Notification No. 104 /2011-Customs Whereas in the matter of imports of Hot Rolled Flat Products of Stainless Steel of ASTM Grade 304 with all its variants,(hereinafter referred to as the subject goods), classified under Chapter 72 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), originating in, or exported from, European Union, Korea RP, South Africa, Taiwan and USA (hereinafter referred as the subject countries) and imported into India, the designated authority in its final findings vide notification No. 14/12/2010-DGAD, dated the 11th October, 2011, published in the Gazette of India, Extraordinary, Part I, Section 1, the dated 11th October , 2011, had come to the conclusion that –
Each bank will have to offer a uniform interest rate on savings bank deposits up to Rs. 1 lakh, irrespective of the amount in the account within this limit. Second, for savings bank deposits over ` 1 lakh, a bank may provide differential rates of interest, if it so chooses, subject to the condition that banks will not discriminate in the matter of interest paid on such deposits, between one deposit and another of similar amount, accepted on the same date, at any of its offices.
Notification No. 81/2011 Cus.(NT) dated 25.11.2011: Central Board of Excise and Customs has issued new Customs (Provisional Duty Assessment) Regulations, 2011. The new regulations provide that duty can be provisionally assessed by the proper officer if an importer/exporter is unable to make self-assessment under section 17(1) of the Customs Act, 1962 or if the proper officer is not able to verify the self-assessment or make re-assessment of the duty on the imported/export goods.
Notification No. 80/2011 – Customs (N.T.) – (1) These regulations may be called the Shipping Bill (Electronic Declaration) Regulations, 2011.(2) They shall apply to export of goods from all customs stations where the Indian Customs Electronic Data Interchange System is in operation. (3) They shall come into force on the date of their publication in the Official Gazette.
We forward herewith 5 copies of Government of India Notification G.S.R. 770 (E) dated October 19, 2011, on the captioned subject, the contents of which are self-explicit. In this regard, we advise that the contents of the Notification may be brought to the notice of the branches of your bank operating the SCSS, 2004 and may also be displayed on the notice boards of your branches for the information of the SCSS, 2004 subscribers.
Notification No. 79/2011 – Customs (N.T.) These regulations may be called the Bill of Entry (Electronic Declaration) Regulations, 2011. (2) They shall apply to the import of goods through all customs stations where the Indian Customs Electronic Data Interchange System is in operation. (3) They shall come into force on the date of their publication in the Official Gazette.
‘Self-Assessment’ in Customs has been implemented w.e.f. 8.4.2011 vide Finance Act, 2011 by suitable changes to Sections 17, 18, 46 and 50 of the Customs Act, 1962. Self-Assessment interalia requires importers / exporters to correctly declare value, classification, description of goods, exemption notifications etc. and self assess the duty thereon, if any. As Self-Assessment is newly introduced, the Central Board of Excise and Customs is releasing this Manual to guide importers / exporters in making correct Self-Assessment of duty of imported or export goods.
The time has come for all the stakeholders in the growth of Indian economy to come forward and launch a national movement to build a culture of competition so as to promote innovation, entrepreneurship and inclusive growth and to be part in ushering second generation of reforms. This was stated by the Minister for Corporate Affairs, Dr M Veerappa Moily at the Conference on Building
The Cabinet today approved the Companies Bill 2011 which, once approved by Parliament, will replace half-a-century-old Act.Companies Bill, 2011 is likely to be tabled (for consideration and passage) in the ongoing Winter Session. The Bill, which has already been vetted by the Parliamentary Standing Committee of Finance and also by different ministries, seeks to update the company law in line with the best global practices.
Union Cabinet today cleared the bill to increase foreign direct investment to 51% in multi-brand retail and 100% in single brand. Commerce and industry minister Anand Sharma said that he would give a statement in Parliament on retail FDI. Currently, India allows 51% FDI in single brand retail and 100% FDI in cash and carry format of the business.
