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Notifications/Circulars

Notification No. 24/2016-Customs Dated: 28th March, 2016

March 28, 2016 1150 Views 0 comment Print

Seeks to further amend notification No. 12/2012-Customs, dated the 17th March, 2012 so as to (i) continue BCD @ 25% on import of wheat beyond 31.03.2016 upto 30.06. 2016 (ii) retain BCD @ 40% on import of Ghee Butter and Butteroil, beyond 31.03.2016 for a period upto 30.09.2016

Delhi VAT: VAT deduction at source in respect of works contracts

March 28, 2016 5635 Views 0 comment Print

It is to bring to kind notice of all that section 36 A of the Delhi Value Added Tax Act, 2004 requires every person, at the time of making payment or credit to a contractor, to deduct TDS @ 4%, if the contractor is a registered dealer or @ 6% in case the contractor is unregistered.

Banks to conduct Special Clearing on March 30 & 31, 2016

March 28, 2016 8368 Views 0 comment Print

With a view to facilitate accounting of all the Government transactions for the current financial year (2015-16) by March 31, 2016, it has been decided to conduct special clearing at all clearing houses across the country on March 30 and 31, 2016 as detailed below:

CBEC notifies Accounting Codes for Infrastructure Cess

March 28, 2016 3253 Views 0 comment Print

No. Coord/13-6/H/A/c/VoI.VIII/333 0/0 Pr. Chief Controller of Accounts Central Board of Excise & Customs A.G.C.R. Building, 1st Floor, I.P. Estate, New Delhi. Dated:28 -03-2016 Office Memorandum Subject:- Opening of New Minor Head “506-Infrastructure Cess” below Sub-Major Head “03-Non-Sharable Duties” under Major Head “0038-Union Excise Duties”. The undersigned has been directed to inform that the following […]

Prevention of use of non-genuine transferable duty credit scrips

March 28, 2016 2494 Views 0 comment Print

Instances of unscrupulous persons being able to put to use non-genuine transferable duty credit scrips or duty free import authorizations (purported to relate to chapters 3/5 or 4, respectively, of the respective Foreign Trade Policy) have been noticed in the field formations.

President assents Aadhaar Act, 2016

March 26, 2016 5896 Views 0 comment Print

This Act may be called the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016. An Act to provide for, as a good governance, efficient, transparent, and targeted delivery of subsidies, benefits and services, the expenditure for which is incurred from the Consolidated Fund of India, to individuals residing in India through assigning of unique identity numbers to such individuals and for matters connected therewith or incidental thereto.

Real Estate (Regulation and Development) Act, 2016

March 25, 2016 25243 Views 0 comment Print

An Act to establish the Real Estate Regulatory Authority for regulation and promotion of the real estate sector and to ensure sale of plot, apartment or building, as the case may be, or sale of real estate project, in an efficient and transparent manner and to protect the interest of consumers in the real estate sector and to establish an adjudicating mechanism for speedy dispute redressal and also to establish the Appellate Tribunal to hear appeals from the decisions, directions or orders of the Real Estate Regulatory Authority and the adjudicating officer and for matters connected therewith or incidental thereto.

Govt permits upto 49% FDI in pension sector under automatic route

March 23, 2016 1099 Views 0 comment Print

The Government of India has liberalized its Foreign Direct Investment (FDI) policy on Pension sector. Accordingly, Paragraph 6.2.18.7 his. of `Consolidated FDI Policy Circular 2015′, effective from 12.5.2015, is amended to read as below:

FTP: Reconstitution of Board of Trade (BoT)

March 23, 2016 1657 Views 0 comment Print

It has been decided to reconstitute the Board of Trade as per the provisions given in the Para 300 of Foreign Trade Policy Statement 2015-2020. The objective is to have continuous discussion and consultation with trade and industry. The Board of Trade would, inter-alia, advise the Government on policy measures related to Foreign Trade Policy in order to achieve the objective of boosting India’s trade.

Govt permits upto 49% FDI in Insurance sector under automatic route

March 23, 2016 1522 Views 0 comment Print

The Government of India has liberalized its Foreign Direct Investment policy on Insurance Sector. Accordingly, Paragraph 6.2.18.7 of `Consolidated FDI Policy Circular 2015′, effective from 12.5.2015, is amended to read as below:

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