CircularNo. 967/01/2013 – CX,New Delhi, the Dated 1stJanuary, 2013 Subject-Recovery of confirmed demand during pendency of stayapplication- regarding I am directed to bring your attention to the followingcircularsissued from time to time on the above issue andto statethat it has been decided to rescind thesecircularswith immediate effect. Sl No Date Circularno and File number of CX-6 1 18-11-88 80/88 and 208/31/88 2 2-3-90 7/90 and ...

Continue Reading...

Category : Excise | Comments : 0 | Hits : 982

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No. 60 / 2012- CUSTOMS New Delhi, the6th December, 2012. G.S.R.880 (E). – In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, 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 (Depa...

Continue Reading...

Category : Custom | Comments : 0 | Hits : 899

Government of India Ministry of Finance (Department of Revenue) Notification No.49 /2012 - Service Tax New Delhi, the 24th December, 2012 G.S.R....(E)- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of R...

Continue Reading...

Category : Service Tax | Comments : 0 | Hits : 828

GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF EXCISE AND CUSTOMS Notification No.111/2012-Customs (N.T.) DATED THE 20th December, 2012 29 Agrahayana, 1934(SAKA) S.O. (E). – In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.108/2012-CUSTOMS (N.T.), dated the 6th December, 2012 vide nu...

Continue Reading...

Category : Custom | Comments : 0 | Hits : 951

RBI/2012-13/350 A.P. (DIR Series) Circular No. 65 December 27, 2012 To All Category - I Authorised Dealer Banks Madam / Sir, Exim Bank's Line of Credit of USD 250 million to the Government of the Republic of Mozambique Export-Import Bank of India (Exim Bank) has concluded an Agreement dated September 20, 2012 with the Government of the Republic of Mozambique, making available to the latter, a Line of Credit (LOC) of USD 250 million (USD two hundred fifty million) for financing ...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 853

RBI/2012-13/349 A.P. (DIR Series) Circular No. 64 December 27, 2012 To All Category - I Authorised Dealer Banks Madam / Sir, Exim Bank's Line of Credit of USD 19 million to the Government of the Co-Operative Republic of Guyana Export-Import Bank of India (Exim Bank) has concluded an Agreement dated October 30, 2012 with the Government of the Co-Operative Republic of Guyana, making available to the latter, a Line of Credit (LOC) of USD 19 million (USD nineteen million) for finan...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 824

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 5/ 2012-Customs (SG) New Delhi; the 20th December, 2012 G.S.R.912(E).- WHEREAS, in the matter of import of electrical insulators, falling under tariff heading 8546of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the said Act), the Director General (Safeguard), in its final findings published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-sect...

Continue Reading...

Category : Custom | Comments : 0 | Hits : 925

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i), DATED THE 21ST DECEMBER, 2012] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No.57/2012-Customs (ADD) New Delhi, the 21st December, 2012 G.S.R._(E). -WHEREAS in the matter of import of Choline Chloride (hereinafter referred to as the subject goods), falling under Chapter 23 or Chapter 29 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), (h...

Continue Reading...

Category : Custom | Comments : 0 | Hits : 918

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i), DATED THE 24 TH DECEMBER, 2012] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No.58/2012-Customs (ADD) New Delhi, the 24th December, 2012 G.S.R. _(E). –WHEREAS in the matter of Phthalic Anhydride (hereinafter referred to as the subject goods), falling under Chapter 29 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), originating in, o...

Continue Reading...

Category : Custom | Comments : 0 | Hits : 921

No Objection Certificate (NOC) from the concerned regulator/Institute for LLP Name approval/incorporation General Circular no. 40/2012, dated 17-12-2012 In continuation of this Ministry's Circular No. 2/2012, dated 1st March, 2012 on registration of companies or LLPs where one of their objects is to carry on the profession of Chartered Accountant, Company Secretary, Cost Accountant, Architect, etc. relating to the requirement of obtaining NOC from the concerned regulator, it is hereb...

Continue Reading...

