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Archive: 16 April 2015

Posts in 16 April 2015

Anti-dumping duty on import of Acetone, originating in or exported from Chinese Taipei and Saudi Arabia

April 16, 2015 2069 Views 0 comment Print

G.S.R. (E). –Whereas, in the matter of ‘‘Acetone’ (hereinafter referred to as the subject goods), falling under Chapter 29 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act), originating in, or exported

Simplification of SEZ Rules- Inter Unit Transfers – regarding

April 16, 2015 4923 Views 0 comment Print

Instruction No. 84/SEZ, Dated : April 16, 2015 With a view to promote the ease of doing business further, it is advised that SEZ Units are now allowed to remove goods for repair, replacement, testing, calibration, quality testing and research and development purposes also on selfattestation basis under intimation to the Specified Officer and on giving an undertaking to the Authorised Officer for return of such goods. A record of these will be maintained by the unit as per SEZ Rules.

Notification No. 42/2015 – Income Tax Dated 16.4.2015

April 16, 2015 583 Views 0 comment Print

Notification No. 42/2015 – Income Tax It is hereby notified for general information that the organization Institute of Chemical Technology, Nathalal Parekh Marg, Matunga, Mumbai (PAN – AAATI4951J) has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and SE of the Income-tax Rules, 1962 (said Rules)

Pros and Cons of Incorporation of One Person Company (OPC)

April 16, 2015 14867 Views 4 comments Print

CS Mohit Saluja With the enactment of Companies Act, 2013 w.e.f. April 1, 2014, a new concept called “ONE PERSON COMPANY (OPC)” also came into existence. The legislature were of the view that OPC shall have an edge over the other companies in relation to the benefits being earned w.r.t. holding of Board Meetings/ General […]

Banks can issue FDs exceeding 15 lakhs without option of pre-mature withdrawal at differential interest rates

April 16, 2015 1358 Views 0 comment Print

In this connection, attention is invited to paragraph 29 of sixth Bimonthly Monetary Policy Statement- 2014-15 announced on February 3, 2015 whereby it was decided to introduce the feature of early withdrawal facility in a term deposit as a distinguishing feature for offering differential rates of interest. Accordingly, banks will have the discretion to offer differential interest rates based on whether the term deposits are with or without-premature-withdrawal-facility, subject to the following guidelines:

DGFT-Restoration of facility of acceptance of Demand Draft towards application fee/ penalty/ any other fee

April 16, 2015 961 Views 0 comment Print

The application fee/ penalty/ any other fee shall be deposited in the following manner:- (1) By Demand Draft, in favour of the Head of the concerned Regional office of DGFT, or by depositing cash or cheque for Treasury Receipt Challan (TR) in an authorized Branch of Central Bank of India indicating the Head of Accounts 1453 -Foreign Trade and Export Promotion- Minor Head 102-Import License Application Fee

Rate of exchange of conversion of each of foreign currency wef 17.04.2015

April 16, 2015 1900 Views 0 comment Print

NOTIFICATION NO. 38/2015-CUSTOMS (N.T.), Dated : April 16, 2015 Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currency specified in column (2) of each of Schedule I and Schedule II annexed hereto into Indian currency or vice versa shall, with effect from 17th April, 2015 be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods.

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