Notification No. 87/2011-Customs, Date- 9th September, 2011 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 the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 20/2006-Customs,
Government has formulated a five pronged strategy to tackle the menace of black money which is as below: (i) Joining the global crusade against black money, (ii) Creating an appropriate legislative framework,(iii) Setting up institutions for dealing with Illicit Funds,(iv) Developing systems for implementation (new manpower policy); and (v) Imparting skills to the manpower for effective action (constant training for skill development).
Gross direct tax collections during the first five months of the current fiscal (April – August 2011) were up by 25.89 percent at Rs. 154,360 crore as against Rs. 122,618 crore in the same period last fiscal. While gross collection of corporate taxes was up 29.72 percent (Rs.96,597 crore against Rs. 74,463 crore last year), gross collection of personal income tax was up by 19.91 percent (Rs.57,582 crore against Rs. 48,023 crore last year).
The Government of the Republic of India signed a Double Taxation Avoidance Agreement (DTAA) with the Oriental Republic of Uruguay for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income and on capital on 8th September, 2011.
Circular No. 952/13/2011-CX Board has received several representations from Associations, Chambers of Commerce, Trade Bodies etc., about the divergent procedures followed by the field formations regarding examination and stuffing of export containers in the factory or warehouse under the supervision of Central Excise Officers.
In case of any request from these unitholders as detailed above for physical copies notwithstanding their registration of email addresses, AMCs shall provide the same without demur.
Order No. 155 of 2011 , Dated- 8th September 2011 -The following officers in grade of ACIT/DCIT and JCIT/Addl. CIT are hereby transferred and posted at the post indicated against each in the Directorate of International Taxation and Transfer Pricing with immediate effect and until further orders:-
As a measure of simplification of the existing procedures, it has been decided to delegate powers to the designated AD Category-I banks to approve the request from the ECB borrowers with respect to change in the recognized lender when the original lender is an international bank or a multilateral financial institution (such as IFC, ADB, CDC, etc.) or a regional financial institution or a Government owned development financial institution or an export credit agency or supplier of equipment and the new lender also belongs to any one of the above mentioned categories, subject to the Authorised Dealer ensuring the following conditions:
Deferred Payment Protocols dated April 30, 1981 and December 23, 1985Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No.41 dated February 11, 2011, wherein the Rupee value of the special currency basket was indicated as Rs. 64.7004 effective from January 31, 2011..
Minimum Export Price (MEP) of all varieties of onions including Bangalore Rose Onions and Krishnapuram Onions will be US$ 475 per Metric Ton F.O.B. It was US$ 300 per Metric Ton for general category onion as notified on 24.08.2011 and US$ 400 per MT F.O.B. for Bangalore Rose Onions and Krishnapuram onions as notified on 12.08.2011. Notification No 70 (RE – 2010)/2009-2014, Dated: 7th September, 2011
