"14 September 2013" Archive

Duty Drawback Rates wef 21.09.2013 – Clarification

Circular No. 37/2013-Customs (14/09/2013)

As in previous years, the drawback rates have been determined on the basis of certain broad average parameters including, inter alia, prevailing prices of inputs, standard input output norms, share of imports in input consumption, the applied rates of ...

Read More

FAQs on Real Estate (Regulation and Development) Bill, 2013

1 Q :  Why need for regulation in real estate sector’? Ans:The real estate sector plays a  catalytic role in fulfilling the need and demand for housing and infrastructure in the country. While this sector has grown significantly in recent years, it has been largely unregulated, with absence of professionalism and standardization, and ...

Read More
Posted Under: Custom Duty |

Another Batch of 35,000 Letters to Income Tax Return Non Filers

As part of a massive exercise to identify high risk non-filers of Income Tax returns and ask them to file returns and pay taxes thereon, the Income Tax Department has sent letters to another batch of 35,000 non-filers this week. ...

Read More
Posted Under: Custom Duty |

Revised Rates of Duty Drawback Effective from 21st September, 2013

Notification No. 98/2013-Customs (N.T.) (14/09/2013)

The term article of leather in Chapter 42 of the said Schedule shall mean any article wherein 60% or more of the outer visible surface area (excluding shoulder straps or handles or fur skin trimming, if any) is of leather notwithstanding that such article is made of leather and any other material....

Read More

To amend Customs, Central Excise Duties & Service Tax Drawback Rules 1995

Notification No. 97/2013-Customs (N.T.) (14/09/2013)

(i) in rule 3, in sub-rule (1), in clause (v) of the second proviso, for the words and figures falling within heading 0401, 0402, 0403, 0404, 0405, 0406, 1006 or 3501, the words and figures falling within heading 1006 or on wheat falling within heading 1001 shall be substituted...

Read More

No Service Tax on Reimbursement of Expenditure

Rule providing service tax on reimbursement is ultra vi res the main provisions of the Service Tax law contained in the Chapter V of the Finance Act ,1994, particularly sections 66 , 67 and 94. ...

Read More
Posted Under: Custom Duty |

Basic Taxes (A Macro Overview of Income Tax)

Why tax is levied? The reason for levy of the taxes is because that they constitute the basic source of revenue to the government. Revenue that is raised through the collection of taxes is significantly utilized for ...

Read More
Posted Under: Custom Duty |

CPC, Bengaluru First Organization in World to Receive ISO 15489-1:2000 Certification

Record Management System at CPC, Bengaluru Receives ISO 15489-1:2000 Certification; Becomes First Organization in India and the World to Receive Such Certification Centralized Processing Center (CPC), Bengaluru, the flagship project of Income Tax Department with M/s.Infosys Limited as the Managed Service Provider, was awarded “ISO 15489...

Read More
Posted Under: Custom Duty |