Circular No. 17/2011 Ministry of Corporate Affairs has taken a “Green Initiative in the Corporate Governance” by allowing paperless compliances by the Companies after considering sections 2, 4, 5, and 81 of the Information Technology Act, 2000 for legal validity of compliances under Companies Act through electronic mode. Section 53 of the Companies Act, 1956 provides service of documents under ‘Certificate of posting’ as one of the accepted mode of service. Whereas the Department of posts has recently discontinued the postal facility under ‘Certificate of posting’ vide their letter dated 23.02.201 1. The Information Technology Act, 2000 also permits service of documents etc., in electronic mode.
Section 53 of the Companies Act, 1956 provides service of documents under ‘Certificate of posting’ as one of the accepted mode of service. Whereas the Department of posts has recently discontinued the postal facility under ‘Certificate of posting’ vide their letter dated 23.02.2011. The Information Technology Act, 2000 also permits service of documents etc., in electronic mode.
CIRCULAR NO 135/4/2011-ST – The existing Service Tax Audit Manual has been in use since 2003. With experience gained while conducting audits and rapid change in service tax law over the years, growth in service tax categories, assessee base as well as revenue, a need was felt to update the manual. The Board had set up a Working Group in 2009. The manual prepared by the Working Group was discussed in Board meetings for considering the various amendments and proposals to be included in the manual. The Board has since approved the Service Tax Audit Manual 2011 and will be circulated by the Directorate General of Audit. All Service Tax audits should henceforth be carried out in accordance with the principles laid down in the said Manual and the extant prevalent instructions. This Manual is for the use of departmental officers only.
Circular No. 137/6/ 2011– ST- Assistance provided by a visa facilitator, for obtaining visa, to a visa applicant or for foreign employer does not fall within the scope of supply of manpower service. Visa facilitators, while providing visa assistance directly to individuals does not act on behalf of the embassies, as agents of the principal and hence service tax is not leviable within the meaning of business auxiliary service. Also where the assistance is rendered to an individual directly, by a visa facilitator, and the visa applicant pays the service charge on his own (meaning such service charge is not borne by any business entity), the same cannot be considered as support service for business or commerce.
CIRCULAR NO 136/5/2011-ST – Service provided by a restaurant having air-conditioning and license to serve alcoholic beverages in relation to serving of food or beverage, including alcoholic beverages or both, in its premises [Finance Act 1994, Section 65(105) ( zzzzv )]. Service provided by a hotel, inn, guest house, club or campsite in relation to providing of accommodation for a continuous period of less than three months[Finance Act 1994, Section 65(105) ( zzzzw )]
Every Central Government Company which is applying to the Central Government for amalgamation with any other Government Company or Companies under the simplified procedure prescribed in this circular, shall obtain approval of the Cabinet i.e. Union Council of Ministers to the effect that the proposed amalgamation is essential in the ‘public interest’.
Policy Circular No. 29(RE-2010)/2009-14 – All applications for grant of registration certificate shall be submitted to the RA, Guwahati alongwith the following documents: (i) Copy of Export Contract alongwith, (a) A copy of irrevocable Letter of Credit(LC) duly authenticated by an Indian Bank, or (b) FIRC from Bank showing receipt of remittance from the concerned foreign buyer as proof of having received 100% Advance Payment or a minimum of 25% Advance Payment and balance Cash Against Delivery(CAD),
Circular No.21 / 2011-Customs, The Central Board of Excise and Customs has made declaration of IEC branch code and AD code as non-mandatory in case low value dutiable import consignments (i.e. consignment other than documents, gifts and samples of an invoice value upto Rs. one lakh) under Courier Imports and Exports (Electronic Declaration and Processing) Regulations, 2010. The disclosure of IEC code will continue to be mandatory.
It has now been decided that in order to reduce the cost to exporters (i.e. interest cost on overdue export bills), exporters with overdue export bills may also extinguish their overdue post shipment rupee export credit from their rupee resources. However, the corresponding GR form will remain outstanding and the amount will be shown outstanding in XOS statement. The exporter’s liability for realisation would continue till the export bill is realised. DBOD.Dir.BC.No. 85 /04.02.001/2010-11
Section 50(2) of the Maharashtra Value Added Tax Act, 2002 provides for claiming the refund at the end of financial year and does not permit the dealer to carry forward the refund to the next financial year. Considering the difficulties faced by the trade, it was administratively decided to permit such adjustment for the year 2009-10 as per Trade Circular 1ST of 2010 dated 15.04.2010.
