Simplification of Registration Procedures in Central Excise and Service Tax
Posted Date : 28-Feb-2015 , 06:41:31 pm | Posted By: CASANSAAR
Registration process in Central Excise has been prescribed vide Notification no 35/2001 - C.E(N.T) dt 26-6-2001 as amended from time to time. The prescribed procedure has been amended by notification no. 07/2015-CE (N.T.) dated 01.03.2015 to simplify the procedure and improve the ease in doing business in manufacturing. The salient features of the revised registration procedure are as follows -...
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Excise |
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Recovery of arrears in installments and amendment of Garnishee Notice
Posted Date : 28-Feb-2015 , 06:40:28 pm | Posted By: CASANSAAR
Your attention is invited to provisions of sub-section (2) of section 11 of the Central Excise Act, 1944. Central Excise Officers are empowered under this provision to issue an order to any other person from whom money is due to such person from whom recovery of arrears is required to be made. Such notice for recovery to the other person is generally referred as Garnishee Notice. Similar provisions are contained in section 142(1)(d) of the Customs Act, 1962 and section 87(b) of the Finance Act, ...
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Excise |
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DVAT - Special drive for disposal of objections relating to mismatch of Annexure 2A/2B cases for the Assessment Year 2012-13
Posted Date : 27-Feb-2015 , 09:26:49 pm | Posted By: CASANSAAR
GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI
DEPARTMENT OF TRADE AND TAXES
(POLICY BRANCH)
VYAPAR BHAWAN, I.P.ESTATE, NEW DELHI-110 002
No.F.7(480)/Policy/VAT/2014/807-816
Dated: 27/02/2015
CIRCULAR NO. 27 of 2014-15
Sub:- Special drive for disposal of objections relating to mismatch of Annexure 2A/2B cases for the Assessment Year 2012-13.
In continuation of this department’sCircular Nos.18,20,22and24 of 2014-15, it has now been decided to dispose of objections filedu/s 74...
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VAT |
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Regarding Central Excise and Service Tax Audit norms to be followed by the Audit Commissionerates
Posted Date : 27-Feb-2015 , 06:04:52 pm | Posted By: Vijay
Circular No. 995/2/2015-CX
dated the 27thFeb., 2015
F. No. 206/03/2014-CX.6
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise and Customs
To
The Principal Chief Commissioners/Chief Commissioners of Central Excise and Service Tax (All),
The Director General of Service Tax,
The Director General of Central Excise Intelligence,
The Commissioners of Service Tax (Audit) (All)
The Commissioners of Central Excise (Audit) (All)
Madam/Sir,
Subj...
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Excise |
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Unclaimed Deposits / Inoperative Accounts in Banks Display list of Inoperative Accounts
Posted Date : 27-Feb-2015 , 05:44:07 pm | Posted By: Vijay
RBI/2014-15/481DCBR.BPD.(PCB/RCB).Cir.No.18/13.01.000/2014-15
February 27, 2015
The Chief Executive Officers ofAll Primary (Urban) Co-operative Banks/State and Central Co-operative Banks
Madam/ Dear Sir,
Unclaimed Deposits / Inoperative Accounts in BanksDisplay list of Inoperative Accounts
Please refer to ourCircular UBD.BPD.(PCB).Cir.No.9/13.01.000/2008-09 dated September 1, 2008andRPCD.CO.RF.BC.No.89/07.38.01/2008-09 dated February 18, 2009, wherein detailed instructions have been given t...
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RBI |
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The Companies (Declaration and Payment of Dividend) Amendment Rules, 2015
Posted Date : 25-Feb-2015 , 09:53:10 pm | Posted By: CASANSAAR
G.S.R ..............(E) .- [n exercise of the powers conferred under sub-section (l) of section 123 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Declaration and Payment of Dividend) Rules, 2014, namelyi...
