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Rate of exchange of conversion of each of foreign currency WEF 20.02.2015

February 19, 2015 808 Views 0 comment Print

the Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currency specified in column (2) of each of Schedule I and Schedule II annexed hereto into Indian currency or vice versa shall, with

Eleven government services launched on eBiz Portal

February 19, 2015 1475 Views 0 comment Print

These services are required for starting a business in the country – four services from Ministry of Corporate Affairs, two services of Central Board of Direct Taxes, two services of Reserve Bank of India and one service each from Directorate General of Foreign Trade, Employees’ Provident Fund Organisation and Petroleum & Explosives Safety Organisation.

Govt notifies Indian Insurance Companies (Foreign Investment) Rules, 2015

February 19, 2015 2049 Views 0 comment Print

As per these rules, Foreign Direct Investment (FDI) proposals up to 26 per cent of the total paid-up equity of the Indian Insurance Company shall be allowed on the automatic route, and FDI proposals which take the total Foreign Investment above 26 per cent and up to the cap of 49 per cent shall require FIPB approval.

3 Year Jail to Superintendent of Central Customs & Excise in a Bribery Case

February 19, 2015 1027 Views 0 comment Print

THREE YEARS RIGOROUS IMPRISONMENT WITH FINE OF RS. 20,000/- TO THEN SUPERINTENDENT OF CENTRAL CUSTOMS & EXCISE IN A BRIBERY CASE The Special Judge for CBI cases, Visakhaptnam has convicted Sri Bhitravarapu Srikrishna, then Superintendent, Customs & Central Excise, Guntur Division, Customs & Central Excise, Brodipet, Guntur in a bribery case U/s.7 & 13(2) r/w. […]

Filling up of the post of Joint Secretary (Customs) in CBEC

February 19, 2015 1081 Views 0 comment Print

I am directed to say that the post of Joint Secretary (Customs) in the Central Board of Excise & Customs under the Revenue Headquarters is proposed to be filled up from among the eligible officers of IRS (C&CE) cadre. IRS (C&CE) officer in the grade of Commissioner of Customs & Central Excise is eligible for the said post.

ICAI members cannot use designation other than Chartered Accountant

February 18, 2015 16143 Views 3 comments Print

A Chartered Accountant in practice shall be deemed to be guilty of professional misconduct if he uses any designation or expressions other than chartered accountant on professional documents, visiting cards, letter heads or sign boards, unless it be a degree of a University established by law in India or recognised by the Central Government

CBI Arrests Central Excise Superintendent for Accepting Bribe

February 18, 2015 783 Views 0 comment Print

The Central Bureau of Investigation has arrested a Superintendent of Central Excise, Khamgaon (Maharashtra) for demanding & accepting a bribe of Rs.one lakh from the complainant.

Corrigendum to Income Tax Notification No.13/2015

February 18, 2015 853 Views 0 comment Print

Notification No. 18/2015 – Income Tax In the Notification of Government of India, Ministry of Finance, Department of Revenue, No. 13/2015, dated 10th February 2015 bearing S.O. 424 (E) and published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii) (hereinafter referred as Gazette Notification):-

Notification No. 05/2015-Customs (ADD)- Dated-18th February, 2015

February 18, 2015 1993 Views 0 comment Print

The Central Government vide Notification No. 05/2015-Customs (ADD) dated February 18, 2015 has continued the imposition of Anti-Dumping Duty (ADD) on imports of ‘Acetone’ falling under tariff item no. 2914 11 00 of the First Schedule to the Customs Tariff Act, 1975, originating in or exported from Korea RP.

Addition for Deemed Dividend confirmed – Advance against property contention not valid in absence of supporting

February 18, 2015 1438 Views 0 comment Print

Though, assessee has claimed that the amount received was not in the nature of loan/advance, but, towards purchase of land in the name of company, however, assessee has not produced even a single evidence to justify the aforesaid claim.

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