Daily Archives: November 14, 2015

online business operation by company incorporated outside India makes it a foreign company

One of my client’s company is incorporated in Thailand having no physical place of business in India, but they have online business operating in India. Then will it be considered as Foreign Company?  Answer: According to section 2(42) of Companies Act 2013 foreign company means and include a Company or Body Corporate incorporated outside India having-… Read More »

Postponement of Information System Audit (Assessment Test) scheduled for 26th December 2015 to 23rd January 2016

12th November, 2015 IMPORTANT ANNOUNCEMENT Postponement of Information System Audit (Assessment Test) scheduled for 26th December 2015 to 23rd January 2016 It is hereby informed that due to unavoidable circumstances the Information System Audit (Assessment Test) scheduled for 26th December 2015 stands postponed to 23rd January 2016 The said examination will now be held on… Read More »

unloading the goods from tanker into drums is not manufacture

Tankers cannot be termed as bulk packs and therefore the activity of transferring the goods from tankers into smaller drums cannot be said to be covered by the said chapter note 10. CESTAT, MUMBAI BENCH JPB Chemical Industries (P.) Ltd. v. Commissioner of Central Excise, Belapur P.K. JAIN, TECHNICAL MEMBER AND S.S. GARG, JUDICIAL MEMBER… Read More »

Loan from Sugar Development Fund for conversion of existing ethanol plant into zero liquid discharge plant

MINISTRY OF CONSUMER AFFAIRS, FOOD AND PUBLIC DISTRIBUTION (Department of Food and Public Distribution) NOTIFICATION New Delhi, the 9th November, 2015 G.S.R..847(E).—In exercise of the powers conferred by sub-section (2) of section 4 read with sub-section (2) of section 9 of the Sugar Development Fund Act, 1982 (4 of 1982), the Central Government hereby makes the… Read More »

Amendment in Para 2.90 (d) of HBP 2015-2020 ,agencies desirous of enlistment submit application to DGFT

TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART-I, SECTION-I GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF COMMERCE DIRECTORATE GENERAL OF FOREIGN TRADE PUBLIC NOTICE NO.45/2015-2020 NEW DELHI, DATED THE 9 November, 2015 Subject: Amendment in Para 2.90 (d) of HBP 2015-20. In exercise of powers conferred under paragraph 2.04 of… Read More »

Swachh Bharat Cess NOTIFICATION No 25/2015 Service Tax for persons liable to pay Service tax under rule 6

[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) New Delhi, the 12th November, 2015 NOTIFICATION No. 25/2015-Service Tax 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,… Read More »

Notification No 108/2015 CUSTOMS (N. T.) Fixation of Tariff Value of Edible oil, Brass, Poppy seed, Areca nut, gold and Sliver

[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) (Central Board of Excise and Customs) Notification  No. 108/2015-CUSTOMS (N. T.) New Delhi, 13th November, 2015 18 Kartika, 1937 (SAKA)  S.O. … (E).– In exercise of the powers conferred by sub-section (2) of… Read More »

Draft Exposure on GUIDELINES ON “PRODUCT FILING PROCEDURES FOR GENERAL INSURANCE PRODUCTS

Ref:IRDAI/F&U Guidelines/2015 Date:13-11-2015 Draft Exposure on GUIDELINES ON “PRODUCT FILING PROCEDURES FOR GENERAL INSURANCE PRODUCTS The current guidelines on file and use requirement for general insurance products have been in operation since September, 2006. These guidelines were issued when general insurance business was de-tariffed. The guidelines on file and use requirements for general insurance products… Read More »

Committee on Motor Dealer payouts on motor insurance business

Ref:IRDA/NL/ORD/CMT/199/11/2015 Date:13-11-2015 Constitution of Committee on Motor Dealer payouts on motor insurance business The Authority proposes to bring clarity and transparency in payouts made to the auto dealers by the insurers for getting motor insurance business. Therefore, the Authority hereby constitutes a Committee consisting of the following members. SN Name Entity Position 1 Mr. Suresh… Read More »