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Corporate Laws |
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Priority Sector Lending- Targets and Classification –Overdraft in PMJDY accounts
Posted Date : 25-Feb-2015 , 09:43:57 pm | Posted By: CASANSAAR
RBI/2014-15/477FIDD.CO.Plan.BC 50 /04.09.01/2014-15
February 25, 2015
The Chairman/ Managing Director/Chief Executive Officer[All scheduled commercial banks(excluding Regional Rural Banks)]
Dear Sir,
Priority Sector Lending- Targets and Classification –Overdraft in PMJDY accounts
Please refer to ourMaster Circular RPCD.CO.Plan.BC 10/04.09.01/2014-15 dated July 01, 2014on Priority Sector Lending- Targets and Classification.
2. It has been decided that overdrafts extended by banks upto...
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RBI |
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Bank’s prior approval for change in shareholding
Posted Date : 24-Feb-2015 , 06:12:23 pm | Posted By: Vijay
Bank’s prior approval for change in shareholding
In terms of Section 3(6) of the SARFAESI Act, 2002, every Securitisation Company /
Reconstruction Company (SC / RC) is required to obtain prior approval of the
Reserve Bank for any substantial change in its management. For the purpose of this
section, the expression “substantial change in management” means the change in
the management by way of transfer of shares or amalgamation or transfer of the
business of the company. H...
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RBI |
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TARC releases its final report on tax administration reforms in India
Posted Date : 21-Feb-2015 , 08:52:59 am | Posted By: CASANSAAR
TARC releases its final report on tax administration reforms in India.
e-Book Fourth Report of TARC(Dated 20th February, 2015)
e-Book Feedback Report of TARC(Dated 20th February, 2015)
Fourth Report of TARC(7 MB)(Dated 20th February, 2015)
Feedback Report of TARC(3 MB)(Dated 20th February, 2015)
...
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Income Tax |
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MCA mandates IndAS from FY16-17 for companies having net worth above Rs 500 crore; notifies Ind AS rules
Posted Date : 21-Feb-2015 , 08:33:43 am | Posted By: CASANSAAR
In exercise of the powers conferred by section 133 read with section 469 of the Companies Act, 2013 (18 of 2013) and sub-section (1) of section 210A of the Companies Act, 1956 (1 of 1956), the Central Government, in consultation with the National Advisory Committee on Accounting Standards, hereby makes the following rules, namely:
Notifications
Description
G.S.R dated 16 Feb 2015
The Companies (Indian Accounting Standards) Rules, 2015.
Indian Accounting Standard ...
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Corporate Laws |
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Raising Money through Private Placement of Non-Convertible Debentures (NCDs) by NBFCs
Posted Date : 21-Feb-2015 , 08:30:17 am | Posted By: CASANSAAR
RBI/2014-15/475DNBR (PD) CC No.021/03.10.001/2014-15
February 20, 2015
All NBFCs (excluding PDs)
Dear Sirs,
Raising Money through Private Placement of Non-Convertible Debentures (NCDs) by NBFCs
Please refer to the circularsDNBS(PD)CC.No.330/03.10.001/2012-13 dated June 27, 2013and theDNBS (PD)CC.No.349/03.10.001/2013-14 dated July 02, 2013on the subject.
2. In supersession of circularsDNBS(PD)CC.No.330/03.10.001/2012-13 dated June 27, 2013and theDNBS (PD)CC.No.349/03.10.001/2013-14 dated J...
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RBI |
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Govt. notifies agricultural extension projects of 'Godrej Agrovet Ltd' for purpose of Sec. 35CCC deduction
Posted Date : 19-Feb-2015 , 05:12:57 pm | Posted By: Vijay
SECTION 35CCC OF THE INCOME-TAX ACT, 1961 - EXPENDITURE ON AGRICULTURAL EXTENSION PROJECT - NOTIFIED ELIGIBLE AGRICULTURAL EXTENSION PROJECT - GODREJ AGROVET LIMITED - OIL PALM EXTENSION PROJECT
NOTIFICATION NO. 14/2015 [F.NO.203/31/2014/ITA.II],DATED 16-2-2015
FORM NO. 3CP
1.
Name, address and PAN 07 the applicant
Godrej Agrovet Limited, Pirojshanagar, Eastern Express Highway, Vikroli (East), Mumbai-400079 (AAACG0617Q)
2.