Category : Corporate Laws | Comments : 0 | Hits : 936

NOTIFICATION NO 52/2012, Dated: November 29, 2012 Income Tax (Fifteenth Amendment) Rules, 2012 – Amendment in Rules 11U and 11UA SO 2805(E)- In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:- 1. (1) These rules may be called the Income-tax (15th Amendment) Rules, 2012. (2) They shall come into force on the date o...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 1898

RBI/2012-13/329 DNBS (PD).CC.No.315/03.10.42/2012-13 December 13, 2012 All Non Banking Financial Companies / Residuary Non Banking Companies Dear Sir / Madam, Frauds-Classification and Reporting Please refer to our Circular No 283 dated July 2, 2012 i.e. the Master Circular-Frauds – Future approach towards monitoring of frauds in NBFCs. 2. As per para 3.4 of the above mentioned circular, cases of attempted fraud, involving likely loss of Rs 25 lakh or more should be reporte...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1035

General Circular No. 43/2012, dated 26-12-2012 In continuation of MCA's General Circular Nos. 8/2012, dated May 10, 2012 [as amended on June 29, 2012] and 18/2012, dated July 26, 2012, it has been decided that all cost auditors and the companies concerned are allowed to file their Cost Audit Reports and Compliance Reports for the year 2011-12 [including the overdue reports relating to any previous year(s)] with the Central Government in the XBRL mode, without any penalty, within 180 day...

Continue Reading...

Category : Corporate Laws | Comments : 0 | Hits : 1105

Filing of Form 68 for rectification of mistakes in Form 1,Form 1A and Form 44,Filing of Balance Sheet and Profit and Loss Account in eXtensible Business . click to see circular...

Continue Reading...

Category : Corporate Laws | Comments : 0 | Hits : 987

Companies (Central Government's) General Rules and Forms (Seventh Amendment) Rules, 2012 - Substitution of Form 18 NOTIFICATION [F.NO. 5/80/2012-CL.V], DATED 24-12-2012 In exercise of the powers conferred by sub-section (1) of section 642, read with section 610B of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following rules further to amend the Companies (Central Government's) General Rules and Forms, 1956, namely: - 1. (1) These rules may be called the ...

Continue Reading...

Category : Corporate Laws | Comments : 0 | Hits : 1014

Companies Directors Identification Number (Third Amendment) Rules, 2012 - amendment in form no. DIN-1 NOTIFICATION [F.NO. 5/80/2012-CLV], DATED 24-12-2012 In exercise of the powers conferred by clause (a) and (b) of sub-section (1) of section 642 read with section 266A, 266B, 266D and 266E of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following rules further to amend the Companies (Directors Identification Number) Rules, 2006 namely: - Short title and com...

Continue Reading...

Category : Corporate Laws | Comments : 0 | Hits : 1008

RBI/2012-13/342 UBD.BPD (PCB) Cir. No. 28/14.01.062/2012-13 December 19, 2012 The Chief Executive Officer of All Primary (Urban) Co-operative Banks Madam/Dear Sir, Know Your Customer (KYC) norms /Anti-Money Laundering (AML) Standards/Combating of Financing of Terrorism (CFT)/Obligation of banks under Prevention of Money Laundering Act (PMLA), 2002 Please refer to our Master Circular UBD.BPD. (PCB) MC.No.16/12.05.001/2012-13 dated July 2, 2012 on Know Your Customer (KYC) norms / An...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 956

GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI DEPRTMENT OF TRADE AND TAXES VYAPAR BHAWAN, I.P. ESTATE, NEW DELHI-110002 No.F.3(33)/P-II/ VAT/ Misc./2006/ Dated: ORDER In exercise of the powers conferred under Rule 49A of the Delhi Value Added Tax Rules,2005, sub-section (2) of section 9 of the Central Sales Tax Act, 1956 and sub-rule (7) of Rule 12 of theCentral Sales Tax (Registration and Turnover) Rules; 1957, I, Prashant Goyal, Commissioner, ValueAdded Tax, Government of Nationa...

Continue Reading...

Category : VAT | Comments : 0 | Hits : 1318

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] Government of India Ministry of Finance (Department of Revenue) Notification No.62 / 2012 - Customs New Delhi, the 21st December, 2012 G.S.R.921 (E).− In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act,1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following furth...

Continue Reading...

Category : Custom | Comments : 0 | Hits : 922

The Companies Directors Identification Number(Third Amendment) Rules 2012-DIN4.CLICK TO SEE CIRCULAR...

Continue Reading...

Category : Corporate Laws | Comments : 0 | Hits : 1421

RBI/2012-13/344 DPSS.CO.AD.No.984/02.27.005/2012-13 December 20, 2012 The President / Managing Director / CEO All Payment System Operators Authorised under the PSS Act, 2007 Madam / Dear Sir, Broadband on Demand - Migration from IPv4 to IPv6 As you may be aware the Government has envisaged providing “Broadband on Demand” by 2015 in the recently unveiled National Telecom Policy (NTP) – 2012 emphasizing the role of Internet as catalyst for socio-economic development...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 850

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] Government of India Ministry of Finance (Department of Revenue) Notification No.49 /2012 - Service Tax New Delhi, the 24th December, 2012 G.S.R....(E)- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further ame...

