I am directed to say that the scope of levy of service tax on “banking and other financial services” defined under section 65(12) of the Finance Act, 1994 and classifiable as taxable service under section 65(105)(zm) of the Finance Act, 1994 has been examined in the context of certain services provided by the Department of Posts
The matter was re-examined and it has been decided that in all such cases where the Settlement Commission has given a decision prior to 1.4.2005, the same should also be dealt by the Regional Authorities concerned at par with the cases relating to the period on or after 1.4.2005.
I am directed to refer to Board’s Circular No. 581/18/2001-CX dated 29th June, 2001 which interalia, specifies conditions, procedures, class of exporters and places under sub- rule (2) of rule 20 of Central Excise Rules, 2002 for warehousing of excisable goods for the purpose of export. In paragraph 2(2) of the said Circular, the Board has specified places where warehouses may be established.
However, the said certification shall not be applicable to Fixed Maturity Plans and close-end schemes but shall be applicable to close-end schemes with a feature of conversion into open-ended on maturity.
Representations have been received in this office regarding non–implementation of the validity period as provided in the above Para 3.12.3 of HBP Vol I. In this regard, it is directed that Export Promotion Councils including Commodity Boards functioning as Export Promotion Councils shall implement the provision of Para 3.12.3 of HBP, which provides 5-year validity of RCMC.
The portfolio managers’ decision ( taken in good faith ) in deployment of the Clients’ account is absolute and final and cannot be called in question or be open to review at any time during the currency
The portfolio managers’ decision in deployment of the Clients’ account is absolute and final and can never be called in question or be open to review at any time during the currency of the agreement or any time thereafter.
Circular No. 6/2006-Income Tax As per the provisions of section 203 of the Income-tax Act, read with rule 31 of Income-tax Rules, every person deducting tax in accordance with the provisions of the Act shall, within a period of one month from the end of the month during which the tax was deducted
With immediate effect, all the exporters and importers of Schedule 2 and 3 Chemicals of Chemical Weapons Convention are hereby advised to ensure that correct description of the Chemicals as well as their 8 digit HS Codes against them (as notified against Category 1A and 1B under Appendix-3 to Schedule 2 of ITC(HS) Classifications of Export and Import Items, 2004-2009, Notification No.15 dated 15.7.2005 refers) is indicated in their respective Shipping documents.
We are enclosing a copy of the gazette notification no. S.O. 783(E) dated May 22, 2006 pertaining to SEBI (Mutual Funds) (Second Amendment) Regulations 2006 for your information and implementation.
