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RBI Notification on Bank Finance to Factoring Companies

September 11, 2012 841 Views 0 comment Print

Banks can henceforth extend financial assistance to support the factoring business of Factoring Companies which comply with the following criteria: (a) The companies qualify as factoring companies and carry out their business under the provisions of the Factoring Regulation Act, 2011 and Notifications issued by the Reserve Bank in this regard from time to time.

Clarification on withdrawal of duty exemption in respect of goods required for setting up of Mega/ Ultra mega power projects

September 10, 2012 2735 Views 0 comment Print

against Sl. No. 337, in the entries under column (3), for the words required for setting up of an ultra-mega power project, the words and figures required for setting up of an ultra-mega power project specified in List 10, shall be substituted

Regarding inclusion of Inland Container Depot Irungattukottai in list of ports permitted for exports / imports under Export Promotion

September 10, 2012 655 Views 0 comment Print

Notification No. 50 / 2012 – Customs Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following amendments in each of the notifications of the Government of India in the Ministry of Finance (Department of Revenue), specified in column (2) of the Table below, shall be amended or further amended, as the case may be, in the manner specified in the corresponding entry in column (3) of the said Table, namely :-

Clarification on Withdrawal of duty exemption of goods required for initial setting up or substantial of Mega/ Ultra mega power projects

September 10, 2012 1475 Views 0 comment Print

Seeks to amend Notification 12/2012-Customs, dated 17-03-2012, regarding the withdrawal of duty exemption in respect of goods required for initial setting up or substantial of Mega/ Ultra mega power projects

Change in Constitution of dispute resolution panel – Order No. 9 /FT&TR/2012

September 7, 2012 1329 Views 0 comment Print

Order No. 9/FT&TR/2012 Vide Order No. 9/FT&TR/2012 dated 07.09.2012, the CBDT has directed a change in the Constitution of the Dispute Resolution Panel in Delhi, Mumbai, Ahmedabad, Pune, Kolkota, Bangalore, Hyderabad and Chennai with effect from 24.08.2012

Rates of customs duty for goods imported under SAARC Free Trade Agreement (SAFTA)

September 6, 2012 18464 Views 0 comment Print

Notification No. 48/2012-Customs Seeks to amend Notification no. 125/2011-Customs, dated 30-12-2011 prescribing preferential rates of customs duty for goods imported under SAARC Free Trade Agreement (SAFTA) so as to reduce the number of tariff lines in the sensitive list for Non-Least Developed Countries (NLDCs)

Banks to provide Banking facilities to visually challenged / persons with disabilities without discrimination

September 5, 2012 1222 Views 0 comment Print

Please refer to our Circular DBOD. No. Leg BC. 91 /09.07.005/2007-08 dated June 4, 2008 on the captioned subject advising that all banking facilities such as cheque book facility including third party cheques, ATM facility, Net banking facility, locker facility, retail loans, credit cards etc., are invariably offered to visually challenged persons without any discrimination as they are legally competent to contract

International Workers (IWs) – refund /readjustment of excess amount in pension fund -Clarification

August 31, 2012 1105 Views 0 comment Print

Consequent upon inclusion of special provisions in respect of International Workers (IWs) and signing of Social Security Agreements (SSAs) with a number of countries by the Government of India, the benefit of “detachment” is being availed by the posted Indian employees by obtaining a Certificate of Coverage (COC) on the basis of which they are exempted from making contributions in other country up to a certain period.

Delegation of Powers to Regional Directors u/s 17,18,19,141 and 188 of Companies Act,1956

August 30, 2012 367 Views 0 comment Print

I am directed to refer to this Ministry’s letter of even no. dated 3 1.7.2012 on the subject cited above and say that wherever fee on pending cases under section 17, 18, 19, 141 and 188 of the Companies Act, 1956 have already been paid by the companies/stakeholders at the time of filing of petition, consequent upon the transfer of applications/petitions from Company Law Board to the concerned Regional Directors.

CBDT notifies Advance Pricing Agreement Scheme

August 30, 2012 1103 Views 0 comment Print

Notification No. 36/2012-Income Tax In the Income-tax Rules, 1962 (hereafter referred to as the principal rules), – (a) after rule 10E, the following rule shall be inserted, namely.- Advance Pricing Agreement Scheme- 10F. Meaning of expressions used in matters in respect of advance pricing agreement.—For the purposes of this rule and rules 10G to 10-I,-

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