Notification [F. No.334/1/2012 -TRU], dated 29-6-2012 In the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 30/2012- Service Tax, dated the 20th June, 2012 published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i) vide number G.S.R. 472 (E), dated the 20th June, 2012, in para I, in clause (A), in sub-clause (iv), in item (B),-
In the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 31/2012-Service Tax, dated the 20th June, 2012 published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i) vide number G.S.R. 473 (E), dated the 20th June, 2012, in the proviso, in clause (d),-
The following are the salient features of the Companies Bill, 2011:- (i) E-Governance:- Maintenance and allowing inspection of documents by companies in electronic form being allowed for the first time. (ii) Concept of Corporate Social Responsibility is being introduced. (iii) Enhanced Accountability on the part of Companies:
While incorporating the several recommendations of the Standing Committee on Finance, as also some of the suggestions/ representations received subsequent to submission of report of Committee, the provisions of the Companies Bill, 2009 were revised and a fresh Bill was formulated as Companies Bill, 2011 and introduced in Lok Sabha on 26.06.2012. A statement indicating the changes made and the new provisions introduced has been submitted by the Ministry as below : –
With a view to further improve the delivery of Tatkal tickets to passengers, the Ministry of Railways has decided that with effect from 10.07.2012 booking of Tatkal ticket will start at 1000 hours on the previous day of journey from train originating station instead of 0800 hours at present.
Instruction D.O.F. No. 334/1/2012 Applicability of provisions of Finance Act, 2004 and 2007 relating to education cess and secondary & higher education cess respectively. There has been some doubt regarding the applicability of provisions of the Finance Act, 2004 relating to education cess and the Finance Act, 2007 relating to secondary and higher education cess as the concerned acts make reference to section 66 of the Finance Act, 1994, which shall cease to have effect from July 1, 2012.
The Ministry of Railways has released its new All India Railway Time Table known as TRAINS AT A GLANCE (TAG) which has come into effect from 1st July, 2012. In addition to this All India Time table, all the 17 zonal Railways have also released their zonal railway time tables which too have come into effect from 1st July, 2012. Passengers are advised to refer to the new timings w.e.f. 1st July 2012 before starting the journey. The new Trains at a Glance will also be shortly uploaded on Railways’ official website i.e. www.indianrailways.gov.in.
ORDER NO. 2/2012, Service Tax (Removal of Difficulties) Second Order, 2012 – Insertion of Explanation to section 66B of the Finance Act, 1994 Whereas difficulties have arisen in giving effect to the provisions of section 143 of the Finance Act, 2012 (23 of 2012), in so far as it relates to insertion of section 66B in Chapter V of the Finance Act, 1994 (32 of 1994);
The Central Board of Direct Taxes (CBDT), Ministry of Finance has invited comments/suggestions on the Draft Guidelines regarding implementation of General Anti Avoidance Rules (GAAR) in terms of Section 101 of The Income Tax Act, 1961.The Draft GARR Guidelines were issued yesterday along with the relevant Annexures. All these details are available on the Departmental websites- www.pib.nic.in, www.finmin.nic.in, www.incometaxindia.gov.in and www.irsofficersonline.gov.in.
Notification No. 41/2012-ST, the rebate shall be granted by way of refund of service tax paid on the specified services. specified services means- (i) in the case of excisable goods, taxable services that have been used beyond the place of removal, for the export of said goods; (ii) in the case of goods other than (i) above, taxable services used for the export of said goods;
