Fake Income Tax Raid at Saharanpur Posted: 02 May 2012 07:55 AM PDT Recently there have been large number of news in daily newspapers on the above subject. Brief facts are that a gang of 6 persons led by so called Sh. V.D.Goyal, Investigation Officer of Income Tax Department raided the house of Dr. Mohan Pandey, Saharanpur(U.P.) on 18/04/2012. They claimed that... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Exim Bank's Line of Credit to the Government of Republic of Burundi Posted: 02 May 2012 07:10 AM PDT A. P. (DIR Series) Circular No.114 Export-Import Bank of India (Exim Bank) has concluded an Agreement dated May 24, 2011 with the Government of the Republic of Burundi, making available to the latter, a Line of Credit (LOC) of USD 80 million (USD Eighty million) for financing eligible goods,... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Intra-bank Deposit Accounts Portability Posted: 02 May 2012 07:09 AM PDT It has been brought to our notice that some banks are insisting on opening of fresh accounts by customers when customers approach them for transferring their account from one branch of the bank to another branch of the same bank. Such insistence on opening of fresh account or making the customer... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Priority Sector Lending-Indirect Finance to Housing Sector – Increase in Limit to 10 lakh Posted: 02 May 2012 07:08 AM PDT 2. Pursuant to the announcement made by Union Finance Minister in the Union Budget for the year 2012-13, it has been decided to increase the limit from Rs.5 lakh to Rs.10 lakh for the bank loans extended to non-governmental agencies, approved by NHB for their refinance, for on-lending for the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| SEBI – Auction calendar for allocation of FII debt limit Posted: 02 May 2012 07:06 AM PDT SEBI has been allocating FII debt limits through open bidding platform since February 2009 as and when free limits are available. The utilisation status of FII debt limits and the free limits available as on 15th of every month and at the end of every month are being disseminated on SEBI website. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Monetary Policy Statement 2012-13 – Exposure to Housing, Real Estate and Commercial Real Estate – Primary (Urban) Co-operative Banks Posted: 02 May 2012 06:59 AM PDT Please refer to our Circular UBD.BPD.(PCB). Cir. No.47/13.05.000/2010-11 dated May 11, 2011, on the above subject, advising UCBs that their exposure to housing, real estate and commercial real estate loans should be limited to 10 percent of their total assets which could be exceeded by an... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Guidelines on Implementation of Basel III Capital Regulations in India Posted: 02 May 2012 06:56 AM PDT Please refer to the paragraph 90 (extract enclosed) of the Monetary Policy Statement 2012-13 announced on April 17, 2012. It was indicated that the final guidelines on the implementation of Basel III capital regulations would be issued by end - April 2012. It may be recalled that draft proposals on... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Seeks to amend Notification 21/2012 – Customs, dated 17-03-2012 Posted: 02 May 2012 06:41 AM PDT Notification No. 29/2012 - Customs 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 amendments in the notification... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Seeks to amend Notification 69/2011 – Customs, dated 29-07-2011 thereby exempting specific goods when imported into India from Japan Posted: 02 May 2012 06:39 AM PDT Notification No. 28 / 2012 - Customs 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 further amendments in the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Anti-dumping duty on imports of Partially Oriented Yarn originating in, or exported from, China PR Posted: 02 May 2012 06:35 AM PDT Notification No.22/2012-Customs (ADD) in the matter of continuation of anti-dumping duty on imports of Partially Oriented Yarn (POY) (hereinafter referred to as the subject goods), falling under Heading 5402 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), originating in, or... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Regarding Issue of 'proper officer' under the Customs Act, 1962 Posted: 02 May 2012 06:32 AM PDT Notification No. 40/2012-Customs (N.T.) New Delhi, dated the 2nd May, 2012. S.O. (E). – In exercise of the powers conferred by sub-section (34) of section 2 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs, hereby assigns the officers and above the rank... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Notification No. 39/2012 – Customs (N. T.) – Amends Notification No. 36/2001-Customs(N.T) dated 3rd August 2001 Posted: 02 May 2012 06:31 AM PDT Notification No. 39/2012 – Customs (N. T.) Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Customs – Regarding classification of Micro / Mini SD Cards Posted: 02 May 2012 06:25 AM PDT Circular No.12/2012 - Customs Doubts have been raised as regards the classification of Micro / Mini SD Cards in the Sub-heading 852351, which covers Semiconductor media, Solid – state non-volatile storage devices or the Sub-heading 852352, which applies to Semiconductor media, Smart cards. The... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Two 15 Days GMCS Programme for CA students from 01.05.2012 Posted: 02 May 2012 06:03 AM PDT The Council has decided that the General Management and Communication Skills (GMCS) Programme, presently being organized for 15 days for the CA students should be organized twice during the period of articled training as under: (i) GMCS-I (15 days) - during 1st year of articled training (ii)... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| ICAI – Feedback of Candidates on Question Paper-Chartered Accountants Examinations, May 2012 Posted: 02 May 2012 06:00 AM PDT The Institute has developed an online Feedback form on the Question Papers of Chartered Accountants Examinations to be held from 2nd May 2012 to 17th May 2012 at the link http://www.icai.org/app_forms/student_feedback.html. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Clarification regarding withdrawal of provision of revalidation of RCs by RAs for export of cotton and cotton yarn Posted: 02 May 2012 05:57 AM PDT Policy Circular No. 61(RE-2010)/2009-14 A question has been raised by certain exporters whether revalidation provision for cotton yarn still continues. This may be due to the fact that the subject header in Public Notice No. 102 dated 16.03.2012 mentions "Procedure for scrutiny and revalidation of... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Online transmission of DES (Advance Authorization), DFIA and EPCG at ICD CONCOR, Tondiarpet, Chennai, Tamilnadu (IN TVT 6) w.e.f. 08.05.2012 – regarding Posted: 02 May 2012 05:55 AM PDT Policy Circular No. 60 (RE-2010)/2009-14 As and when Customs (CBEC) have conveyed their readiness to implement on-line message exchange between Customs and DGFT, Policy Circulars have been issued from time to time by DGFT indicating the names and Port Codes of such Customs Ports where EDI facility... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Regarding File applications for 53 SEZ ports codes Posted: 02 May 2012 05:52 AM PDT Policy Circular No. 59 (RE-2010) /2009-14 Director General (Systems) have accorded SEZ port codes to the following 53 SEZs which have been uploaded on DGFT's website:- [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Amendment in Appendix 1 of HBP Vol. I (Appendices and Aayat Niryat Forms), 2009-2014 Posted: 02 May 2012 05:48 AM PDT Public Notice No.108/2009-2014 (RE-2010) The 2nd May, 2012 Subject: Amendment in Appendix 1 of Handbook of Procedure Vol. I (Appendices and Aayat Niryat Forms), 2009-2014. In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy 2009-2014, the Director General of Foreign... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Amendment of SION of Food Products (Code 'E') in the HBP V.2 (2009-14) – Re-numbering of SION E – 1A as E – 131 Posted: 02 May 2012 05:46 AM PDT PUBLIC NOTICE No. 107 (RE-2010)/2009-14 SION E-1A that was notified by Public Notice No.94 dated 01.02.2012 is being re-numbered as SION E-131. There is no change in the Import Items (either in description or in quantity permitted). [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Amendment of SION of Food Products (Code 'E') in Handbook of Procedures V.2 (2009-14) Posted: 02 May 2012 05:43 AM PDT PUBLIC NOTICE No. 106 (RE-2010)/2009-14 SION E-129A that was notified by Public Notice No.92 dated 01.02.2012 is being re-numbered as SION E-130. There is no change in the Import Items (either in description or in quantity permitted). [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Amendment in policy for export of Casein and Casein products Posted: 02 May 2012 05:38 AM PDT Notification No 112 (RE – 2010)/2009-2014 Export of Casein and Casein products has been moved from Prohibited to Restricted category. Export of casein is now permitted under licence. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Regarding services provided by the Agricultural Produce Marketing Committee (APMC) /Board Posted: 02 May 2012 05:29 AM PDT Circular No. 157/8 /2012-ST Representations have been received, seeking clarification regarding the levy of service tax on certain services provided by the Agricultural Produce Marketing Committee (APMC)/Board, using the 'market fee', in the light of Notification No.14/2004-ST. The representations... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 
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| Display of Citizens Charter in all buildings of Income Tax Department Posted: 02 May 2012 05:26 AM PDT The Results Framework Document (RFD) for the Income Tax Department for the financial year 2012-13 under the objectives "Communication with Taxpayers" includes one of the action point "Display of Citizen's Charter in all the buildings of the Department". |
