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Notifications/Circulars

No TDS on specified Nature of payment to Scheduled Bank

December 31, 2012 16687 Views 0 comment Print

Income Tax Government hereby notifies that no deduction of tax under Chapter XVII of the said Act shall be made on the payments of the nature specified below, in case such payment is made by a person to a bank listed in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934), excluding a foreign bank, namely:-

Notification No. 68/2012-Customs, Dated: 31.12.2012

December 31, 2012 6407 Views 0 comment Print

all goods, other than the goods specified in TABLE II, of the description specified in column (3) of the TABLE I here to annexed and falling under the Chapter, Heading, Sub-heading or Tariff item of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), and specified in the corresponding entry in column (2) of the said TABLE

Amendment in Concessional Duty rate of Goods imported into India from Malaysia

December 31, 2012 997 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, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further

Amendment in Concessional Duty rate of Goods imported into India from Korea

December 31, 2012 1222 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, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in

Amendment in Duty rate of Goods imported into India from Japan

December 31, 2012 1201 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, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further

Revised list of Items for Custom Duty Concession when imported from ASEAN Countries

December 31, 2012 1883 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, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further

Duty Exemption to Crude Petroleum oils & oils obtained from bituminous minerals when imported from Brunei Darussalam

December 31, 2012 748 Views 0 comment Print

Notification No. 63/2012-Customs Govt hereby exempts Crude Petroleum oils and oils obtained from bituminous minerals falling under the tariff item 2709 00 00 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India from Brunei Darussalam, from whole of the duty of customs leviable thereon under the First Schedule to the Customs tariff Act, 1975 ( 51 of 1975):

Amendment in Tariff value of Gold, Silver, Crude /RBD Palm Oil, Brass Scrap, Poppy seeds

December 31, 2012 1349 Views 0 comment Print

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 notification of the

Liaison Office (LO) / Branch Office (BO) in India by Foreign Entities – Reporting to Income Tax Authorities

December 30, 2012 5174 Views 0 comment Print

RBI had mandated that Branch Offices (BO) / Liaison Offices (LO) are required to submit Annual Activity Certificate (AAC) from their Auditors to the Central Office / Regional Office of the Reserve Bank, certifying that the BO / LO has carried out only those activities which are approved by the Reserve Bank. With effect from February 01, 2010

Direct credit of Refund/ Rebate to the Exporters’ credit by way of Electronic payment under RTGS/ NEFT facility

December 30, 2012 1579 Views 0 comment Print

It has been brought to our notice that the present practice of issuing account payee cheques to the refund claimants is cumbersome and it also entails lot of paperwork, including return of cheques due to incomplete address and other clerical errors, leading to considerable delay in realisation of the refund! rebate amounts by the claimants.

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