"October, 2009" Archive

Reserve Bank of India will soon issue guidelines on provisioning rules

The Reserve Bank of India will soon issue guidelines on meeting provisioning rules and some banks have sought time to meet them, its deputy governor Shyamala Gopinath said on Friday. "Banks have made certain submissions to us in the policy, in terms of little more time. We are going to come up with guidelines soon," Gopinath said....

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Posted Under: Fema / RBI | ,

Goods and Services Tax may not be applicable from April 1, 2010

The Finance Minister, Mr Pranab Mukherjee, on Friday hinted at some slippage to the scheduled Goods and Services Tax (GST) system rollout by April 1, 2010. Introduction of the GST, billed as a flagship tax reform measure of the UPA Government, is considered crucial for attracting increased doses of domestic and foreign investments....

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Posted Under: Fema / RBI |

RBI circular on Inoperative savings and current account

RBI/2009-10/ 202 DBOD.Leg. No.BC. 55 /09.07.005 /2009-10 (30/10/2009)

There may be instances where the customer has given a mandate for crediting the interest on Fixed Deposit account to the Savings Bank account and there are no other operations in the Savings Bank account. Some doubts have arisen whether such an account is to be treated as inoperative account after two years....

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Relaxation of the due date for the uploading of e-returns for the period ending September 2009

Trade Circular No. 29 T of 2009 (30/10/2009)

After the introduction of the e returns, the dealers were required to make the payment of tax within the prescribed date, but were permitted to upload the e returns within 10 days from the due date prescribed in the said Rule 17 (Please refer Trade Circular No 16T of 2008) Thus the dealers, who paid the tax within the due date and upload ...

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Notification No. 165/2009-Customs Duty (N.T.), dated 30-10-2009

Notification No. 165/2009-Customs (N.T.) (30/10/2009)

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 Joint Commissioner of Customs and Central Excise, Hyderabad-II to act as a common adjudicating authority to exercise the powers and discharg...

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Notification No. 164/2009-Customs Duty (N.T.), dated 30-10-2009

Notification No. 164/2009-Customs (N.T.) (30/10/2009)

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, Custom House, Navrangpura, Ahmedabad to act as a common adjudicating authority to exercise the powers and discharg...

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Notification No. 163/2009-Customs Duty (N.T.), dated 30-10-2009

Notification No. 163/2009-Customs (N.T.) (30/10/2009)

for the purpose of adjudicating the matters relating to Show Cause Notices pertaining to M/s. Vuppalamritha Magnetic Components Limited, 7013, Emerald House, S.D.Road, Secundrabad - 500 003 and others issued vide, F.No. VIII/26/34 & 35/2008-HRU, dated the 30th July, 2009, by the Additional Director General, Directorate of Revenue Intellig...

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Notification No. 162/2009-Customs Duty (N.T.), dated 30-10-2009

Notification No. 162/2009-Customs (N.T.) (30/10/2009)

(i) the Commissioner of Customs (Export Promotion), Ballard Estate, New Custom House, Mumbai; (ii) the Commissioner of Customs (Export), 60, Rajaji Salai, Custom House, Chennai; and (iii) the Commissioner of Customs, Central Revenue Building, The Mall, Amritsar,...

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Notification No. 161/2009-Customs Duty (N.T.), dated 30-10-2009

Notification No. 161/2009-Customs (N.T.) (30/10/2009)

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, Visakhapatnam to act as a common adjudicating authority to exercise the powers and discharge the duties conferred ...

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Amends Customs (Import of Goods at Concessional Rate of Duty for Manufacture of Excisable Goods) Rules,1996

Notification No. 160/2009-Customs (N.T.) (30/10/2009)

The principal rules were published vide Notification No.36/96-Customs (N.T.) dated 23rd July, 1996, [G.S.R. 305 (E), dated the 23rd July, 1996] and were last amended vide Notification No.12/2002-Customs (N.T.) dated the 1st March, 2002, G.S.R. (E), dated the 1st March, 2002....

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