| Section 11A-Branches opened for invocation of extended time limit… Posted: 05 Mar 2011 08:16 AM PST 
Finance Bill, 2011 has substituted the language of this section. The basic theme of this section has been kept alive alongwith certain additions. The new section states as follows:- Sub section 1 to section 11A says that where any duty is short... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Expansion of scope of Legal Consultancy Service Posted: 05 Mar 2011 08:11 AM PST 
The Legal Consultancy service was brought under Service Tax net from 01.09.2009. The Taxable service was defined under sub-clause (zzzzm) of clause (105) of Section 65 of the Finance Act, 1994. The Legal services provided to a business entity by any... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Pay service tax for Health services!!! Posted: 05 Mar 2011 08:10 AM PST 
In the chain of imposition of duty on new services the levy on hospitals has also been added in the budget 2010-11. Although the rate of service tax is kept constant at 10% but in order to increase indirect tax revenues the Hon'ble Finance Minister... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Special Economic Zones – No More Special Posted: 05 Mar 2011 08:10 AM PST 
Special Economic Zones (SEZs) which contribute over 30 % of country's exports have been adversely hit by Budget 2011 proposals as the SEZs have been brought under Minimum Alternate Tax (MAT) by 20.1 percent (including cess) and dividend distribution... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Exempts perfumes commonly known as "Attar" subject to certain conditions – Notification No. 18/2011-Central Excise Posted: 05 Mar 2011 07:08 AM PST 
In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act,1944 (1 of 1944) (hereinafter referred to as the Act) , the Central Government, on being satisfied that it is necessary in the public interest so to do,... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Exempts Handicraft and certain goods of cottage industry – Notification No. 17/2011-Central Excise Posted: 05 Mar 2011 07:07 AM PST 
In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), and in supersession of the notification of the Government of India in the Ministry of Finance ( Department of Revenue) no. 76/86-... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Exempts movement of goods between the factories of a manufacturer of power tillers of heading 8432 – Notification No. 16/2011-Central Excise Posted: 05 Mar 2011 07:05 AM PST 
In exercise of the powers conferred by sub-section(1) of section 5A of the Central Excise Act, 1944 (1 of 1944), and in supersession of the notification number 32/2007, dated the 30th July , 2007, published in the Gazette of India, Extraordinary,... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Amends notification no. 3/2005 – exemption withdrawn from various items – Notification No. 15/2011-Central Excise Posted: 05 Mar 2011 07:04 AM PST 
In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Transaction value based duty on Software's on which MRP is not required to be printed- Notification No. 14/2011-Central Excise Posted: 05 Mar 2011 07:02 AM PST 
In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts packaged software or... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Relaxation in registration requirement to the job workers – ready made garments – Notification No. 13/2011-Central Excise Posted: 05 Mar 2011 07:01 AM PST 
In exercise of the powers conferred by sub-rule (2) of rule 9 of the Central Excise Rules, 2002 (hereinafter referred to as the said rules), the Central Board of Excise and Customs, hereby exempts from the operation of the said rule 9 every job... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Amends notification no. 30/2004 – Exemption to specified goods of chapters 50 to 63 – Exemption withdrawn from All goods bearing a brand name or sold under a brand name – Notification No. 12/2011-Central Excise Posted: 05 Mar 2011 07:00 AM PST 
In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944) read with sub-section (3) of section 3 of the Additional Duties of Excise (Goods of Special importance) Act, 1957 (58 of 1957), the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Amends notification no. 29/2007 – Effective rate of duty for goods of Chapter 50 to 63 – and substitution of entry no. 9 – Notification No. 11/2011-Central Excise Posted: 05 Mar 2011 06:59 AM PST 
In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Amends notification no. 10/2006 – Effective Rate of duty on specified goods increased from 4 pc to 5 pc and various entries omitted. – Notification No. 10/2011-Central Excise Posted: 05 Mar 2011 06:58 AM PST 
In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Amends notification no. 59/2008 – Effective Rate of Duty on certain Items – lower rate 4 pc increased to 5 pc – Notification No. 9/2011-Central Excise Posted: 05 Mar 2011 06:56 AM PST 
In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Amends notification no. 8/2003 – SSI Exemption – Notification No. 8/2011-Central Excise Posted: 05 Mar 2011 06:54 AM PST 
In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Rescinds notification no. 49/2009 – Exempts Printing Blocks, Printing types, mathematical calculating instruments and pantographs- Notification No. 7/2011-Central Excise Posted: 05 Mar 2011 06:53 AM PST 
In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act ,1944 (1 of 1944), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby rescinds the notification of... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Blackmoney case- SC orders reinstatement of ED sleuths Posted: 05 Mar 2011 06:30 AM PST 
The Supreme Court on Thursday came down heavily on the Centre for failing to crack the whip on black money hoarders and ordered forthwith reinstatement of three key ED officials allegedly transferred midway into the probe in a case of foreign... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Custom Duty- Proper officer – Section 2(34) – meaning and scope of the term "proper officer" Posted: 05 Mar 2011 06:15 AM PST 
