"28 October 2011" Archive

Draft Circular on Refunds in Service Tax ; Problems faced by exporters in availing refund of excess credit

Draft Circular No. /2011 – Service Tax 28/10/2011

Representations have been received both from the field and the trade regarding difficulties being faced in the determination of the input services which are eligible for refund under notification 05/2006. Resultantly, the issue has spawned delays and disputes, which has necessitated the issue of this clarification. The issue of eligibilit...

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CBI Arrests an Assistant PF Commissioner, Enforcement Officer and a Supdt. of Central Excise in Separate Bribery Cases

CBI ARRESTS AN ASSISTANT PROVIDENT FUND COMMISSIONER, ENFORCEMENT OFFICER AND A SUPDT. OF CENTRAL EXCISE IN SEPARATE BRIBERY CASES The Central Bureau of Investigation has arrested an Assistant Provident Fund Commissioner & an Enforcement Officer working in Employees Provident Fund Organisation, Kandivali (W), Mumbai, for demanding &am...

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Posted Under: Service Tax |

Companies (Dematerialization of Certificates) Rules, 2011

Notification No 17/143/2011-CL.V 28/10/2011

The matter was examined by this Ministry in consultation of Law Ministry and it has been decided to withdrawal of draft of Dematerialization of Certificates Rules, 2011....

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MCA withdrawn draft of Companies (Dematerialization of Certificates) Rules, 2011

No 17/143/2011-CL.V 28/10/2011

E-Governance Cell: - with a request to place the aforesaid letter in the website of MCA....

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No interest levy despite short deduction of taxes if reasons are bona fide and the shortfall is nominal

Madhya Gujarat Vij Co. Ltd. Vs. Income-tax Officer (ITAT Ahemdabad)

Madhya Gujarat Vij Co. Ltd. (ITAT Ahmedabad)- Section 192(3) of the Act enables the employer to make adjustment of any excess or deficiency arising out of previous deduction or failure to deduct during the tax year. If there are bona fide reasons for short deduction in the earlier months and the same is made good immediately […]...

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Transfers & Postings of Commissioners & Directors of Income-tax – Order No. 176 of 2011

ORDER NO. 176 OF 2011 28/10/2011

ORDER NO. 176 OF 2011 -The following postings and transfers of officers in the grade of Commissioners/Director of Income Tax are hereby ordered with immediate effect and until further orders:...

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Government E-Payment System to be Inaugurated; will Bring Transparency; Facilitate Paperless Transaction and Reduce Overall Transaction Cost

The Controller General of Accounts (CGA), Department of Expenditure, Ministry of Finance has developed a fully secured Government e-payment system for direct credit of dues from the Government of India into the account of beneficiaries using digitally signed electronic advice (e-advice) through the ‘Government e-Payment Gateway’ (GePG...

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Posted Under: Service Tax |

RBI asks NBFCs to take step to Implement Green Initiative

RBI/2011-12/237 DNBS(PD).CC. No 248/03.10.01 /2011-12 28/10/2011

Implementation of Green Initiative of the Government -As part of the ‘Green Initiative’ of the Government, the Government of India has suggested that steps be taken by entities in financial sector, including NBFCs to help better utilisation of their resources and also better delivery of services....

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KYC Guidelines – AML Standards -Prevention of Money Laundering Act, 2002 – Obligations of NBFCs – Revised Reporting Format

RBI/2011-12/236 DNBS(PD).CC. No 247 /03.10.42 /2011-12 28/10/2011

Know Your Customer' (KYC) Guidelines – Anti Money Laundering Standards (AML) Prevention of Money Laundering Act, 2002 - Obligations of NBFCs in terms of Rules notified thereunder’-Reporting Format under Project FINnet. Please refer to Master Circular No 231 dated July 1, 2011 on 'Know Your Customer' (KYC) Guidelines – Anti Money L...

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Amends Notification No.68/2011-Customs(N.T.) dated the 22nd September related to changes in all Industry Rates of Duty Drawback, 2011-12

Notification No. -75/2011-Customes (N.T.) 28/10/2011

In exercise of the powers conferred by sub-sections (2) and (3) of section 75 of the Customs Act, 1962 (52 of 1962), sub-sections (2) and (2A) of section 37 of the Central Excise Act, 1944 (1 of 1944), and section 93A read with sub-sections (2) and (3) of section 94 of the Finance Act, 1994 (32 of 1994), read with rules 3, 4 and 5 of the ...

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