Govt. of India enters into DTAA with KINGDOM OF NORWAY

Notification No. 24/2012 [F.NO. 505/3A/81-FTD-I], DATED 19-6-2012

Whereas an Agreement between the Republic of India and the Kingdom of Norway for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income and on Capital was signed at New Delhi on the 2nd day of February, 2011;

And whereas, the date of entry into force of the said Protocol is the 20th day of December, 2011, being the date of later of the notifications of satisfaction of all legal requirements and procedures as required by the respective laws for entry into force of the Agreement, in accordance with Paragraph 2 of Article 31 of the said Agreement;

And whereas, sub-paragraph (a) of Paragraph 3 of Article 31 of the said Agreement provides that the provisions of the said Agreement shall have effect in India in respect of income derived or capital owned in any fiscal year beginning on or after the first day of April next following the calendar year in which the Agreement entered into force;

Now, therefore, in exercise of the powers conferred by section 90 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby directs that all the provisions of the said Agreement, as set out in the Annexure hereto, shall be given effect to in the Union of India. In respect of income and on Capital arising in any fiscal year beginning on or after the 1st day of April, 2012.

Extension of due date for filing Form 49C for F.Y. 2011-12

Order [F. No. 225/124/2012/ITA.II], dated 20-6-2012

Section 285 of Income-tax Act and Rule 114DA of Income-tax Rules read with Circular No. 5 of 2012, dated 6-2-2012, prescribes that a specified categories of assessees having a (Liaison Office in India shall electronically file Form 49C, within 60 days from the end of financial year. The due date for filing Form 49C for the financial year 2011-12 was prescribed as 30th May, 2012.

Authorization of AOs in certain cases to rectify/reconcile disputed arrear demand

Circular No. 4 of 2012, dated 20-6-2012

The Board has been apprised that in certain cases the assessees have disputed the figures of arrear demands shown as outstanding against them in the records of the Assessing Officer. The Assessing Officers have expressed their inability to correct/reconcile such disputed arrear demand on the ground that the period of limitation of four years as provided under sub-section (7) of section 154 of the Act has expired.

Further, in some cases, the Assessing Officers have uploaded such disputed arrear demand on the Financial Accounting System (FAS) portal of Centralized Processing Center (CPC), Bengaluru which has resulted in adjustment of refund arising out of processing of Returns against such arrear demand which has been disputed by such assessees on the grounds that either such demand has already been paid or has been reduced/ eliminated in the appeals, etc. The arrear demands, in these cases also were not corrected / reconciled for the reason that the period of limitation of four years has elapsed.

DGAD imposes anti-dumping duty on import of Pentaerythritol

[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. 33 /2012-Customs (ADD)

New Delhi, dated the 20^th June, 2012

      G.S.R. (E). – Whereas, in the matter of import of Pentaerythritol (hereinafter referred to as the subject goods), falling under sub-heading 2905 42 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the said customs Tariff Act), originating in, or exported from European Union (excluding Sweden)(hereinafter referred to as the subject countries) and imported into India, the designated authorityvide its final findings No. 14/43/2010-DGAD dated the 10^thApril, 2012, published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 10^thApril, 2012,  had come to the conclusion that-

CBEC amends Notification No. 44/2011-Customs (N.T.) and 40/2012-Customs (N.T.)

 [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)

New Delhi, the  21^st  June, 2012.

Jyaistha 31, 1934 SAKA

Notification No.  53 / 2012-Customs- (N.T.)

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, being satisfied that it is necessary in the public interest so to do, hereby directs that each of the notifications of the  Government of India in the Ministry of Finance (Department of Revenue), specified in column (2) of the Table below, shall be amended, in the manner  specified in the corresponding entry in column (3) of the said Table, namely:-

CBEC notifies Rate of exchange of conversion of each of the foreign currency with effect from 22nd June, 2012

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, PART-II, SECTION 3, SUB-SECTION (ii), EXTRAORDINARY]

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

DEPARTMENT OF REVENUE

CENTRAL BOARD OF EXCISE AND CUSTOMS

Notification No.52/2012 - Customs (N.T.)

DATED THE 21^st June, 2012

31 Jyaistha, 1934(SAKA)

            S.O.       (E). – In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.49/2012-CUSTOMS (N.T.), dated the 7^th June, 2012 videnumber S.O.1304 (E), dated the 7^th June, 2012, except as respects things done or omitted to be done before such super session, the Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currency specified in column (2) of each of Schedule I and Schedule II annexed hereto into Indian currency or vice versa shall, with effect from 22^nd June, 2012 be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods.

