Daily Archives: November 10, 2015

Interest Subvention Scheme Union Budget 2015-16

By | November 10, 2015

RBI/2015-16/152 FIDD.No.FSD.BC.59/05.04.02/2015-16 August 13, 2015 The Chairman / Managing Director All Public & Private Sector Scheduled Commercial Banks Dear Sir/Madam Union Budget – 2015-16 Interest Subvention Scheme Please refer to our letter FIDD CO.FSD.No.10740/05.04.02/2014-15 dated June 17, 2015 conveying extension of Interest Subvention Scheme upto July 31, 2015. In this regard, it is advised that… Read More »

Procedure for payment of commission by banks to authorised agents on sale of Kisan Vikas Patra

By | November 10, 2015

RBI/2015-16/172 DGBA.GAD.No.990 /15.02.003/2015-16 September 10, 2015 The Chairman/Chief Executive Officer Agency Banks Handling the Scheme of Kisan Vikas Patra, 2014 Dear Sir Procedure for payment of commission by banks to authorised agents on sale of Kisan Vikas Patra Department of Economic Affairs, Ministry of Finance, Government of India has advised, vide Office Memorandum F.No.2/4/2014-NS-II dated… Read More »

Rule 10B does not prescribe minimum number of companies for comparability

By | November 10, 2015

Rule 10B doesn’t prescribe minimum number of companies for comparability analysis and if an extraordinary event resulted in earning of high operating margin of company, it had to be excluded from the list of comparables in Transfer Pricing.   [ITAT Hyderabad] ADP (P.) Ltd. v. DCIT ITA No. 471 of 2011 Date of decision: August… Read More »

Notification No. 107/215-CUSTOMS (N. T.)

By | November 10, 2015

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION-3, SUB-SECTION (ii)] Government of India Ministry of Finance (Department of Revenue) (Central Board of Excise and Customs) Notification  No. 107/215-CUSTOMS (N. T.) New Delhi, Date- 9th November, 2015 S.O. … (E).– In exercise of the powers conferred by sub-section (2) of section 14 of… Read More »

Revised Policy for import of Aircraft and Helicopters

By | November 10, 2015

To be Published in the Gazette of India Extraordinary Part-II, Section – 3, Sub-Section (ii)) Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Notification No. 24/2015-2020 New Delhi, Dated: 9 October, 2015 Subject: Amendment in policy condition 1 of Chapter 88 of ITC (HS), 2012 – Schedule… Read More »

Import of Human Embryo Prohibited in India except for research

By | November 10, 2015

To be Published in the Gazette of India Extraordinary Part-II,Section – 3, Sub-Section (ii)) Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Notification No.25/2015-2020 New Delhi, Dated: 26th October, 2015 Subject: Amendment in import policy of Human Embryo classified under Exim Code 0511 99 99 of Chapter… Read More »

Consumption Register of Items Imported to be in Appendix4H :DGFT

By | November 10, 2015

TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART-I, SECTION-I GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF COMMERCE DIRECTORATE GENERAL OF FOREIGN TRADE PUBLIC NOTICE NO. 46/2015-2020, Dated : November 9, 2015 Subject: -Amendment in Para 9.06 of Handbook of Procedure (2015-20). In exercise of powers conferred under paragraph 2.04 of… Read More »

Indirect Tax Revenue collections during October 2015 increased by 36.8%

By | November 10, 2015

Ministry of Finance of Govt of Idnian on 09-November, 2015 Indirect Tax Revenue (Provisional) collections during October 2015 increased by 36.8% as compared with collections made in October 2014; Cumulatively, during April-October 2015, Indirect Tax Collections increased by 35.9% over the collections made during the same period last year suggesting a healthy growth in the… Read More »