Monthly Archives: October 2015

Depreciation on Increased cost of Asset due to Withdrawal of exemption of Custom duty certificate has to be computed from Year of Withdrawal : HC

By | October 26, 2015
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Withdrawal of exemption

Facts of the Case :- Assessee imported hospital equipments during years 1988-89 and 1992-93, without payment of custom duty on basis of a Customs Duty Exemption Certificate (CDEC). Imported equipment was capitalized by assessee on actual value of equipment paid by it. Subsequently, CDEC granted to assessee was withdrawn on . Later, by an order dated… Read More »

Risk management for Regional Commodity Derivatives Exchanges

By | October 26, 2015
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Risk management

Securities and Exchange Board of India CIRCULAR CIR/CDMRD/DRMP/2/2015 October 21, 2015 To, The Managing Directors / Chief Executive Officers Regional Commodity Derivatives Exchanges Sir / Madam, Sub.: Risk management for Regional Commodity Derivatives Exchanges 1. Pursuant to Section 131 of the Finance Act, 2015 and Central Government notification F.No. 1/9/SM/2015 dated August 28, 2015, all… Read More »

FAQS FOR MEMBERS OF COMMODITY DERIVATIVES EXCHANGES

By | October 26, 2015
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FAQS ON COMMODITY DERIVATIVES EXCHANGES Q1. What are the registration requirements for existing members of commodity derivatives exchanges? Ans: Existing members of commodity derivatives exchanges are required to satisfy the registration related requirements of the exchange of which it holds membership, at the time of making an application for registration to SEBI. They can apply… Read More »

SEBI created Divisions for Regulation of Commodity Derivatives Market

By | October 26, 2015
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Regulation of Commodity Derivatives

PR No. 249/2015 Regulation of Commodity Derivatives Market The provisions of Part I (excluding Section 132) and Part II of Chapter VIII of the Finance Act, 2015 came into force w.e.f. September 28, 2015 and the provisions of Section 132 of the Act came into force w.e.f. September 29, 2015 in terms of Central government… Read More »

11 Companies Bank Account to be attached by SEBI for violation of norms

By | October 26, 2015
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violation of norms

Markets watchdog Sebi has ordered attachment of banks and demat accounts of 11 entities to recover dues worth nearly Rs 22 lakh imposed on them for violation of norms. The firms against which Sebi has passed orders are Hind Developers, Munak Galva Sheets, Navin Chemicals Manufacturing and Trading Company, Cepham Pharmaceuticals, Cepham Organics, Intercraft, Sanjay… Read More »

Mining Lease holders to make contribution to District Mineral Foundation

By | October 25, 2015
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District Mineral Foundation

MINISTRY OF COAL NOTIFICATION New Delhi, the 20th October, 2015 G.S.R. 792(E).—In exercise of the powers conferred by sub-sections (5) and (6) of Section 9B of the Mines and Minerals (Development and Regulation) Act, 1957 (67 of 1957), the Central Government hereby makes the following rules in r/o of coal and lignite and sand for… Read More »

section 2(15) Council for Leather Exports promoting export of leather and leather products is a charitable institution

By | October 25, 2015
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Council for Leather Exports

Facts of the case :- Main objects of assessee were to support, protect, maintain, increase and promote export leather articles and products and bye-products of leather industry .Its activities were multiple and directed towards assisting its members in extending their global reach thereby increasing their exports Issue :- Assessing Officer held that activities of assessee… Read More »

Towers,Rotor of Wind Operated Electricity Generators are covered under exemption

By | October 25, 2015
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Wind Operated Electricity Generator

CLARIFICATION AS TO WHETHER EXEMPTION NOTIFICATION NO.12/2012-C.E., DATED 17-3-2012 COVERS PART/COMPONENTS OF WIND OPERATED ELECTRICITY GENERATORS (WOEG) CIRCULAR NO.1008/15/2015-CX, DATED 20-10-2015 A large number of references have been received from the trade as well as the field formations to clarify whether exemption Notification No. 12/2012-Central Excise, dated 17.03.2012 covers part/components of Wind Operated Electricity Generators… Read More »