Title of the agricultural extension project
Oil Palm Ex...
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Income Tax |
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Govt. notifies new list of agricultural commodities which aren't "taxable commodities transactions"
Posted Date : 19-Feb-2015 , 07:56:28 am | Posted By: CASANSAAR
COMMODITIES TRANSACTION TAX (FIRST AMENDMENT) RULES, 2015 - AMENDMENT IN RULE 3
NOTIFICATION NO.13/2015 [F.NO. 142/09/2013-TPL]/SO 424(E),DATED 10-2-2015
In exercise of the powers conferred by sub-sections (1) and (2) of section 133 of the Finance Act, 2013 (17 of 2013) (herein after referred to as the Act), the Central Government hereby makes the following rules to amend the Commodities Transaction Tax Rules, 2013, namely:—
1.(l) These rules may be called the Commodities Transaction Ta...
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Income Tax |
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Guidelines on Import of Gold by Nominated Banks / Agencies
Posted Date : 18-Feb-2015 , 09:02:25 pm | Posted By: CASANSAAR
RBI/2014-15/474A.P. (DIR Series) Circular No.79
February 18, 2015
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Guidelines on Import of Gold by Nominated Banks / Agencies
Attention of Authorised Dealer Category – I (AD Category – I) banks isinvited to the provisions contained inA.P.(DIR Series) Circular No.42 dated November 28, 2014in terms of which the 20:80 scheme for import of gold was withdrawn in consultation with the Government .
2. The Reserve Bank of India a...
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FEMA |
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Credit facilities to Minority Communities - Inclusion of Jain Community under Section 2(c) of the National Commission of Minorities (NCM) Act, 1992
Posted Date : 18-Feb-2015 , 06:26:33 pm | Posted By: Vijay
RBI/2014-15/473DCBR.BPD (PCB) Cir.No.5/14.01.062/2014-15
February 18, 2015
The Chief Executive OfficerAll Primary (Urban) Co-operative Banks
Dear Sir / Madam
Credit facilities to Minority Communities - Inclusion of Jain Community under Section 2(c) of the National Commission of Minorities (NCM) Act, 1992
Please refer to Para IV (h) of theAnnexto our Circular UBD.CO.BPD.(PCB).MC. No.18/09.09.001/2013-14 dated October 8, 2013 on ';Revised guidelines on lending to Priority Sector for UCBs';.
...
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RBI |
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Cancellation of validity of Multiple IECs against single PAN - DGFT
Posted Date : 17-Feb-2015 , 06:38:09 pm | Posted By: CASANSAAR
To be published in the Gazette of India Extraordinary
(Part-I, Section-I)
Government of India
Ministry of Commerce & Industry
Department of Commerce
Directorate General of Foreign Trade
Udyog Bhawan, New Delhi- 110 011
Public Notice No. 87 (RE-2013)/2009-2014
New Delhi, dated the 17th February, 2015
Subject: Cancellation of validity of Multiple IECs against single PAN - reg.
Thepara 2.9(b)of theHandbook of Procedure (HBP-Vol.I) (2009-2014) provides for only one IEC against a si...
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DGFT |
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Govt. notifies projects of various entities for purpose of relief under section 35AC
Posted Date : 17-Feb-2015 , 06:32:53 pm | Posted By: CASANSAAR
S.O. 51(E).—In exercise of the powers conferred by Sub-section (I) read with clause (b) of the Explanation toSection 35 AC of the Income Tax Act, 1961 (43 of 1961), the Central Government, on the recommendation of theNational Committee for Promotion of Social and Economic Welfare, hereby notifies the institutions approved by the saidNational Committee, mentioned in column (2) of the Table below, and approves the eligible projects or schemes specifiedto be carried on by the said institution...
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Income Tax |
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Companies (Removal of Difficulties) Order, 2015 has been released by MCA
Posted Date : 17-Feb-2015 , 08:06:23 am | Posted By: CASANSAAR
Companies (Removal of Difficulties) Order, 2015 has been released by MCA dated February 13, 2015 - The impact is as Small Company - 'A small company is now defined as a company (other than public company) whose paid up capital is upto Rs 50 lakhs AND turnover upto Rs 2 crores. Earlier it was OR....
