Notification No.105 (RE-2010)/2009-2014 In respect of exports to Iran, export proceeds realized even in Indian rupees will be eligible to avail export benefits and incentives.
In exercise of powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No. 22 of 1992) read with paragraph 2.1 of the Foreign Trade Policy, 2009-2014, as amended from time to time, the Central Government hereby amends Notification No. 87(Re-2010)/2009-14 dated 05.12.2011 as follows.
The Union Finance Minister Shri Pranab Mukherjee said that setting up of Infrastructure Debt Fund through public private partnership would meet the long term need of infrastructure sector funding. The Finance Minister Shri Mukherjee said that he is confident that the establishment of Infrastructure Debt Fund through PPP model would be a guiding principle for our future activities. The Finance Minister said that funs to the tune of 1Trillion US$ would be required for Infrastructure Sector Funding in next five years, out of which 50 percent would come from private sector through PPP model.
In Notification No. 99 (RE-2010)/2009-14 dated 23.02.2012, the “Subject” heading at the top was mentioned as Permission for export of wheat through Land Custom Stations (LCS) on Indo-Bangladesh and Indo-Nepal border. The contents of the notification, however, covered some other issues in addition to export through Land Custom Stations (LCS). Hence the Subject of the notification was not an accurate description of the contents. To avoid any chance of mis-interpretation, it is decided to amend the Subject to read as Re-notification of Sl. No. 46 A of Chapter 10 of ITC(HS) Classification of export & import items for export of wheat.
As soon as the registration certificate has been surrendered by appellant, duty is cast on the department to verify whether the appellant has rightly gone out of the ambit of service tax or not. The department has not done this exercise within one year of the surrender of the registration certificate.The matter is sent back to the adjudicating authority to requantify the demand pertaining to normal period and to give the benefit of input service credit for normal period after due verification of the documents produced by the appellant in support of their claim. As extended period is not invocable, penalty under Section 78 is waived. The penalty under Section 77 is confirmed to the extent of Rs. 1000/-.
(i) Export of cotton [ITC(HS) Codes 5201 & 5203] has been prohibited till further orders. (ii) Transitional arrangements will not be applicable for the export of cotton. (iii) Export against registration certificates already issued will also not be allowed.
Please refer to our Circular DBOD.No.Leg.BC.24 /09.07.005/2009-10 dated July 21, 2009 wherein banks were, inter alia, advised to display the names and other details of the officials at their Head Office / Zonal Offices / Regional Offices including the names of the Nodal Officers / Principal Nodal Officers appointed under the Banking Ombudsman Scheme, 2006 on their web-sites who can be contacted for redressal of complaints. Banks were also advised to display the names, addresses, telephone numbers and fax numbers of their CMD / CEO, Line Functioning Heads for operations such as, Credit Cards, Loans and Advances, Retail Banking, Personal Banking, Rural / Agricultural Banking, SME Banking, etc on their web-sites to enable their customers to approach them, if necessary.
(Inaugural Address delivered by Mr. V.K. Sharma, Executive Director, Reserve Bank of India, at the World Risk Workshop 2012, organized by R-square RiskLab at Mumbai, India, February 6-7, 2012) 1. For all the like-never-before-and-hopefully-never-after financial, fiscal, economic and social costs of the Global Financial Crisis, the one perverse benefit of it, nevertheless, has been that […]
Key recommendations of the Parliament Standing Committee on Finance Raise annual income limit for I-T from Rs 1.8 lakh to Rs 3 lakh. 10% I-T on annual income beyond Rs 3 lakh and up to Rs 10 lakh. 20% on annual income beyond Rs 10 lakh and up to Rs 20 lakh. 30% on annual income over Rs 20 lakh
Even though policy changes undertaken in respect of overseas investment have facilitated the growing cross-border acquisitions by the Indian corporate sector, other structural reforms undertaken since 1992, such as, industrial deregulation, trade liberalisation and relaxation of regulations governing inward FDI, led to major restructuring in the Indian industry. In fact, many of the leading companies owe their competitiveness to the reform process. Greater exposure to internal as well external competition proved to be instrumental in building confidence among the Indian companies to compete with foreign competitors in world market. Apart from liberalised policy environment for overseas investment, India has gained ground as an important investor on the back of (a) rapid economic growth, (b) easy access to financial resources and (c) strong motivations to acquire resources and strategic assets abroad.
