Roll Back of Ban on Cotton Exports The Cotton Budget for the cotton year 2011-12 was prepared by the Cotton Advisory Board. In arriving at a Cotton Export Policy a balanced perspective is taken, carefully addressing the interests of all stakeholders including farmers, traders, yarn producers and the apparel industry.
The CBDT Chairman-led committee on combating the menace of black money has been given yet another extension and it is now expected to submit its final report by this month end. It is the third time that the deadline has been extended for the panel, which was constituted in May last year.
In partial amendment to clause 3 (h) of the aforesaid circular IMD/FII & C/37/2009, no single entity shall be allocated more than INR 450 cr. of the investment limit in each of above categories. Where a single entity bids on behalf of multiple entities, in terms of para 7 of SEBI circular CIR/IMD/FIIC/18 /2010 dated November 26, 2010, then such bid would be limited to INR 450 cr. in each of above categories for every such single entity.
Section 6-A of the Central Sales Tax Act, 1956 contains the provisions relating to transfer of goods otherwise than by way of sale. The dealer effecting the transfer of goods to any other place of his business or agent or principal is required to prove the transaction as transfer of goods otherwise than by way of sale by providing the declaration issued by his branch/agent/principal situated in other State. The declaration to be furnished is Form ‘F’ as per Rule 12(5) of CST Rules, 1957.
