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Archive: 25 April 2016

Posts in 25 April 2016

No excise on bought out items placed in tray served in airlines

April 25, 2016 1225 Views 0 comment Print

It was held that the activity of placing various food items, prepared by the appellants as well as various bought out readymade items, in a tray either at the time of placing the tray in the trolley or at the time of serving the passengers on board does not amount to manufacture of a new commodity as contemplated under section 2 (f) of Central Excise Act, 1944 and accordingly the excise duty cannot be demanded on the total value of manufactured and bought products placed in the tray.

Disclosure of Proprietary Trading by Commodity Derivatives Broker

April 25, 2016 520 Views 0 comment Print

In order to increase the transparency in the dealings between the stock broker and the clients in commodity derivatives market, it has been decided to align the provisions relating to the proprietary trading carried out by the stock brokers of commodity derivatives exchanges in line with the securities market.

Introduction of policy conditions on import of dogs

April 25, 2016 1777 Views 0 comment Print

Central Government hereby introduces policy conditions on import of dogs under Chapter 01 of ITC (HS), 2012 – Schedule – 1 (Import Policy) as under: (7) Import of dogs is allowed only for the following specific purposes:-

Changes in MVAT Rate, Composition Scheme & Entry Tax

April 25, 2016 24721 Views 0 comment Print

All about 1) Changes in the rate of tax under the Maharashtra Value Added Tax Act (MVAT), 2002 2) Modifications in the Composition Schemes 3) Entry Tax on slabs of marbles and granite in a brief.

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