A staggering 96.3 million square feet of residential space — or about 80,000 homes — is lying unsold in the Mumbai Metropolitan Region (MMR), the highest-ever inventory pile-up for the area. Sales are down 38% over last year.
India will impose a 10 per cent import tax on power equipment for big projects within weeks to help level the playing field between domestic and foreign firms jostling in what may soon be the world’s biggest market. The tax would reverse a policy of zero import duty on equipment for mega projects introduced to meet India’s urgent capacity shortages, said Arun Maira, a member of the government’s Planning Commission who led a committee on equipment imports.
The Lok Sabha on Thursday passed a bill aimed at promoting foreign trade and enabling the government to take swift action in trade disputes. The bill, which was passed by the Rajya Sabha on Aug 9, makes changes in the Foreign Trade (Development and Regulation) Act, 1992. Minister of Commerce and Industry Anand Sharma said the government would take all necessary measures to boost foreign trade, especially exports.
The Government has been taking active measures to make Hindi one of the official languages of the United Nations. A high level Committee under the Chairmanship of the External Affairs Minister was constituted on 26 February 2003. This was followed by a sub-Committee set up under the Chairmanship of the Minister of State for External Affairs in August 2003 to examine this matter and take necessary measures.
The Government has informed the Lok Sabha that as on 31.7.2010, a total number of 2,688 cases are pending before Company Law Board. Giving this information in written reply to a question in the Lok Sabha today, Shri Salman Khurshid, Minister of Corporate Affairs, said that there has been no delay attributable to the Company Law Board in examination of cases by the Company Law Board.
Serial No 12 (b) of Form A (OMR Sheet) of the Professional Competence Examination – November 2010 Application Form requires CPT passing details and the students are required to fill up their roll number in that column. The relevant portion of the form contains 5 boxes whereas there is a possibility that some of the students’ roll numbers may contain more than 5 digits, such students are requested to fill up only the last 5 digits of their roll numbers in that column (Serial No 12 (b) of Form A).
Availability of Physical Application Forms for Chartered Accountants November-2010 Examinations. Due to unavoidable difficulties in dispatching, there have been instances of shortage at certain decentralized offices and / or branches of ICAI in the availability of the physical application forms for the Chartered Accountants November-2010 Examinations.
Appeal by revenue against the order of Tribunal setting aside penalties under Sections 76 and 78 of the Finance Act, 1994 – The Tribunal has recorded a finding of fact that the assessee did not have the requisite mens rea to evade payment of service tax
In exercise of the powers conferred by section 157 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby makes the following regulations further to amend the Courier Imports and Exports (Clearance) Regulations, 1998, namely :-
Notification No.70 / 2010-Customs (N.T.) the Commissioner of Customs (Export), New Customs House, Mumbai, for the purposes of adjudicating the matters relating to Show Cause Notice issued to M/s. Frost International Limited, 402, Kalpana Plaza, 24/147B, Birhana Road, Kanpur and others, vide F.No. DRI/GRU/INV-01/09-10.Pt.II dated 25th May, 2010 by the Additional Director General, Directorate of Revenue Intelligence, Ahmedabad Zonal Unit, Ahmedabad.
