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Archive: 11 July 2014

Posts in 11 July 2014

Budget 2014 – Resident private limited company can make application for Advance Ruling in Service tax

July 11, 2014 495 Views 0 comment Print

(a) private limited company shall have the same meaning as is assigned to private company in clause (68) of section 2 of the Companies Act, 2013 (18 of 2013); (b) resident shall have the same meaning as is assigned to it in clause (42) of section 2 read with sub-section (3) of section 6 of the Income-tax Act, 1961 (43 of 1961).

Govt. increases Custom duty on export of Bauxite from 10% to 20%

July 11, 2014 1403 Views 0 comment Print

the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.27/2011-Customs, dated the 1st March, 2011, published in the Gazette of India, Extraordinary, vide number G.S.R.153 (E), dated the 1st March, 2011,

Custom Duty reduced to 5% and CVD to Nil on machinery for initial setting up of solar energy production projects

July 11, 2014 805 Views 0 comment Print

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following

Budget 2014- Changes in Place of Provision of Services Rules, 2012

July 11, 2014 8366 Views 0 comment Print

Budget 2014- Changes in Place of Provision of Services Rules, 2012 Vide Notification No. 14/2014-ST Dated 11-7-2014 (Effective From 1-10-2014).

Amendment in Point of Taxation Rules in respect of Reverse Charge

July 11, 2014 11214 Views 0 comment Print

(a) if payment is made within a period of six months of the date of invoice, be the date on which payment is made; (b) if payment is not made within a period of six months of the date of invoice, be determined as if rule 7 and this rule do not exist.

Custom Duty reduced to 5% on machinery required for setting up of compressed bio-gas (Bio-CNG) projects

July 11, 2014 1751 Views 0 comment Print

n the opening paragraph, after the words “initial setting up of a project for generation of power”, the words, brackets and letters “or generation of compressed bio-gas (Bio-CNG)” shall be inserted;

Notification No. 12/2014-Customs, Dated: 11.07.2014

July 11, 2014 4130 Views 0 comment Print

Notification No. 12/2014- Customs Seeks to amend notification No. 12/2012-Customs, dated the 17th March, 2012 so as to make necessary changes in the specified entries therein.

Rate of interest for delayed payment of service tax wef 01.10.2014

July 11, 2014 72126 Views 0 comment Print

18 per cent. for the first six months of delay; 24 per cent. for the period beyond six months up to one year and 30 per cent. for any delay beyond one year.

Notification No. 11/2014-Customs Dated: 11.07.2014

July 11, 2014 6277 Views 0 comment Print

(i) soft switches and Voice over Internet Protocol (VoIP) equipment, namely, VoIP phones, media gateways, gateway controllers and session border controllers; (ii) optical transport equipments, combination of one or more of Packet Optica Transport Product or Switch (POTP or POTS), Optical Transport Network (OTN) products, and IP Radios; (iii) Carrier Ethernet Switch, Packet Transport Node (PTN) products

Reg. levy BCD @ 10% on specified telecommunication products not covered under ITA

July 11, 2014 1562 Views 0 comment Print

(i) soft switches and Voice over Internet Protocol (VoIP) equipment, namely, VoIP phones, media gateways, gateway controllers and session border controllers; (ii) optical transport equipments, combination of one or more of Packet Optical Transport Product or Switch (POTP or POTS), Optical Transport Network(OTN) products, and IP Radios; (iii) Carrier Ethernet Switch, Packet Transport Node (PTN) products, Multiprotocol Label Switching-Transport Profile (MPLS-TP) products;

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