Wealth-tax

Effective Rates of DEPB : ** : Transporters’ strike unreasonable and unjustified : ** : Rs. 600 crore for paying penidng claims of Excise Duty under deemed export released : ** : Service Tax exemption on certain GTA Services : ** : NDIA'S EXPORTS INCREASE FROM $ 63.8 BILLION IN 2003-04 TO $ 119.3 BILLION IN 2008-09 (APR-NOV) - SEZs GENERATE EMPLOYMENT : ** : Additional Government Measures for Stimulating the Economy : ** : Changes in Customs duty, Additional Customs duty rates and drawback : ** : Review of External Commercial Borrowings (ECB) policy : ** : Whether activities of a Liaison Office in India leads to income accruing or arising in India : ** : Exports up by 19.4% in April-November 2008 - INDIA’S FOREIGN TRADE DATA : NOVEMBER 2008 : ** :

Recent Cases:-	Income Tax	Service Tax	Central Excise	Customs

Welcome

Tuesday, January 06, 2009

Exempts Certain Taxable Services provided to a Goods Transport Agency - See Notification No. 01/2009 Dated: January 5, 2009 - Service Tax

Amends Notification No. 89/2005 - Exemption to goods from Customs duty and additional duty when imported against DutyEntitlementPass Book. - See Notification No. 03/2009 Dated: January 2, 2009 - Customs

Extension of time limit for filing of Form DVAT 51, Form C, EI, EII, F, I, J and H - See F.3(33)/P-II/VAT/Misc./2006/676-685 Dated: December 19, 2008 - VAT - Delhi

DEPB Rates as applicable before 5-11-2008 restored - See 124(RE-2008) /2004-2009 Dated: March 1, 2009 - DGFT

Amendment in the Handbook of Procedures v1.(RE 2008) - DEPB rates shall be effective upto 31-12-2009 - See 125 (RE-2008) /2004-2009 Dated: January 3, 2009 - DGFT

Procedure relating to sanction and pre-audit of refund claims- regarding. - See 22/2008 Dated: December 19, 2008 - Customs

Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR - See 45/2009 Dated: January 2, 2009 - FEMA

To examine or cause to be examined every application or e-Forms or documents submitted on www.mca.gov.in - Central Government makes the regulations to amend the Companies Regulations, 1956. - See Notification No. G.S.R. 888(E) Dated: December 24, 2008 - Misc

Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR - See 45/2009 Dated: January 2, 2009 - FEMA

Tariff value of edible oils, brass scrap and Poppy seeds notified - See Notification No. 141/2008 Dated: December 31, 2008 - Customs

Amends Notification no. 4/2005 Customs dated 24-1-2005 - Anti-dumping duty on Flexible Slabstock Polyol - See Notification No. 138/ 2008 Dated: December 31, 2008 - Customs

Amends Cenvat Credit Rules - Goods cleared to a unit in a special economic zone or to a developer of a special economic zone for their authorized operations are eligible for Cenvat Credit - See Notification No. 50/2008 Dated: December 31, 2008 - Central Excise

Amends Notification No. 32/2005 - Cement and steel used in construction of houses in tsunami affected areas of Tamil Nadu, Andhra Pradesh, Kerala, Pondicherry and Andaman and Nicobar Islands — Exemption - See Notification No. 60/2008 Dated: December 24, 2008 - Central Excise

PRE DEPOSIT BEFORE FILING APPEAL FOR SERVICE TAX MATTERS - See in Article Section

Import policy for new vehicles, as laid down under Chapter 87 shall be amended - See Notification No. 74 (RE-2008)/2004-09 Dated: December 30, 2008 - DGFT

Rate of Exchange for Import and Export of Goods - See Notification No. 140/2008 Dated: December 29, 2008 - Customs

Amends Appendix 4C - (Certificate of Origin Non-Preferential) - See 122 (RE-2008) /2004-09 Dated: December 30, 2008 - DGFT

Amends Appendix-2 of Handbook of Procedures (Vol. I), under the list of Export Promotion Councils/Commodity Board - See 123 (RE-2008) 2004-09 Dated: December 30, 2008 - DGFT

Clarification on classification of combined refrigerator freezer with separate external doors for the purpose of extending benefit of Notification No.85/2004-Customs dated 31.8.2004 - See 23/2008 Dated: December 29, 2008 - Customs

CENVAT CREDIT NOT TO BE REDUCED MERELY FOR SUBSEQUENT DISCOUNTS - See in Article Section

INVESTIGATION OF LIMITED LIABILITY PARTNERSHIP - See in Article Section

Income-tax (Eleventh Amendment) Rules, 2008 - Change in Authority - See Notification No. 111/2008 Dated: December 23, 2008 - Income Tax

Appoints Joint Commissioner / Additional Commissioner Competent Authority to perform certain functions (Territorial Jurisdiction) - See Notification No. 110/2008 Dated: December 23, 2008 - Income Tax

Notified Corporation for the purpose of Section 36(1)(xii) - See Notification No. 108/2008 Dated: December 19, 2008 - Income Tax

Anti Dumping Duty on Caustic soda (Caustic soda lye and caustic soda solid/flakes) of Korea ROK / China imposed - See Notification No. 137/2008 Dated: December 26, 2008 - Customs

