"16 February 2015" Archive

Removal of Capital Goods – All is not yet clear

Removal of capital goods has always been an arena of litigation. The various issues cropped up during litigation includes whether capital goods removed as such or after use? Whether Excise Duty is payable or not? If Excise Duty is payable, whether on depreciated value or on transaction value....

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Posted Under: Excise Duty |

Is It True: Time Is Money?

Now days everyone is busy like never before. You will not see a single person (Including a small kid) with free time. Area where a person spends time varies from person to person. One thing which GOD has kept common between all of us is the amount of time available with us. Now in provided time span of 24 Hours everybody is earning their ...

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Posted Under: Excise Duty |

Notification No. 24/2015-Customs (N.T.) Dated- 16th February, 2015

Notification No. 24/2015-Customs (N.T.) (16/02/2015)

(a) after the second proviso, the following proviso shall be inserted, namely:- Provided also that Bhogat port is appointed to be coastal port for carrying on of coastal trade in crude petroleum...

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Companies (Indian Accounting Standards) Rules, 2015

Notification No. G.S.R . 111(E) (16/02/2015)

Ministry of Corporate Affairs notifies Roadmap for applicability of Indian Accounting Standards (Ind AS) for compliance by companies specified in roadmap. ...

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CBDT notifies Godrej Agrovet Limited Agricultural Inputs Extension Project-Section 35CCC

Notification No. 16/2015 - Income Tax (16/02/2015)

Notification No. 16/2015 - Income Tax The approved entity undertaking agricultural extension project shall maintain separate books of account of the agricultural extension project notified under sub-section (1) of section 35CCC, and get such books' of account audited by an accountant as defined in the Explanation below sub-section (2) of...

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CBDT notifies Godrej Agrovet Limited Animal Feed Extension Project-Section 35CCC

Notification No. 15/2015 - Income Tax (16/02/2015)

Notification No.15/2015 - Income Tax 10. Conditions subject to which agricultural extension project titled 'Animal Feeds Extension Project' is being notified are as under: i. The approved entity undertaking agricultural extension project shall maintain separate books of account of the agricultural extension project notified under s...

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Section 35CCC – CBDT notifies Godrej Agrovet Limited Oil Palm Extension Project

Notification No. 14/2015 - Income Tax (16/02/2015)

Notification No. 14/2015 - Income Tax The approved entity undertaking agricultural extension project shall maintain separate books of account of the agricultural extension project notified under sub-section (1) of section 35CCC, and get such books of account audited by an accountant as defined ...

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RBI exempts Core Investment Companies from becoming members of CICs

RBI in the year 2010 came out with the circular[1] according to which all NBFCs were required to provide current and historical data on borrowers to Credit information Companies (CICs). Now vide notification[2] dated January 28,2015, RBI has exempted NBFCs which are registered as Core Investment Companies and those not having any customer...

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Posted Under: Excise Duty |

Cricket and Income Tax- what is similarity?

Krishna, the 11th Cricket World Cup has been started in Australia. In these days 14 countries will compete against each other. In Cricket there is competition between two teams for winning. So please explain similarity between Cricket and Income tax in a sporty way that can be learnt with joy and in a playful manner....

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Revision in Appendix 37 A of Handbook of Procedure Volume I

Public Notice No. 86 (RE-2013)/2009-2014 (16/02/2015)

Effect of Public Notice: Product description and ITC HS codes of certain items mentioned in Appendix 37-A, Vishesh Krishi Gram Udyog Yojana (VKGUY) Table 2 of HBP v1 have been amended to bring more clarity. The benefits of VKGUY on exports made between 25th February 2014 and the date of issue of this Public Notice, for items mentioned at ...

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