Under withering criticism for its handling of the country’s economic slowdown and Mumbai’s terrorist attacks, the Indian government fought back over the weekend, announcing a coordinated, two-flanked stimulus plan that could top $8 billion. India’s moribund stock market momentarily cheered, rising almost 4 per cent by midday (Monday). But it then deflated, closing up just 1.5 per cent, on a day when other Asian markets soared on optimism about economic recovery plans in the US and China.
Eighteen companies, collectively planning to raise Rs 9,000 crore (Rs 90 billion) through initial public offers, will benefit from the Securities and Exchange Board of India’s new norms to extend the IPO validity period from three months to a year.
The three-day-long terror strike on the country’s financial capital was devastating in terms of its reach and impact. It has left Corporate India badly shaken and the elites numb.It is no more about bombs being thrown at bus stations or trains getting blasted. It is no longer about only Nagpada or Govindpuri residents losing limbs and lives. Terror has now climbed up the value chain.
Two I-T officials in CBI net for graft Dec 10, 2008 CBI laid two traps to nab the officials after being alerted by credit co-op societies that had been `threatened’ with punitive action.Two senior officials of the Income Tax department were arrested by the Central Bureau of Investigation (CBI) on Tuesday after being caught accepting a bribe of Rs 80,000 each from officials of credit cooperative societies.
Consequently, the above mentioned Goods are entitled to benefits under High Value Added Manufactured Goods category (Para 3.10.2 of Foreign Trade Policy, 2004-09) on exports made w.e.f 1.4.2008, only if condition in Note 2 above is fulfilled to the satisfaction of the RA concerned .
In exercise of the powers conferred by Section 5 read with Section 3(2) of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) and also read with Para 1.3 and Para 2.1 of the Foreign Trade Policy, 2004-2009, the Central Government hereby makes the following addition with immediate effect at the end of Paragraph 2 of Notification No. 33(RE-2007)/2004-2009, dated 08.10.2007 (pertaining to prohibition on export of wheat and wheat products).
In exercise of the powers conferred by sub-section (1) and sub-section (5) of section 9A of the Customs Tariff Act, 1975 (51 of 1975) read with rules 18 and 23 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995, the Central Government, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance, Department of Revenue No. 86/2007-CUSTOMS dated the 10th July, 2007, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) of vide number G.S.R. 477(E), dated the 10th July, 2007, namely
The Income Tax Department (ITD) creates Annual Tax Statement of each taxpayer using their Permanent Account Number (PAN) as identifier. The tax statement contains details of tax paid by the taxpayer himself (self assessment/advance tax) and also details of tax deducted/collected from him during the financial year.
The Finance Act, 1994, provided for levy of service-tax in respect of ‘Taxable services’. Section 68 of the aforesaid Act lays down that the provider of taxable services shall be liable for payment of service tax, at the specified rate. The relevant provisions in this regard are section 68 of the Finance Act, 1994, as also Rule 6 of the Service-Tax Rules.
In pursuance of the provisions of paragraph 2.4 of FTP, the Director General of Foreign Trade (DGFT) hereby notifies the compilation known as HBP v1, HBP v2 and Schedule of DEPB rates. These compilations, as amended from time to time, shall remain in force ‘until further amendments’ except DEPB Scheme which shall continue to be operative till May 2009.
