In exercise of the powers conferred by clause (a) of sub-section (4) of section 41 of the Maharashtra Value Added Tax Act, 2002 (Mat. IX of 2005) and in supersession of the Government Notification, Finance Department, No.VAT.1506/CR-135-A/ Taxation-1, dated the 30th November 2006, the Government of Maharashtra hereby, with effect from 1st March 2012, exempts from payment of tax in excess of five per cent of the turnover of sales, of motor spirits and petroleum products made by any of the oil companies mentioned in column (2) of the Schedule appended herewith, subject to the conditions and restrictions specified in column (3) of the said schedule, to any other oil company mentioned in the said list, namely :—
Basic Customs Duty of 2% on import of cut & polished diamonds has been imposed by the Department of Revenue with effect from 16.1.2012 vide Notification No.01/2012. Such duty will not be applicable on re-import of cut & polished diamonds (each of 0.25 carat or more) sent for certification/ grading abroad to the above laboratories. (Earlier also similar provision existed in FTP which was deleted after the Basic Customs Duty on cut and polished diamonds was brought down to zero.)
Notification No. 12/2012-Income Tax In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, the Competition Commission of India, a Commission established under sub-section (1) of section 7 of the Competition Act, 2002 (Act 12 of 2003), in respect of the specified income arising to the said
Notification No. 11/2012-Income Tax In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, the National Skill Development Corporation, a body constituted by the Central Government, in respect of the specified income arising to the said Corporation , as follows:-
Notification No.S.O. 367(E), dated 27-2-2012 In exercise of the powers conferred by sub-clause (iv) of clause (m) of sub-section (1) of section 2 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002), the Central Government hereby specifies the The National Small Industries Corporation Limited (NSIC), having its registered office at NSIC Bhavan, Okhla Industrial Estate, New Delhi-110020 as financial institution for the limited purpose of disposing of their non-performing financial assets through any securitisation company or reconstruction company.
NOTIFICATION F.No.3-1/Amend/Comb. Regl./2012/CD/CCI, dated 23-2-2012 These regulations may be called the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Amendment Regulations, 2012. (2) They shall come into force on the date of their publication in the Official Gazette.
Made export of wheat free but only through Custom EDI ports. Now export of wheat is also being permitted from non-EDI Land Custom Stations on Bangladesh and Nepal border. The only requirement will be registration of quantity with DGFT.
Made export of non-basmati rice free by the private parties from privately held stocks only through Custom EDI ports. Two changes are being notified now in this notification: (i) State Trading Enterprises (STEs) including M/s. NCCF & NAFED have also been permitted to export privately held stocks of non-basmati rice. (ii) Export of non-basmati rice is also being permitted from non-EDI Land Custom Stations on Bangladesh and Nepal border. The only requirement for export through LCS will be registration of quantity with DGFT.
NOTIFICATION No. LAD-NRO/GN/2011-12/38/4290, dated 21-2-2012 . These regulations may be called the Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2012. 2. They shall come into force on the date of their publication in the Official Gazette.
Notification No. u/s 252-Income Tax Vide Notification dated 21.02.2012 issued u/s 252 of the Income Tax Act, 1961, the Central Government has appointed the following persons as Judicial Member / Accountant Member of the Income Tax Appellate Tribunal with effect from the dates as mentioned against their names and until further orders. Consequent to their joining as Members, the said persons have been posted to the paces mentioned against their names vide Order dated 21.02.2012
