"30 December 2015" Archive

Notification No.61/2015-Customs Dated- 30th December, 2015

Notification No.61/2015-Customs (30/12/2015)

Notification No.61/2015-Customs Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No.12/2012-Customs, dated the 17th March, 2012, published in the Gazette...

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Notification No. 60/2015-Customs dated 30th December, 2015

Notification No. 60/2015-Customs (30/12/2015)

Notification No. 60/2015 - Customs Seeks to amend notification No. 152/2009-Customs dated 31.12.2009 so as to provide deeper tariff concessions in respect of specified goods imported from Korea RP under the India-Korea Comprehensive Economic Partnership Agreement (CEPA) w.e.f. 01.01.2016....

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Notification No. 59/2015- Customs dated 30th December, 2015

Notification No. 59/2015-customs (30/12/2015)

Notification No. 59/2015 - CustomsSeeks to amend notification No. 53/2011-Customs dated 01st July, 2011 so as to provide deeper tariff concessions in respect of specified goods imported from Malaysia under the India-Malaysia Comprehensive Economic Cooperation Agreement (IMCECA) w.e.f. 01.01.2016....

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Notification No. 58/2015-Customs dated 30th December, 2015

Notification No. 58/2015 - Customs (30/12/2015)

Notification No. 58/2015 - Customs Seeks to further amend notification No. 46/2011-Customs dated 01.06.2011 so as to provide deeper tariff concessions in respect of specified goods when imported from ASEAN countries under the India-ASEAN Free Trade Agreement w.e.f. 01.01.2016...

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Electronic filing of first appeal before CIT(Appeals) Mandatory: CBDT

It is the endeavour of the Income tax Department to digitise various functions of the Department for providing efficient taxpayer services. As another significant step in this direction, electronic filing of appeal before CIT(Appeals) is being made mandatory for persons who are required to file the return of income electronically....

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Posted Under: Custom Duty | ,

GST- Proposed Input tax credit methodology

Goods & Service tax (GST), the mile stone tax reform since independence of India is on its way to implementation journey and proposed GST bill is under discussion everywhere. This is very crucial stage to understand the various methodologies proposed in the GST bill....

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Posted Under: Custom Duty |

Applicability Of Indian Accounting Standards

1. Any company may comply with the Indian Accounting Standards (hereinafter referred to as the IndAS) for financial statements for accounting periods beginning on or after 1stApril, 2015, with the comparatives for the periods ending on 31st March, 2015, or thereafter...

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Posted Under: Custom Duty |

CBI Register disproportionate assets case against Director (Investigation), Settlement Commission, Chennai

The Central Bureau of Investigation has registered a case u/s.109 of IPC r/w 13 (2) r/w 13 (1)(e) of PC Act 1988 against then Commissioner of Income Tax (IRS – 88 Batch), presently posted as Director (Investigation), Settlement Commission, Chennai and 8 others including his family members & certain benami property holders, on the alleg...

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Posted Under: Custom Duty |

Bankruptcy Bill 2015 to bring unified Insolvency & Bankruptcy Code

The Government, on Monday, December 21, 2015, introduced the Insolvency and Bankruptcy Bill, 2015 (the Bankruptcy Bill), proposing to enact a single bankruptcy code setting deadlines for processing insolvency cases. Once enacted, not only will it improve the ease of doing business in India, it will also ensure better debt recovery for cre...

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Posted Under: Custom Duty |

Exemption u/s 10A available on undisclosed income surrendered during survey proceeding u/s 133A

M/s Bridal Jewellery Mfg. Co. Vs ITO (ITAT Delhi)

M/s Bridal Jewellery Mfg. Co.Vs. ITO (ITAT Delhi) In the present case, it is an admitted fact that the assessee was engaged in the manufacturing of jewellery, during the process of manufacturing on behalf of the customers...

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