Please refer to the Reserve Bank’s Press Release 2009-10/1263 dated March 19, 2010, in terms of which the fixed repo rate under the Liquidity Adjustment Facility (LAF) has been increased by 25 basis points from 4.75 per cent to 5.0 per cent with immediate effect.
In exercise of the powers conferred by sub-rule (2) of rule 3 of the Central Excise Rules, 2002, the Central Board of Excise and Customs hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue) number 14/2002-Central Excise (N.T.), dated the 8th March, 2002, published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section(i), vide number G.S.R. 182(E), dated the 8th March, 2002, namely,-
NC Notification No. 1/2009-Income Tax In exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government, on the recommendations of the National Committee for Promotion of Social and Economic Welfare, hereby notifies the institutions approved by the said National Committee, mentioned in column (2) of the Table
Attention is invited to Government of India, Ministry of Finance (Department of Revenue), Notification No. 21/2002-Customs dated 01.03 2002 and Notification No. 33/2010-Customs dated 12.03.2010. As per these, import of four items viz., (1) Skimmed and whole milk powder, milk food for babies etc. (0402.10 or 0402.21) and White Butter, Butter oil, Anhydrous Milk Fat (0405) (2) Maize (corn): other (1005.90) (3) Crude sunflower seed or safflower oil or fractions thereof (1512.11) and (4) Refined rape, colza or mustard oil, other (1514.19 or 1514.99) is allowed in a financial year, up to quantities as well as such concessional rates of customs duty as indicated below:
Government of Maharashtra has raised the rate of tax under Schedule ‘C’ of Maharashtra Value Added Tax Act, 2002 from 4 per cent to 5% on goods other than declared goods with effect from 1st April 2010. A notification to this effect has been issued as referred above. While issuing the notification, an inadvertent error had crept in, leading to inference that some fabrics & sugar would become taxable from 1st April 2010.
Attention is invited to SFIS Scheme under the FTP 2004-09 & current FTP 2009-14. Trade and Industry has represented that some Customs Authorities are seeking ‘Installation Certificate’ from the ship owners, and since the import item is a Ship (a moveable capital asset/good), there appears to be some confusion in the minds of Customs Authority (Particularly at Mumbai Sea Ports & Kakinada Sea Port) in this regard, on account of which Customs has stopped allowing use of SFIS for payment of duties on import of ships by the service providers.
This master circular consolidates and updates the requirements/obligations with regard to oversight of members (Inspection by Stock Exchanges/Clearing Corporations, Internal Audit and Default) prescribed by the following circulars:
In the notification No. VAT.1510/ CR.47taxation-1, dated 10th March 2010 published in Maharashtra Government Gazette, Extraordinary, Part IV-B, Number 47, dated 10th March 2010.
In exercise of the powers conferred by section 42 of the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005) the Government of Maharashtra, hereby amends with effect from the 1st April 2010 the Government Notification, Finance Department No. VAT-1505/CR- 105/Taxation- l, dated the 1st June 2005, as follows, namely
In exercise of the powers conferred by sub-entry (6) of entry 101 of Schedule C appended to the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005), the Government of Maharashtra, hereby, amends with effect from the 1st April 2010, the Government Notification, Finance Department, No. VAT.1505/CR- 120/Taxation- 1, dated the 1st June 2005, as follows, namely
