"03 January 2014" Archive

Seeks to amend notification No. 121/2009- Customs dated 30th October, 2009 so as to change the name of a producer/ exporter

Notification No. 02/2014-Customs (ADD) 03/01/2014

Whereas, the designated authority vide notification F.No. 15/22/2013-DGAD, dated the 14th November, 2013, published in the Gazette of India, Extraordinary...

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Notification No. 01/2014-Customs (ADD) Dated: 03/01/2014

Notification No. 01/2014-Customs (ADD) 03/01/2014

In exercise of the powers conferred by sub-section (1) and (5) of section 9A of the Customs Tariff Act, 1975 (51 of 1975), read with rules 18 and 23 of the Customs Tariff ...

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French Economy Reports Growth As Euro Slumps

As the Euro slumps going into 2014, the French economy seems to be picking up. Reports are showing that the French economy has grown by 0.1% from July to September. Moreover, metrics later indicated that the growth topped out at 0.6%. All this while the Euro has been slumping against the U.S. dollar. How are these two things connected?...

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Posted Under: Custom Duty |

DGFT amends procedure for issue of Registration Certificates for export of various commodities

Notification No. 63 (RE-2013)/2009-14 03/01/2014

There are certain commodities for which online registration procedure has been prescribed for export. This was made mandatory with effect from 1st July, 2013. After filing online applications, exporters are required to furnish printout of the application submitted online alongwith hard copies of Letter of Credit [L/C] or Foreign Inward ...

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Regarding excise duty exemption to units in Jammu & Kashmir

Circular No. 977/01/2014-Central Excise 03/01/2014

It is, therefore, clarified that an existing unit which has availed of excise duty exemption under notification No.56/2002-CE & 57/2002-CE, both dated 14.11.2002 by way of substantial expansion can avail of excise duty exemption under notification No.1/2010-CE, dated 06.02.2010 again by way of second substantial expansion so long as it sa...

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Overseas Direct Investments – Rollover of Guarantees

RBI/2013-14/427 A.P. (DIR Series) Circular No.83 03/01/2014

Attention of the Authorised Dealer (AD - Category I) banks is invited the provisions of Notification No. FEMA.120/RB-2004 dated July 7, 2004 [Foreign Exchange Management (Transfer or Issue of any Foreign Security) (Amendment) Regulations, 2004] (the Notification), as amended from time to time....

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Accounting For Self Generated Certified Emission Reductions (CERS)

Whether it is assets or not - CERs is an asset because it qualifies definition of Assets given in ‘Framework for the preparation and Presentation of Financial Statements’, issued by the Institute of Chartered Accountants of India which is as follows:...

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Posted Under: Custom Duty |

Finance Ministry / TARC Invites Suggestions For Tax Reforms From Tax Payers

LETTER [F.NO. TARC/MEETING/1/2013-14] 01/01/1970

LETTER [F.NO. TARC/MEETING/1/2013-14], DATED 24-12-2013 Government has set up Tax Administration Reform Commission with a view to reviewing the application of Tax Policies and Tax Laws in India in the context of global best practices. The Commission will work as an advisory body to the Ministry of Finance and recommend measures for reform...

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Posted Under: Custom Duty |

Tax Benefit on Acquisition/ Installation of New Plant/ Machinery

f any new asset acquired and installed (emphasis ours) by the assessee is sold or otherwise transferred, except in connection with the amalgamation or demerger, within a period of five years from the date of its installation, the amount of deduction allowed under sub-section (1...

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Posted Under: Custom Duty |

CMA Examination – Rank List June 2013

Rank List of FINAL Exam (June-2013 Term). Rank List of INTERMEDIATE Exam (June-2013 Term) Important announcement regarding rank certificate: “The Rank Certificate for December 2012 and June 2013 term will be awarded to the candidate during annual student convocation 2014. The details of annual student convocation will be uploaded soon....

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Posted Under: Custom Duty |

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