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Archive: 2010

Posts in 2010

Rescinds notification no. 02/2010 – Exemption to software where duty of excise was paid- Notification No. 51/2010-ST dated -21-12-2010

December 21, 2010 510 Views 0 comment Print

In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby rescinds the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 02/2010- Service Tax, dated 27th February, 2010.

Import of Onions and shallots exempted from customs duty- Notification No. 127/2010-Cus

December 21, 2010 589 Views 0 comment Print

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. 21/2002-Customs, dated the 1st March, 2002, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 118(E) dated the 1st March, 2002, namely :- In the said notification, in the Table,-

Rescinds notification no. 31/2010 – Exemption to packaged software from custom duty- vide Notification No. 126/2010-Cus

December 21, 2010 334 Views 0 comment Print

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 rescinds the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 31/2010-Customs, dated the 27th February, 2010, published in the Gazette of India, Extraordinary, Part II,

Packaged software or canned software shall be liable to Excise duty subjection to MRP – abatement shall be 15 Percent

December 21, 2010 754 Views 0 comment Print

G.S.R. (E).- In exercise of the powers conferred by sub-sections (1) and (2) of section 4A of the Central Excise Act, 1944 (1 of 1944), 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.49/2008-Central Excise (N.T.)

Johnny and Service Tax Refund [Series- II] – Part 5- “Condition relating to Time Limit of One Year”

December 21, 2010 625 Views 0 comment Print

we in this article are unveiling the problems existing in the Service tax refund mechanism under various services as specified in the Notification No. 17/2009-ST (herein after referred to as Said Notification). For example CHA service, Port Service,

RBI Directions for opening and operation of Accounts and settlement of payment for electronic payment transactions involving intermediaries

December 20, 2010 897 Views 0 comment Print

Please refer to our circular Ref no. 1102/02.14.08/2009-10 dated November 24, 2009 on the captioned subject. In this regard you are advised to forward us a complete list of intermediaries accounts maintained with your bank by 5th January 2011.

I-T department to open 10 overseas tax units in countries with low tax

December 20, 2010 450 Views 0 comment Print

The Income Tax Department has begun opening overseas tax units in countries with low tax. Income Tax Department ha opened two offices so far in Singapore and Mauritius and by March we will open another eight overseas locations like cyprus. These offices are primarily targeted in tax havens to prevent tax evasion.

Govt may bring corporate lobbying under RTI

December 20, 2010 498 Views 0 comment Print

A day after stating that lobbying and public relations were part of a democratic set-up, corporate affairs minister Salman Khurshid said the government might explore whether corporate lobbying could be included under the Right to Information (RTI) Ac

I-T officer held in Income Tax refund scam

December 20, 2010 867 Views 0 comment Print

Thane: An income tax officer from Thane has been arrested by the economic offences wing of the police for allegedly masterminding an I-T refund scam and siphoning off public funds close to Rs 4 crore from 2007 to 2009.

IOA auditors of Suresh Kalmadi to help CWG probe

December 20, 2010 693 Views 0 comment Print

The high-level V K Shunglu committee appointed by the prime minister to probe irregularities and alleged misappropriation of funds in the Commonwealth Games (CWG) 2010 has hired chartered accountants of Suresh Kalmadi-led Indian Olympic Association (

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