"15 December 2009" Archive

Rescinds Notification No. 74/2009 – Customs Duty, dated 22-06-2009

Notification No. 141/2009-Customs (15/12/2009)

Notification No. 141/2009 - Customs In exercise of the powers conferred by sub-sections (1) and (2) of section 9A of the Customs Tariff Act, 1975 (51 of 1975), read with rules 13, 18 and 20 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995...

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Tenant given power to select own builder in case of redevelopment

An amendment in the Development Control Regulation 33 (9) pertaining to cluster redevelopment has given tenants of old, cessed buildings in the island city the right to select their own builder. However, the ultimate power to sanction such schemes still rests with the landlords as without their consent no redevelopment can take place....

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Posted Under: Custom Duty |

Sales Tax Has Precedence Over Bank Mortgage

M/s Orissa State Financial Corporation Vs Commnr. of Commericial Taxes & Ors (Supreme Court of India)

Despite valiant attempt on the part of learned counsel for the appellant to convince us that in view of some observations in Dena Bank Vs. Bhikhabhai Prabhudas Parekh & Co. & Ors., 2000(5) SCC 694, the issue raised in the present appeal requires consideration, in our judgment the issue is no more res integra. In State Bank of Bikaner & Ja...

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notification No. 182/2009-Customs Duty (N.T.), dated 15-12-2009

Notification No. 182/2009-Customs (N. T.) (15/12/2009)

The Principal notification was published in the Gazette of India, Extraordinary, vide Notification No. 36/2001 - Customs (N.T.), dated, the 3rd August, 2001 (S. O. 748 (E), dated, the 3rd August, 2001) and was last amended vide Notification No. 176/2009-Customs (N.T.), dated, the 30th November, 2009 (S. O. 3059 (E) dated 30th November, 20...

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Confirmation of particulars for compilation of firms data as on 1st January, 2010 and Information for Firm Constitution Certificate

The Institute compiles data of firms as on 1st January every year based on the particulars as provided by the firms duly confirmed/updated/modified. The exercise for compilation of the data of the firms as on 1st January, 2010 is being undertaken....

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Posted Under: Custom Duty |

ICAI president awarded with the honorary membership of the Certified Practising Accountant of Australia

CA. Uttam Prakash Agarwal, President, the Institute of Chartered Accountants of India (ICAI), has been awarded with the honorary membership of the Certified Practising Accountant of Australia by Prof. Richard Petty, President, CPA Australia Ltd. CPA Australia is one of the largest accounting bodies in Australia. CA. Uttam Prakash Agarwal ...

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Posted Under: Custom Duty | ,

CBEC amends Tariff Value of Brass Scrap and Poppy Seeds – Amendment in Notification No. 36/2001-Cus (N. T.), dated, 3rd August 2001

Circular No. 32/2009-Custom Duty (15/12/2009)

Notification No. 182/2009 – Customs (N. T.)- In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Board, being satisfied that it is necessary and expedient so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Fi...

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SEBI Cir No. IMD/FII & C/41/2009 on allocation methodology of debt investment limits to FIIs

Circular No. IMD/FII & C/41/2009 (15/12/2009)

The debt requests in this regard shall be forwarded to the dedicated email id fii_debtrequests@sebi.gov.in. The window for first come first served process shall open at 23:59 PM IST, December 17, 2009. Time period for utilization of the allocated debt limit through first come first served basis shall be 11 working days from the date of th...

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MAT will be eased for infrastructure companies in new DTC

The government is likely to ease the incidence of minimum alternate tax, or MAT, on infrastructure companies. The department of revenue plans to change the proposed direct tax code to exempt these companies from MAT for the first few years since they execute projects with long gestation periods. The code, in its current form, says all com...

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Posted Under: Custom Duty |

Indian company giving bank guarantee on loan taken by its subsidiary abroad will have to pay tax

An Indian company that provides a bank guarantee (BG) against a loan taken by a subsidiary abroad will now have to pay tax here for standing guarantee for its associate, irrespective of whether or not it has received a commission from the latter for the BG. Seven companies which have provided bank guarantees against loans taken by their s...

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Posted Under: Custom Duty |

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