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Notifications/Circulars

Notification No. 12/2013-Customs – New Delhi, the 1st March, 2013

March 1, 2013 3459 Views 0 comment Print

(40) Conveyor system including conveyors for heat setting, cold setting, drying and reactivating and sterilizing of footwear with or without vacuum

Seeks to amend notification No. 9/2012-Customs, dated the 9th March, 2012, so as to revise the variation limit in respect to height and circumference in case of re-import of cut & polished diamond

March 1, 2013 835 Views 0 comment Print

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the

Seeks to amend notification No. 75/2005-Customs, dated the 22nd July, 2005 so as to make editorial changes in column (2) of S. No. 118, to align it with HS 2012

March 1, 2013 453 Views 0 comment Print

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act,1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the

Notification No. 9/2013-Customs – Dated- 1st March 2013

March 1, 2013 1398 Views 0 comment Print

Central Government hereby makes the following further amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 69/2004- Customs, dated the 9th July, 2004, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 411(E), dated the 9th July, 2004, namely :-

Mode of recovery of CENVAT credit wrongly taken, under CENVAT Credit Rules, 2004 -Reg

March 1, 2013 804 Views 0 comment Print

The principle rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), dated 10st September, 2004, vide Notification No. 23/2004-Central Excise (N.T.), dated the 10st September 2004,vide number G.S.R. 600(E), dated the 10th September, 2004 and last amended vide Notification No.28/2012 Central Excise (N.T) dated the 20th June, 2012, published in the Gazette of India

Reg. provision for interest on refund arising out of order of final assessment

March 1, 2013 652 Views 0 comment Print

Seeks to further amend the notification No. 4/2002-CE (N.T.), dated 1st March, 2002 so as to make provision for interest on refund, subject to sub-rule (6), arising out of an order of final assessment under sub-rule (3) of rule 7 of the Central Excise Rules, 2002

Regarding MRP based assessment with 35% abatement thereon, for branded medicaments

March 1, 2013 13491 Views 0 comment Print

Medicaments exclusively used in Ayurvedic, Unani, Siddha, Homeopathic or Bio-chemic systems, manufactured in accordance with the formulae described in the authoritative books specified in the First Schedule to the Drugs and Cosmetics Act

Director General of Civil Aviation Issues Guidelines for FDI in Civil Aviation Sector

March 1, 2013 925 Views 0 comment Print

The Civil Aviation sector, inter-alia, includes Airports, Scheduled and Non-Scheduled domestic passenger airlines sector, cargo airlines, Helicopter services/ Seaplane services, Ground Handling Services, Maintenance and Repair organizations, Flying training institutes, and Technical training institutions. The present policy of FDI in the Civil Aviation sector covers all Services mentioned above.

Residency Status based on TRC could not be question by IT department – FM

March 1, 2013 4037 Views 0 comment Print

Concern has been expressed regarding the clause in the Finance Bill that amends Section 90 of the Income-tax Act that deals with Double Taxation Avoidance Agreements. Sub-section (4) of section 90 was introduced last year by Finance Act, 2012.

Risk Management and Inter-Bank Dealings – A.P. (Dir Series 2012-13) Circular No. 86, Dated 1-3-2013

March 1, 2013 2312 Views 0 comment Print

Authorised Dealer banks should report all derivative transactions including forward exchange contracts on the basis of PV adjustment for the purpose of calculation of the net open position. Authorised Dealer banks may select their own yield curve for the purpose of PV adjustments. The banks however should have an internal policy approved by its ALCO regarding the yield curve/(s) to be used and apply it on a consistent basis.

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