"24 December 2014" Archive

Notification No. 34/2014-Customs Dated: 24.12.2014

Notification No. 34/2014-Customs 24/12/2014

(i) against S.No.51, for the entries occurring in column (4) against clauses (A), (B) and (C) of item II in column (3), the entry 7.5% shall respectively be substituted; (ii) against S.No.55, for the entry in column (4), the entry 7.5% shall be substituted; (iii) against S.No. 56, for the entry in column (4), the entry 15% shall be substi...

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CAG reports on incorrect valuation of excisable goods

During the course of this audit, we observed 25 cases of incorrect valuation of excisable goods with duty impact of Rs. 547.93 crore. These had not been detected by departmental compliance verification mechanisms prior to Central Excise Receipt Audit (CERA) pointing out the same....

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Posted Under: Custom Duty |

CAG Report on Central Excise Administration in Automotive Sector

The performance audit revealed certain inadequacies in the extant provisions, system as well as compliance issues relating to the assessment and collection of duty from the Automotive Sector....

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Posted Under: Custom Duty |

Non Cooperative Borrowers: A New Lending norms by RBI

Indian economy was witnessing a heavy turmoil in the previous years and in the current year also this is, to the some extent continuing. However, we are witnessing some comforts where the Whole- sale price index have come to zero and the consumer price index is much within the comfort level....

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Posted Under: Custom Duty |

Goods & Service Tax via Dual GST & GST Council Era – Part – I

Advocate Anandaday Misshra Goods & Service Tax (GST) is a regime of Uniform Tax. A regime in which  multiple indirect taxes will be the talk of past and indirect taxes will be subsumed in GST. A. Taxes to be Subsumed in GST The following taxes will be  subsumed under GST : Central Taxes 1.Central Excise Duty, […]...

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Posted Under: Custom Duty |

Scope of Secretarial Audit under section 204 of the Companies Act, 2013

PDII:CA-2013 ,  December 22, 2014 Section 204 requires every listed company and a company belonging to other class of companies as may be prescribed to annex with its Board’s report made in terms of sub-section (3) of section 134, a secretarial audit report, given by a company secretary in practice, in such form as may […]...

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Posted Under: Custom Duty |

Due date to Deposit Pre-2005 Currency Notes extended to June 30, 2015

Reserve Bank said that now the notes in Mahatma Gandhi series have been in circulation for a decade. A majority of the old notes have also been withdrawn through bank branches. It has, therefore, decided to withdraw the remaining old design notes from circulation. Not having currency notes in multiple series in circulation at the same tim...

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Posted Under: Custom Duty |

Candidates declared elected for ICSI Election to Council from NIRC

Pursuant to Notification No.1 of 2014 dated 91h September, 2014, the Election to the 12th Council of the Institute of Company Secretaries of India was held in accordance with section 9(2)(a) of the Company Secretaries Act, 1980 and the Company Secretaries (Election to the Council) Rules, 2006 on 12th and 139i December, 2014 at Delhi and M...

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Posted Under: Custom Duty |

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