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Analysis of MCA Amendment for Disclosure of Specified Bank Notes in Final Accounts & Auditors Report

March 31, 2017 8676 Views 5 comments Print

With a view of curbing Black Money in the economy the Ministry of Finance by its notification dated 08.11.2016 had discontinued the then Rs. 500 & Rs. 1000. Still various corporate were found to be involved in transactions which were illegal in nature.

Denouncing the Contemptuous acts of Advocates

March 31, 2017 1734 Views 0 comment Print

In a case, where the attitude of a lawyer is contemptuous, the Court may initiate the proceeding for contempt against the lawyer and restrain him from appearance. In Supreme Court Bar Association v. Union of India29, the Supreme Court held as under

Posting of ACIT (Probationers) on completion of training at NADT

March 31, 2017 1212 Views 0 comment Print

Order No. 45 of 2017 – Posting of Assistant Commissioners of Income Tax (Probationers) on completion of training at National Academy of Direct Taxes (NADT) – reg.

CBDT promotes 8 Asst. Director(s) in the grade of Dy. Director(s)

March 31, 2017 2319 Views 0 comment Print

The President is pleased to order that following Assistant Director (Systems) be promoted to the grade of Deputy Director (Systems) in Pay Band 3, Rs.15,600-39,100/- plus Grade Pay of Rs. 6600/-, (as per 6th Pay Commission) with effect from 01.04.2017 or the date of their joining in the higher grade, whichever is later, until further orde

Compilation of various Public Notices related to Direct Port Entry Procedure

March 31, 2017 927 Views 0 comment Print

There has been request from various stakeholders for issue of compilation of such Public Notices issued in relation to Direct Port Entry (DPE) Procedure. Accordingly, brief about each Public Notice is given below in tabular form:

Rate of interest on small savings scheme w.e.f. 01.04.2017

March 31, 2017 2685 Views 0 comment Print

Rates of interest on various small savings schemes for the first quarter of financial year 2017-18 starting on 1st April, 2017 and ending on 30th June,2017, on the basis of the interest compounding/payment built-in in the schemes, shall be as under:

Procedure for clearance of export cargo categorised as Hazardous Goods

March 31, 2017 8892 Views 0 comment Print

It has been noticed that Containers declared to be containing Hazardous cargo are allowed Direct Port Entry without examination, even if RMS Instructions are for Open & Examination.

Compilation of various Public Notices issued in relation to DPD Procedure

March 31, 2017 1086 Views 0 comment Print

There has been request from various stakeholders for issue of compilation of such Public Notices issued in relation to DPD Procedure for smooth clearance of consignments and to reduce dwell time of import.

Procedure for receipt & digitization of Drawback Refund claims

March 31, 2017 957 Views 0 comment Print

The procedure for receipt and digitization of the above claims and manual brand rate of drawback claims will be as follows: (a) A service centre for receipt and digitization of the above mentioned claims will be functional in the EDI building in JNCH and all the above mentioned claims will be submitted to the receiving clerk posted there.

Certain clarifications about DPD facility -Reg.

March 31, 2017 900 Views 0 comment Print

It has been represented by Trade / DPD Importer that cases where DPD importer has not indicated any preferred CFS Code [i.e. Containers are stacked in DPD Stacking as per choice indicated by DPD Client], Port Terminal Operator are not allowing goods to move to CFS untill 48 hours are over

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