CG Amends CENVAT Credit Rules, 2004

[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.28/2012-Central Excise (N.T)

New Delhi, the 20^th June, 2012

G.S.R.       (E).-In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944) and section 94 of the Finance Act, 1994 (32 of 1994), the Central Government, hereby makes the following rules further to amend the CENVAT Credit Rules, 2004, namely:-

1.         (1) These rules may be called the CENVAT Credit (Sixth Amendment) Rules, 2012.

            (2) They shall come into force on the 1^st day of July, 2012. 

CBEC notifies procedure, safeguards, conditions and limitations for grant of refund of CENVAT credit under Rule 5 of CENVAT Credit Rules, 2004

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II SECTION 3 SUB-SECTION (i)]

GOVERNMENT OF INDIA

MINSITRY OF FINANCE

DEPARTMENT OF REVENUE

CENTRAL BOARD OF EXCISE AND CUSTOMS

Notification No. 27 /2012-CE (N.T.)

New Delhi the, 18^th June, 2012

            G. S. R  -(E).- In exercise of the powers conferred by rule 5 of the CENVAT Credit Rules, 2004 (hereinafter referred to as the “said rules”), and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue), No 5/2006 – Central Excise (N.T), dated the 14^th March, 2006, published in Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R 156(E), dated the 14^thMarch, 2006, the Central Board of Excise and Customs hereby directs that refund of CENVAT credit shall be allowed subject to the procedure, safeguards, conditions and limitations as specified below, namely:-.

CBEC clarifies on Audit fees collected by the Comptroller and Auditor General (CAG)

Circular No. 159/10/2012-ST

F.No.354/89/2012-TRU

Government of India

Ministry of Finance

Department of Revenue

Central Board of Excise & Customs

(Tax Research Unit)

*****

Room No. 153, North Block,

New Delhi, 19^th June, 2012.

To

            Chief Commissioners of Customs and Central Excise (All)

            Chief Commissioners of Central Excise & Service Tax (All)

            Directors General of Service Tax/Central Excise Intelligence/Audit

            Commissioners of Central Excise & Service Tax (All)

            Commissioners of Service Tax (All)

            Commissioners of Customs and Central Excise (All)

           

Madam/Sir,

Subject: Audit fees collected by the Comptroller and Auditor General (CAG) – regarding.

           

            A doubt has been raised whether service tax is leviable on the audit fees collected by the CAG for conducting directly, audit of corporations.  Reportedly some field formations are inclined to take a view that such ‘audit fee’ collected by the CAG is leviable to service tax under the authority of the inclusive portion of the definition of “practicing chartered accountant” read with the relevant definition of the taxable service [Section 65(83) read with section 65(105)(s) of Finance Act, 1994].

Exemption on services provided to SEZ authorised operations

[TO BE PUBLISHED IN THE GAZZETE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]

Government of India 

Ministry of Finance (Department of Revenue)

Notification No. 40 / 2012-Service Tax

New Delhi, the 20^th June, 2012

 G.S.R. (E). - In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the said Act) read with sub-section 3 of section 95 of Finance (No.2), Act, 2004 (23 of 2004) and sub-section 3 of section 140 of the Finance Act, 2007(22 of 2007) and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 17/2011-Service Tax, dated the 1st March, 2011, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R.174(E), dated the 1st March, 2011, except as respects things done or omitted to be done before such supersession, the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the services on which service tax is leviable under section 66B of the said Act, received by a unit located in a Special Economic Zone (hereinafter referred to as SEZ) or Developer of SEZ and used for the authorised operations, from the whole of the service tax, education cess and secondary and higher education cess leviable thereon.

Notification under rule 6A of Service Tax Rules, 1994

[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.39/2012 - Service Tax

 New Delhi, the 20^th June, 2012

GSR …. (E). In exercise of the powers conferred by rule 6A of the Service Tax Rules, 1994 (hereinafter referred to as the said rules), the Central Government hereby directs that there shall be granted rebate of the whole of the duty paid on excisable inputs or the whole of the service tax and cess paid on all  input services (herein after referred to as ‘input services’), used in providing  service exported in terms of rule 6A of the said rules, to any country other than Nepal and Bhutan, subject to the conditions, limitations and procedures specified hereinafter,- 

CG amends of Notification 28/2011-ST, dated the 1st April, 2011

[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. 38/2012 - Service Tax

New Delhi, the 20^th June, 2012

G.S.R. (E).- In exercise of the powers conferred by sections 93 and  94 of the Finance Act, 1994 (32 of 1994), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.28/2011-Service Tax, dated the 1^st April, 2011,  published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i),  vide number  G.S.R.  293(E), dated the 1st April, 2011, namely:-

CG amends Point of Taxation Rules

[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. 37/2012 – Service Tax

                                                     

New Delhi, the 20^th June, 2012

            G.S.R. ….(E).- In exercise of the powers conferred by clause (a) and clause (hhh) of sub- section (2) of section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the Point of Taxation Rules, 2011, namely:—

1.         (a)        These rules may be called the Point of Taxation (Amendment) Rules, 2012.

