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.