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DVAT – Regarding submission of information in Form T-2 if vehicle number is not available

April 1, 2013 2329 Views 0 comment Print

If the vehicle number is not available in advance, Form T-2 would need to be filed without vehicle number and the vehicle number would need to be updated within 24 hours of receipt of the goods by the Delhi dealer. However, in cases where the complete information in Form T-2 is not filed online before the goods enter Delhi, the Delhi dealer shall not dispose of/sell/dispatch such goods till the vehicle number in Form T-2 is updated online.

India-Gibraltar TIEA is effective from March 11, 2013

April 1, 2013 514 Views 0 comment Print

Notification No. 28/2013 – Income Tax [F.NO.503/11/2009-FTD-I], DATED 1-4-2013 Whereas, an Agreement between the Government of the Republic of India and the Government of Gibraltar for the Exchange of Information with respect to taxes was signed at London on the 1st day of February, 2013(hereinafter referred to as the Agreement): And whereas, the date of entry into force of the Agreement is the 11th day of March, 2013, being the date of later of the notifications of completion of the procedures as required by the respective laws for entry into force of the Agreement, in accordance with the provisions of article 12 of the Agreement;

KYC Norms – Simplifying Norms for Self Help Groups

April 1, 2013 1761 Views 0 comment Print

Please refer to our circular RPCD.CO.RRB.RCB.AML.No.6097/7.51.018/2012-13 dated December 13, 2012 on simplification of Know Your Customer (KYC) norms / Anti-Money Laundering (AML) Standards/Combating of Financing of Terrorism (CFT)/Obligation of banks under PMLA, 2002. In order to address the difficulties faced by Self Help Groups (SHGs) in complying with KYC norms while opening savings bank accounts and credit linking of their accounts, it has been decided to simplify certain norms for SHGs.

Core Investment Companies – Guidelines on Investment in Insurance

April 1, 2013 882 Views 0 comment Print

At present NBFCs venturing into insurance are guided by the circular DNBS(PD).CC.No.13/02.01/99-2000 dated June 30, 2000 on amendment to NBFC Regulations which contains the ‘Guidelines for entry of NBFCs into Insurance’. In view of the unique business model of Core Investment Companies (CICs), it has been decided to issue a separate set of guidelines for their entry into insurance business.

FEMA – Govt. notifies 135 countries for imposition of quantitative restriction on import of goods

March 31, 2013 534 Views 0 comment Print

Section 9A Of The Foreign Trade (Development & Regulation) Act, 1992 – Quantitative Restrictions – Power Of Central Government To Impose – Notified Developing Countries For Purposes Of Section 9A NOTIFICATION NO. GSR 59(E) [F.NO.01/92/180/106/AM-11/PC-VI/PRA], DATED 31-1-2013 In pursuance of sub-section (4)(a) of section 9A of the Foreign Trade (Development and Regulation) Act, 1992 (22 […]

Delhi Vat Notifications Dated 30-Mar-13

March 30, 2013 1210 Views 0 comment Print

1 No.F.3(18)/Fin.(Rev-1)/2012-13/dsVI/265 30-Mar-13 Notification from Finance (Revenue-1) department. 1 No.F.3(15)/Fin.(Rev-1)/2012-13/dsVI/264 30-Mar-13 Notification from Finance (Revenue-1) department. 3 No.F.3(17)/Fin.(Rev-1)/2012-13/dsVI/263 30-Mar-13 Notification from Finance (Revenue-1) department.

CST Notification for Exemption of tax on inter-State Sales of furnishing cloth

March 30, 2013 2516 Views 0 comment Print

CST Notification for Exemption of tax under section 8(5) of CST Act, 1956 on inter-State Sales of furnishing cloth – Government of Maharashtra hereby in the public interest, exempts with effect from the 1st April 2013, the tax payable on sale of furnishing cloth notified under entry 101 of Schedule ‘C’

CBDT notifies exemption for grant-in-aid received by ‘Assam State Control Society’ from specified persons

March 30, 2013 610 Views 0 comment Print

Notification No. 27/2013 – Income Tax The notification shall be effective subject to the following conditions, namely:- (a) the ‘Assam State AIDS Control Society’ does not engage in any commercial activity; (b) the activities and the nature of the specified income of the ‘Assam State AIDS Control Society’ remain unchanged throughout the financial year; and

MVAT Notification to give effect to proposals as per Budget 2013-14

March 30, 2013 1331 Views 0 comment Print

We are attaching herewith VAT Notification to give effect to the proposals as per the Budget Speech 2013-14 given by Finance Minister of Maharashtra State :- FINANCE DEPARTMENT Madam Cama Marg, Hutatma Rajguru Chowk, Mantralaya, Mumbai 400 032, Dated the 30th March 2013. NOTIFICATION MAHARASHTRA VALUE ADDED TAX ACT, 2002. No. VAT 1513/CR 46(1)/Taxation-1.— In […]

CIT, Bhopal authorized to issue orders in writing to Additional or Joint CIT in respect of specified persons

March 28, 2013 385 Views 0 comment Print

Notification No. 26/2013 – Income Tax In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby :- (a) directs that the Commissioner of Income-tax specified in column (2) of the Schedule below, having his headquarter at the place specified in the corresponding entry in column (3) of the said Schedule, shall exercise the powers conferred upon him under the said Act and perform the functions in respect of such cases or classes of cases of persons or classes of persons specified in the corresponding entries in column#(4) of the said Schedule and in respect of all incomes or classes of income thereof;

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