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1. Short title and commencement.– (1) These rules may be called the India-ASEAN Trade in Goods Agreement (Safeguard Measures) Rules, 2016. (2) They shall come into force on the date of their publication in the Official Gazette.
Central Government, in public interest, hereby exempts the ‘Group’ exercising less than fifty per cent. of voting rights in other enterprise from the provisions of section 5 of the said Act for a period of five years with effect from the date of publication of this notification in the official gazette.
Central Government in consultation with the Competition Commission of India, hereby enhances, on the basis of the wholesale price index, the value of assets and the value of turnover, by hundred per cent for the purposes of section 5 of the said Act,
In exercise of the powers conferred by clause (a) of section 54 of the Competition Act, 2002 (12 of 2003), the Central Government, in public interest, hereby exempts an enterprise, whose control, shares, voting rights or assets are being acquired has either assets of the value of not more than rupees three hundred and fifty crores in India
The Gold Bonds under this Scheme may be held by a Trust, Charitable Institution, University or by a person resident in India, being an individual, in his capacity as such individual, or on behalf of minor child, or jointly with any other individual.
Commission for distribution shall be paid at the rate of rupee one per hundred of the total subscription received by the receiving offices on the applications received and receiving offices shall share at least 50% of the commission so received with the agents or sub-agents for the business procured through them.
The Point of Taxation Rules, 2011 (in short POT Rules) was introduced w.e.f. 01-04-2011 to define and determine the point of taxation (in short POT) i.e. point in time when a service shall be deemed to have been provided. The twin objectives was to bring certainty regarding due date for payment of service tax (on accrual basis) and to determine the applicable rate of service tax as the one prevailing on the date of POT. While issuing the draft rules, the Central Government stated as under:
The Union Budget/ Finance Bill 2016 has introduced the levy of Central Excise duty on the readymade garments and made up articles of textiles falling under Chapters 61, 62 and 63 (heading Nos. 6301 to 6308) of the Central Excise Tariff except those falling under 6309 and 6310 by withdrawing the exemption available to such goods.
Simply stated, a casual vacancy is said to have occurred in the Board of Directors{ Board} when the office of a director appointed by the shareholders is vacated before the expiry of his term. Although the Companies Act 2013 { new Companies Act } doesnot define what constitutes this vacancy,
Budget, 2016 has come up with some new provisions and concepts in the Central Excise Law. One such provision has been introduced in the name of rule 7B of Central Excise Rules, 2004 which has been framed on the same lines of input service distributor. This little article is about this new concept in the Central Excise Law.