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Corporate Laws |
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Date of Filing of Reconciliation Return (CST form 9) for the Year 13-14 extended to 31/03/2015
Posted Date : 17-Feb-2015 , 08:04:21 am | Posted By: CASANSAAR
In partial modification to this department’s Circular No.21 of 2014-15 on thesubject cited above, and in exercise of the powers conferred under Rule 49A of theDelhi Value Added Tax Rules, 2005 read with section 9(2) of Central Sales Tax Act,1956, I, Sanjeev Khirwar, Commissioner, Value Added Tax, do hereby extend the lastdate of filing of online return in Form 9 for the year 2013-14, prescribed under Rule 4of Central Sales Tax (Delhi) Rules, 2005 to 31/03/2015
The return is to be filed ...
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VAT |
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Fees for Online IEC Applications: Corrigendum to Public Notice. 79 / (RE-2013)/2009-2014 dated the 31st December, 2014
Posted Date : 16-Feb-2015 , 08:02:28 am | Posted By: CASANSAAR
To be published in the Gazette of India Extraordinary
(Part-I, Section-1)
Government of India
Ministry of Commerce & Industry
Department of Commerce
Directorate General of Foreign Trade
Udyog Bhawan, New Delhi -110 011
Public Notice No.85 (RE-2013)/2009-2014
New Delhi, dated the 13th February, 2015
Subject: Fees for Online IEC Applications: Corrigendum to Public Notice. 79 / (RE-2013)/2009-2014 dated the 31st December, 2014.
In exercise of powers conferred underparagraph 2.4o...
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DGFT |
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Extension of time for filing of Notice of appointment of the Cost Auditor ln Form CM-2.
Posted Date : 14-Feb-2015 , 08:43:07 am | Posted By: CASANSAAR
In continuation to the General Circular No. 42/2014, the last date of filing of Form CM-2 withoutany penalty/late fee is hereby extended upto 31st March.2015....
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Corporate Laws |
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Risk Management and Inter Bank Dealings: Foreign Currency (FCY) – INR Swaps
Posted Date : 13-Feb-2015 , 06:53:02 pm | Posted By: Yogita Bajaj
RBI/2014-15/469A.P. (DIR Series) Circular No. 78
February 13, 2015
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Risk Management and Inter Bank Dealings: Foreign Currency (FCY) – INR Swaps
Attention of Authorised Dealers Category‐I (AD Category‐I) banks is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 dated May 3, 2000 (Notification No. FEMA/25/RB‐2000 dated May 3, 2000) as amended from time to time andA.P. (DIR ...
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RBI |
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Clarification regarding 'Amounts not deductible' under sub-clause (i) of clause (a) of section 40 on Inocme-tax Act, 1961 ('Act') - CBDT
Posted Date : 13-Feb-2015 , 08:12:21 am | Posted By: CASANSAAR
Clarification regarding 'Amounts not deductible' under sub-clause (i) of clause (a) of section 40 on Inocme-tax Act, 1961 ('Act') - regarding - Circular 3/2015, Dated 12-02-2015...
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Income Tax |
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Foreign Direct Investment – Reporting under FDI Scheme on the e-Biz platform
Posted Date : 13-Feb-2015 , 07:59:02 am | Posted By: CASANSAAR
RBI//2014-15/468A.P (DIR Series) Circular No.77
February 12, 2015
To
All Category – I Authorised Dealer Banks
Madam/Sir
Foreign Direct Investment –Reporting under FDI Scheme on the e-Biz platform
Attention of Authorised Dealers Category-I (AD Category - I) banks is invited to the provisions of the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations 2000, notified by the Reserve Bank videNotification No. FEMA 20/2000-RB, dat...
