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Service Tax Return – ST-3 for July-September, 2012 available

March 26, 2013 8894 Views 0 comment Print

Service Tax Return (ST 3) for the period 1st July-30th September, 2012 is now available in a modified format for e-filing in ACES. Only offline version is available and there is no online version. The utility needs to be downloaded afresh from ‘DOWNLOADS’ section of ACES website, www.aces.gov.in or after logging in, under the navigational […]

CBEC – Good Friday – Relaxation for Prayers to persons who profess Christian faith

March 26, 2013 877 Views 0 comment Print

The Hon’ble High Court has directed, amongst other things, that such persons who profess Christian faith and are desirous of either being sanctioned full leave on both days or permission to pray at the Church for a limited duration on either day would be sanctioned leave or permission to leave offices to visit the Church at a short duration, keeping in view that those professing Christian faith would be a miniscule number working in such offices/ departments of the Central Government where revenue is generated.

Seeks to impose final safeguard duty @ 20% on imports of Hot rolled flat products of stainless Steel 304 grade( up to a max width of 1605 mm) into India from China from 4th January, 2013 to 22nd July, 2013 (both days inclusive)

March 26, 2013 460 Views 0 comment Print

hereas, the Central Government, having regard to the available information as to the possible use of substances mentioned in the Table below in the production or manufacture of various narcotic drugs and psychotropic substances, and also to implement the provisions of the United Nations Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substances, 1988, decided to declare them as controlled substances ;

Seeks to levy Anti -dumping duty on Flat Base Steel products originating in, or exported from, China

March 26, 2013 787 Views 0 comment Print

there has been continued dumping of the subject goods from People’s Republic of China and the dumping is likely to continue and increase if the anti-dumping duty is allowed to cease;

Exemption from customs duty on Import of Pulses extended upto 31-3-2014

March 26, 2013 831 Views 0 comment Print

Notification No. 18/2013 – Customs, Dated 26th March, 2013 Seeks to amend the notification No. 12/2012-Customs, dated 17th March, 2012 – Exemption from customs duty on Import of Pulses extended upto 31-3-2014

Regarding Exemption to goods when imported into India from Japan

March 26, 2013 907 Views 0 comment Print

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in

Interest Rate on NSC MIS MIS SCSS POTD WEF 01.04.2013

March 26, 2013 9521 Views 1 comment Print

Rate of interest on various small savings schemes for the financial year 2013-14 effective from 1-4-2013, on the basis of the interest compounding/payment built-in in the schemes, shall be as under :

Cost Audit Applicability for financial year starting on or after Jan 1, 2013

March 26, 2013 8727 Views 0 comment Print

MCA issues Cost Audit Order in suppression of earlier Cost Audit Orders During the year 2011-12, MCA issued various cost audit orders wherein maximum industries were brought under cost audit net. It needs attention that  to bring uniformity in reporting,the MCA had issued a notification vide S.O. 1747(E) dated 7th August, 2012 mentioning Product or […]

Change in shareholding by 2% or more to be disclosed now even if resultant shareholding falls below 5%

March 26, 2013 2238 Views 0 comment Print

NOTIFICATION NO. LAD-NRO/GN/2012-13/36/7368, DATED 26-3-2013 In exercise of the powers conferred under section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following Regulations to amend the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, namely:- 1. These regulations may […]

TP – When TPO may prefer TNMM or CUP over PSM where intangibles are involved

March 26, 2013 2557 Views 0 comment Print

Circular No. 2/2013-Income Tax SECTION 92C OF THE INCOME-TAX ACT, 1961, READ WITH RULE 10B OF THE INCOME-TAX RULES, 1962 – TRANSFER PRICING – COMPUTATION OF ARM’S LENGTH PRICE – APPLICATION OF PROFIT SPLIT METHOD CIRCULAR NO. 2/2013 [F. NO. 500/139/2012], DATED 26-3-2013 It has been brought to the notice of CBDT that clarification is needed for selection of profit split method (PSM) as most appropriate method. The issue has been examined in CBDT. It is hereby clarified that while selecting PSM as the most appropriate method, the following points may be kept in mind :

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