F. No. 354/156/2014-TRU The above Reports are being discontinued with immediate effect. It is requested that the same may not be sent to the Ministry from now on.
It is clarified that all investments by Long Term FPIs (Sovereign Wealth Funds (SWFs), Multilateral Agencies, Endowment Funds, Insurance Funds, Pension Funds and Foreign Central Banks) in the USD 5 billion Government debt limit shall continue to be made in Government bonds having a minimum residual maturity of 1 year.
Doubts have been raised in certain quarters regarding powers of a Central Excise officer to conduct audit, in the background of a recent judgment of Hon’ble High Court of Delhi dated 04.08.2014 in case of M/s Travelite (India) [2014-TIOL-1304-HC-DEL-ST] wherein the Hon’ble court has held that the powers to conduct audit as envisaged in rule 5A (2) of the Service Tax Rules, 1994, does not have appropriate statutory backing and therefore quashed the rule.
Circular No. 14/2014-Income Tax CBDT had issued Circular No.12/2014 dated 18th July, 2014 to clarify that mere transfer or re-deployment of existing technical manpower from an existing unit to a new SEZ unit in the first year of commencement of business will not be construed as splitting up or reconstruction of an existing business, provided the number of technical manpower so transferred does not exceed 20 per cent of the total technical manpower actually engaged in developing software at any point of time in the given year in the new unit.
Difficulties have been expressed by various quarters in production of original boarding passes alongwith T.A. Claims from time to time. The matter has been considered and it has been decided with the approval of the competent authority that in order to simplify the procedure of settlement of T.A. Claims, the condition of submission of Boarding Pass alongwith settlement. T.A. claim is dispensed with.
The Central Board of Direct Taxes has issued an order to extend the last date of deposit of tax deducted at source/tax collected at source during the month of September, 2014 from 7th October, 2014 to 10th October, 2014 without entailing any consequential interest. However, the due date for filing of TDS/TCS statements for the 2nd Quarter of the F.Y. 2014-15 shall remain the same.
I have heard both the sides and of the considered view that the Diesel Generating sets are not manufacturing anything and they are only giving support to the machinery, hence, they are not covered under the intent of entry 86 of the Third Schedule appended to the DVAT Act 2004 because if if would have been the intention of the legislature then it would have been clearly mentioned in the entry itself.
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance
on the basis of the aforesaid preliminary findings of the designated authority, the Central Government had imposed the provisional anti-dumping duty on the subject goods, originating in or exported from the subject countries vide notification of the
In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the
