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Archive: November, 2014

Posts in November, 2014

Modification of SION A-1475 and SIONs A-1839, A-1841 and A-1842

November 20, 2014 688 Views 0 comment Print

In exercise of the powers conferred under paragraph 2.4 of the Foreign Trade Policy, 2009-2014 and paragraph 1.1 of Handbook of Procedure (Vol. I) the Directorate General of Foreign Trade hereby notifies modification in SION A-1475 and SIONs A-1839, A-1841 and A-1842 as under.

A.O. is not only an adjudicator but also an investigator

November 19, 2014 2399 Views 0 comment Print

It is settled law that that frequency and magnitude of transaction are also important factor to decide whether the transaction is business transaction or investment transaction. Now in our considered opinion, the magnitude of share transaction in this case does call for any enquiry

SEBI to strengthen Insider Trading Regulations & to bring more clarity

November 19, 2014 1505 Views 0 comment Print

The FVCI Regulations till now did not allow investments in NBFCs except Equipment Leasing and Hire Purchase Companies. To encourage investments in infrastructure, the Board approved amendments in FVCI Regulations to allow FVCIs to invest in NBFC-CIC (Core Investment Companies), as defined by RBI

DGFT -Import Policy of Scheduled Chemicals

November 19, 2014 597 Views 0 comment Print

The notification makes it mandatory for the importers of chemicals listed at Category 1A, 1B & 1C of Appendix 3 (SCOMET list) to Schedule 2 of ITC (HS) Classification of Export and Import Items to notify the details of such imports to DGFT, NACWC and Department of Chemicals and Petrochemicals within 30 days from the date of their importation.

Number of Subscribers Registered Under National Pension System (NPS) has more than Doubled

November 19, 2014 1566 Views 0 comment Print

Since April 2012 from about 11.5 Lakh to 23 Lakh:Chairman,Pfrda ; Number of States Joining NPS has Increased from 12 to 26 ; Pfrda Working Towards Notification of Various Regulations in Respect of Efficient Management of Funds, Seamless Grievance Handling and Systems for Risk Mitigation and Containment Among Others

Income tax calculator for Financial year 2014-15

November 19, 2014 43581 Views 0 comment Print

Auto Income tax calculator Financial year 2014-15 / Assessment year 2015-16- This Latest Income Tax Calculator for Financial Year 2014-15 is simple Income tax calculator in excel format. This tax calculator will help you to calculate the Income Tax and clear any related rule in very less time & less efforts.

Favourable Shell Verdict – A Launchpad for Restoring Global Investors’ Confidence?

November 19, 2014 1953 Views 0 comment Print

Comment on Shell’s wins of transfer pricing tax dispute in Bombay HC The aggressive approach of tax authorities and the earlier government in case of Vodafone and Shell led to erosion of confidence of global investors. In this context, the favourable decision of H’ble Bombay High Court in case of Shell India Markets Private Limited […]

Reversed Cenvat credit can be re-taken even after six months

November 19, 2014 18982 Views 0 comment Print

The CBEC has issued circular No. 990/14/2014-CX-8 dt. 19/11/2014, wherein it has clarified that the cenvat reversed or amount paid for reversal in respect of cenvat credit wrongly availed where the conditions relating to availment of cenvat credit were not fulfilled, can again be claimed as input credit on the fulfilment of prescribed conditions even after six months from the date of issue of a document (i.e invoice challan etc) prescribed under rule 9(1) of Cenvat Credit Rules’2004.

No time limit for re-credit of CENVAT

November 19, 2014 18871 Views 1 comment Print

Circular No. 990/14/2014-CX-8 Dated- 19th November, 2014 Sub: Clarification regarding availment of CENVAT credit after six months-reg. Attention is invited to the Notification of the Government of India in the Ministry of Finance, Department of Revenue No. 21/2014-CE (NT) dated 11.07.2014, vide which, inter alia, amendment was made in Rule 4(1) and 4(7) of CENVAT Credit Rules, 2004 (CCR, 2004) to prescribe that manufacturer or output service provider shall not take CENVAT credit after six months of the date of issue of any of the documents specified in sub-rule (1) of Rule 9.

India's Import/export regulation for items under Crime Control (CC) & Regional Security (RS) of USA

November 19, 2014 727 Views 0 comment Print

In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy, 2009-14, the Director General of Foreign Trade hereby makes the following addition in para 2.11 of the of the Handbook of Procedures (HBP) under 2.11 (c), to be read as 2.11(d); 2.11 (e) and 2.11(f) with immediate effect.

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