In exercise of the powers conferred by section 7A of the Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975 (Mah. XVI of 1975), the Commissioner of Profession Tax, Maharashtra State hereby provides with effect from 1st August 2011.
(1) These rules may be called the Companies (Central Government’s) General Rules and Forms (Amendment) Rules, 2011. (2) They shall come into force with effect from 24th July, 2011.
LETTER [F. NO. 137/132/2010 – SERVICE TAX], DATED 11-5-2011 – Representations have been received seeking clarification regarding leviability of service tax on the Flying Training Institutes providing training for obtaining Commercial Pilot Licence (CPL) and on Aircraft Engineering Institutes for obtaining Basic Aircraft Maintenance Engineer Licence (BAMEL). CPL and BAMEL are granted by Directorate General of Civil Aviation after conducting required examinations. These institutes have sought to cover-their activity under the exemption clause provided in the definition of “commercial training or coaching centre”, as laid down in section 65(27) of the Finance Act, 1994, as it stood prior to the amendment in Budget of 2011. As per this definition, commercial training or coaching centre ‘does not include pre-school coaching and training centre or any institute or establishment which issues any certificate or diploma or degree or any educational qualification recognised by law for the time being in force. Their contention is that the certificates issued by them are recognised by DGCA and also the course conducted by them are as per the provisions of The Indian Aircraft Act, 1934, the Indian Aircraft Rules, 1937 and are in accordance with Civil Aviation Requirements.
Notification No. 59/2011-Customs 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 which was published in the Gazette of India, Extraordinary, vide G.S.R. 118 (E) of the same date, namely:
(i) Description of the export product under these two SIONs have been modified. (ii) There is no other change. The number of inputs, their description & quantity permitted remains the same. The only change is in the name of export product in respect of both SIONs
In Exercise of the powers conferred under clause (a) of sub-section (2) of section 8 of the Maharashtra Tax on Professions, Trades, Callings And Employments Act, 1975 (Mah. XVI of 1975) (hereinafter referred to as “the said Act”), the Commissioner of Profession Tax, Maharashtra State, Mumbai, hereby specifies the due date of tax payable for the year 2011-12 under the said Act, by enrolled persons mentioned in column (2) of the Schedule appended hereto, to be paid as specified against them in column (3) of the said Schedule as follows, namely;—
Accordingly, we advise you to furnish data on priority sector advances in the revised format to Rural Planning and Credit Department, Central Office, Statistics Division, 10th Floor, New Central Office Building, Shahid Bhagat Singh Marg, Mumbai 400 001, on a quarterly basis as on last reporting Fridays of March, June, September and December of a particular year within fifteen days from the reference date.
On a review, it has been decided that Clearing Houses / Processing Centres will now calculate and settle the charges payable as prescribed in the circular. Under the revised arrangement, the charges payable by the originating banks to destination banks (including the service tax applicable thereon), will be calculated and settled by the Clearing Houses using the multilateral netting method. However, the service tax will be calculated on gross obligations of the banks.Necessary MIS reports will be provided to the banks to enable them to remit the service tax to the Government.
The Authority intends to modify the Circular No.031/IRDA/TPA/05, dated 16th December, 2005. Accordingly, the Authority has prepared the Exposure Draft. In this regard, comments/suggestions of all stakeholders on the Exposure Draft are invited. The comments/suggestions on the said draft may be forwarded at meena@irda.gov.in within 10 days.
Please refer to Circular 40/NL/IRDA/08-09, dated 3rd March, 2009 wherein, the Authority has mandated all non-life Insurance Companies to submit quarterly and yearly business information. In view of the changing industry scenario and to make the information analysis more meaningful, the Authority has decided to replace the existing formats with the new ones as provided below:
