"14 June 2016" Archive

Reg. Request for Expedited Examination of Patent Application

Public Notice No. CG/F/2016/146 (14/06/2016)

The Patents (Amendments) Rules, 2016 have come into force w.e.f. 16th May, 2016. In this regard the stakeholders and general public are hereby informed that in terms of provisions of sub-rule (13) of Rule 24C relating to expedited examination of applications, the number of requests for expedited examination to be received by the Patent Of...

Read More

Notification No. 85/2016-Customs (N.T.) Dated 14.06.2016

Notification No. 85/2016-Customs (N. T.) (14/06/2016)

Government of India Ministry of Finance (Department of Revenue) (Central Board of Excise and Customs) Notification No. 85/2016-Customs (N. T.) New Delhi, 14th June, 2016 S.O. 2100(E).– In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, be...

Read More

Notification No. 25/2016–Central Excise Dated 14.06.2016

Notification No. 25/2016–Central Excise (14/06/2016)

the Additional Duties of Excise (Goods of Special Importance) Act, 1957 (58 of 1957) the Central Government on 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)...

Read More

Notification No. 24/2016–Central Excise Dated 14.06.2016

Notification No. 24/2016–Central Excise (14/06/2016)

Central Government on 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. 214/86-Central Excises, dated the 25th March, 1986, published in the Gazette of India, Extraordinar...

Read More

Notification No. 84/2016-Customs (N.T.) Dated 14.06.2016

Notification No. 84/2016-Customs (N.T.) (14/06/2016)

F No.437/22/2016-Cus-IV Government of India Ministry of Finance Department of Revenue Notification No. 84/2016-Customs (N.T.) New Delhi, dated 14th June, 2016 In exercise of the powers conferred by sub-section (1) of section 4 and sub-section (1) of section 5 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs h...

Read More

Finmin releases Draft Model GST Law 2016

The Empowered committee of State Finance Ministers has today released the much awaited model GST law June, 2016 for public debate. The new law has two Acts:-1. Goods and Services Tax Act’ 2016 2. Integrated Goods and Services Tax Act’ 2016...

Read More
Posted Under: Corporate Law | ,

S.56 No Tax on Startup Shares issued about FMV: CBDT

Notification No. 45/2016-Income Tax (14/06/2016)

Central Government, hereby notifies the 'classes of persons' for the purposes of section 56(2)(viib)(ii) as being the 'person' defined under sub-section (31) of section 2 of the said Act, being resident, who make any consideration exceeding the face value for issues of shares of a 'startup' company....

Read More

ICAI dispenses GMCS-I by merging with Orientation Course

Dispensation of GMCS-I by merging its syllabus with Orientation Course for 15 days (90 hours) – (14-06-2016) The Council has decided to dispense with the General Management and Communication Skills (GMCS) – I Course and merge its syllabus with Orientation Programme. Hence forthwith, it will be known as Orientation Course. Accordin...

Read More
Posted Under: Corporate Law |

Consolidated FDI Policy- a comparative analysis

Like every year, the Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce & Industry had released the Consolidated Foreign Direct Investment Policy Circular, 2016 (FDI Policy 2016) which took effect from June 7, 2016. Several amendments were made in various sectors vide Press Note No. 12 dated November 24, 2015. FDI ...

Read More
Posted Under: Corporate Law |

TDS not deductible on web hosting & marketing services procured from US based entity

DCIT Vs M/s Matrimony.Com Pvt. Ltd. (ITAT Chennai)

The ITAT Chennai held that payments made by the assessee in the nature of webhosting and marketing expenses to US based service provider could not be taxed as Fees for technology services because there were not transfer of technology involved in render of services such that the services could be continuously used by the Indian company wit...

Read More