Bookmarks   Feedback   Annual Subscription   New User   Login  
Tax Management India .com   
   TMI - Tax Management India. Com   
AO cannot re-open assessment merely for non filing of ITR unless the total income is exceeding maximum amount which is not chargeable to tax    *    Excise Cenvat credit on Electricity Power bill    *    Applicability Of Service tax on Liquidated Damages    *    Employees sent on deputation to subsidiary/ associate companies (Service Tax)    *    GLOW SIGN AND HOARDING    *    Service tax exemption for transportation of life saving medicines    *    Regarding cenvat credit on service tax on rent a cab    *    Potato Chips as Namkeen    *    Central Excise Exemption of ₹ 150 Lakhs    *    Cenvat credit on water treatment plant    *    CENVAT CREDIT    *    Cenvat Credit - refund - export of services - The registration is not the sole criteria for granting refund, so long the other conditions are satisfied, refund shall be granted - Tri    *    CENVAT credit demo cars capital goods input nothing is demonstrated today that a demo car falls in any of the Chapters dealing with capital goods - credit cannot be allowed - Tri    *    Period of limitation - in case duty was required to be paid on the strips, the appellant was entitled to avail credit of duty paid on the granules, which would have neutralized the entire demand on the strips - in this Revenue neutrally background, there could be no malafide on the part of the appellant to evade duty - Tri    *    Validity of statutory provisions - Imposition of penalty on company and directors - he legislature while in view of such situation has granted discretion to the executive, at the same time, provided for sufficient guidelines and safeguards so that such discretion does not convert into arbitrary or discretionary exercise of powers - HC    *    Strengthening Our Debt Markets (Dr. Raghuram G. Rajan, Governor - August 26, 2016 - at Annual Day Address to Foreign Exchange Dealers Association of India, Mumbai)    *    Violation of Clause 49 of the Listing Agreement - whole Time Director chaired the Audit Committee Meeting - levy of penalty of ₹ 5 lac cannot be said to unreasonable or excessive - SAT    *    Tribunal was right in confirming the set-off of MAT Credit under Section 115JAA brought forward from earlier years against tax on total income including surcharge and education cess instead of adjusting the same from tax on total income before charging such surcharge and education cess - HC    *    TDS liability - period of limitation - It is true that the Court cannot legislate the Act, however, the Assessing Officer also cannot be given unfettered powers, which he can exercise even beyond the reasonable period of four years. - HC    *    Waiver or reduction of interest - Application u/s 220(2A) - It has also to be verified whether the default in payment of the amount was due to the circumstances beyond the control of the assessee and the assessee has cooperated with the enquiry. - CIT to reconsider the matter - HC    *    Merchandise Exports from India Scheme (MEIS) - Addition in Table 2 [containing ITC (HS) code wise list of products with reward rates] of Appendix 3B
Home News News and Press Release Month 1 2012 2012 (1)
← Previous Next →

Filing of Industrial Entrepreneurs Memorandum (IEM).

January 20, 2012
  • News

Press Information Bureau

Government of India

Ministry of Commerce & Industry

20-January-2012 11:33 IST

Filing of Industrial Entrepreneurs Memorandum (IEM)

Under the provisions of Press Note. 9 (1991 Series) dated 2nd August 1991, entrepreneurs are required to submit an Industrial Entrepreneurs Memorandum (IEM) in the prescribed form along with the prescribed fee for undertaking the manufacture of any article exempted from Industrial Licence in terms of this Ministry’s (Department of Industrial Policy & Promotion) notification No. 477 (E) dated 25.7.1991. Such a memorandum was also to be filed by industrial undertakings engaged in non-scheduled industries i.e. those not covered under the 1 (D&R) Act, 1951. On filing the memorandum with the requisite number of copies, entrepreneurs are given an acknowledgement of receipt.

It was clarified by Press Note. No. 22 (1991 Series) dated 24 the December, 1991 that the IEM was intended purely for statistical purposes and to conduct a limited post-facto check to see whether the proposed manufacturing activity requires an industrial licence or not. It was also clarified that the procedure was not in the nature of any registration involving scrutiny of the memorandum, etc.

Press Note No. 17 (1997 Series) dated 28.11.1997 further clarified that acknowledgement of the IEM, which is given on the spot on prima facie evidence of not attracting licensing provisions, cannot be construed as a clearance of approval to carry on an industrial activity contemplated in the IEM unless the provisions of statutes/regulations/notifications etc. issued by the Central or State Governments from time to time or any specific directions or Stay orders issued by the Court/Competent Authority relevant to such an activity, are also fully complied with or in no way contravened, as the case may be. Hence, it was stated that it is the responsibility of the entrepreneur to ensure that the manufacturing activity as specified in the IEM, does not come into conflict with other legal provisions or directions or standing orders. In case of doubt, the entrepreneurs were free to seek clarification/avail assistance of the Secretariat of Industrial Assistance (SIA).

In continuation of the position mentioned in the Press Notes 22 (1991 Series) & 17 (1997 Series), it is reiterated that the IEM is meant purely for statistical purposes and the acknowledgement is issued without any further scrutiny beyond checking that all the requisite columns in the Form are filled in, and the onus for compliance/non-contravention with all the rules regulations, guidelines, orders and directions etc., on the subject lie with the applicant.




← Previous Next →
what is new what is new

Advanced Search

Latest Updates




More Options


|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map || ||

© [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version