"29 December 2011" Archive

Amends Notification No. 69/2004-Customs, dated the 9th July, 2004

Notification No. 119/2011–Customs 29/12/2012

Notification No.119/2011 – Customs In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), read with section 91 and 94 of the Finance (No. 2) Act, 2004 (23 of 2004), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the follow...

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Amends Notification No. 20/2006-Customs, dated the 1st March, 2006 vide Notification No.118/ 2011 – Customs

Notification No. 118/2011–Customs 29/12/2011

Notification No.118/2011 – 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 amendments in the notification of the Government of India in th...

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Notification No. 117/2011-Customs Dated-29th December, 2011

Notification No. 117/2011-Customs 29/12/2011

Notification No. 117/2011-Customs In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby directs that each of the notifications of the Government of India in the Ministry of Finance (Dep...

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Amends Notification No. 101/2007-Customs, dated the 11th September, 2007 so as to effect the HSN changes

Notification No. 116/2011-Customs 29/11/2011

Notification No. 116/2011-Customs Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following amendments in the in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 101/2007-Customs, dated the 11th September, 2007, published in the ...

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Date of Applicability of AS-11 – Effects of Changes in Foreign Exchange Rates

Notification No. G.S.R. 913(E) 29/12/2011

The Ministry of Corporate Affairs (MCA) has notified two amendments to AS 11 The Effects of Changes in Foreign Exchange Rates. In accordance with the first amendment, the sunset date for transitional provisions to AS 11, which allow deferment/ capitalization of exchange differences arising on long-term monetary items has been extended til...

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External Commercial Borrowings (ECB) denominated in Indian Rupees (INR) – hedging facilities for non-resident entities

RBI/2011-12/326 A. P. (DIR Series) Circular No.63 29/12/2011

On cancellation of the contracts, gains may be passed on to the customer subject to the customer providing a declaration that he is not going to rebook the contract or that the contract has been cancelled on account of cancellation of the underlying exposure....

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Clarification regarding Handling of Cargo in Customs Areas Regulations, 2009

Circular No. 54/2011-Customs 29/12/2011

Circular No. 54/2011-Customs it is clarified that all cases of lease, gift, sale or subletting or transfer of the premises in any other manner, in a customs area by major ports may be firstly examined to see whether required permission from the Central Government/ Ministry / Cabinet Committee has already been obtained or not. In cases whe...

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Economic and Financial Developments in Andaman and Nicobar Islands

Andaman & Nicobar Islands, a Union Territory of India since 1956, is an archipelago of 572 islands (306 islands and 266 rocks) and has a geographic area of 8,249 square kilometre. Of these islands, only 38 have human habitation. The UT is bestowed with abundant green vegetation and marine wealth besides huge potential for culture fisheri...

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Posted Under: Custom Duty |

Legislative Reforms- Strengthening Banking Sector

Empirical research shows that better developed financial systems accelerate economic growth and shrink income inequality by disproportionately increasing the earnings of lower income families2 i.e. enabling growth with equity, which is so vital for our country. A well developed financial system will require sound legislative framework bec...

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Posted Under: Custom Duty |

Financial Reporting in the context of Financial Stability – A Regulator’s view on Some Accounting Issues

The history of the Indian accounting profession can be traced back to the enactment of the Companies Act in 1857 that introduced for the first time the concept of preparing balance sheet on a voluntary basis by companies. We have come a long way since then and the ICAI, established in 1949 by an act of Parliament, is today the world’s s...

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Posted Under: Custom Duty |

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