Regarding issue whether an application for benefit under Export Promotion Schemes which is submitted after the last date of application can be considered under Para 9.3 of Hand Book of Procedure with late cut of 10% on entitlement, it is clarified that Para 9.3 is general in nature and this is applicable to all schemes unless and until it is stated otherwise in Policy/ Procedure.
Software exporters shall register themselves with Electronic and Software Export Promotion Council. An exclusive Services Export Promotion Council for has been set up to give proper direction, guidance and encouragement to selected Services Sector. Exporters of 13 specific services as listed in Sl No. 34 of Appendix-2 of Handbook of Procedure (Volume -I) are required to register themselves with the Services Export Promotion Council.
In exercise of the powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) read with Para 1.3 and Para 2.1 of the Foreign Trade Policy, 2004-2009, the Central Government hereby makes the following amendments in the ITC(HS) Classifications of Export and Import items.
JCIT Vs Mukund Limited (ITAT Mumbai) – The consideration of Rs.2.04 crores paid by the assessee company for obtaining the leasehold rights from MIDC in favour of the assessee for a period of 99 years is capital in nature and therefore, not allowable as deduction to the assessee.
Notification No. 130 – Income Tax Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O. 461(E) dated the 5th April, 2004, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 7, for Construction of home for mentally and
Notification No. 124 – Income Tax Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O. 224(E), dated the 16th March, 1994, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 3, for World Memorial Fund T.B. Project-Four mobile teams at
Notification No. 65 – Income Tax In exercise of the powers conferred by the clause (23EA ) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the “The Stock Exchange Investors’ Protection Fund, The Stock Exchange, Mumbai, 25th Floor, P.J. Towers, Dalal Street, Fort Mumbai-400023” as an Investor Protection Fund set-up by ‘The Stock Exchange, Mumbai
The issue of possibility of import of livestock & livestock products by Diplomats without requisite quarantine check was also discussed. Ministry of External Affairs informed that they only issue Customs duty exemption certificates for duty free import of goods by Diplomats.
The principal notification No.21/2002-Customs, dated the 1st March, 2002 was published in the Gazette of India, Extraordinary, vide G.S.R.118 (E), dated the 1st March, 2002 and was last amended by vide notification No.20/2007-Customs, dated the 1st March, 2007 which was published vide number G.S.R. 117(E), dated the 1st March, 2007. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No.36/2008-Customs New Delhi, the 17th March, 2008 G.S.R. (E).- 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 the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 39/96-Customs, dated the 23rd July, 1996 which was published in the Gazette of India, Extraordinary, vide number G.S.R.291(E), of the same date, namely:- In the said notification, in the Table, against S.No.29, in column (3), in the Explanation, for the words, letters and figures “the 1st day of December, 2007”, the words, letters and figures “the 1st day of June, 2008” shall be substituted. [F.No.354/190/1999-TRU (part)] (S. Bajaj) Under Secretary to the Government of India Note:- The principal notification No.39/1996-Customs, dated the 23rd July, 1996 was published in the Gazette of India, Extraordinary, vide G.S.R. 291(E), dated the 23rd July, 1996 and was last amended vide notification No.14/2008-Customs, dated the 4th February, 2008 which was published vide number G.S.R. 67 (E), dated the 4th February, 2008.
Notification No.66 – Income Tax In the notifications of the Government of India, Ministry of Finance (Department of Revenue), number S.O.235(E) to 250(E), dated the 15th February, 2007, published in the Gazette of India, Extraordinary, Part – II, Section 3, sub-section (ii) dated 15th February, 2007, S O. numbers and F. Nos. are correct in the English version whereas the S.O. numbers and F. Nos. of Hindi
