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Archive: 29 March 2016

Posts in 29 March 2016

Postmortem of Union Budget 2024: A Comprehensive Webinar

July 16, 2024 3855 Views 3 comments Print

Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and investment insights. Register now!

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 14, 2024 3498 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

CBEC appoints ‘Kakrawah’ as land customs station

March 29, 2016 574 Views 0 comment Print

akrawah is appointed as land customs station for the purpose of clearance of baggage, passenger vehicles and tourist vehicles. (27) Kakrawah, Siddharthnagar District, Uttar Pradesh-Road connecting Kakrawah in Siddharthnagar District, Uttar Pradesh and Karidah in Nepal.

Anti-dumping duty on Glazed/Unglazed Porcelain/Vitrified tiles

March 29, 2016 931 Views 0 comment Print

Seeks to levy provisional anti-dumping duty on Glazed/Unglazed Porcelain/Vitrified tiles in polished or unpolished finish with less than 3% water absorption, originating in, or exported from the China PR for a period not exceeding six months GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 12/2016-Customs (ADD) New Delhi, the 29th March, 2016 […]

Anti-dumping duty on imports of Tyre Curing Presses

March 29, 2016 1105 Views 0 comment Print

Seeks to levy definitive anti-dumping duty on imports of Tyre Curing Presses also known as Tyre Vulcanisers or Rubber Processing Machineries for tyres, excluding Six Day Light Curing Press for curing bi-cycle tyres originating in, or exported from China PR for a period of five years

Anti-dumping duty on 2-Ethyl Hexanol

March 29, 2016 5260 Views 0 comment Print

Seeks to levy definitive anti-dumping duty on 2-Ethyl Hexanol, originating in, or exported from the European Union, Indonesia, Korea RP, Malaysia, Chinese Taipei and USA for a period of five years

Regarding Validity and Renewal of Registration under FCRA, 2010

March 29, 2016 697 Views 0 comment Print

With respect to validity and renewal of existing Registrations under Foreign Contribution (Regulation) Act, 2010, with the approval of competent authority, exercising the powers vested under Section 50 of FCRA 2010, following have been decided :- (i) To extend the validity of registration certificate of all the associations whose registration certificates are expiring on or before 30th September, 2016 upto 31st October, 2016; and

Post Office Recurring Deposit (Amendment) Rules, 2016

March 29, 2016 8251 Views 0 comment Print

In exercise of the powers conferred by section 15 of the Government Savings Bank Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office Recurring Deposit Rules, 1981, namely:-

Company Fraud Reporting – Time To Act Now!

March 29, 2016 9667 Views 1 comment Print

ICAI, has clarified that the applicability of this section on fraud reporting is applicable only to the statutory auditors of the company, the cost accountant in practice, conducting cost audit under section 148 of the Act; and to the company secretary in practice, conducting secretarial audit under Section 204 of the Act. It shall also extend to a branch auditor appointed under Section 139 ‘to the extent it relates to the concerned branch’.

Krishi Kalyan Cess: A New Cess on Services

March 29, 2016 47911 Views 4 comments Print

The Union Budget has introduced two new cesses in the name and style of Infrastructure Cess and Krishi Kalyan Cess, former in the nature of excise duty and later as Service Tax. Clean Energy Cess has been renamed as Clean Environment Cess while enhancing the cess by 100 percent. These cesses, in nutshell are as follows:

No Service tax on sharing of resource, cost/ expense with Group Companies

March 29, 2016 15412 Views 0 comment Print

CESTAT, Mumbai held that reimbursement of the cost of obtaining and employing resources/certain expenses incurred by the Appellant on the behalf of the Group Companies cannot be regarded as consideration flowing to the Appellant towards the taxable service provided by the Appellant rather the receipts are towards the reimbursements of the cost/expenses incurred by the assessee in terms of the cost sharing agreement with the Group Companies.

NSC Maturity Period 5 Year wef 01.04.2016 & Interest Rate

March 29, 2016 30007 Views 4 comments Print

Where a certificate has been purchased on or after the 1st day of April, 2016 the maturity period of a certificate of any denomination, shall be five years, commencing from the date of issue of the certificate. The amount inclusive of interest, payable on encashment of the certificate at any time after the expiry of its maturity period shall be Rs. 147.6 1for denomination of Rs. 100 and at proportionate rate for any other denomination.

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