From a conjoint reading of Sections 2(34) and 28 of the Act, it is manifest that only such a customs officer who has been assigned the specific functions of assessment and re-assessment of duty in the jurisdictional area where the import concerned... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Section 11(2) of the Foreign Trade (Development and Regulation) Act, 1992 Posted: 05 Mar 2011 06:09 AM PST 
These are appeals against the order dated 24.09.2007 of the Division Bench of the High Court of Delhi in L.P.A. No.1098 of 2006 and against the order dated 02.11.2007 of the Division Bench of the High Court of Delhi in Review Application No.396 of... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Amends notification no. 6/2006 – Effective Rate of Duty on goods of Chapter 83 to Chapter 93- Notification No. 6 /2011- Central Excise Posted: 05 Mar 2011 05:59 AM PST 
Notification No. 6 /2011- Central Excise, New Delhi, the 1st March, 2011. G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, on being satisfied that... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Amends notification no. 5/2006 – Effective Rate of Duty on goods of Chapter 54 to Chapter 82- Notification No. 5 /2011-Central Excise Posted: 05 Mar 2011 05:57 AM PST 
Notification No. 5 /2011-Central Excise, New Delhi, the 28th February, 2011. G.S.R. (E). - In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, on being satisfied... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Amends notification no. 4/2006 – Effective Rate of Duty on goods of Chapter 26 to Chapter 48- Notification No. 4/2011-Central Excise Posted: 05 Mar 2011 05:56 AM PST 
Notification No. 4/2011-Central Excise, New Delhi, the 1st March, 2011. G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, on being satisfied that it... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Commerce Minister surprised by MAT on SEZs Posted: 05 Mar 2011 05:15 AM PST 
Expressing "surprise" at the Budget proposal to impose Minimum Alternate Tax on SEZ developers, Commerce and Industry Minister Anand Sharma on Friday said he has voiced his concerns to Finance Minister Pranab Mukherjee as the move would impact these... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Goldman CEO agrees to testify in insider-trading case Posted: 05 Mar 2011 05:12 AM PST 
Goldman Sachs Group Inc Chief Executive Lloyd Blankfein has agreed to testify for the US government at the upcoming trial of Galleon hedge fund founder Raj Rajaratnam, according to a media report. [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Sibal to discuss spectrum, Merger and Acquisitions with telcos Posted: 05 Mar 2011 05:04 AM PST 
Telecom Minister Kapil Sibal is likely to meet industry players on Tuesday in order to reach a consensus on issues, including licencing, spectrum allocation, spectrum sharing and mergers and acquisition. [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Why Indians switching jobs or Look for New Job Posted: 05 Mar 2011 05:02 AM PST 
Less-than-expected pay as well as lack of growth opportunities at work place are driving many employees in India to look out for new jobs, says a survey. According to global technology and consultancy giant Accenture, about 37 per cent of employees... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| CVC Disposed of 668 Cases in January 2011 Major Penalty Proceedings Recommened Against 116 Officers Posted: 05 Mar 2011 04:50 AM PST 
The Central Vigilance Commission (CVC) disposed of 668 cases during January 2011 referred to it for advice. Of these, 518 complaints were sent for necessary action/ATR whereas 27 complaints were sent for investigation and report. No action was... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Check Your Passport Status online Posted: 05 Mar 2011 04:48 AM PST 
Indian Citizens who applied for Passport in India Can now check their Passport Status online. We are giving below a link where the Applicant have to Selce City, enter File Reference No. and Select Year of Registration and his status will appear on... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Once a gift is complete, the same cannot be rescinded Posted: 05 Mar 2011 04:24 AM PST 
Once a gift is complete, the same cannot be rescinded. For any reason whatsoever, the subsequent conduct of a donee cannot be a ground for rescission of a valid gift. [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Govt to get new study conducted on black money- Palanimanickam Posted: 05 Mar 2011 04:11 AM PST 
The government today said it will get a new study conducted on black money stashed by Indians within and outside the country by July next year. The government has decided to get a fresh study conducted on unaccounted income and wealth, both inside... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| RBI to soon complete probe into Rs 460-cr Citibank fraud- Govt Posted: 05 Mar 2011 04:04 AM PST 
The government today said that Reserve Bank of India (RBI) has conducted a special inquiry into Rs 460-crore Citibank fraud case and was in the process of completing its final report. " RBI has conducted a special scrutiny of the related accounts at... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| Section 54EC Relief available Even If Cheque Cleared after 6 Month Limit Posted: 05 Mar 2011 03:42 AM PST 
Mumbai ITAT has held in an important case namely Kumarpal Amrutlal Doshi vs. DCIT (ITAT Mumbai) that relief u/s 54EC shall be available even if the bonds are issued after the requisite period of 6 months for investment, if the cheque is issued... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| CWA – Examination Time Table and Programme for June 2011 Term Posted: 04 Mar 2011 08:40 PM PST 
THE INSTITUTE OF COST AND WORKS ACCOUNTANTS OF INDIA. EXAMINATION TIME TABLE & PROGRAMME – June 2011. Application Forms for CAT Examination can be down loaded from Institute's website www.icwai.org and filed online also. 2. Last date of... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
| ICSI Campus Placement for Fresher Members at NIRC – 15th March 2011 Posted: 04 Mar 2011 08:36 PM PST 
The Placement Cell of the ICSI is organizing a Campus Placement on Tuesday, the 15th March 2011 at 10.00 A.M. at NIRC of ICSI ,4 Institutional Area, Prasad Nagar , Delhi -110005. Members admitted on or after 1st December 2010 and eligible... [[ This is a content summary only. Visit www.taxguru.in for full article ]]  |
