"28 January 2016" Archive

Provision of Safe Deposit Locker facility by NBFCs

RBI/2015-16/302 DNBR(PD).CC.No. 072/03.10.001/2015-16 (28/01/2016)

In this regard it may be noted that providing safe deposit locker facility is a fee based service and shall not be reckoned as part of the financial business carried out by NBFCs. NBFCs offering safe deposit locker facility or intending to offer it, shall disclose to their customers that the activity is not regulated by the Bank....

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Discrepancy in Appeals to be withdrawn and Appeal Below Monetary Limit

D. O. F. No. 390/Misc./163/2010-JC (28/01/2016)

All the Chief Commissioners were to initiate withdrawal from the various fora. The reports regarding number of such appeals to be withdrawn sent by few Chief Commissioners do not match with the total number of appeals below the increased monetary limits of their Zones, which are pending before the High Courts and CESTAT, as available in t...

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Notification No. 6/2016-Customs, Dated: 28th January, 2016

Notification No. 6/2016-Customs (28/01/2016)

Notification No. 6/2016-Customs in List 3, the goods specified against following item numbers shall be omitted, namely:- (1), (3), (6), (8), (13), (14), (15), (20), (22), (24), (27), (30), (32), (35), (37), (39), (41), (43), (44), (45), (48), (51), (52), (55), (56), (57), (58), (59), (61), (62), (63), (65), (66), (72), (73), (77), (91), (...

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Notification No. 3/2016-Customs (ADD), Dated-28th January, 2016

Notification No. 3/2016-Customs (ADD) (28/01/2016)

Notification No. 3/2016-Customs (ADD) Central Government hereby rescinds the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 10/2010-Customs, dated the 19th February, 2010, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 91(E), date...

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Anti-dumping duty on Melamine

Notification No. 2/2016-Customs (ADD) (28/01/2016)

Notification No. 2/2016-Customs (ADD) Seeks to levy definitive anti-dumping duty on Melamine, originating in, or exported from the People’s Republic of China, for a period of five years....

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Anti-dumping duty on Mulberry Raw Silk

Notification No. 1/2016-Customs (ADD) (28/01/2016)

Notification No. 1/2016-Customs (ADD)Seeks to levy definitive anti-dumping duty on Mulberry Raw Silk (not thrown) of grade 3A and below, originating in, or exported from the Peoples Republic of China, for a period of five years....

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Treatment of a fresh claim of an assessee before completion of assessment

Whether an assessing officer is required to entertain and consider a fresh claim or a modification in a claim made at any time before the completion of assessment u/s 143(3) of the income-tax act....

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Posted Under: Fema / RBI |

Dear Assessing Officer, Please Co-operate With Co-operative Banks

Co-operative banking is being aided and encouraged by the State Governments vide the various provisions of State Co-operative Societies Acts. A co-operative bank is a co-operative society, which is union of persons established according to the principles of equality, the number of whose members is unlimited and the purpose of which is, by...

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Posted Under: Fema / RBI |

Signing of Protocol amending India-Armenia Double Taxation Avoidance Convention

A Protocol to amend the existing Double Taxation Avoidance Convention was signed by the Government of India and the Government of Armenia on the 27th day of January, 2016 in New Delhi....

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Posted Under: Fema / RBI |

Resolution of more than 100 cases of transfer pricing disputes with USA under MAP-regarding

One of the significant steps taken by Central Board of Direct Taxes to boost investment sentiments among MNCs is the landmark Framework Agreement signed with the Revenue Authorities of USA in January, 2015. This agreement was finalised under the Mutual Agreement Procedure (MAP) provision contained in the India-USA Double Taxation Avoidanc...

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Posted Under: Fema / RBI |