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Archive: 19 June 2017

Posts in 19 June 2017

Draft Courier Imports and Exports (Clearance) Regulations, 2017

June 19, 2017 2082 Views 0 comment Print

Stakeholder consultation/comments are invited on Draft Courier Imports and Exports (Clearance) Regulations, 2017 for Manual courier clearance along with proposed manual forms, namely new Form Courier Bill of Entry-IV (CBE-IV), new Form Courier Bill of Entry-V (CBE-V), new Form Courier Bill of Entry-IX (CBE-IX) and new Form Courier Bill of Entry-X (CBE-X),new Form Courier Shipping Bill-II (CSB-II), new Form Courier Shipping Bill CSB-V & new Form Courier Bill of Export-II (CBEx-II).

Draft Courier Imports and Exports (Electronic Declaration and Processing) Regulations, 2017

June 19, 2017 1500 Views 0 comment Print

Stakeholder consultation/comments are invited on Draft Courier Imports and Exports (Electronic Declaration and Processing) Regulations, 2017 for electronic clearances along with proposed electronic forms, namely,new Form Courier Bill of Entry-XII (CBE-XII), new Form Courier Bill of Entry-XIII (CBE-XIII), new Form Courier Bill of Entry-XIV (CBE-XIV) and new Form Courier Shipping Bill (CSB-IV).

Draft Bill of Entry (Forms) Amendment Regulations, 2017.

June 19, 2017 1896 Views 0 comment Print

Stakeholder consultation/comments are invited on draft notification for amendment to Bill of Entry(Forms) Regulations, 1976 for Non-EDI locations or for Manual clearance along with New Form I, New Form II & New Form III for manual Bill of Entry incorporating provisions for IGST.

Draft Shipping Bill and Bill of Export (Forms) Regulations, 2017

June 19, 2017 3216 Views 0 comment Print

Stakeholder consultation/comments are invited on Draft Shipping Bill & Bill of Export regulations for Non-EDI locations or for Manual clearance and proposed Manual Shipping Bills Forms- SB I, SB II, SB III & SB IV.

CBEC notifies applicability date of Notification No. 13/2017 CE (NT)

June 19, 2017 2436 Views 0 comment Print

Notifying the date by which the Notification No.13/2017 CE (NT) dated the 9th June 2017 related to Territorial Jurisdiction of Principal Chief Commissioners/Chief Commissioners, Principal Commissioners/Commissioners, Commissioner (Appeals), Commissioner (Audit) shall come into force.

CBEC notifies applicability date of Notification No. 12/2017 CE (NT)

June 19, 2017 1296 Views 0 comment Print

Notifying the date by which the Notification No.12/2017 CE (NT) dated the 9th June 2017 related to Appointment of Central Excise officers and vesting them with powers under Central Excise Act 1944 and under Chapter V of Finance Act 1994 shall come into force

Commission paid against Guarantee by Directors in violation of RBI guidelines is not allowable

June 19, 2017 8697 Views 0 comment Print

Assessing Officer to examine from the original bank documentations/ agreements/ sanction letter and to ascertain whether the requirement of non-payment of commission to the guarantors was incorporated in the terms and conditions of bank for sanctioning of credit limit or whether any undertaking to this effect was taken from the company or not in terms of RBI guidelines noted above.

Delhi HC order on Online Access to Legislations

June 19, 2017 1323 Views 1 comment Print

The present matter has brought forth the problems faced by citizens in free access to accurate and comprehensive sets of laws in India. The availability of accurate legal texts, at minimal cost, is fundamental to the rule of law and a basic responsibility of the Government. With the advent of the internet, it is imperative that the Government make all efforts possible to provide comprehensive access to legislations and subordinate legislations online. While efforts have been made in this arena, a lot remains to be done.

If transactions are at ALP no further income can be said to be attributable to assessee in India from PE

June 19, 2017 1878 Views 0 comment Print

Assessee- company was engaged in business of broadcasting of sports channel, namely Ten Sports across globe, including India. Its subsidiary (Taj India) was appointed as exclusive distributor of TV Channel Ten Sports to cable operators and other permitted systems on principal-to-principal basis.

Sale of Attached Property after 3 years not barred by Limitation when Settlement Commission order not become Final

June 19, 2017 4473 Views 1 comment Print

In a recent ruling, the division bench of the Bombay High Court held that the assessee cannot claim that the sale of attached property is time-barred under Rule 68B of the Second Schedule, where he has applied to Settlement Commission for extension of time for payment of demand as per Order of Settlement and his application is pending and writes to TRO for putting sale on hold based on such application.

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