Circular No.4/2010-Income Tax Section 80-IA(4)(i) provides for a deduction to an undertaking engaged in developing, or operating and maintaining, or developing, operating and maintaining any infrastructure facility subject to satisfaction of the conditions laid down in the Section. The Explanation to sub-section 80-IA(4)(i) states that for the purpose of this clause, infrastructure facility means inter alia
To give effect to announcement in the Budget Speech of Hon’ble Finance Minister for the year 2010-11, amendments have been made to the Maharashtra Value Added Tax Rules, 2005, published in the Official Gazette referred to above. These amendments have come into effect from 1st May 2010.
Please refer to Circular No. 752/68/2003-CX dated 01.10.’03 amended by Circular No. 865/3/2008-CX dated 19th February 2008 on the above subject. At present adjudication powers in Central Excise cases have been delegated upto the level of Assistant Commissioners only, and Superintendents are not vested with any authority to adjudicate cases.
To give effects to the Budget proposals a Bill (Legislative Assembly Bill No. XLV of 2010) to amend the Maharashtra State Tax on Professions, Trades, Callings and Employment Act, 1975, Maharashtra Tax on Luxury Act, 1987 and the Maharashtra Value Added Tax Act, 2002 was introduced in the Legislature. The said Bill has been passed by both the houses of the Legislature. The Act is now published in the Maharashtra Government Gazette dated 29th April 2010.
Circular No. CFD/DIL/6/2010, dated 17-5-2010. In recognition of the need for making finance available to small and medium enterprises, SEBI has decided to encourage promotion of dedicated exchanges and/or dedicated platforms of the exchanges for listing and trading of securities issued by Small and Medium Enterprises (SME).
Circular No. IRDA/CAGTS/CIR/LCE/082/05/2010, dated 17-5-2010. As you are aware, the New Agency Portal has come into operation from on 5th January, 2010. In connection with the operation of the said Portal, the following clarifications/instructions are issued by this Authority for compliance.
In a relief to insurance companies, the finance ministry has revoked its demand asking insurers to pay service tax on commission they receive from reinsurance companies. The Central Board of Excise and Customs (CBEC) has clarified that service tax cannot be levied on the reinsurance commission because an insurance company does not provide any service to a reinsurance company.
In view of Customs readiness to accept online transmission of DES (Advance Authorization), EPCG and DEPB authorizations at the following 9 ICES 1.5 new locations, all RA’s of DGFT may note that for all the newly added ports, aforesaid authorizations issued w.e.f. 17.5.2010, will be communicated online to Customs for necessary processing at their end. It may also further be noted that for all DEPB Shipping Bills issued w.e.f. 17.5.2010 from these ports, application will have to be filed mandatory in EDI mode:
Generally marine containers are temporarily brought into a customs territory and have to be re-exported within a specified period. Normally, a Full Container Load is taken out of the port and the activity of stuffing or de-stuffing takes place at the premises of the exporter/importer.
EBI has received feedback from investors and Investors’ Associations to improve transparency in the ‘grievance redressal mechanism’. Based on the same, transparency in ‘grievance redressal’ is identified as a key area to augment investor protection.
