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Archive: 01 March 2016

Posts in 01 March 2016

Notification No. 18/2016-Customs Dated: 1st March, 2016

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Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 25/2002-Customs, dated the 1st March, 2002

Notification No. 17/2016 – Customs Dated: 1st March, 2016

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Government of India in the Ministry of Finance (Department of Revenue) No. 25/99- Customs, dated the 28th February, 1999, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 161(E), dated the 28th February, 1999

Notification No. 16/2016-Customs Dated: 1st March, 2016

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Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 21/2012-Customs, dated the 17th March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 194(E), dated the 17th March, 2012

Notification No. 15/2016-Customs Dated: 1st March, 2016

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Government of India in the Ministry of Finance (Department of Revenue) No. 27/2011-Customs, dated the 1st March, 2011, published in the Gazette of India, Extraordinary, vide number G.S.R. 153(E), dated the 1st March, 2011

Notification No. 14/2016-Customs Dated: 1st March, 2016

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(i) in the TABLE, serial numbers 9, 9A, 10, 10A and the entries relating thereto shall be omitted; (ii) in paragraph 2, in item (ix), the figures and letters 9A,10A, shall be omitted.

Limit for bonafide gifts imported by post or as air freight increased to Rs, 20000

March 1, 2016 2068 Views 1 comment Print

(a) in the proviso, for the words rupees ten thousand, the words rupees twenty thousand shall be substituted; (b) in the Explanation, for the words rupees ten thousand, the words rupees twenty thousand shall be substituted.

Notification No. 12/2016-Customs Dated: 1st March, 2016

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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 of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 185 (E), dated the

Notification No. 11/2016-Customs Dated: 1st March, 2016

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Seeks to exempt CVD on imported media with recorded Information Technology Software on so much value as is equivalent to the value of the Information Technology Software recorded on the said media which is leviable to Service tax under Finance Act, 1994

Eligible business profits to be computed as per law & not as per treatment by assessee in its books

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The ITAT Bench Cochin held that the assessee would be entitled to deduction u/s 80 IB(7) if its incomes are derived from eligible business irrespective of the manner in which the entries in the books of account are maintained.

Notification No. 21/2016-Central Excise (N.T.) Dated: 01.03.2016

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The declaration filed under paragraph (1A) shall be accompanied by a Chartered Engineer’s certificate in respect of correctness of the ratio of input and output where a copy of the Standard Input Output Norms notified by Director General of Foreign Trade, Ministry of Commerce, if fixed, is made available to the Chartered Engineer before obtaining the certificate, in respect of goods

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