"14 December 2012" Archive

Notification of Dahanu Port for unloading of imported coal by M/s. Reliance Infrastructure Ltd.

Notification No. 110/2012-Customs (N.T.) (14/12/2012)

S. O. _____ E).- In exercise of the powers conferred by clause (a) of sub-section (1) of section 7 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 62/94-Customs ...

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HC Explains 3 Criteria to judge if an entry is accommodation entry or not?

Commissioner Of Income Tax Vs Youth Construction Pvt. Ltd. (Delhi High Court)

The Revenue preferred an appeal to the Tribunal in ITA 398/Del/2006. As seen from paragraphs 6 & 7 of the impugned order of the Tribunal, the Revenue disputed before the Tribunal the contention of the assessee that it had furnished the confirmation letters from the share applicants along with their income tax details, statement of bank ac...

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CAG Empanelment for FY 2013-14 to Start from 01.01.2013

The format of application will be available on our website: www.cag.gov.in from 1st January 2013 to 15th February 2013. Chartered Accountant firms can apply/update the data showing the status of their firm as on 1st January 2013 and generate online acknowledgement letter for the year. ...

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Posted Under: Custom Duty |

Check Your Bank Cheques

The banking practice shall soon change for all of us when the new cheque regime comes into force w.e.f. January 1, 2013. India shall be migrating to new cheque truncation system, popularly called CTS with the objective of making inter-bank transactions and money related transactions faster, cheaper and safer....

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DVAT – Set top boxes provided by cable operator on lease liable to VAT

Circular No. 25 of 2012-13 (14/12/2012)

The set top boxes are being supplied to the cable users by the cable operators on lease basis against refundable securities. It is reported that these operators are not paying VAT on these transactions terming the same as entrustment, thereby denying the state of its legitimate right to impose VAT on these transactions....

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Members Regional Convention on International Taxation-2012

Vasai Branch of WIRC of ICAI is hosting  Members Regional Convention on International Taxation-2012 to share knowledge of Basic Principles of international taxation to the Related Controversial Issues in International Taxation including Cross Border Transactions. The date of the event is  Friday 21st & Saturday 22nd December, 2012 a...

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Posted Under: Custom Duty | ,

FEMA – Review of ECB Policy – Applicability of all-in-cost ceiling extended till 31-03-2013

A.P. (DIR SERIES 2012-13) CIRCULAR NO. 60 (14/12/2012)

It has been decided that the all-in-cost ceiling as specified in A.P. (DIR Series) Circular No. 99 dated March 30, 2012 will continue to be applicable till March 31, 2013 and subject to review thereafter. All other aspects of ECB policy remain unchanged....

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A Round Table on Corporate Regulation

Deliberating upon various contours of corporate regulation, experts at a High Level Round Table here today agreed that new age corporate regulation has to be growth oriented, transparent and inclusive. The Round Table, organised by the Indian Institute of Corporate Affairs (IICA, under the aegis of the Ministry of Corporate Affairs) and G...

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Posted Under: Custom Duty |

Anti-dumping duty on imports of Cable Ties from China and Taiwan – Reg.

Notification No. 56/2012-Customs (ADD) (14/12/2012)

Notification No. 56/2012-Customs (ADD) Seeks to modify final anti-dumping duty on imports of Cable Ties, originating in, or exported from the People’s Republic of China and Taiwan and imported into India, imposed vide Notification No. 44/2009-Customs dated 30th April, 2009...

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Bank should not levy penalty on conversion of one Term deposit in other

RBI /2012-13/334 RPCD.RRB.BC.No.52/03.05.33/2012-13 (14/12/2012)

As per extant instructions on Interest Rates on Deposits, RRBs on request from the depositor, should allow closure of a term deposit, a deposit in the form of daily deposit or recurring deposit, to enable the depositor to immediately reinvest the amount lying in the aforesaid deposits with the same bank in another term deposit. ...

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