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Archive: 05 December 2011

Posts in 05 December 2011

Service tax on Technical Inspection and Certification Services

December 5, 2011 4469 Views 0 comment Print

Technical Inspection and Certification Services means any service provided or to be provided to any person, by a technical inspection and certification agency, in relation to technical inspection and certification. “Technical Inspection and Certification” means inspection or examination of goods or process or material or information technology software or any immovable property to certify that such goods or process or material or information technology software or immovable property qualifies or maintains the specified standards, including functionality or utility or quality or safety or any other characteristic or parameters, but does not include any service in relation to inspection and certification of pollution levels.

Service Tax on Internet Telecommunication Services

December 5, 2011 11645 Views 0 comment Print

Internet Telecommunication Services means any service provided or to be provided to any person, by any other person, in relation to internet telecommunication service; Internet means a global information system which is logically linked together by a globally unique address, based on Internet Protocol or its subsequent enhancements or upgradations and is able to support communications using the Transmission Control Protocol or Internet Protocol suite or its subsequent enhancements or upgradations and all other Internet Protocol compatible protocols

Service tax on Manpower Recruitment or Supply Agency’s Services

December 5, 2011 16391 Views 0 comment Print

Manpower Recruitment or Supply Agency’s Services means any service provided or to be provided to any person, by a manpower recruitment or supply agency in relation to the recruitment or supply of manpower, temporarily or otherwise, in any manner; Manpower Recruitment or Supply Agency means any person engaged in providing any service, directly or indirectly, in any manner for recruitment or supply of manpower, temporarily or otherwise, [to any other person];]

Service tax on Internet Cafe Services

December 5, 2011 3618 Views 0 comment Print

Internet Cafe Services means any service provided or to be provided to any person, by an internet cafe in relation to access of internet; “Internet Cafe” means a commercial establishment providing facility for assessing internet;

RBI intimate banks revised PPF Limit and Interest Rate

December 5, 2011 3726 Views 0 comment Print

Amendment to Public Provident Fund Scheme, 1968 (PPF, 1968) We forward herewith a copy of Government of India Notifications G.S.R. (E) & S.O.(E) dated November 25, 2011, on the captioned subject, the contents of which are self-explicit. 2. In this regard, we advise that the contents of the Notifications may be brought to the notice of the branches of your bank operating the PPF, 1968 and may also be displayed on the notice boards of your branches for the information of the PPF, 1968 subscribers.

An assessment of recent macroeconomic developments

December 5, 2011 930 Views 0 comment Print

Thank you for inviting me to share my thoughts at the Annual CII CFO Summit. In recent weeks, the macroeconomic environment has become particularly turbulent. Global conditions have contributed to a significant rebalancing of portfolios as a result of rapidly changing risk perceptions and appetites. This has led to increased instability and volatility in financial markets, particularly currency markets. On the domestic front, growth is decelerating while inflation remains high, with upside pressures persisting from the sharp depreciation in the rupee. While overall macroeconomic conditions may cause concern, we need to take an integrated and forward-looking view of positive and negative indicators and future risks while thinking about appropriate policy responses. This is what I propose to do during the course of this talk.

Farmers Support FDI in Retail Delegation of North Indian Farmers Meets Anand Sharma

December 5, 2011 819 Views 0 comment Print

A large delegation of farmers from North India met the Union Minister of Commerce Industry and Textiles Shri Anand Sharma, here today, to register their support for the Government’s decision to allow 51 per cent FDI in retail sector. The farmers expressed their happiness that the policy removes middleman and aims to bring better prices for the farmer’s products.

Rescinds notification no. 78/2006-Customs, dated the 8th August, 2006

December 5, 2011 775 Views 0 comment Print

Notification No. 108/2011- Customs In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act,1962 (52 0f 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, 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. 78/2006-Customs, dated the 8th August, 2006, published in the Gazette of India, vide number G.S.R. 467(E), dated 8th August, 2006, except as respects things done or omitted to be done before such rescission.

Exempts from Special Additional Duty (SAD) all goods exempted under notification no. 104/2010-Customs, dated 1st October,2010 when imported from Nepal.

December 5, 2011 1056 Views 0 comment Print

Notification No. 107/ 2011 – Customs In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act,1962 (52 0f 1962), the Central Government, on being satisfied that it is necessary in the public interest 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.20/2006-Customs, dated the 1st March,2006, published in the Gazette of India, Extraordinary, vide number G.S.R.92 (E),dated the 1st March, 2006, namely:-

Government allows Rebate of excise duty on export of goods to Nepal under ARE-1 Procedure w.e.f. 1st March 2012

December 5, 2011 3104 Views 0 comment Print

Notification No. 19/2004-CENT dated 04.09.2004 prescribes the procedure for granting of rebate for goods exported to countries other than Nepal. Now this Notification will apply to exports to Nepal too. Notification No. 24/2011-Central Excise (N.T.), New Delhi, the 5th December,2011

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