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FEMA |
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Foreign Exchange Management Act, 1999 – Import of Goods into India
Posted Date : 13-Feb-2015 , 07:58:11 am | Posted By: CASANSAAR
RBI/2014-15/467A. P. (DIR Series) Circular No.76
February 12, 2015
To
All Category-I Authorised Dealer Banks
Madam / Sir,
Foreign Exchange Management Act, 1999 – Import of Goods into India
Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to theA.P.(DIR Series) Circular No. 82 dated February 21, 2012in terms of which applications by persons, firms and companies for making payments, exceeding USD 5,000 or its equivalent towards imports into Ind...
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FEMA |
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Attention is invited to Board Circular No 33/2010
Posted Date : 12-Feb-2015 , 05:55:23 pm | Posted By: Ravich
Circular No.07/2015-Customs
F. No. 450/77/2010-CusIV
Government of India
Ministry of Finance
Department of Revenue
(Central Board of Excise and Customs)
***
New Delhi, dated 12.02.2015
To,
All Chief Commissioners of Customs / Customs (Preventive)
All Chief Commissioners of Customs and Central Excise
All Commissioners of Customs / Customs (Preventive)
All Commissioners of Customs and Central Excise
Sir/ Madam,
Attention is invited to Board Circular No 33/2010- Customs dated 07.09....
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Category :
Custom |
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Regarding amendments to certain All Industry Rates of Duty Drawback
Posted Date : 12-Feb-2015 , 05:48:17 pm | Posted By: Ravich
Sir/ Madam,
The Government considered representations and feedback related to the All Industry Rates
(AIR) of Duty Drawback that were made effective from 22.11.2014 and has notified certainamendments effective from 13.02.2015 vide Notification Nos. 20/2015-Customs (N.T.) and 21/2015-
Customs (N.T.), both dated 10.02.2015. These can be downloaded from www.cbec.gov.in andperused. The changes made, inter-alia, include -...
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Category :
Custom |
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Instructions regarding adjudication of Central Excise and Service Tax Cases booked by DGCEI
Posted Date : 11-Feb-2015 , 06:38:31 pm | Posted By: CASANSAAR
New Delhi, dated the 10th Feb., 2015
To
The Director General of Central Excise Intelligence,
Principal Chief / Chief Commissioners of Central Excise (All),
Principal Chief / Chief Commissioners of Central Excise & Service Tax (All).
Sub: Instructions regarding adjudication of Central Excise and Service Tax Cases booked by DGCEI.
Sir / Madam,
Attention is invited toNotification no 38/2001 - C.E (N.T) dt 26-6-2001as amended from time to time whereby the officers of various ...
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Category :
Excise |
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New format for e-IEC- introduction of Appendix 18B -1 (Format of e-IEC) in Handbook of Procedure Vol. I (Appendices and Aayat Niryat Forms), 2009-2014
Posted Date : 11-Feb-2015 , 06:36:38 pm | Posted By: CASANSAAR
To be published in the Gazette of India Extraordinary
(Part-I, Section-1)
Government of India
Ministry of Commerce & Industry
Department of Commerce
Directorate General of Foreign Trade
Udyog Bhawan, New Delhi -110 011
Public Notice No. 84 (RE-2013)/2009-2014
New Delhi, dated the 10th February, 2015
Subject: New format for e-IEC- introduction of Appendix 18B -1 (Format of e-IEC) in Handbook of Procedure Vol. I (Appendices and Aayat Niryat Forms), 2009-2014.
In exercise of power...
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DGFT |
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No Sec. 234A interest on self-assessment tax paid before due date of filing of return; CBDT clarifies
Posted Date : 11-Feb-2015 , 01:04:12 pm | Posted By: Ravich
SECTION 234A OF THE INCOME-TAX ACT, 1961 - INTEREST FOR DEFAULTS IN FURNISHING RETURN OF INCOME - CHARGEABILITY OF INTEREST UNDER SECTION 264A ON SELF-ASSESSMENT TAX PAID BEFORE DUE DATE OF FILING OF RETURN OF INCOME
DRAFT CIRCULAR NO. 2/2015 [F.NO.385/03/2015-IT(B),DATED 10-2-2015
Interest under section 234A of the Income-tax Act, 1961 (hereinafter the Act) is charged in case of default in furnishing return of income by an assessee. The interest is charged at the specified rate on the amount ...
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Income Tax |
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