            (b)        They shall come into force on the 1^st day of July, 2012.

CG amends Service Tax Rules

[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.  36/2012- Service Tax

New Delhi, the   20^th June , 2012

          G.S.R. (E)- In exercise of the powers conferred by sub-section (1) read with sub-section (2) of section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the Service Tax Rules, 1994, namely:—

 1.      (1) These rules may be called the Service Tax (Second Amendment) Rules, 2012.

          (2) They shall come into force on the 1^st day of July, 2012.

CG rescinds Notification No. 32/2007 – Service Tax, dated the 22nd May, 2007

[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. 35/2012 - Service Tax

            New Delhi, the 20^th June, 2012

G.S.R. (E).- In exercise of the powers conferred by sections 93 and  94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby rescinds the notification of the Government of India, in the Ministry of Finance (Department of Revenue) No. 32/ 2007 – Service Tax, dated the 22^nd  May, 2007, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section(i), vide number G.S.R. 378(E), dated the 22^nd May 2007, except as respects things done or omitted to be done before such rescission.

Service Tax - CG rescinds 81 notifications

[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. 34/2012- Service Tax

New Delhi, the 20^th June, 2012

G.S.R…..(E).-  In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, being satisfied that it is necessary in the public interest so to do,  hereby rescinds the following notifications of the Government of India in the Ministry of Finance (Department of Revenue), as specified in column (2) of the Table below, except as respects things done or omitted to be done before such recession namely:-

CG exempts Small service providers from Service Tax bracket

[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. 33/2012 - Service Tax

New Delhi, the 20th June, 2012

G.S.R. (E).-  In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the said Finance Act),  and in supersession of the Government of India in the Ministry of Finance (Department of Revenue) notification No. 6/2005-Service Tax, dated the 1^st March, 2005,  published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide G.S.R. number 140(E), dated the 1^st March, 2005, except as respects things done or omitted to be done before such supersession, the Central Government, being satisfied that it is necessary in the public interest so to do,  hereby exempts taxable services of aggregate value not exceeding ten lakh rupees in any financial year from the whole of the service tax leviable thereon under section 66B of the said Finance Act:        

CG exempts services provided or to be provided by TBI / STEP / NSTEDB

[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. 32/2012- Service Tax

New Delhi, the 20^th June, 2012

            G.S.R….. (E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) and in supersession of the Government of India in the Ministry of Finance (Department of Revenue) notification number 9/2007-ST, dated the 1^st March,2007, published in the Gazette of India, Extraordinary, vide number G.S.R. 163 (E), dated the 1^st March,2007, except as respects things done or omitted to be done before such supersession, the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts taxable services, provided or to be provided, by a Technology Business Incubator (TBI) or a Science and Technology Entrepreneurship Park (STEP) recognized by the National Science and Technology Entrepreneurship Development Board (NSTEDB) of the Department of Science and Technology, Government of India, from the whole of the service tax leviablethereon under section 66B of the said Finance Act, subject to following conditions, namely:-

Service Tax - CG Exempts specified services received by exporter of goods

[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. 31/2012 - Service Tax

New Delhi, the 20th June, 2012

G.S.R…. (E). -In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the said Act) and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 18/2009-Service Tax, dated the 7^th July, 2009, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R.490 (E), dated the 7^th July, 2009, except as respects things done or omitted to be done before such supersession, the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the taxable service received by an exporter of goods (hereinafter referred to as the exporter) and used for export of goods (hereinafter referred to as the said goods), of the description specified in column (2) of the Table below (hereinafter referred to as the specified service), from the whole of the service taxleviable thereon under section 66B of the said Act, subject to the conditions specified in column (3) of the said Table, namely:-

CG notifies the extent of service tax payable by the person liable to pay service tax u/s 68(2) of Finance Act, 1994

[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. 30/2012-Service Tax 

New Delhi, the 20^th June, 2012 

            GSR.…..(E).—In exercise of the powers conferred by sub-section (2) of section 68 of the Finance Act, 1994 (32 of 1994), and in supersession of  (i) notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 15/2012-Service Tax, dated the   17^th  March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i),vide number G.S.R 213(E), dated the  17^th  March, 2012, and (ii) notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2004-Service Tax, dated the  31^st  December, 2004, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 849 (E), dated the 31^st December, 2004,  except as respects things done or omitted to be done before such supersession, the Central Government hereby notifies the following taxable services and the extent of service tax payable thereon by the person liable to pay service tax for the purposes of the said sub-section, namely:—

Service Tax - CG Exempts property tax paid on immovable property

[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. 29/2012- Service Tax

New Delhi, the 20^th June, 2012

G.S.R……(E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the Finance Act), and in supersession of the Government of India in the Ministry of Finance (Department of Revenue) notification No. 24/2007-Service Tax, dated the 22^nd May, 2007, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 370 (E), dated the 22^nd May, 2007, except as respects things done or omitted to be done before such supersession, the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the taxable service of renting of an immovable property, from so much of the service tax leviable thereon under section 66B of the said Finance Act, as is in excess of the service tax calculated on a value which is equivalent to the gross amount charged for renting of such immovable property less taxes on such property, namely property tax levied and collected by local bodies:

Service Tax - CG introduces Place of Provision of Services Rules, 2012

[TO BE PUBLISHED IN THE GAZZETE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]

Government of India
Ministry of Finance
(Department of Revenue)

 Notification No. 28/2012 - Service Tax

New Delhi, the 20^th June, 2012

G.S.R…..(E).- In exercise of the powers conferred by sub-section (1) of section 66C and clause (hhh) of sub-section (2) of section 94 of the Finance Act, 1994 and in supersession of the notification of the Government of India in the Ministry of Finance, Department of Revenue, number 9/2005-ST, dated the 3^rd March, 2005 published in the Gazette of India Extraordinary, Part II, Section 3, Sub-Section (i) videnumber G.S.R. 151 (E) dated the 3^rd March, 2005 and the notification of the Government of India in the Ministry of Finance, Department of Revenue, number 11/2006-ST dated the 19^th May, 2006 published in the Gazette of India Extraordinary, Part II, Section 3, Sub-Section (i)vide number G.S.R. 227 (E) dated the 19^th May, 2006, except as respects things done or omitted to be done before such supersession, the Central Government hereby makes the following rules for the purpose of determination of the place of provision of services, namely:-

CG Exempts services for the official use of foreign Diplomatic Mission from Tax bracket

[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. 27/2012 - Service Tax

New Delhi, the 20^th June, 2012

 G.S.R.   (E).- In exercise of the powers conferred by section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts  taxable services  provided by any person, for the official use of a foreign diplomatic mission or consular post in India, or for personal use or for the use of the family members of diplomatic agents or career consular officers posted therein from whole of the service taxleviable under section 66B of the said Act, subject to the following conditions, namely:-

Service Tax - CG issues Abatement Notification for 12 Services

[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. 26/2012- Service Tax

New Delhi, the 20^th June, 2012

G.S.R….. (E). - In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the said  Act), and in supersession of notification number 13/2012- Service Tax, dated the 17^th March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 211 (E), dated the 17^th March, 2012, the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the taxable service of the description specified in column (2) of the Table below, from so much of the service tax leviable thereon under section 66B of the said   Act, as is in excess of the service tax calculated on a value which is equivalent to a percentage specified in the corresponding entry in column (3) of the said Table, of the amount charged by such service provider for providing the said taxable service, unless specified otherwise, subject to the relevant conditions specified in the corresponding entry in column (4) of the said Table, namely;-

Service Tax - Mega Exemption Notification issues by CG

[TO BE PUBLISHED IN THE GAZZETE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]

Government of India
Ministry of Finance
(Department of Revenue)

Notification No.  25/2012-Service Tax

New Delhi, the 20^th June, 2012

G.S.R……(E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the said Act) and in supersession of notification number 12/2012- Service Tax, dated the 17^th March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 210 (E), dated the 17^th March, 2012, the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the following taxable services from the whole of the service tax leviable thereon under section 66B of the said Act, namely:-

CG introduces Service Tax (Removal of Difficulty) Order, 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)

ORDER

New Delhi, the 15^th June, 2012

NO.1/2012

            G.S.R.   (E). – Whereas difficulties have arisen in giving effect to the provisions of section 143 of the Finance Act, 2012 (23 of 2012), in so far as it relates to insertion of section 66B in Chapter V of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the Finance Act);

FM rejects S&P Report that India could be the First BRIC Country to falter

       The Union Finance Minister Shri Pranab Mukherjee said that the Government is fully seized of the current situation and he is confident that there will be a turnaround in our growth prospects in the coming months. The Finance Minister Shri Mukherjee was reacting to the S&P recent report suggesting that India could be the first BRIC country to falter. The Finance Minister Shri Mukherjee said that this is not based on a fresh rating action. S&P had issued India's sovereign credit rating on April 25, 2012 reaffirming India's long-term sovereign credit rating at BBB(-). It had, however, revised India's outlook to negative from stable.

