CIRCULAR NO. 10/2015 The Advance Pricing Agreement provisions were introduced in 2012 through insertion of sections 92CC and 92CD in the Income-tax Act, 1961 by the Finance Act, 2012. Subsequently, the Advance Pricing Agreement Scheme was notified vide S.O. 2005 (E), dated 30/8/2012, thereby inserting Rules 10F to 10T and Rule 44GA in the Income-tax Rules, 1962. CIRCULAR NO. 10/2015, Dated: June 10, 2015
The refund is a vital activity in VAT regime. The claim for the refund is made by the dealer in the return filed by the dealer and hence the return itself becomes the application for refund. As per the DVAT Act and DVAT Rules, refund has to be given to the applicant within a period of 60 days from the date of application.
Circular No. 19/2015-Custom Duty Dated- 9th June, 2015 New Handbook of Procedures (HBP) 2015-2020 has been notified by DGFT vide Public Notice No. 01/2015-2020 dated 01.04.2015. In this regard, attention is invited to CBEC Circular No. 17/2006-Cus dated 1st June, 2006 and Circular No. 19/2007-Cus dated 3rd June, 2007 as amended by Circular No.16/2014-Cus dated 18th December 2014 regarding units set up under EOU/ EHTP/ STP/ BTP scheme.
CIRCULAR NO 09/2015 In supersession of all earlier Instructions/Circulars/Guidelines issued by the Central Board of Direct Taxes (the Board) from time to time to deal with the applications for condonation of delay in filing returns claiming refund and returns claiming carry forward of loss and set-off thereof under section 119(2)(b) of the Income-tax Act (the Act), the present Circular is being issued containing comprehensive guidelines on the conditions for condonation and the procedure to be followed for deciding such matters.
CIRCULAR NO. 18/2015-Custom, Dated: June 09, 2015 Reference is invited to Notification No 60/2015-Customs (N.T.), dated 04.06.2015 whereby the power to appoint common adjudicating authority in cases investigated by DRI upto the level of Commissioner of Customs have been delegated to Principal Director General of Directorate of Revenue Intelligence in terms of section 152 of the Customs Act, 1962.
In suppression of this Department’s Circular Nos. 18, 20, 22, 24 & 27 of 2014-15, issued on the above mentioned subject, the Competent Authority is pleased to designate every Ward in-Charge, who is Assistant Commissioner/VATO, as the authorised Special
CIRCULAR No. CIR/MRD/DP/10/2015 Date- June 05, 2015 In order to ensure centralised record of all securities, including both physical and dematerialised shares, issued by the company and its reconciliation thereof, it has been decided that the Depositories shall create and maintain a database of distinctive numbers (DN) of equity shares of listed companies with details of DN in respect of all physical shares and overall DN range for dematerialised shares.
Circular No. 184/3/2015-ST Dated the 3rd June, 2015 It is further clarified that exemption from service tax still continues to services provided in relation to serving of food or beverages by a restaurant, eating joint or a mess, other than those having the facility of air-conditioning or central air-heating in any part of the establishment, at any time during the year.
Liberalised Remittance Scheme (LRS) for resident individuals- increase in the limit from USD 125,000 to USD 250,000 and rationalisation of current account transactions. Remittance facilities for persons other than individuals
In terms of Board’s letter of even no. dated 26.06.2012 service tax of 3.708% is levied on the total fare. As per General Budget 2015-16 announcement, the ‘Education Cess’ and ‘Secondary & Higher Education Cess’ shall be subsumed in the new service tax rate and service tax rate is proposed to be increased from 12% plus Education Cesses to 14%. Accordingly, it is proposed to modify para 3 of Board’s letter of even no. dated 26.06.2012 as under:
