"04 December 2009" Archive

CIT Versus Baba Saheb Kedar Ginning and Pressing Cooperative Society Ltd. (Supreme Court)

CIT, Nagpur Vs Baba Saheb Kedar Ginning and Pressing Cooperative Society Ltd. (Supreme Court of India)

Whether the rate prescribed by the Agreement between the assessee(s) and the Federation(s) is a composite charge, as submitted by the assessee(s), or whether the said rate is exclusively for ginning and pressing de hors the godown rent...

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Notification No. 26/2009- Central Excise; dated: 04.12.2009

Notification No. 26/2009-Central Excise (04/12/2009)

Amends principal notification No. 6/2006-Central Excise, dated the 1st March, 2006. - Seeks to provide concessional rate of Central Excise duty on specified goods of Chapter 84-98....

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Regarding safeguard duty on Caustic Soda lye

Notification No. 131/2009-Customs (04/12/2009)

Nothing contained in this notification shall apply to imports of Caustic Soda lye from countries notified as developing countries under clause (a) of sub-section (6) of section 8B of the said Act, other than the People's Republic of China, Indonesia, Qatar, Saudi Arabia and Thailand. ...

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Public Notice No. 23/2009-2014, Dated: 04.12.2009

Public Notice No. 23/2009-2014 (04/12/2009)

In case of revalidation of advance authorization issued prior to 27.8.2009, it should be ensured that value addition is maintained at 15% (and as per details mentioned in para 4.1.6 of FTP) or as stipulated in the advance authorization, whichever is higher....

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Public Notice No. 22/2009-2014, Dated: 04.12.2009

Public Notice No. 22/2009-2014 (04/12/2009)

In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy 2009-2014, the Director General of Foreign Trade hereby makes the following amendment in Handbook of Procedures Vol.I 2009-2014....

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Radio broadcasters expressed concerns over the proposed move to introduce Section 33A in the Copyright Act

RADIO broadcasters have expressed concerns over the proposed move to introduce Section 33A in the Copyright Act which would give unfair powers to the music societies to fix tariff and could potentially derail the radio industry already reeling under massive losses....

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Posted Under: Income Tax |

Absence of tax free climate affected inflows of foreign investment in the shipping sector

Absence of tax-free climate has affected inflows of foreign investment in the shipping sector, reducing its competitiveness, the government informed Rajya Sabha. “The Indian flag suffers from certain barriers in terms of tax and duty structures which may have impeded the growth of foreign direct investment (FDI),” shipping minister GK...

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Posted Under: Income Tax |

In an effort to maximize revenue CBEC ordered to reopen cases where Tax demand stayed

Directions form part of revenue maximisation measures. The Central Board of Excise and Customs (CBEC) has directed its field formations across the country to open all cases, irrespective of year and amount involved, where it had raised a demand but had these stayed by courts, otherwise known as call-book cases. ...

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Posted Under: Income Tax |

Proposal for Mandatory PF to workers with a salary of up to Rs 15,000 a month instead of Rs 6,500 at present

Employers may soon be required to make mandatory provident fund contributions to workers with a salary of up to Rs 15,000 a month instead of Rs 6,500 at present. Union labour minister Mallikarjun Kharge is likely to ratify a proposal to this effect on Saturday, when he presides over a meeting of the Employees' Provident Organisation's Cen...

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Posted Under: Income Tax |

SEBI decided to compute limitation period for arbitration from the end of the quarter during which the disputed transaction was executed

In a move to help investors by giving them more time to file arbitration applications, the Securities and Exchange Board of India (SEBI) on Wednesday decided to compute the limitation period for arbitration from the end of the quarter during which the disputed transaction was executed. So far, the period was computed from the day the tran...

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Posted Under: Income Tax |
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