On a careful and conjoint reading of the Drawback Rules, it is found that there is no prohibition set out in the Drawback Rules, which debars an exporter from seeking determination of the Brand Rate of drawback under Rule 7 of the Drawback Rules, merely because at the time of export, he had already claimed the All Industry Rate of drawback under Rule 3 thereof. In fact, the Drawback Rules seem to suggest otherwise.
General Circular No. 45/2014 Dated: 18.11.2014 Extension of time for holding Annual General Meeting (AGM) under section 96(1) of the Companies Act, 2013-Companies registered in State of Jammu and Kashmir.
FM asks the People to Increase their Domestic Savings and Invest the Same in Small Savings Schemes Which are Simple, Safe and Easy to Access; Relaunches Kisan Vikas Patra Scheme; asks People to be Beware of Ponzi Schemes
In exercise of the powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2009-14, as amended from time to time, Director General of Foreign Trade hereby lays down the following procedure for export of certified organic products, in supersession of earlier Public Notice No. 72 (RE-2003)/2002-2007 dated 21.07.2004.
FM to Relaunch Kisan Vikas Patra (KVP); Available to the Investors in the Denomination of Rs. 1000, 5000, 10,000 and 50,000, with no Upper Ceiling on Investment; Investment made in the KVP will Double in 100 Months
It has been made explicit that where the claim for Duty Drawback is filed with reference to the rate in the AIR Schedule, an application for fixation of Brand Rate under Rule 7 of the Customs, Central Excise Duties and Service Tax Drawback Rules, 1995 shall not be
Order No. 209 of 2014 – Transfer/Posting in the grade of Commissioner of Income Tax – reg. Vide Order No. 209 of 2014 dated 15.11.2014, the CBDT has ordered the local transfer & posting of 465 officers in the grade of Commissioners of Income-tax. Order No. 207 of 2014 – Transfer/Posting in the grade of Additional/Joint Commissioner of Income Tax – reg. Vide Order No. 207 of 2014 dated 15.11.2014 , the CBDT has ordered the transfer & posting of officers in the grade of Additional / Joint Commissioners of Income-tax.
Constitutional validity of service tax levy on restaurant services has turned out to be one of the contentious issues. This issue has its origin somewhere in early 1980’s, when States proceeded to levy VAT on supply of food in hotels/restaurants treating it as sale.
At the time of registration under Section 12AA of the Income Tax Act, which is necessary for claiming exemption under Section 11 and 12 of the Act, the Commissioner of Income Tax is not required to look into the activities, where such activities have not or are in the process of its initiation.
Himachal Pradesh High Court in the case of CIT vs. M/s Indus Cosmeceuticals held that the condition of employing atleast 10 workers as required to be complied with for claiming deduction u/s 80IB cannot be deemed to have complied by employing workers for a small part of year.
