Office Order No. 24/2015 Instances have been noticed wherein the Principal Commissioners a-e acting as Chief Commissioner of their respective Zones as well as the members of the Committee of the Commissioners formed for the purpose of reviewing the orders of the Commissioner (Appeals) within their jurisdiction under Section 35B(2) of the Central Excise Act, 1944, Section 85(2A) of the Finance Act, 1994 and Section 129A(2) of the Customs Act, 1962.
Director General of Foreign Trade hereby rescinds the Public Notice No. 30 (RE-2012)/2009-2014 dated 16th November, 2012 vide which a list of 62 tradable items had been notified for the Indo – Myanmar Border Trade. Along with the Public Notice No. 30 (RE-2012)/2009-2014 dated 16th November, 2012, the Public Notice No.289/92-97 dated 10th April, 1995 and Public Notice No.106 (RE-2008)/2004-2009 dated 7th November, 2008 are also rescinded.
Public Notice No. 49/2015-2020 Quantity of import item at S. No. 10 of SION A1663 has been specified in addition to the value-wise limit already prescribed in S.No. 8 of General Notes for all export product groups.
It is a known fact that Dual VAT/GST Model has been sought to be brought in place in India. The common thought of people of the country is that why National VAT/GST has been brought instead of Dual VAT/GST and does the lawmaker’s were not farsighted enough about the option of National GST rather than Dual GST.
NOTIFICATION No. FEMA.360/2015-RB-In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following amendments in the Foreign Exchange Management (Transfer or issue of Security by a Person Resident outside India) Regulations, 2000 (Notification No. FEMA. 20/2000-RB, dated 3rd May, 2000) namely:-
the rate of exchange of conversion of each of the foreign currencies specified in column (2) of each of Schedule I and Schedule II annexed hereto, into Indian currency or vice versa, shall, with effect from 18th December, 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.
