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Notifications/Circulars

Custom Notification 66/2010 – Customs, dated 01-06-2010 – Amends Notification No.39/96-Customs, dated the 23rd July, 1996

June 4, 2010 542 Views 0 comment Print

a) the goods are imported by a manufacturer for use in the manufacture of Ballistic grade aramid fabric; (b) the procedure laid down in the Customs (Import of Goods at concessional Rate of Duty for Manufacture of Excisable Goods) Rules, 1996 is followed while importing the goods;and

Notification No. G.S.R. 472(E), Dated: 04.06.2010

June 4, 2010 679 Views 0 comment Print

In the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 7/2010-Central Excise (Non Tariff), dated the 27th February, 2010 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 123(E), dated the 27th February, 2010, at page 60 in line 18,

Securitisation Transactions by NBFCs – Draft Guidelines on Minimum Holding Period and Minimum Retention Requirement

June 3, 2010 520 Views 0 comment Print

The Reserve Bank of India today posted on its website the draft guidelines on minimum holding period and minimum retention requirement for securitisation transactions undertaken by NBFCs. The draft guidelines contain modification of the extant guidelines issued on February 01, 2006 and also introduce two new aspects, namely, defining a minimum holding period before selling an asset to an Special Purpose Vehicle and retention of a minimum portion of the loan prior to securitisation.

Shifting of the Office of Services Export Promotion Council (SEPC)

June 3, 2010 450 Views 0 comment Print

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 amendment at column 3 of S. No. 22 in the List of Export Promotion Councils/ Commodity Boards/ Export Development Authorities given under Appenidx-2 of Handbook of Procedures( Vol.1 ) 2009-2014

Custom-Clarification regarding determination of value under Section 14 of the Customs Act, 1962 in respect of sale of warehoused goods

June 3, 2010 9142 Views 0 comment Print

The prevalence of divergent practices in field formations with respect to the determination of assessable value of imported goods that are warehoused under Section 58/59 of the Customs Act, 1962 and sold before being cleared for home consumption has been brought to the notice of the Board.

Explanatory notes to the provisions of the Finance (No. 2) Act, 2009 – Circular No. 5/2010 [F.No. 142/13/2010-SO(TPL)], dated 3-6-2010

June 3, 2010 23897 Views 0 comment Print

Download the Circular No. 5/2010 issued by CBDT dated 03rd June 2010 having 63 Pages which explains the provisions of the Finance (No. 2) Act, 2009. The file is in PDF format and explains all the provision in simple and understandable language.

DGFT Public Notice 71/2009-14- Change of Office address of Regional Authority, Nagpur

June 3, 2010 1605 Views 0 comment Print

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 amendment/ addition in the List of Regional Authorities given under Appendix 1 of Handbook of Procedure (Vol. I) 2009-2014:

New changes in TDS Rules

June 2, 2010 44322 Views 0 comment Print

CBDT Press Release No. 402/92/2006-MC (27 of 2010) The Central Board of Direct Taxes (CBDT) have amended the Rules relating to TDS provisions date and mode of payment of tax deducted at source (TDS), TDS certificate and filing of ‘statement of TDS’ (TDS return) vide Notification No. 41/2010; SO No. 1261(E) dated 31.05.2010. The amended rules will apply only in respect of tax deducted on or after 1st day of April 2010.

Section 18A of the Central Sales Tax Act, 1956 – Appeals to highest appellate authority of state – Appointed day notified for purposes of section 18A(2)

June 2, 2010 1424 Views 0 comment Print

Notification No. G.S.R. 455(E), In exercise of the powers conferred by Explanation to sub-section (2) of Section 18A of the Central Sales Tax Act, 1956 (74 of 1956), the Central Government hereby appoints the 1st June, 2010 as the appointed day for the purposes of the said sub-section(2) of Section 18 of the said Act.

Notification No. 42/2010-Income Tax Dated 1/6/2010

June 1, 2010 1030 Views 0 comment Print

Notification No. 42/2010-Income Tax It is hereby notified for general information that the organization Kashba Youth, Egra, Purba Medinipur, West Bengal has been approved by the Central Government for the purpose of clause (iii) of sub-section (5) of section 35 of the Income-tax Act,

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