The Insurance Regulatory and Development Authority (IRDA) told insurance companies to abstain form doing business with 884 corporate agents who had not registered their PAN (permanent account number) with the agency licensing web portal.
The regulator, IRDA has no plans to cap charges on traditional products and also assures on approving new ULIPS on time. The Insurance Regulatory and Development Authority (IRDA) has said it has no plans to cap the charges levied by life insurance companies on traditional products. The regulator also assured it would approve new unit-linked insurance plans (Ulips) on time so that insurers could sell them from September 1 onwards.
Notification No. 69/2010-Income Tax In exercise of the powers conferred by clause (b) of rule 6 of Part A of the Fourth Schedule to the Income-tax Act, 1961 (43 of 1961), and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 484(E), dated the 30th May, 2001, the Central Government hereby fixes, with effect from the 1st day of September, 2010, 8.5 per cent., as the rate referred to in the said clause.
The matter has been examined. As regards the classification, with effect from 01.06.2007 when the new service ‘Works Contract’ service was made effective, classification of aforesaid services would undergo a change in case of long term contracts even though part of the service was classified under the respective taxable service prior to 01.06.2007. This is because ‘works contract’ describes the nature of the activity more specifically and, therefore, as per the provisions of section 65A of the Finance Act, 1994, it would be the appropriate classification for the part of the service provided after that date.
It has been suggested to the Board that in order to reduce transaction cost involved in factory stuffing inspection by Central Excise officers scheduling factory stuffing permission should be provided on line by the department. This suggestion has been accepted y the department.
In case of EPCG Authorisation for Projects as per para 5.1B of Policy, the basic customs duty would be 7.5%. Wherever, CVD is paid in cash and not subsequently Cenvated, CVD would not be taken for computation of net duty saved.
The performance of EOUs would be reviewed by the Unit Approval Committee on six monthly basis i.e. April-September each year to be completed in the following quarter on the basis of QPRs/APR to be furnished by the EOUs. The formats of QPR/APR have been prescribed in the LUT at Appendix 14-I-F.
Sl No. 4C related to Chartered Engineer’s certificate on import requirement for 4.7 cases, under the “Guidelines for the Applicants” in ANF 4A (Application form for Advance Authorisation) stands deleted and consequently Sl No. 4(d) shall become 4(c).
In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy, 2009-2014, the Director General of Foreign Trade hereby makes the following amendments in the Handbook of Procedures Vol.1 (Appendices and Aayat Niryat Forms) 2009-2014:-
In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy, 2009-14, the Director General of Foreign Trade hereby notifies the Handbook of Procedures (Volume 1) incorporating Annual Supplement as updated on 23rd August, 2010 as contained in Annexure to this Public Notice. This shall come into force from 23rd August, 2010.
