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DGFT dispenses registration requirement for export of certain types of cotton yarn

December 8, 2014 835 Views 0 comment Print

In exercise of the powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) read with Para 1.3 of the Foreign Trade Policy, 2009-14, as amended, the Central Government hereby makes, with immediate effect, the following amendments in respect of Sl. No. 197 & 199 of Chapter 52 of Schedule 2 of ITC (HS) Classification of Export & Import Items.

Amendment in export policy of cotton

December 8, 2014 304 Views 0 comment Print

In exercise of the powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) read with Para 1.3 of the Foreign Trade Policy, 2009-14, as amended, the Central Government hereby makes, with immediate effect, the following amendments in respect of Sl. No. 197 & 199 of Chapter 52 of Schedule 2 of ITC (HS) Classification of Export & Import Items.

Sukanya Samriddhi Account Rules, 2014 – Notification

December 7, 2014 45827 Views 22 comments Print

Opening of Account.- (1) The account may be opened by the natural or legal guardian in the name of a girl child from the birth of the girl child till she attains the age of ten years and any girl child, who had attained the age of ten years, one year prior to the commencement of these rules. shall also be eligible for opening of the account under Sukanya Samriddhi Account Rules,2014.

Rule 5A(2) of Service Tax Rules Re-introduced Via Notification No. 23/2014-ST after being held ultra-vires By High Court of Delhi

December 5, 2014 9734 Views 0 comment Print

It is pertinent to note that very recently , the Honourable High Court of Delhi in the case of Travelite (India) vs. UOI & Ors, while quashing Rule 5A(2) of the Service Tax Rules and the CBEC Instructions prescribing the manner of an audit and the records that can be called for by the authorities, held that

DGFT notifies Appellate Authority against orders passed by Adjudicating Authorities

December 5, 2014 5259 Views 0 comment Print

In exercise of the powers conferred by clause (b) of sub-section (1) of Section 15 of the Foreign Trade (Development and Regulation) Act, 1992 (22 of 1992) and in supersession of the earlier Notifications referred below, the Central Government hereby authorizes the officers specified in column 3 of the Table below to function as Appellate Authority against the orders passed by the Adjudicating Authorities authorized by the Central Government under Section 13 of the said Act.

CAs/ CMAs can conduct Service tax audits

December 5, 2014 13763 Views 0 comment Print

Vide Notification No. 23/2014- ST dated- 05.12.2014, CBEC has amended rule 5A(2) and the pronouncement of Allahabad High Court has been followed principally & CAs/CMAs have been made empowered to conduct service tax audits.

Notification No. 100 (RE-201 3)/2009-2014, Dated: 05.12.2014

December 5, 2014 1426 Views 0 comment Print

Existing policy conditions (prior to this amendment) as available at page 545 of ITC(HS) Classification of Export and Import Items (as updated on 18.04.2012), for the Exim Codes 6802 10 00, 6802 21 10, 6802 21 20, 6802 21 90, 6802 91 00 and 6802 92 00 of Chapter 68 are extracted below (earlier policy conditions).

Mobile Banking Transactions in India – Operative Guidelines for Banks

December 4, 2014 694 Views 0 comment Print

As banks have started offering mobile banking services at different points of time, there are differences in procedures adopted by banks for registering customers for mobile banking as well as in the channels of delivery and authentication process. Generally, banks are offering mobile banking services through the SMS, Application-based solutions and USSD channels.

RBI relaxes condition for issue of Pre-paid Payment Instruments / GIft Cards

December 3, 2014 2018 Views 0 comment Print

The maximum validity of the gift cards has been enhanced from one year to three years. Other provisions of PPI guidelines with respect to Gift Cards will continue to be applicable.

Govt. again increases excise duty on Diesel & Petrol

December 2, 2014 1013 Views 0 comment Print

(a) against item (i) of column (3), for the entry in column (4), the entry “₹ 4.95 per litre” shall be substituted;

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