The Cabinet Committee on Economic Affairs has approved the proposal of the Department of Industrial Policy & Promotion for permitting foreign investment up to 49 percent, in Power Trading Exchanges.
The Cabinet Committee on Economic Affairs has approved the proposal of the Department of Industrial Policy and Promotion for permitting foreign airlines to make foreign investment, up to 49 percent in scheduled and non-scheduled air transport services.
Trade Notice No. 04/2012 Issue of import license by RAs of DGFT would commence from 17th September 2012 & end on 20th September 2012. In case any applicant/firm is found to have submitted false or erroneous information or have made any misdeclaration / misrepresentation, such applicant / firm, (a) shall forfeit the allocation made in this Trade Notice,
It has come to the notice of the Reserve Bank of India (RBI) that a fraudulent email has been sent and signed in its name as `Reserve Bank of India’. The mail has referred to provisions of Banking Regulation act, 1949 and Prevention of Money Laundering Rules, 2005
The applicant were discharging their Service Tax liability in respect of tuition fee being charged by them from their students. Their premises were visited by the officers on 7.1.2010 and scrutiny of various records maintained by the appellants revealed that no Service Tax was being paid by them on pre-schooling coaching, sale of text books, conducting of mock test series etc.
The entire transactions of purchase/sale of securities/shares through derivatives and later on dealing with those shares/securities will determine whether an investment is made or stock-in-trade is procured.
It may be recalled that the Bank had issued the captioned Directions on July 23, 2012. In continuation, notifications amending the Non-Banking Financial (Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007,
We have referred to the aforesaid note in detail for two reasons. Firstly, the note reveals that the Assessing Officer felt that the case required detailed scrutiny or monitoring, verification of entries, which were substantial in number. Detailed scrutiny of large number of entries by itself, on standalone basis, will not amount to complexity of accounts.
Notification No. 81/2012-CUSTOMS (N. T.), Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs (N.T.), dated the 3rd August, 2001, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S. O. 748 (E), dated the 3rd August, 2001, namely:-
Excise Duty on Petrol Reduced and Diesel Hiked- Effective rate of excise duty on Petrol has been reduced from Rs. 6.35 to Rs.1.20 and on Diesel, hiked from ‘nil’ to Rs. 1.46.
