Daily Archives: November 30, 2015

Steps taken by Government to Protect the Domestic Steel Industry

Steel Imports & The Steps Taken by the Government to Protect the Domestic Steel Industry             In a statement laid on the table of the Lok Sabha today the Minister of Steel and Mines Shri Narendra Singh Tomar said that there is no proposal to specifically restrict steel imports from Northern and Eastern countries. Steel… Read More »

Notification No. 135/2015-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) (Central Board of Excise and Customs) Notification No. 135/2015-CUSTOMS (N. T.) New Delhi, 30th November, 2015 9 Agrahayana, 1937 (SAKA) S.O…… (E).– In exercise of the powers conferred by sub-section (2) of section… Read More »

Preparation of Heritage Bye-Laws by India

Preparation of Heritage Bye-Laws National Monuments Authority (NMA) has so far not noticed any bye-laws for any protected monuments and protected area declared as of national importance. Preparation of heritage bye-laws for all the 3686 protected monuments and protected areas is under process. Since a number of agencies are involved in the process of preparing… Read More »

Export of Meat during last 3 years from India

As per Press release by Ministry of Commerce & Industry of Govt of India 30-November, 2015 There are 64 Abattoirs-cum-Meat Processing Plants/stand alone Abattoirs and 38 meat processing plants registered with Agricultural Processed Export Development Authority (APEDA) in the country at present. The quantity and value of meat exported from the country during each of… Read More »

India’s Ranking in Global Innovation Index

Ministry of Commerce & Industry of Govt of India 30-November, 2015               “The Global Innovation Index” (GII) is a publication brought out by Cornell University, INSEAD, and the World Intellectual Property Organization (WIPO) as co-publishers, and their Knowledge Partners. The Confederation of Indian Industry (CII) was their knowledge partner from India for the year… Read More »

Roadmap for the implementation of GST

Roadmap for the implementation of GST in India (Extract from REPORT OF THE SELECT COMMITTEE ON THE CONSTITUTION ONE HUNDRED & TWENTY SECOND AMENDMENT) BILL 2014 PRESENTED TO THE RAJYA SABHA ON 22nd July, 2015 Objective of Introducing the GST In international arena GST is known for its end user consumption tax. The broad objectives of… Read More »

Only actual Bad debts are allowed as deduction and not doubtful debts

IN THE ITAT LUCKNOW BENCH ‘B’ Kanpur Electricity Supply Co. Ltd. v. Deputy Commissioner of Income-tax-VI, Kanpur SUNIL KUMAR YADAV, JUDICIAL MEMBER AND A.K. GARODIA, ACCOUNTANT MEMBER M.A. NO. 27(LKW) OF 2015 IT APPEAL NO. 311(LKW) OF 2014 [ASSESSMENT YEAR 2004-05] SEPTEMBER  2, 2015 Arvind Shukla, Adv. for the Applicant. Smt. Pinki Mahawar, D.R. for… Read More »

Your 7 Transactions which goes to income tax department

Following are the transactions for which income tax department collect information through Annual Information Return (AIR)  under rule 114E Cash deposits aggregating to ten lakh rupees or more in a year in any savings account of a person maintained in that bank. Payments made by any person against bills raised in respect of a credit… Read More »

Key highlights of the 46th International Film Festival of India

Ministry of Information & Broadcasting of Govt of India on 30-November, 2015 The 46th International Film Festival of India, that began in Goa on November 20, draws to close today with a Closing Ceremony paying a musical tribute to the spirit of Cinema and screening of the Closing Film ‘The Clan’ from Argentina. Following are… Read More »