Customs duty is leviable @ 36.05% (Basic Customs duty @ 35% + Education Cess @3%) on the value of dutiable goods that is in excess of the Duty Free Allowance.
It has come to the notice of the CBDT that the officers, even after giving notice for VRS, continue to take decisions of sensitive nature. The Centeral Vigilance Commission(CVC) has taken a serios view of this practice.
Further, it has also been decided that issue of corporate guarantee on behalf of second generation or subsequent level step down operating subsidiaries will be considered under the Approval Route, provided the Indian Party indirectly holds 51 per cent or more stake in the overseas subsidiary for which such guarantee is intended to be issued.
On submission of the proof of current address, the account would be treated as a normal NRO account, and will be operated in terms of instructions contained in RBI’s Master Circular on Non-Resident Ordinary Rupee (NRO) Account No. RBI/2013-14/2 Master Circular No.2/2013-14 dated July 1, 2013 issued by our Foreign Exchange Department, Central Office and the provisions of Schedule 3 of FEMA Notification 5/2000 RB dated May 3, 2000may also be kept in view.
On a review of the policy, it has been decided to enhance the ceiling on loans to individuals for carrying out repairs / additions / alterations to their dwelling units to ` 2 lakh in rural and semi-urban areas and ` 5 lakh in urban areas.
9A. Any services provided by, _ (i) the National Skill Development Corporation set up by the Government of India; (ii) a Sector Skill Council approved by the National Skill Development Corporation; (iii) an assessment agency approved by the Sector Skill Council or the National Skill Development Corporation;
In view of the prevailing market conditions, it has further been decided that AD Category I banks, at their option, can enter into a swap transaction with RBI in respect of the borrowings raised after the date of this circular.
Notify that the Form DP-1 shall be submitted online by all the dealers latest by 16-10-2013.
In exercise of the powers conferred under Rule 49 A of the DVAT Rules 2005, the last date for filing of Annexure 2C and Annexure 2D forming part of the return in Form DAVAT-16 pertaining to the 1st quarter ending 30.06.2013 is hereby extended as per Schedule given below:
For the purposes of this sub-regulation, for the removal of doubts, it is clarified that the acts or omissions listed in this sub-regulation are not exhaustive and that an act or omission is prohibited if it falls within the purview of regulation 3, notwithstanding that it is not included in this sub-regulation or is described as being committed only by a certain category of persons in this sub-regulation.
