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Archive: 09 February 2016

Posts in 09 February 2016

Course on Mastering GST Sections Effortlessly with Memory Techniques!

November 28, 2024 6798 Views 0 comment Print

Simplify GST learning with memory techniques. Join live sessions, master CGST sections, and retain knowledge effortlessly. Register now for practical GST mastery!

Notification No. 23/2016-Customs (N.T.) Dated: 09/02/2016

February 9, 2016 954 Views 0 comment Print

Notification No. 23/2016-CUSTOMS (N. T.) Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs (N.T.), dated the 3rd August, 2001, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S. O. 748 (E), dated the 3rd August, 2001, namely:-

Effect of ‘in limine’ dismissal of SLP by Supreme Court

February 9, 2016 4908 Views 0 comment Print

Board has been receiving various references from the field formations in respect of the effect of ‘in limine’ dismissal of Special Leave Petition (SLP) i.e. without its grant or without admission or any discussion by the Supreme Court. There is doubt relating to whether on dismissal of SLP ‘in limine’ the question of law posed before the Supreme Court remains open or the doctrine of merger is applicable.

The Definitive Guide to Why You Need Health Insurance

February 9, 2016 912 Views 0 comment Print

With the rise of growing health care sector and the technology it has developed, the health care has become increasingly expensive. An average lower-middle-class man might just find himself in the midst of the most terrible crisis in case he faces a situation where he has to pay the hospital bills. A single visit to […]

Amendments wef 11.2.2016 to All Industry Rates of Duty Drawback

February 9, 2016 6517 Views 0 comment Print

Circular No. 06/2016-Customs Duty The Government considered representations, feedback and data related to the All Industry Rates (AIR) of Duty Drawback that took effect on 23.11.2015 and has notified certain changes vide Notification No. 22/2016-Customs (N.T.) dated 08.2.2016. These changes take effect from 11.02.2016.

Budget 2016: Expectations from the Finance Minister

February 9, 2016 2547 Views 2 comments Print

Raising the limit for eligible deduction under Section 80C, 80CCC and 80CCD- Presently the Section 80 CCE provides for a cap of Rs. 1.50 lacs for deduction available under Section 80C, 80CCC and 80 CCD(1) taken together. The present limit of Rs. 1.50 lacs was raised from Rs. 1 lacs in the budget of 2014. The erstwhile limit of Rs. 1 lacs was fixed in 2003 for these benefits. It has been almost 14 years during which the limit has been just increased by 50% which works out to just 2.98% annually.

Art of Legal Writing: Impact and Analysis

February 9, 2016 7090 Views 1 comment Print

This article is a humble effort on the given topic as a learner. It is an effort on a subject, which as a part of legal profession; I know is the one of the most important but yet an underrated area known as Legal Writing. Public perceives legal professionals to be good draftsmen. However, it’s a fact that time devoted towards developing art of legal drafting by legal professionals is much lesser than the time devoted towards analyzing and interpreting laws. In our education system also, much lesser time is devoted towards teaching of drafting skills to students in legal field.

Procedure for investigation of related party import and other cases by SVB

February 9, 2016 13325 Views 0 comment Print

Circular No. 5/2016-Customs Duty The Special Valuation Branch (SVB) was created as an institution specializing in investigation of transactions involving special relationships between buyer – seller or those involving other special circumstances surrounding the sale of imported goods, both of which have a bearing on the assessable value.

Customs: Procedure for renewal of SVB orders and ongoing SVB inquiries

February 9, 2016 16715 Views 0 comment Print

Circular No. 4/2016-Customs Duty The Board has comprehensively revised instructions for the examination of related party transactions and those involving royalty, licence fee etc. vide circular no. 5/2016 dated 9th February 2016. In view thereof, the Board has decided that the following procedure shall be followed with respect to pending SVB cases initiated in terms of circular 1/98 – Cus dated 1.1.98 & 11/2001-Cus dated 23.2.2001 and those involving renewal of SVB orders.

No charity in initial years cannot be sole basis for trust registration denial

February 9, 2016 954 Views 0 comment Print

As per section 12AA, the commissioner has to satisfy himself about the objectives of the Trust and genuineness of its activities and for such purpose he has the power to call for such documents or information from the assessee as he thinks necessary.

Recommendations on Definitions under Companies Act, 2013

February 9, 2016 6122 Views 0 comment Print

I would like to highlight Recommendations of The Committee on various Definitions like Associate Company, Charge, Deposit, Related Party etc. under Companies Act, 2013. Such recommendations are given below:

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