"May, 2013" Archive - Page 2

CESTAT Enhances Monetary Limits for Single Member Bench

F.No. 17/CESTAT/Amendments/2013-CR (30/05/2013)

Consequent to the amendment in Section 129C(4) of the Customs Act 1962, Section 350(3) of the Central Excise Act 1944 and corresponding changes in provisions of the Finance Act 1994 by virtue of Section 86(7) thereof, the Single Member Jurisdiction stands enhanced to Rs. 50 Lacs. ...

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Comprehensive guidelines on Offer For Sale (OFS) of Shares by Promoters through the Stock Exchange Mechanism

CIrcular No. CIR/MRD/DP/17/2013 (30/05/2013)

This circular is being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market...

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SEBI circular on Eligible scrips for SLB

Citrcular No. CIR/MRD/DP/18 /2013 (30/05/2013)

In order to further extend the benefits of SLB and to facilitate efficient use of margin collateral, a review of the SLB framework was undertaken in consultation with Secondary Market Advisory Committee (SMAC). Accordingly, it has been decided to modify the extant SLB framework as under:...

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DVAT – Clarification regarding submission of Form DP-1 for online profile update

Circular No. 04 of 2013-14 (30/05/2013)

The purpose of taking the information in Form DVAT-07 and Form DVAT-52 is to update the dealers’ data with the department. To maintain up to date and accurate data of the dealers in the department records, Registration Certificates of the dealers are required to be amended. The amendment process is to be initiated either on dealer’s i...

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DVAT 51 reconciliation return Qtr 1 to 4 of 2011-12 extended to 10/06/2013

ORDER No.F.3(33)/P-II/ VAT/ Misc j2006/206-216 (27/05/2013)

No.F.3(33)/P-II/ VAT/ Misc j2006/206-216 , Dated: 27/05/2013 Sub-rule (1) of Rule 67 of the Delhi Value Added Tax Rules, 2005 and Rule 4 of the Central Sales Tax(Delhi) Rules, 2005 for furnishing of reconciliation return in Form DVAT-51; and,...

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CBDT announces Rules for notification of agricultural extension projects U/s. 35CCC

Notification No. 38/2013 - Income Tax (30/05/2013)

Notification No. 38/2013 - Income Tax In exercise of the powers conferred by section 295 read with sub-section (1) of section 35CCC of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:- 1. (1) These rules may be called the Inc...

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CBI arrests excise inspector from GOA in bribery case

CBI ARRESTS AN INSPECTOR OF CENTRAL EXCISE IN A BRIBERY CASE The Central Bureau of Investigation has arrested an Inspector of Central excise, Goa for demanding & accepting a bribe of Rs. 2700/- from the Complainant. A case was registered on 29.5.2013 against the Inspector, Central Excise, Bicholim, Goa on the basis of a complaint. [&h...

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Posted Under: Excise Duty |

Guidelines for Appointment of Statutory Auditors in Public Sector Banks wef Financial Year 2013-14

It has been decided to revise the guidelines on appointment of statutory auditors in public sector banks with effect from the year 2013-14. The revised eligibility norms for empanelment of SCAs as prescribed by RBI in consultation with the WG have been indicated in Annex 1....

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Posted Under: Excise Duty |

Power of ROCs to obtain declaration/affidavits from subscribers/first directors at incorporation

Circular No. 11/2013 (29/05/2013)

In exercise of the powers under the Companies Act, the Registrar of Companies may obtain declaration/affidavits from subscribers/first directors first at the time of incorporation and from directors, subsequently whenever company changes its objects...

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Writing off of arrears of Central Excise duty, Customs duty and Service Tax – Constitution of Committees to advise the authority for writing off of arrears-reg

Circular No. 971/05/2013-Central Excise (29/05/2013)

With this amendment, the authorities competent to write-off the arrears of Central Excise and the Commissioner of Service Tax are also delegated powers to write-off the arrears of Service Tax as well. Consequently, the constitution of the Committees for examining the proposals for write-off of irrecoverable arrears and recommending deserv...

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