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Archive: November, 2010

Posts in November, 2010

Notification No. 94/2010 – Customs (N.T.) dated 03.11.2010

November 3, 2010 583 Views 0 comment Print

G.S.R. … (E) – In exercise of the powers conferred by sub-section (1) of section 5 of the Customs Tariff Act, 1975 (51 of 1975), the Central Government hereby makes the following rules further to amend the Customs Tariff [Determination of Origin of Goods under the Preferential Trade Agreement between the Governments of Member States of the Association of Southeast Asian Nations (ASEAN) and the Republic of India] Rules, 2009, namely:- These rules may be called the Customs T

Modification of SION A-3559 under Chemical & Allied Products Group

November 3, 2010 487 Views 0 comment Print

In exercise of the powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2009-14, the following amendment is made in the Handbook of Procedure Vol. II ( as stated in paragraph 1.1 of Vol. I).

Commission for referring patients for diagnosis to Doctors not allowable

November 3, 2010 5133 Views 0 comment Print

Commission paid to private doctors for referring patients for diagnosis could not be allowed as a business expenditure. The amount which can be allowed as business expenditure has to be legitimate and not unlawful and against public policy.

Notification No. GSR 882(E)-Income Tax Dated 3/11/2010

November 3, 2010 643 Views 0 comment Print

Notification No. GSR 882(E)-Income Tax In exercise of the powers conferred by section 15 of the Government Savings Bank Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office Savings Account Rules, 1981

Notification No. G.S.R.881(E), dated 3-11-2010

November 3, 2010 1176 Views 0 comment Print

ISSUED BY MINISTRY OF CORPORATE AFFAIRS- In exercise of the powers conferred by sub-section (1) of Section 637A of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following amendments in the notification of the Government of India, erstwhile Ministry of Law, Justice and Company Affairs (Department of Company Affairs) No. GSR 555(E), dated 26-7-2001, and published in the Gazette of India, in Part II, Section 3, sub-section (i), dated the 26th July, 2001, namely:

Notification No. G.S.R. 880(E), dated 3-11-2010

November 3, 2010 1173 Views 0 comment Print

Provided also that the outstanding Non-performing assets as at 31-3-2010 would be worked out and provided according to the note under the clause (ii)(a) on equal installments till 31-3-2015.

Public Notice No. 14 /2009-2014 (RE 2010), Dated:02.11.2010

November 2, 2010 487 Views 0 comment Print

In case of revalidation of advance authorization issued prior to 27.8.2009, it should be ensured that value addition (VA) 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.

Export Turnover under section 10B and non excludability of Expenses incurred in foreign currency on onsite computer software development at the client

November 2, 2010 1844 Views 0 comment Print

(a)Expenses incurred in foreign currency on onsite computer software development at the client’s place outside India should be excluded from export turnover; and (b)Export proceeds utilized outside India for expenses relating to exports should be excluded from export turnover as a non-qualifying export turnover.

SEBI – Portfolio Managers – Clarification on minimum investment amount by clients, performance of portfolio and schemes

November 2, 2010 568 Views 0 comment Print

This circular is issued in exercise of powers conferred under section 11(1) of the Securities and Exchange Board of India Act, 1992 read with the provisions of Regulation 39 of the SEBI (Portfolio Managers) Regulations, 1993, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

Amends Notification No.23/2006-Customs, dated the 6th March, 2006 vide Notification No. 114/2010-Customs

November 1, 2010 456 Views 0 comment Print

G.S.R. (E). -Whereas, the designated authority vide notification No. 15/16/2009-DGAD, dated the 22nd June, 2010, published in the Gazette of India, Extraordinary, Part I, Section 1 dated the 22nd June, 2010, had initiated review in terms of sub-section (5) of section 9A of the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the said Customs Tariff Act) and in pursuance of rule 23 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995 (hereinafter referred to as the said rules), in the matter of continuation of anti-dumping duty on imports of Sodium Formaldehyde Sulphoxylate (SFS), falling

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