ORDER NO. 7/FT&TR/2011 [F.NO.500/15/2011-FT&TR-I], DATED 1-9-2011 In partial modification of Order No. 6/FT&TR/2011, dated 24-8-2011 and in exercise of powers conferred under section 144C of the Income-tax Act, 1961, the Board hereby reconstitutes the Dispute Resolution Panel (DRP) comprising of three Commissioners of Income-tax/Directors of Income-tax as Members of DRP-II, Mumbai, who shall perform such duties in addition to their regular duties with immediate effect and until further order:
Notification No. 84 /2011 – Customs , Dated- 01st September, 2011 G.S.R. (E).- 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 the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 21/2002-Customs, dated the 1st March, 2002, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 118(E) dated the 1st March, 2002, namely :-
Notification No. 47/2011 – Income Tax Section 90 of The Income-Tax Act, 1961 – Double Taxation Agreement – Agreement for Avoidance of Double Taxation and Prevention of Fiscal Evasion with Singapore – Second Protocol amending said Agreement – NOTIFICATION NO. 47/2011 [F. NO. 500/139/2002-FTD-II], DATED 01-09-2011
At the outset. I would like to inform you categorically that for the present the scheme will not be applied to exporters. OSPCA will be implemented in a phased manner beginning only with importers who avail the Accredited Clients Programme (ACP). Other categories of importers would be covered in subsequent phases but even then, taking into account administrative costs of conducting OSPCA and the nature and size of the business It is not intended to cover all importers and the present Custom House Audit shall continue side-by-side with OSPCA I may add that OSPCA would require an effective Risk Management System (RMS) as an essential prerequisite, which is so far not even introduced on the export side.
Some Chief Commissioners are of the view that whereas the manufactures of pan masala /gutkha shall be required to give an undertaking to comply with the provisions of the Plastic Waste (Management and Handling) Rules, 2011 under no circumstance should export of the goods in question be stopped or disallowed. Other Chief Commissioners had a contrary view that allowing the export of pan masala / gutkha packed in plastic sachets would be a contravention of the said Rules of 2011. The Board has examined the matter in the background of the Plastic Waste (Management and Handling) Rules, 2011 as well as the conflicting views of Chief Commissioners.
RBI is of the view that the PD has attempted to manipulate the market, involved in market abuse, made an incorrect representation or certification, failed to provide information required under the extant guidelines, or provided information that was incorrect, inaccurate, or incomplete.
Attention is invited to Policy Circular No. 27 dated 01.04.2011 which stipulates conditions and modalities for registration of contracts of cotton yarn with DGFT. Para 4 of this Policy Circular deals with the consequences of failure to export the allowed quantity within stipulated time.
IRDA, after inviting comments and concerns of Insurers and after a careful consideration of all the submissions made, hereby darify that: Investment In Venture Funds would continue to be categorized under “Other Investments’ as per IRDA (Investment) (4th Amendment) Regulations, 2008 Insurers may Invest in any Venture Fund registered under SERI Regulations which include Venture Funds investing in Micro, Small and Medium Enterprises also No investment shall be made in a Venture Fund which is under the Promoter Group of the insurer
Notification No.83/ 2011-Customs, in exercise of the powers conferred by sub-section (1) of section 8B of the said Act, read with rules 12 and 14 of the Customs Tariff (Identification and Assessment of Safeguard Duty) Rules, 1997, the Central Government after considering the said findings of the Director General (Safeguards), hereby imposes on N1, 3-dimethyl butyl-N’phenylenediamine (PX-13 also known as 6 PPD), falling under tariff items 3812, 3810, 2921, 2925, 2934 and 2942 of the First Schedule to the said Act, when imported into India, a safeguard duty at the rate of – (a) Thirty percent ad valorem minus anti-dumping duty payable, if any, upto one year from the date of publication of this notification in the Official Gazette; and
Changes in the address, contact numbers and e-mail address of Export Promotion Council for EOUs & SEZ Units/its Regional Offices in serial number 11 and that of Best Mulyankan Consultants Ltd in serial number 23 have been incorporated.