Continue Reading...

Category : Service Tax | Comments : 0 | Hits : 1460

The Co-operative Banks (Nomination) Rules, 1985 - Clarifications RBI/2012-13/348 RPCD.CO. RCB.BC.No. 6335/07.51.010/2012-13 December 24, 2012 The Chairmen / CEOs of all State and Central Co-operative Banks Dear Sir/Madam, The Co-operative Banks (Nomination) Rules, 1985 - Clarifications As you are aware, the Co-operative Banks (Nomination) Rules, 1985 have been framed in exercise of powers conferred under Section 52, read with Sections 45-ZA, 45-ZC, 45-ZE and 56 of the Banking Re...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 945

Special Deposit Scheme 1975 – Payment of interest for the calendar year 2012 RBI/2012-13/347 DGBA.CDD. No. H- 3415 /15.01.001 / 2012-13 December 24, 2012 The Chairman & Managing Director Head Office Government Accounts Department State Bank of India / State Bank of Patiala State Bank of Bikaner & Jaipur /State Bank of Travancore State Bank of Hyderabad / State Bank of Mysore Allahabad Bank / Bank of Baroda / Bank of India / Bank of Maharashtra/ Canara Bank / Central Ba...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 813

RBI/2012-13/346 A.P. (DIR Series) Circular No. 63 December 20, 2012 To All Category-I Authorised Dealer Banks Madam/Sir, External Commercial Borrowings (ECB) for Micro Finance Institutions (MFIs) and Non-Government Organizations (NGOs) - engaged in micro finance activities under Automatic Route Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000, notified vide Notific...

Continue Reading...

Category : FEMA | Comments : 0 | Hits : 870

Section 2(39) of the Companies act, 1956 - recognized stock exchange - notified recognized stock exchange - amendment in notification no. gsr 1060(e), dated 21-12-1989 Notification [F. No. 3/2/2012 - CL-V], dated 21-12-2012 In pursuance of clause (39) of section 2 of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following further amendment in the notification of the Government of India in the erstwhile Ministry of Industry (Department of Company Affairs) num...

Continue Reading...

Category : Corporate Laws | Comments : 0 | Hits : 981

Government Reviews Foreign investment Policy for Assets Reconstruction Sector; Ceiling for FDI in ARCs increased from 49% to 74% The Central Government had permitted Foreign Direct Investment (FDI) in the equity capital of Asset Reconstruction Company (ARCs) upto 49% vide Press Release dated 08.11.2005. Further, on 09.11.2005, the Government permitted the Foreign Institutional Investors (FIIs) registered with the Securities and Exchange Board of India (SEBI) to invest in Security Receip...

Continue Reading...

Category : SEBI | Comments : 0 | Hits : 853

EPFO has kept in abeyance, its circular that seeks to tighten norms for initiation of inquiry against employers in PF cases and clubbing of allowances with basic wages for computing PF contribution Amid pressure from trade unions, Employees' Provident Fund Organisation (EPFO) has kept in abeyance, its circular that seeks to tighten norms for initiation of inquiry against employers in provident fund (PF) cases and clubbing of allowances with basic wages for computing PF contribution, report...

Continue Reading...

Category : Corporate Laws | Comments : 0 | Hits : 1189

General Circular No. 42/2012 DATED 21.12.2012.Filing of Form 68 for rectification of mistakes in Form 1,Form 1A and Form 44 CLICK HERE FOR CIRCULAR...

Continue Reading...

Category : Corporate Laws | Comments : 0 | Hits : 1121

RBI/2012-13/345DNBS.PD/ CC.NO.316/03.10.001/2012-13 December 20, 2012 All NBFCs Dear Sir/Madam, Standardisation and Enhancement of Security Features in Cheque Forms - Migrating to CTS 2010 Standards A reference is invited to ourCircular No DNBS.PD/ CC.NO.308 /03.10.001/2012-13 November 6, 2012advising all NBFCs to ensure replacement of all Non-CTS-2010 standard compliant cheques received from their customers for future EMI payments by December 31, 2012. 2. Representations have been receive...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1014