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Archive: 17 June 2010

Posts in 17 June 2010

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6315 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Live Course on How to Reply to GST Notices & SCN & to Fake ITC Notices? – Last day to Register

May 15, 2024 19341 Views 0 comment Print

Join our live course to learn expert strategies for replying to GST notices, SCNs, and fake ITC notices. Understand litigation nuances, evidence insights, and practical tips for effective responses. Register now!

Cash Management Bills – Bidding Commitment and Success Ratio

June 17, 2010 352 Views 0 comment Print

Please refer to the Press Release dated August 10, 2009 on issuance of Government of India Cash Management Bills (CMBs), wherein, it has been stated that the Government of India, in consultation with the Reserve Bank of India, has decided to issue a new short-term instrument, known as Cash Management Bills, to meet the temporary cash flow mismatches of the Government. The CMBs will be non-standard, discounted instruments issued for maturities less than 91 days. Further, it has been stated that the CMBs will have the generic character of Treasury Bills.

Customs Notification No 49/2010 (NT), Makes Customs, Central Excise Duties and Service Tax Drawback (Second Amendment) Rules, 2010

June 17, 2010 805 Views 0 comment Print

the Assistant Commissioner of Central Excise or Assistant Commissioner of Customs and Central Excise or Deputy Commissioner of Central Excise or Deputy Commissioner of Customs and Central Excise, as the case may be, may extend the aforesaid period of three months by a period of three months and that the Commissioner of Central Excise or Commissioner of Customs and Central Excise, as the case may be, may further extend the period by a period of six months;

CBN Circular No. 1, Dated 17-6-2010

June 17, 2010 481 Views 0 comment Print

CBN Circular No. 1 1. Service Providers are made application users of CBN Application Software. Service Providers will access CBN database of Income Tax Department through Personal Computer (PC) installed in their premises and connected to Bharti network. 2. Service Providers will connect CBN Application as application users by running appropriate link in Internet Explorer.

CBN Instruction No. 4, Dated 17-6-2010

June 17, 2010 4104 Views 1 comment Print

CBN Instruction No. 4 Users who have assigned role to access Assessee Information System (AIS) module can now access CBN Application for Permanent Account Number (PAN) query. This facility can be accessed from menu option ‘CBN’ provided in AIS module main menu. They no longer have a need to login CBN server directly for PAN query. However, present facility has not been withdrawn and

Customs Notification No 48/2010 (NT), dated 17th June, 2010

June 17, 2010 766 Views 0 comment Print

In exercise of the powers conferred by section 74 of the Customs Act, 1962 (52 of 1962), the Central Government hereby makes the following rules further to amend the Re-export of Imported Goods (Drawback of Customs Duties) Rules, 1995, namely: –

Clarification regarding Non-applicability of RBI’s A.P. (DIR Series) Circular No. 49, dated 4-5-2010 to Insurance Sector

June 17, 2010 1029 Views 0 comment Print

Reserve Bank of India Foreign Exchange Department, vide circular No. RBI/2009-10/445 A.P. (DIR Series) Circular No. 49 dated May 04, 2010 has notified change in pricing guidelines of equity shares, compulsorily convertible preference shares and compulsorily convertible debentures (Equity instruments) to be issued / transferred to a resident outside India. The guidelines are applicable to an Indian Company in sectors other than financial sector.

Anti Money Laundering (AML) Guidelines – Circular No. IRDA/F&I/CIR/AML/99/06/2010, dated 16-6-2010

June 17, 2010 2661 Views 0 comment Print

Various queries have been raised by insurers on who can be termed as customer(s) for the purposes of AML guidelines. Keeping the objective of the PMLA and AML guidelines in view, it is hereby clarified that details of the person who funds/pays for an insurance contract, either as beneficial owner or otherwise become relevant and important. Stipulations under clause 3.1 of the AML guidelines will therefore have to be applied to such persons. The term customers also refer to the Proposer/policyholder; Beneficiaries and Assignee for the purposes of AML guidelines.

Revised Discussion Paper on Direct Taxes Code released

June 17, 2010 730 Views 0 comment Print

The Government of India (GOI) had released a draft Direct Taxes Code (DTC) along with a Discussion Paper in August 2009 for public comments. Since then, a number of inputs on the proposals outlined in these documents have been received from a large number of organizations and individuals. These inputs have been examined and major issues on which various stakeholders have given their views have been identified.

Requests for transfer of units from one SEZ to another SEZ

June 17, 2010 1080 Views 0 comment Print

Government has been receiving requests for shifting of units from one SEZ to another SEZ due to various reasons. These requests were considered but could not be acted upon as there are no specific provisions under the SEZ Rules for these shifts and also there are no rule prohibiting the shifts, with the consolidation of SEZs,

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