CBEC hereby determines that rate of exchange of conversion of each of the foreign currencies specified in column (2) of each of Schedule I and Schedule II annexed hereto, into Indian currency or vice versa, shall, with effect from 06th May, 2016, be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods.
According to Section 2(1)(d) of Limited Liability Partnership Act 2008, “Body Corporate” means a company as defined under the Companies Act, 1956 and includes LLP, LLP incorporated outside India, a foreign company but does not include a corporation sole, a registered co-operative society and any other body corporate notified by the Central Government.
In Sikh Gurdwaras Act, 1925 in section 49, for the proviso, the following proviso shall be substituted, namely:— Provided that no person shall be registered as an elector who—(a) trims or shaves his beard or keshas; (b) smokes; and (c) takes alcoholic drinks.
i) NRIs and PIOs are permitted to open these accounts in Indian Rupee with Authorized Dealers and authorized banks in any form e.g saving, current, recurring or fixed deposit subject to the conditions specified in Schedule 1 of the Deposit Regulations. ii) Inward remittances from outside India to the NRE account and remittances outside India from the NRE account are permitted.
We are pleased to inform you that CBEC vide Letter F. No. DGST/19/2015 dated 12.04.2016 to ICAI has informed that every Wednesday would be taxpayers day wherein heads of all offices in the field will meet the taxpayers/ other stakeholders from 9 AM to 1 PM without any prior appointment in order to address their grievances relating to Central Excise, Service Tax, Customs etc.
Mark to market (MTM) is a measure of the fair value of accounts that can change over time, such as assets and liabilities. Mark to market accounting refers to accounting for the fair value of an asset or liability based on the current market price, Fair value accounting has been a part of Generally Accepted Accounting Principles (GAAP) in the United States since the early 1990s.
in the table, against serial number 39, in column (3), the words charger or adapter, battery, wired headsets and speakers of mobile handsets including cellular phones and shall be omitted.
Charger or adapter, battery, wired headsets for use in manufacture of mobile handsets including cellular phones- Provided that the importer shall comply the procedure specified in the Customs (Import of Goods at Concessional Rate of Duty for Manufacture of Excisable Goods) Rules, 2016.
The importer maintains a proper account of import, use and consumption of the specified goods imported for the purpose of servicing, repair and maintenance of aircrafts, aircraft components, parts including engines of aircrafts and submits such account periodically to the Commissioner of Customs in such manner as may be specified by the said Commissioner;
List of services where payment has been received in Indian Rupees which can be treated as receipt in Deemed Foreign Exchange as per guidelines of Reserve Bank of India in terms of Para 3.08(c) of FTP 2015-20 is notified.
