"October, 2011" Archive - Page 2

Amendment in chapter 2 of ITC(HS) relating to export of meat

Notification No 82 (RE-2010)/2009-2014 (31/10/2011)

Notification No 82 (RE – 2010)/2009-2014 Exporters would now be required certify both (a) that the items have been obtained/sourced from an APEDA registered integrated abattoir or from APEDA registered meat processing plant and (b) that the raw material have been sourced exclusively from APEDA registered integrated abattoir/abattoir. ...

Read More

Amendment in Notification No. 36/2001-Customs(N.T) dated the 3rd August 2001 related to tariff value of Crude Palm Oil, RBD Palm Oil etc

Notification No. 76/2011-Cus., (NT.) (31/10/2011)

In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Board, being satisfied that it is necessary and expedient 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. 36/2001-Cus ...

Read More

DPIN will be treated as DIN

Ministry of Corporate Affairs has decided to simplify issuance of identification numbers to those who wish to incorporate a Company or LLP; hence identification scheme of Designated Partner Identification Number (DPIN) is merged with Director Identification Number (DIN). Accordingly DPIN assigned to you will be treated as DIN....

Read More
Posted Under: DGFT |

Trade Notice No. 21/2011, Dated: 31.10.2011

Trade Notice No. 21/2011 (31/10/2011)

Trade Notice No. 21 On the basis of information available with the DGFT, the following firms are permitted to export the excise verified stock of quantities mentioned against their names (which were manufactured prior to ban):...

Read More

Banks' Exposure to Capital Market – Issue of Irrevocable Payment Commitments (IPCs) – Circular No. DBOD.Dir.BC. 43 /13.03.00/2011-12

RBI/2011-12/239 DBOD.Dir.BC. 43/13.03.00/2011-12 (31/10/2011)

Please refer to our circular No. DBOD.Dir.BC.46 /13.03.00/2010-11 dated September 30, 2010 in terms of which certain risk mitigation measures were prescribed in the context of banks issuing IPCs to various Stock Exchanges on behalf of Mutual Funds and FIIs, as a transitionary arrangement till October 31, 2011....

Read More

Corrigendum to Circular 2 of 2011 – Consolidated FDI Policy

Corrigendum to Circular 2 Of 2011 (31/10/2011)

Circular 2 of 2011 was issued on 30th September, 2011. Para NO.3.3.2.1 of the above Circular hereby stands deleted. Erstwhile paragraph 3.3.2.1 of ‘Circular 2 of 2011’ went like this:...

Read More

Young Lawyers with no privileged background – an advice?

Legal profession is a wonderful profession if young lawyers know as to how to succeed in profession. I have recently heard an interview of Shri Gopal Subramaniyam where he was emphasizing on various law colleges in the country apart from ‘National Law Schools’. He was clearing the doubts about the ‘Qualifying Examination’. On ano...

Read More
Posted Under: DGFT |

ICSI – Briefs of professional or other misconduct cases

Briefs of professional or other misconduct cases filed against the members in which the Disciplinary Committee of the Institute has found them guilty and has decided to remove their names from the Register of Members vide its Orders dated 3rd October,2011. ...

Read More
Posted Under: DGFT |

No disallowance U/s. 40(a)(ia) of expenses for short-deduction of TDS

Deputy Commissioner of Income Tax Vs. M/s. S. K. Tekriwal (ITAT Kolkata)

DCIT vs. M/s. S. K. Tekriwal (ITAT Kolkata) - In the present case before us the assessee has deducted tax u/s. 194C(2) of the Act being payments made to sub-contractors and it is not a case of non-deduction of tax or no deduction of tax as is the import of section 40a(ia) of the Act. But the revenue’s contention is that the payments ar...

Read More

Saving Bank Interest Rate Deregulation – An End to ‘Lazy Banking’?

In a surprise move, India’s central bank, the Reserve Bank of India, on Tuesday freed commercial banks to determine the interest rates on savings accounts for the first time in 34 years. Since 1977, a time that was the halcyon days of Indian socialism, the R.B.I. had determined the rates banks paid on savings deposits, […]...

Read More
Posted Under: DGFT |