In view of the difficulties faced by exporters / importers in meeting the condition firm irrevocable order backed by a tripartite agreement should be in place specified in the above mentioned Circular, it has been decided that this requirement may not be insisted upon in case where documentary evidence for circumstances leading to third party payments / name of the third party being mentioned in the irrevocable order/ invoice has been produced.
The Media interaction should broadly aim at achieving the following purpose: a. To disseminate information to the public at large about their entitlements and obligations in respect of Direct Tax Laws. b. To highlight the steps taken for facilitating compliance to the Direct Tax Laws.
n partial modification of Circular No.31 dated 31/12/2013 of 2013-14 and in exercise of the powers conferred under rule 49A of the Delhi Value Added Tax Rules, 2005, I, Prashant Goyal, Commissioner, Value Added Tax, do hereby extend the last date for filing of third quarter return of 2013-14 to 07/02/2014.
The Ministry had received representations from Export Promotion Councils, Trade Associations, individual segments of industry, as well as feedback from field formations and other Departments, after the All Industry Rates (AIR) of Duty Drawback effective 21.9.2013 were notified vide Notification No. 98/2013-Cus. (N.T.) dated 14.09.2013.
Government of India enhanced the Government debt investment limits by USD 5 billion in June 2013. Vide circular CIR/IMD/FIIC/8/2013 dated June 12, 2013, the additional limits of USD 5 billion were made available within the overall Government debt limit of USD 30 billion. This additional limit was made available only to FIIs which are registered with SEBI under the categories of Sovereign Wealth Funds (SWFs), Multilateral Agencies, Endowment Funds, Insurance Funds, Pension Funds and Foreign Central Banks.
The procedure for issuance of statutory declarations/forms under the Central Sales Tax Act, 1956 has been prescribed by the Trade Circulars referred above. At present, for obtaining declaration or certificates, the dealer submits/uploads application called SOR (Statement of Requirement) electronically.
CBDT CIRCULAR NO.03/2014 Section 10 Change in the definition of keyman insurance policy, exemption to income of investor Protection Fund of depositors, pass through status to certain Alternative Investment Funds exemption of income received in India in Indian currency by a foreign company exemption to National Financial Holdings company Limited
Under the compounded levy scheme, excise duty is chargeable with respect to deemed production based on the number of packing machines in the factory of the manufacturer. The issue raised is whether excise duty can be re-determined based on the speed of the packing machine and actual production thereof, which may be higher than the deemed production
Sales Tax Department of Maharashtra Government issued TRADE CIRCULARS No. 3T OF 2014 Dated 24.01.2014 declaring Special Amnesty Scheme 2013 declared by the Department of Industries. Download TRADE CIRCULARS No. 3T OF 2014 Dated 24.01.2014
Circular No. 2/2014-Income Tax The Central Board of Direct Taxes had issued Circular No. 447 (hereinafter called “the Circular”) on 22nd January, 1986 clarifying that awards received by a sportsman, who is not a professional, will not be liable to tax in his hands as the award will be in the nature of a gift and/or personal testimonial. 2. The said Circular was applicable in a tax regime when gift was not taxable in the hands of the recipient and with the fundamental change
