"12 November 2013" Archive

Amendment Notification No. 36/2001-Customs (N.T.), dated the 3rd August, 2001

Notification No. 110/2013-Customs (N.T.) (12/11/2013)

In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby ...

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Notification No. 29/2013-Customs (ADD) Dated: 12/11/2013

Notification No. 29/2013-Customs (ADD) (12/11/2013)

in the matter of continuation of anti-dumping duty on Phenol, falling under chapter 27 or 29 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), originating in, or exported from, South Africa imposed vide notification of the Government of India, in the Ministry of Finance (Department of Revenue),No. 10/2013-Customs, dated...

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Notification No. 28/2013-Customs (ADD) Dated: 12/11/2013

Notification No. 28/2013-Customs (ADD) (12/11/2013)

Whereas, the designated authority vide notification No. 15/20/2013-DGAD, dated the 17th October, 2013, published in the Gazette of India, Extraordinary...

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Anonymous donations U/s. 115BBC will not entail levy of interest U/s. 234B and penalty U/s. 271(1)(c)

Sometime back, I had to deal with a case of a charitable institution which is running a number of educational institutions. For one assessment year, certain donations received by the trust were disclosed as anonymous donations, as per the provisions of section 115BBC of the Income-Tax Act, 1961 (the Act). As per section 115BBC(1)(i), the ...

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Posted Under: Custom Duty |

FAQs on Custom Duty Valuation Laws in India

Q1. What is Customs Value? Ans: Customs Value means the value of goods for the purposes of levying ad valorem duties of customs. Ad valorem duties of customs are duties levied according to the value of goods and are usually expressed as percentages of value. ...

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Posted Under: Custom Duty |

Assessee discharges his initial onus if he duly furnishes PAN, B/S, COI, Confirmation & bank a/c of creditor

Shri Arihant Jain Vs Income Tax Officer (ITAT Delhi)

Where, the assessee, apart from furnishing the permanent account number of the creditor, has also furnished their balance sheet, copy of income tax return, confirmation, bank account etc. The amount advanced to the assessee is duly disclosed in the balance sheet of all the creditors. ...

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S. 14A Mere incorporation &receipt of share application money cannot be said to be commencement of business

Holcim (India) Pvt. Ltd. Vs DCIT (OSD) Cir. 12(1) (ITAT Delhi)

That mere incorporation and receipt of share application money cannot be said to be commencement of the business. Neither any interest income has been earned from against advances nor any goods or services been obtained....

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Brief On Customs Valuation in India

ection 2(41) of the Customs Act, 1962 defines ‘Value’ in relation to any goods to mean the value thereof determined in accordance with the provisions of sub-section (1) of Section 14 thereof. The provisions of sub-section (1) of Section 14 apply for the valuation of both imported goods and export goods....

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Posted Under: Custom Duty |

Enhancement in registered quantity for export of sugar to 50,000 MTs

Policy Circular No. 10 (RE-2013)/200 (12/11/2013)

Conditions and modalities for registration of contracts for export of sugar with DGFT were given in the two policy circulars referred above. One of the conditions [condition at Para 2(i) of Policy Circular No. 63 dated 16.05.2012] was the upper limit of 25,000 MTs...

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Delhi VAT: Delegation Of Powers Vested In Commissioner (VAT)

Order No.F.6(7)/DVAT/L&J/2013-14/748 (12/11/2013)

Delhi Value Added Tax Rules, 2005 do hereby delegate my powers specified in column Nos. 3 under Section mentioned in column no. 2 to the Officers specified in column 4 of the table appended below and direct that these officers shall exercise the powers and perform the duties concomitant with such powers, within their respective jurisdicti...

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