DGFT fixes deadline as 20-06-2009 for SFIS for the current financial year - See 119 (RE-2008)/2004-2009 Dated: December 24, 2008 - DGFT

EXPLANATION REGARDING GROSS PROFIT MARGINS - See in Article Section

Refund of wrongly collected tax should be made voluntarily and honestly by the Government-excess and wrong collection should be treated as money held in trust - a point of view. - See in Article Section

Exempts petrol from duty of excise removed for use in ethanol blended petrol to unrelated parties. - See Notification No. 61/2008 Dated: December 24, 2008 - Central Excise

Exempts 10 ethanol blended petrol if appropriate duty of excise has been paid on petrol and ethanol - See Notification No. 62/2008 Dated: December 24, 2008 - Central Excise

Amends notification no. 28/2002 to exempt ethanol blended petrol - See Notification No. 63/2008 Dated: December 24, 2008 - Central Excise

Amends Notification No. 4/2006 to fix effective rate of duty on Cement Clinker @300/t and to exempt ethanol blended petrol - See Notification No. 64/2008 Dated: December 24, 2008 - Central Excise

Definition of 'Charitable purpose' under section 2(15) of the Income-tax Act, 1961 - reg. - See 11/2008 Dated: December 19, 2008 - Income Tax

Notification No. 63 (RE-2008) dated 21.11.2008 and No. 64 (RE- 2008) dated 24.11.2008 - transitional arrangements thereunder. - See 49(RE-2008)/2004-2009 Dated: December 22, 2008 -

Import of Trucks/Tippers/Dumpers etc. under EPCG Scheme. - See 48 / (RE-2008/2004-09) Dated: December 19, 2008 - DGFT

SMALL SCALE EXEMPTION UNDER SERVICE TAX PROVISIONS - See in Article Section

Corrigendum to notification no. 107/2008 dated 11-12-2008 - See Notification No. S.O. 2949(E) Dated: December 22, 2008 - Income Tax

Half Yearly DVAT return to be filed within 42 days - Instructions for Filing of Online Returns by Registered Dealers - DVAT-16 and Form I - See Notification No. No. F.7(7)/Policy-III/VAT/2005-06/662 Dated: December 17, 2008 - VAT - Delhi

Amendments in Appendix 37A - VKGUY w.e.f. 1-4-2008 - See 115 (RE-2008)/2004-2009 Dated: December 15, 2008 - DGFT

Export of Milk and value added Milk Products shall be entitled to VKGUY scheme benefits - See 116 (RE-2008)/2004-2009 Dated: December 15, 2008 - DGFT

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Wealth-tax - Forms
Wealth-tax

Form No.	Form Title
BA	Return of net wealth - For individuals/Hindu undivided families/companies

C	Notice of demand under section 30 of the Wealth-tax Act,1957

D	Notice of demand under section 30 of the Wealth-tax Act, 1957, for payment of tax provisionally assessed under section 15C of the Wealth-tax Act, 1957

DA	Form of application for settlement of cases under section 22C(1) of the Wealth-tax Act, 1957

DB	Declaration under section 18C(1) of the Wealth-tax Act, 1957 to be made by an assessee claiming that identical question of law is pending before the High Court

E	Form of appeal to the Deputy Commissioner (Appeals) and Commissioner of Wealth-tax (Appeals) under section 23 of the Wealth-tax Act, 1957

F	Form of appeal to the Appellate Tribunal under sub-section (1) or sub-section (2) of section 24 or sub-section (1) of section 26 of the Wealth-tax Act, 1957

G	Form of memorandum of cross-objections to the Appellate Tribunal under sub-section (2A) of section 24 of the Wealth-tax Act, 1957

H	Form of reference application under sub-section (1) of section 27 of the Wealth-tax Act, 1957

I	Application for information under section 42B of the Wealth-tax Act, 1957

J	Form for furnishing information under section 42B of the Wealth-tax Act, 1957

K	Form for intimating non-availability of information under section 42B of the Wealth-tax Act, 1957

L	Refusal to supply information under section 42B of the Wealth-tax Act, 1957

M	Warrant of authorisation under section 37A of the Wealth-tax Act, 1957

M-1	Warrant of authorisation under the proviso to sub-section (1) of section 37A of the Wealth-tax Act, 1957

M-2	Warrant of authorisation under sub-section (2) of section 37A of the Wealth-tax Act, 1957

M-3	Warrant of authorisation under sub-section (1) of section 37B of the Wealth-tax Act, 1957

N	Application for registration as a valuer under section 34AB of the Wealth-tax Act, 1957

O- 1	Report of valuation of immovable property (other than agricultural lands, plantations, forests, mines and quarries)

O- 2	Report of valuation for agricultural lands other than coffee, tea, rubber and cardamom plantations

O- 3	Report of valuation of coffee, tea, rubber and cardamom plantations

O- 4	Report of valuation of forests

O- 5	Report of valuation of mines and quarries

O- 6	Report of valuation of stocks, shares, debentures, securities, shares in partnership firms and business assets including goodwill

O- 7	Report of valuation of machinery and plant

O- 8	Report of valuation of jewellery

O- 8A	Statement of valuation of jewellery

O- 9	Report of valuation of works of art

O-10	Report of valuation of life interest, reversions and interest in expectancy

O-11	Certificate of quoted shares/debentures of a company

O-12	Certificate of the auditor on valuation of unquoted equity share of an investment company



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