F. No. 390/Misc./67/2014-JC The matter relating to the large number of appeals pending/ filed in the CESTAT/ High Court has been a matter of concern in this regard it has been decided to withdraw cases pending in High Court/ CESTAT, where Supreme Court has decided on an identical matter and the decision has been accepted by the Department.
Date for payment of Central Excise duty for November 2015 in the Union Territory of Puducherry (except Mahe & Yanam) extended to 20th December 2015 vide Notification No. 26/2015-Central Excise (N.T.) dated the 18th December, 2015.
Order No. 02/2015-Central Excise – CBEC extends the date of submission of, Form ER-1, ER-2, ER-6 for the clearances in the month of November, 2015 from 10th of December, 2015 to 31st of December, 2015 and Form ER-4(Annual Financial Information Statement) from 30th of November, 2015 to 31st of December, 2015, for the assessees in the Union Territory of Puducherry (except Yanam and Mahe) due to natural calamity of rains and flood.
Date for payment of Service Tax for November 2015 in the Union Territory of Puducherry (except Mahe & Yanam) extended to 20th December 2015 vide Notification No. Notification No. 27/2015-Service Tax, dated-18.12.2015.
F.No.307/32/2015-SO(PAC-Cus.) The assesing officers involved in the assessmsnt of B/E and Shipping Bills should follow the instructions issued by the Ministry and DG(System) from time to time. The jurisctional Commissioner should examine the audit objection at the time of submitting the comments/Action Taken Note to the Ministry carefully in light of lapses on the part of the officers noticed by the C&AG Audit.
Notification No. 145/2015-Customs (N.T.) In exercise of the powers conferred by clause (aa) of sub- section (1) of section 7 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs, hereby makes following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.12/97-CUSTOMS (N.T.), dated the 2nd April, 1997, published in the Gazette of India, Extraordinary, Part II, Section 3,Sub-section (i) vide number G.S.R. 193(E), dated the 2nd April, 1997, namely:-
Income Tax Circular No. 22/2015 W.c.f. 1.4.1988, the settled position is that if the assessee deposits any sum payable by it by way of tax, duty, ecss or fee by whatever name called under any law for the time being in force, or any sum payable by the assesse as an employer by way of contribution to any provident fund or superannuation fund or gratuity fund or any other fund for the welfare of employees, on or before the ‘due date’ applicable in his case for furnishing the return of income under section 139(1) of the Act, no disallowance can he made under section 43B of the Act.
A reference is invited to para 7 of the Master Circular on Mobile Banking transactions in India – Operative Guidelines for Banks dated July 1, 2015. Given the high mobile density in the country, the policy focus of RBI has been to encourage banks to leverage on the mobile channel for widening the access to banking services.
DBR.No.Dir.BC.67/13.03.00/2015-16 The Reserve Bank of India today released the final guidelines on computing interest rates on advances based on the marginal cost of funds. The guidelines come into effect from April 1, 2016. Apart from helping improve the transmission of policy rates into the lending rates of banks, these measures are expected to improve transparency in the methodology followed by banks for determining interest rates on advances.
CBEC increase monetary limits for filing appeals by Department before CESTAT to Rs. 10 Lakh from Earlier 5 Lakh and to Rs. 15 Lakh for Appeal before High Court from Earlier Limit of Rs. 10 Lakh. Limit of Rs. 25 Lakh for Filing Appeal before Supreme Court remains unchanged.
