G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 21/2002-Customs, dated the 1st March, 2002 which was
G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 146/94-Customs, dated the 13th July, 1994 , published in the
G.S.R. 783 (E). – Whereas, in the matter of import of Recordable Digital Versatile Disc [DVD] of all kinds (hereinafter referred as the subject goods), falling under heading 8523 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) and originating in, or exported from Malaysia, Thailand and Vietnam, (hereinafter referred to as the subject countries) into India, the Designated Authority, in its preliminary findings vide notification No. 14/16/2009-DGAD dated the 13th November, 2009, published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 13t
As per extant FDI policy, shares can be issued to a non-resident against receipt of funds through normal banking channels. If the funds are not received through normal banking channels, prior approval of the Government is required for such issue. The only exception to the above condition is the situation where shares are to be issued against External Commercial Borrowings (ECBs) and/or royalty payments (including lump-sum technical know-how fees). In such cases, shares can be issued under the automatic route without funds being received specifically for the purpose of issues of shares.
The Finance Ministry has ruled out extension of income tax holiday beyond March 2011 for software technology park of India (STPI) units. The tax breaks for STPI scheme has a sunset for March 31, 2011, implying that the tax holiday will end for units
Merger procedures may soon become easier for India Inc. The Government is planning to come up with an ordinance to do away with the process of sanction by the Competition Commission of India (CCI) for small-ticket mergers and acquisitions. The ordinance will also ensure that the CCI takes a decision on an M&A application within 180 days, significantly down from the current 210 days.
New Delhi: The Bar Council of India (BCI), a statutory body of advocates, today decided not to permit foreign lawyers or their firms to practise in India, but assured that a more detailed and rational scrutiny of the subject would be done soon.
The Supreme Court on Monday refused to offer any immediate relief to Vodafone, which has challenged the Bombay High Court order allowing the government to tax the company’s $11 billion deal with Hutch. The tax department had raised a demand for Rs 12,000 crore (Rs 120 billion) as tax on the 2007 deal. While refusing to stay the high court order, the apex court issued notices to the tax authorities directing them to decide within four weeks the liabilities of Vodafone.
The Limited Liability Partnership Act, 2008 (LLP Act) was notified on April 1, 2009. With the passing of this Act, a new hybrid entity, incorporating the features of both- a body corporate, as well as a traditional partnership-can be formed for the purposes of undertaking business in India. The LLP has not yet been recognized under FDI policy. The LLP structure lies between that of a company where FDI is permitted and that of a partnership, where it is generally not permitted. Key features of an LLP, as well as a comparison between the other existing ownership structures, are provided in the Annexure.
Hinting at a major overhaul in the regulations for insurance sector, IRDA said it will soon come out with merger and acquisition norms for the insurers and IPO guidelines are already on the way. At the same time, Insurance Regulatory and Development
