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Foreign Exchange Management (Remittance of Assets) Regulations, 2016

April 1, 2016 2989 Views 0 comment Print

A Non-Resident Indian (NRI) or a Person of Indian Origin (PIO) may remit through an authorised dealer an amount, not exceeding USD 1,000,000 (US Dollar One million only) per financial year,

Restrictions on set-off under MVAT Rule 2005

April 1, 2016 13399 Views 0 comment Print

(i) goods covered under the entries 13 and 14 of the Schedule D appended to the Act, or (ii) mobile phone or cellular handset i.e. telephones for cellular network or for other wireless network,

Entry Tax on Marble & Granite in Maharashtra wef 01.04.2016

April 1, 2016 5068 Views 0 comment Print

In the Maharashtra Tax on Entry of Goods into Local Areas Act, 2002, in the Schedule, the existing entry 15 shall be renumbered as sub-entry (1) thereof, and after the sub-entry (1) as so renumbered, the following sub-entry shall be added, namely :—Slabs of Marble and Granite -12.5%

Delhi VAT: Appointment of Assistant Value Added Tax Officer

April 1, 2016 943 Views 0 comment Print

t. Governor of the National Capital Territory of Delhi is pleased to appoint the following officers, with effect from the date of assumption of charge to assist the Commissioner of Value Added Tax, Government of National Capital Territory of Delhi, in the administration of the said Act, namely:-

Delhi VAT: Appointment of 11 Assistant Commissioner cum VATO

April 1, 2016 1105 Views 0 comment Print

No. F.3(11)/Fin(T&E)/2009-10/DS-VI/112 Lt. Governor of the National Capital Territory of Delhi is pleased to appoint the following officers, with effect from the date of assumption of charge to assist the Commissioner of Value Added Tax, Government of National Capital Territory of Delhi, in the administration of the said Act, namely:-

Long Term Gold Monetization Scheme deposits redemption as gold

March 31, 2016 526 Views 0 comment Print

In the case of MLTGD, the redemption of principal at maturity shall, at the option of the depositor, be either in Indian Rupee equivalent of the value of deposited gold at the time of redemption, or in gold. Where the redemption of the deposit is in gold, an administrative charge at a rate of 0.2% of the notional redemption amount in terms of INR shall be collected from the depositor.

Customs Duty on goods imported from Japan reduced

March 31, 2016 2131 Views 0 comment Print

The principal notification No. 69/2011-Customs, dated the 29th July, 2011, was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 593(E), dated the 29th July, 2011 and was last amended vide

Foreign Exchange Management (Establishment in India of a branch office or a liaison office or a project office or any other place of business) Regulations, 2016

March 31, 2016 3637 Views 0 comment Print

Prohibition against opening a branch office or a liaison office or a project office or any other place of business in India-No person resident outside India shall without prior approval of the Reserve Bank open in India a branch office or a liaison office or a project office or any other place of business by whatever name called except as laid down in these Regulations.

Customs Duty on goods imported under Transfer of Residence

March 31, 2016 3640 Views 0 comment Print

(a) any person holding a valid passport issued under the Passports Act, 1967 (15 of 1967) and returning to India after having stayed abroad for at least 365 days during the two years immediately preceding the date of arrival in India, or (b) any person on a bona fide transfer of residence to India as part of his bona fide baggage,-

Effective Rate of Custom Duty on Baggage

March 31, 2016 11845 Views 0 comment Print

Where the value of any one article exceeds the duty free allowance admissible to such passenger or member under the Baggage Rules, 2016, the amount of duty shall be calculated only on the value in excess of the duty free allowance so admissible to the extent not availed of by such passenger or member for clearing any other article of baggage, if any.

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