Overall liabilities of the Central Government are on a medium-term declining trajectory with the Government’s debt portfolio characterized by prudent risk profile Since 2010-11, the Central Government has been bringing-out an Annual Status Paper on Public Debt that provides a detailed analysis of the overall debt position of the Government of India. This is the… Read More »
HELD The investment in mutual funds was temporarily placed by the appellant company in order to ensure liquidity and availability of money as and when required and accordingly inextricably linked with the setting up of the power plant Interest Received from Income tax department on TDS Refund has been earned from the funds borrowed for… Read More »
Held simultaneous penalties can be imposed on the firm and the partners under the Act and more particularly under Section 112(a) of the Act. However as the Act itself stipulates, the same would be subject to the parties proving that the contravention has taken place without their knowledge or despite exercise of all due diligence to prevent such contravention. HIGH COURT OF BOMBAY Amritlakshmi Machine Works v. Commissioner of Customs (import),Mumbai M. S. SANKLECHA, M.S. SONAK AND G.S. KULKARNI, JJJ. CUSTOMS APPEAL NOS. 100 TO 103 OF 2012 JANUARY 29, 2016 Naresh Thacker, C. Nanda and Chirag Shetty for the Appellant. A.S. Rao and… Read More »
Source IRDA Date:03-02-2016 Insurance Regulatory and Development Authority of India (Loans or Temporary advances to the Full-time Employees of the Insurers) Regulations, 2016 Insurance Laws (Amendment) Act 2015 has carried out amendments to the section 29. The amended Section 29 (3)(a) empowers the Authority to frame regulations on the loans or temporary advances to the… Read More »
Source RBI Date : Feb 03, 2016 The Inflation Expectations Survey of Households for December – 2015 (42nd round) captures the inflation expectations of 4,828 urban households across 16 cities, for the next three month period and the next one year period. These expectations are based on their individual consumption baskets and hence these rates… Read More »
Source RBI Date : Feb 03, 2016 Consumer Confidence Survey: December 2015 The Consumer Confidence Survey provides an assessment of respondents’ perceptions on general economic conditions and own financial situation during the current period and a year ahead. The survey captures qualitative information on a three point scale i.e., improve, remain same or worsen, from… Read More »
Refund of Excise duty on purchase of cars by physically handicapped persons Circular No 1015/3/2016-CX Dated 03-02-2016 F.No.268/8/2015-CX.8 Click to View circular
Extending the Indian Customs Single Window to other locations and other Participating Government Agencies Circular No. 03/2016-Cus F.No.450/147/2015-Cus-IV Government of India Ministry of Finance Department of Revenue (Central Board of Excise and Customs) ****** New Delhi, dated the 3 rd February, 2016 To, All Chief Commissioners of Customs / Customs (Preventive), All Chief Commissioners of… Read More »
Seeks to further amend notification No. 12/2012- Customs dated 17.03.2012. [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. 7/2016-Customs New Delhi, the 2 nd February, 2016 G.S. R. (E).—In exercise of the powers conferred by sub-section (1)… Read More »
Seeks to amend notification No. 39/2012- ST, dated the 20th June, 2012 so as to provide for rebate of Swachh Bharat Cess paid on all services, used in providing services exported in terms of rule 6A of the Service Tax Rules. [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION(i)] … Read More »