI/AZU/INV-06/2005/Meenu, dated the 16th June, 2006, F.No. DRI/AZU/INV-06/2005/Meenu, dated the 27th July, 2007, and F.No. DRI/AZU...

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