Notification No. 50/2011-Customs Whereas, in the matter of import of the Sewing Machine Needles (hereinafter referred to as subject goods), falling under sub-heading 8452.30 of chapter 84 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the said Customs Tariff Act) and originating in or exported from the People’s Republic of China (China PR) (hereinafter referred to as the subject country) into India, the designated authority in its final findings vide notification number 14/10/2010-DGAD, dated the 6th May, 2011, published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 6th May, 2011, had come to the conclusion that-
Notification No. 49 /2011-Customs Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.107/2008-Customs, dated the 6th October, 2008, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 718 (E), dated the 6th October, 2008, namely:-In the said notification, in the Table, in column (4), for the entry ‘75%’, wherever it occurs, the entry ‘100%’ shall be substituted.
In exercise of the powers conferred by sub-section (1) of section 41 of the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005), the Government of Maharashtra hereby amends the Government Notification, Finance Department, No.VAT-1509/CR-89/Taxation-1, dated the 5th November 2009, as follows, namely : —
Notification No. 34/2011- Income Tax – In exercise of the powers conferred by clause (6C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies that any income arising to M/s. Rolls Royce Defense Services Inc., with principal place of business at 2001, South Tibbs Avenue, Indianapolis, Indiana 46206, USA for maintenance of aero engines (IAE 3007 AIE Engines) fitted in Embraer Aircraft, by way of royalty or fees for technical services received in pursuance of the agreement vide Contract No. Air HQ/8836/RR/Eng B between M/s. Rolls Royce Defence Services Inc. and Ministry of Defence signed on the 12th December, 2005 to an extent of Rs. 35.43 crores shall not be included in computing the total income of said company under the said Act.
Government of India has, vide their letter F.No.7/4/2008-NS.II dated June 1, 2011(copy enclosed), decided that interest at PPF rates would be paid on those PPF (HUF) accounts, which had attained the maturity after May 13, 2005 but closed by the subscribers before December 07, 2010, subject to the conditions that the accounts had not been extended thereafter and the deposits were retained in such accounts without further subscriptions.
As announced in the Mid-Quarter Monetary Policy Review: June 2011, it has been decided to increase the repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points from 7.25 per cent to 7.50 per cent with immediate effect.
REF.No.MPD.BC.344 /07.01.279/2010-11 Please refer to the Mid-Quarter Monetary Policy Review of June 16, 2011, in terms of which the repo rate under the Liquidity Adjustment Facility (LAF) has been increased by 25 basis points from 7.25 per cent to 7.50 per cent with immediate effect.
Notification No.40/2011-Service Tax- DATED 14-06-2011 – Section 65(105)(zzzp) of the Finance Act, 1994 – Transport of goods by rail service – Abatement provisions – Amendment in Notification No. 9/2010-ST, dated 27-2-2010 – Exemption extended till 1-1-2012. Notification No 09/2010-Service Tax, dated the 27th February 2010 provides abatement to transport of goods by rail. This notification was effective from 01.04.2010 and similar amendments were made and in the previous round, it was made effective from 1 st July 2011. Now it is effective from 01.01.2012.
Notification No.39/2011-Service Tax Section 65(105)(zzzp) of the Finance Act, 1994 – Transport of goods by rail service – Exemption to transportation of specified commodities – Amendment in Notification No.8/2010-ST, dated 27-2-2010 – Exemption extended till 1-1-2012 – NOTIFICATION NO. 39/2011-ST., DATED 14-06-2011
Notification No. 38/2011-Service Tax – Notification No 07/2010-Service Tax, dated the 27th February 2010 Rescinds Notification No. 33/2009-S.T dated 01.09.2009 [which actually exempts transport of goods by rail and if this exemption is withdrawn, the service becomes taxable]. This notification was to be effective from 01.04.2010 and then extended to 01.07.2010, further extended to 01.01.2011, then to 01.04.2011 and then to 01.07.2011 and now further extended to 01.01.2012.
