Department of Administrative Reforms and Public Grievances has prepared a Draft Bill called “Citizens Right to Grievance Redress Bill, 2011”. This is a comprehensive rights based bill for the citizens of the country, providing statutory backing for getting timely services and goods specified in citizens charters of public authorities from Gram Panchayat, Block, District, State […]
Oil companies today yet again hiked petrol prices by Rs 1.80 per litre to offset the fall in rupee that has made imports of crude costlier. After today’s increase, petrol in Delhi will cost Rs 68.64 a litre. The rates will vary in other cities according to local levies. This is the second hike in petrol prices in […]
Key Team Anna member Arvind Kejriwal, Thursday, sent a cheque of Rs 9.27 lakh – to clear his dues – to Prime Minister Manmohan Singh so that his resignation from the Indian Revenue Service is accepted. In a letter enclosed with the cheque, Kejriwal said that his move to clear the dues does not imply that he was guilty in anyway and that he was clearing the dues in protest. Ideally he should have sent the cheque to the Income Tax department.
Government of India has decided to extend interest subvention of 2% on rupee export credit on specified export sectors from April 1, 2011 to March 31, 2012. Accordingly, the interest subvention on pre-shipment and post-shipment rupee export credit is extended from April 1, 2011 to March 31, 2012 on the same terms and conditions as mentioned in our circular dated January 11, 2011 for the following sectors.
Please refer to the circular DBOD.No.Dir.(Hsg).BC.31/08.12.001/2009-10 dated August 27, 2009 on ‘Finance for Housing Projects’. Banks were advised, inter-alia, to stipulate a clause, in the terms and conditions of granting finance to specific housing/development projects, regarding disclosure of mortgage of property to the bank in the Pamphlets / Brochures/ Advertisements etc., which may be published by developer/owner inviting public at large to purchase flats and properties.
Architect’s Services- means any service provided or to be provided to any person, by an architect in his professional capacity, in any manner;
Airport services means any service provided or to be provided to any person, by airports authority or any other person, in any airport or a civil enclave; Rate of Tax & Accounting Code:
The due date for submission of refund application u/s 51 of MVAT Act, 2002 for the period 2009-10 was 30.09.2011. Representations were received for extension of this date. Considering the difficulties faced by the Trade, the due date for submission of refund application in form 501 for the year 2009-10 has been extended up-to 31st December 2011.
Please refer to our Circular DBOD No.BP.BC.86/21.04.157/2006-07 dated April 20, 2007 on Comprehensive Guidelines on Derivatives. The guidelines with regard to suitability and appropriateness policy for offering of derivative products to users, as outlined in paragraph 8.3 of the said circular, were reviewed in the light of the experience gained in implementation of the guidelines over last four years, and the revised version of the paragraph 8.3 was issued vide circular DBOD.No. BP.BC.27/21.04.157/2010-11 dated August 2, 2011.
“Taxable Service” means any service provided or to be provided to any person by an air travel agent in relation to the booking of passage for travel by air; “Air Travel Agent” means any person engaged in providing any service connected with the booking of passage for travel by air;Rate of Tax & Accounting Code:
