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Relief to Product which experienced a decline in exports in 2012-13 as compared to 2011-12

October 23, 2013 859 Views 0 comment Print

Para 5.11.2 of the Hand Book of Procedure Volume 1 (HBP v1) permits re-fixation of Annual Average Export Obligation, in case the export in any sector/ product group declines by more than 5%. This implies that for the sector/product group that witnessed such decline in 2012-13 as compared to 2011-12, would be entitled for such relief.

Reg. Import of new motorcycles from Bangladesh

October 23, 2013 932 Views 0 comment Print

The import of new vehicles shall be permitted only through the Customs port at Nhava Sheva, Kolkata, Chennai, Chennai Airport, Cochin, ICD Tughlakabad and Delhi Air Cargo, Mumbai Port and Mumbai Air Cargo Complex, ICD Talegaon Pune, ICD Faridabad and Ennore Port.

Maharashtra Govt doubled Partnership Fees w.e.f. 25/10/2013

October 23, 2013 3439 Views 0 comment Print

Maharashtra Government has vide Notification No. No IPA. 2012/329/CR 59/Desk-1 Dated 25.09.2013 has doubled the fees for partnership related issues. Revised rates are as follows :-

Companies Act, 2013 – Draft rules – Phase 3 – Suggestions Invited

October 23, 2013 6319 Views 1 comment Print

Under the third phase, the MCA has released draft rules relating to the following chapters. The last date of receiving comments on draft rules released under the third phase is 1st November, 2013.

Today is last date for Submitting Suggestions for 2nd Tranche of Draft Rules Under Companies Act 2013

October 23, 2013 669 Views 0 comment Print

Today i.e. October 23, 2013 is the last date for submission of suggestions/ comments for the 2nd tranche of Draft Rules being framed under the Companies Act, 2013. Earlier, the Ministry of Corporate Affairs had extended the date by 4 days to 23rd October 2013.

Notification No. 25/2013-Customs (ADD) Dated: 22/10/2013

October 22, 2013 577 Views 0 comment Print

Whereas, in the matter of import of vitrified and porcelain tiles, (hereinafter referred to as the subject goods), falling under Chapter 69 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975)

Issue Of Income Tax Refund Refunds Without Adjustment Of Demand

October 22, 2013 5430 Views 0 comment Print

I have been directed to inform you that in pursuance to the decision of Full Board and minutes of the meeting dated 21/08/2013, the CPC is allowed to issue refunds without adjustment of demand as an interim measure in cases where either the outstanding demand against the assessee was less than Rs. 5000/- or claim of refund was less than Rs 5000/-

Restrictions on ‘At par’ cheque facility used by Urban Cooperative Banks

October 22, 2013 1609 Views 0 comment Print

It has been observed that UCBs are utilizing ‘at par’ cheque facility extended by Scheduled Commercial Banks not only for their own use but also for their customers, including walk-in customers.

Deemed Defective Returns For AY 2013-14 : CBDT

October 22, 2013 2703 Views 0 comment Print

I have been directed to inform that a number of e-Returns have been submitted for AY 2013-14 where unpaid self-assessment-tax existed on the date of submission of e-returns. As on 09-Oct-2013, total 1,46,495 e-Returns of AY 2013-14 were submitted with unpaid self­assessment-tax of Rs. 100/- or more on the date of filing.

NSDL & CDSL to maintain Centralized Database for Corporate Bonds/Debentures

October 22, 2013 682 Views 0 comment Print

The depositories shall obtain requisite information regarding the bonds/debentures from Issuers, Stock Exchanges, Credit Rating Agencies and Debenture Trustees. The Database can be accessed by the public or any other users without paying any kind fees or charges.

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