Government has issued Notification No. 17/2008-ST dated 1-4-2008, extending refund of service tax paid by exporters on three more taxable services in addition to existing 13 taxable services, which are not in the nature of “input services” but could be related to exports. · Custom House Agent service [section 65(105)(h) of the Finance Act, 1994], · Banking and other financial services [section 65(105)(zm)] in relation to collection of export bills and export letters of credit, Commission agent service under business auxiliary service [section 65(105)(zzb) ] provided by a commission agent, located outside India subject to the conditions prescribed.
Based on experience gained and awareness generated, derivatives on Bond Index shall be considered for introduction in due course of time.
A replenishment authorization for duty free import of consumables, tools, machinery and equipments for Jewellery made out of precious metals (other than Gold & Platinum) equal to 2% and for Cut and Polished Diamonds and Jewellery made out of Gold and Platinum equal to 1% of FOB value of exports of the preceding year, may be issued on production of Chartered Accountant Certificate indicating the export performance. However, in case of Rhodium finished Silver jewellery, entitlement will be 3% of FOB value of exports of such jewellery.
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 Ministry of Finance (Department of Revenue),
Para 2 (VI)- Duty payment- As e-payment has been made mandatory for units paying duty of more than Rs. 50 lakh through PLA, this clause is deleted. Large Taxpayers should pay all taxes through e-payment mode only.
9. We have carefully considered the rival submissions and perused the record. Marginal heading of section 54 of the Act, which is relevant in this context, refers to “profit on sale of property used for residence”. Main section speaks of transfer of a capital asset- being building or lands appurtenant thereto and being a residential house – the income of which is chargeable under the head income from house property
communicate to SEBI, the status of the implementation of the provisions of this circular in the Monthly Development Report.
In the light of the representations received regarding similar exemption for investments in mutual funds, it has been decided to exempt investors residing in the state of Sikkim from the mandatory requirement of PAN for their investments in mutual funds also.
.In the Securities and Exchange Board of India (Venture Capital Funds) Regulations, 1996, in Second Schedule, in Part A, for the word and figure “Rs. 10,00,000”, the word and figure “Rs. 5,00,000” shall be substituted.
In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy 2004-09, the Director General of Foreign Trade hereby makes the following amendments in the Handbook of Procedures.
