Notification No. 20/2012-Service Tax, In exercise of the powers conferred by the proviso to section 65 of the Finance Act, 1994(32 of 1994), the Central Government hereby appoints the 1st day of July, 2012 as the date with effect from which the provisions of the said section 65 of the said Act shall not apply, except as respects things done or omitted to be done before the said section 65 so ceases to apply.
These rules may be called the Companies Director Identification Number (Second Amendment) Rules, 2012. (2) They shall come into force with effect from 11th June, 2012. 2. In the Companies (Director Identification Number) Rules, 2006, in form DIN-1, after serial number 4, the following serial number shall be inserted, namely:-4A. Whether resident in India Yes / No”
Notification No. [F.No. 1/1/2011-CL.V]-Income Tax 1. . ( 1) These rules may be called the Limited Liability Partnership ( Amendment) Rules, 2012. (2) They shall come into force with effect from 11th June. 2012. 2. In the Limited Liability Partnership Rules, 2009 (hereinafter referred to as the said rules). after rule 8 the following proviso shall be inserted namely:
ORDER NO. 104 OF 2012 – The following transfers/postings in the grade of Additional/Joint/Deputy/Assistant Commissioners of Income Tax, is hereby ordered with immediate effect and until further orders:
1. In Appendix 37A of Vishesh Krishi and Gram Udyog Yojana (VKGUY), the following products are deleted from Table 2 with immediate effect:
At present, for claiming benefits under various schemes of Foreign Trade Policy, exporters have to obtain Bank Realisation Certificate (BRC) from banks in the existing formats prescribed at Appendix 22A (physical exports) and 22B (deemed exports) of Handbook of Procedure -Vol.1(Appendices and Aayaat Niryaat Forms) and submit the same to the Directorate General of Foreign Trade (DGFT) manually. With the introduction of electronic BRC system, banks will issue and transmit BRC’s electronically to DGFT’s server replacing the manual mode of obtaining and submitting BRC. The revised process flow with technical guidelines are available on the DGFT’s website dgft.gov.in under the ‘e-BRC’ icon.
PUBLIC NOTICE No. 1 (RE-2012)/ 2009-2014 In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2009-2014, the Director General of Foreign Trade hereby notifies the Handbook of Procedures (Volume I). This shall come into force from 5th June, 2012. (Anup K. Pujari)
Under the online Application Tracking System (ATS), customers can submit applications online and also track the status of an already filed / submitted application. The applicant would be required to login with email id and password as registered with the RBI website. In respect of those applications, being submitted physically at the counters of the Foreign Exchange Department, a valid email id is required to be indicated in the letter / application. An auto generated information will be sent to the email id given upon receipt of an application and also at the time of disposal of an application by the Department. Status of all letters / applications (other than statements and returns) requiring a reply from the Foreign Exchange Department can be tracked by accessing the ATS. ATS can easily be accessed on the homepage of RBI (www.rbi.org.in).
RBI abolishes foreclosure charges/pre-payment penalties on floating interest home loans – Though many banks have in the recent past voluntarily abolished pre-payment penalties on floating rate home loans, there is a need to ensure uniformity across the banking system. It has, therefore, been decided that banks will not be permitted to charge foreclosure charges/pre-payment penalties on home loans on floating interest rate basis, with immediate effect.
Vide Notification No.15/2012-Service Tax dated 17.03.2012, the Ministry of Finance had specified that in respect of services provided by an individual advocate, Goods Transport Agency, Insurance Agent, services provided or agreed to be provided by way of sponsorship to any business entity, in respect of services provided or agreed to be provided by an arbitral tribunal etc, the service-tax payable shall be Nil and that the person receiving the service shall pay 100% of the tax. This Notification is to come into force from the date on which section 66B of the Finance Act, 1994 comes into effect. S. 66B of the Finance Act, 1994 has been inserted by clause 143 (F) of the Finance Bill 2012. Vide Notification No. 19/2012 dated 5.6.2012, 1.7.2012 has been appointed as the date on which s. 143(F) of the Finance Act 2012 shall come into force. The result is that Notification No. No.15/2012-Service Tax dated 17.3.2012 shall come into effect on 1.7.2012.