Gross Direct Tax Collection figures for April-May 2012-13 is up by 3.62% at Rs. 52,232 Crore as against Rs. 50,407 Crore in the same period in F.Y.2011-12

Gross Direct Tax collections during April-May of the F.Y. 2012-13 was up by 3.62 percent at Rs. 52,232 Crore as against Rs. 50,407 Crore in the same period in F.Y.2011-12. While Gross Collection of Corporate Taxes showed a decline of (-) 2.82 percent during April-May of the F.Y. 2012-13 and stood at Rs. 24,329 Crore as against Rs. 25,035 Crore in the same period in F.Y. 2011-12. Gross collection of Personal Income Tax was up by 10.02 percent and stood at Rs.27,884 Crore as against Rs.25,344 Crore in the same period in F.Y. 2011-12. Net Direct Tax collections, however, showed a significant increase by 172.64 percent during April-May of the F.Y. 2012-13 and stood at Rs.35,323 crore, up from Rs.12,956 crore in the same period in F.Y.2011-12. This upward surge in Net Collections was due to declined in refunds by (-) 54.85 % as compared to year ago period.

ICSI - Last date for payment of Annual Licentiate Subscription for 2012-13

Dear Licentiate,

We wish to inform you that the Annual Licentiate Subscription for the year 2012 -13 became due for payment w.e.f. 1^st April, 2012.  The last date for payment of fee is 30^th June, 2012.  You are requested to please remit Rs.1000/- by demand draft/local cheque at par in favour of `The Institute of Company Secretaries of India'  payable at New Delhi on or before 30.06.2012. 

Group to examine the applicability of service tax or otherwise on certificate courses, training courses, conferences/seminars and other programmes on paid basis conducted by ICAI and its various organs

Council Affairs/M-626/2012 15th June, 2012

ALL MEMBERS OF THE COUNCIL

Madam/Dear Sir,

The President, in terms of the authority given to him by the Council at its 314th meeting held from 10th to 12th February, 2012, has constituted a Group, comprising of the following members, to examine the applicability of service tax or otherwise on certificate courses, training courses, conferences/seminars and other programmes on paid basis conducted by ICAI and its various organs and come out with its recommendations:

ICAI - Certificate Course on Forex and Treasury Management

Dear Members,

This is to inform you that next batch of Certificate Course on Forex and Treasury Management at Mumbai Centre will be starting on 07th July, 2012.

Venue: Hotel Mirador, New Link Road, Chakala, Andheri (East), Mumbai.

ICAI - Status of Intervening Holidays during CA Examination.

Status of Intervening Holidays during CA Examination June 13, 2012

The Council of the Institute recently considered the issue regarding status of intervening holidays during CA Examinations and decided that the break in between examination days, though not holidays, be treated as period actually served under articles.

CBEC Clarifies the Procedure to be followed for import of Indian vessels and filing of Import General Manifest, Bill of Entry

Circular No. 16 /2012-Customs

F. No.450/79/2010-Cus.IV

Government of India

Ministry of Finance

Department of Revenue

Central Board of Excise and Customs

*****

Room No.229 A, North Block

New Delhi, dated 13^th June, 2012

To,

All Chief Commissioners of Customs / Customs (Prev.).

All Chief Commissioners of Customs & Central Excise.

All Director Generals / Chief Departmental Representatives (CESTAT),

All Commissioners of Customs / Customs (Prev.). 

All Commissioners of Customs (Appeals). 

All Commissioners of Customs & Central Excise.

All Commissioners of Customs & Central Excise (Appeals).

                       

Sir / Madam,

           

Subject: Procedure followed for import of Indian vessels and filing of Import General Manifest, Bill of Entry – regarding.

          I am directed to invite your attention to the Board’s instruction issued vide F.No.450/79/2010-Cus.IV dated 23.09.2010 which state that the requirement for filing Import General Manifest (IGM) and Bill of Entry should be complied with even in cases, where goods are exempt from payment of any duty.  The jurisdictional Commissioners were also instructed to review the situation, and take appropriate action for past cases, including adjudication, if warranted, in case of non-fulfillment of aforesaid filing of documents.