In case of supply by DTA unit to a unit in SEZ, either a separate Certificate from the bank of the Receiving unit or specific endorsement in the BRC evidencing payment in Rupee made from the Foreign Currency Account of SEZ unit.
In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2004-2009 and Paragraph 1.1 of the Handbook of Procedures (Vol.I), the Director General of Foreign Trade hereby makes the following additions/amendments in the Schedule of DEPB Rates (as amended from time to time) with immediate effect.
Reference is invited to the Board’s Circular No.6/2002-Customs dated 23.1.2002 as amended vide Circular No.13/2003-Customs dated 3.3.2003 and Circular No.30/2003-Customs dated 4.4.2003 laying down the examination norms for export of goods under different export promotion schemes.
The principal notification No.8/2004-Central Excise, dated the 21 st January, 2004 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 60(E) of the same date, and was last amended by notification No.11/2007-Central Excise, dated the 1 st March, 2007, which was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R.140(E) of the same date.
Indian Government which dissolved the whole satyam board not sure if its to safeguard Satyam Computers or the Satyam involved in the Satyam Computer services fraud.It informed that they have appointed the first 3 members of the 10 Member board and its appointed by the Ministry of Corporate Affairs.They will first form the Board of […]
The nature of the expenditure treated as a deferred revenue expenditure in the books needs to be properly analysed before taking a view on its allowbaility or otherwise under the provisions of the Act,where such expenditure results in the creation of any capital asset – tangible or intangible – a case can be made out to treat the same as a capital expenditure with corresponding allowability of depreciation in accordance with law,in cases where the nature of the revenue expenditure is such that the same can be clearly and unambiguously identified over specified future time periods (e.g. discount on issue of debentures) akin to prepaid expenses, the same would be allowable over the period to which these relate proportionately, applying the matching principle.
25. On the basis of above material, it is not possible to hold that assessee was carrying on mere repair of transformers and not any manufacturing activity. Assessee’s claim that it is manufacturing electromechanical parts and accessories like winding coils, insulation material etc. etc. from different material is clearly established on record. No dispute had been raised that above items manufactured by the assessee
8. The term technical service has come for the consideration before the Hon’ble Delhi High Court in the case of Estel Communications Pvt. Ltd. (supra). In the said case, the assessee was providing internet bandwidth for providing access to its subscribers. The main server, based on which the internet services were provided were located in USA. In that case, the Assessing Officer was of the opinion
When it rains, it pours. The Central Board of Direct Taxes (CBDT) has launched an investigation into Satyam Computer Services, joining a growing list of authorities investigating the company whose fate hangs in the balance following an admission of financial irregularities by its founder-chairman. The company, which is likely to be issued with a show […]
Price Waterhouse, the statutory auditor to Satyam Computers, on Thursday said that their audits of Satyam’s books were conducted in accordance with auditing standards. “Over the last two days, there have been media reports with regard to alleged irregularities in the accounts of Satyam Computer Services. The audits were conducted by Price Waterhouse in accordance […]
