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Archive: 08 January 2014

Posts in 08 January 2014

DGFT : Procedure for processing of claims in respect of realization of export proceeds through insurance agency

January 8, 2014 405 Views 0 comment Print

An applicant realizing export proceeds through Insurance Agency will approach the concerned RA with the proof of payment issued by the concerned Insurance Agency. RA after satisfying itself of the bona fide of the claim, will obtain approval of Additional DGFT (EDI) and then will upload the value (in lieu of eBRC value) in EDI system of DGFT for processing of the case.

EDI Procedure for claiming benefits in respect of Third Party exports

January 8, 2014 357 Views 0 comment Print

In exercise of the powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2009-14, the Director General of Foreign Trade hereby introduces two new Paragraphs 9.14 & 9.15 in the Handbook of Procedures (Vol. I) 2009-14 for claiming benefit of Third Party exports under EDI system and for conversion of currencies into US$ with immediate effect as under.

Delhi VAT : Regarding Sting operation by news channel "Aaj Tak"

January 8, 2014 1213 Views 0 comment Print

A sting operation was telecast on 6/01/2014 by news channel Aaj Tak, wherein serious allegations about corrupt practices in the Department have been alleged by an agent.

FAQs on SEBI (Foreign Portfolio Investors) Regulations, 2014

January 8, 2014 857 Views 0 comment Print

These FAQs are prepared with a view to guide market participants on SEBI (Foreign Portfolio Investors) Regulations, 2014 (the Regulations). For full particulars of laws governing the Foreign Portfolio Investors (FPI), please refer to the

Removal of inputs/capital goods as such – when to pay the amount of CENVAT Credit?

January 8, 2014 1003 Views 0 comment Print

in sub-rule (5C), after the words “production of said goods”, the words “and the CENVAT credit taken on input services used in or in relation to the manufacture or production of said goods” shall be inserted;

TDS / TCS : CBDT Releases new version 3.8 of Return Preparation Utility (RPU)

January 8, 2014 24580 Views 0 comment Print

The new version 3.8 of the Return Preparation Utility (RPU) features following significant changes from the previous: Discontinuation of functionality to delete Deductee records: For the purpose of correct reporting, deletion of Deductee rows is no longer permissible in the TDS statements. Accordingly, the delete option available under “Updation mode for Deductee” has been removed from the RPU.

Conditions for import of customized Cars/Motorcycles and parts thereof required for race events

January 8, 2014 757 Views 0 comment Print

A new Policy Conditions No. 10 is added to Chapter 87 of ITC (HS), 2012 Schedule-1 (Import Policy) for facilitating the import of customized Cars/Motorcycles and parts thereof required for the race events.

Lending Against Security of Single Product – Gold Jewellery

January 8, 2014 385 Views 0 comment Print

In view of the moderation in the growth of gold loan portfolios of NBFCs in the recent past, and also taking into consideration the experience so far, it has been decided to raise the LTV ratio to upto 75 percent for loans against the collateral of gold jewellery from the present limit of 60 percent with immediate effect.

RBI releases Report of the Committee on Comprehensive Financial Services for Small Business and Low Income Households

January 8, 2014 325 Views 0 comment Print

The Reserve Bank of India has today released on its website for public comments, the Report of the Committee on Comprehensive Financial Services for Small Business and Low Income Households and additional comments from two members in this regard. The Comments may be emailed or sent by post to the Principal Chief General Manager, Rural […]

RBI : Regulation Must keep Pace with Changing Dynamics of Commodities Market

January 8, 2014 348 Views 0 comment Print

The high and volatile global commodity prices have posed considerable challenges to the domestic monetary policy in several commodity importing countries. In this context, the paper investigates the role of financialisation of commodity markets (captured by speculative trading), global liquidity (private and official) and fundamental factors (emerging market demand) behind global commodity price inflation.

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