"07 October 2015" Archive - Page 2

Govt. moves Export of seed quality rice from ‘Free’ to ’Restricted’ category

Notification No. 23/2015-2020 07/10/2015

Notification No. 23/2015-2020 1. Export to be made by private parties from privately held stocks. State Trading Enterprises (STEs) including M/s. NCCF & NAFED are also permitted to export privately held stocks of non-Basmati rice....

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India better placed to handle unforeseen external shocks

Despite the global slowdown and declining export demand, India has emerged as the fastest growing major economy in the world. While the government continues to implement its reform agenda, the economy should over time realize its 8 percent plus growth potential. With supportive policies in place, India is emerging as a strong growth drive...

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Posted Under: DGFT |

CENVAT Credit (Fourth Amendment) Rules, 2015

Notification No. 21/2015-Central Excise (N.T.) [G.S.R. 764(E)] 07/10/2015

Notification No. 21/2015-Central Excise (N.T.) - In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944) and section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the CENVAT Credit Rules, 2004, namely:...

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PM approves Amendment in DTAA between India and Vietnam

Protocol amending the Agreement between India and Vietnam for the avoidance of double taxation and for prevention of fiscal evasion with respect to taxes on income The Union Cabinet chaired by the Prime Minister Shri Narendra Modi, has approved the Protocol amending the Agreement between India and Vietnam for the avoidance of double taxat...

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Posted Under: DGFT |

PM approves Amendment in DTAA between India and Israel

The Protocol provides for internationally accepted standards for effective exchange of information on tax matters including bank information and information without domestic tax interest. It is further provided that the information received from Israel in respect of a resident of India can be shared with other law enforcement agencies wit...

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Posted Under: DGFT |

Compliances … Not Just Legal … It’s A Way To Credibility

Managing regulatory challenges in a Global Marketplace obviously makes one think of more headaches and more work; anxiety for the unknown, complexities around it, the fear of recall, penalties and prosecutions. The Author resonances that Compliances are the partner to Business Excellence. Compliance is an integral part of strategic busine...

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Posted Under: DGFT |

Monitor delays in giving effect to orders of CIT (Appeals) : CBDT

F. No. 279/Misc/141/2015-ITJ 07/10/2015

Instruction No. 8 of 2011 contains timelines for filing appeals before the ITAT and giving effect to the order of CIT(A). Even while the Department seeks to implement a non-adversarial regime, grievances are being received on account of delays in giving effect to the orders of CIT(A)....

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CBI files chargesheet against then Commissioner of Customs

The Central Bureau of Investigation has filed a chargesheet against then Commissioner of Customs, ICD, Tughlakabad, Delhi; then Deputy Commissioner(DBK), ICD, Tughlakabad, Delhi and an Exporter (Private person) of Delhi for causing an alleged loss of Rs.74.50 crore (approx) to government exchequer....

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Posted Under: DGFT |

Decisions: Only You Make Yours

Decisions are not easy to make. Sometimes the mind cannot settle, we are unable to reconcile with the subject at hand. The more we think of it, the more it leads to disorder in our lives. We cannot find peace within ourselves. There are something’s which we must do on our own, by listening to our inner voice, that gut feeling, those rig...

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Posted Under: DGFT |

No Excise duty Price-escalation not contemplated at or before time of removal :SC

Commissioner of Central Excise Vs Hitkari Fibres Ltd. (Supreme Court of India)

CCE Vs. Hitkari Fibres Ltd. (Supreme Court), Price-escalation which was not contemplated at or before time of removal, cannot form part of transaction value especially when there is no allegation of understatement of value - Duty is payable at place, price and time of clearance of goods...

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