Daily Archives: July 23, 2016

SOP for handling AIR transactions without valid PAN

F.No. 225/193/2016/ITA.II Government of India Ministry of Finance Department of Revenue (CBDT) North Block, New Delhi dated the 22nd of July, 2016 To, All Principal Chief Commissioners of Income tax Subject: Issue of Standard Operating Procedure (‘SOP’) for handling AIR transactions without valid PAN – reg.- Sir/Madam Kindly refer to the above subject. Directorate of… Read More »

Reversionary Bonus on Rural Postal Life Insurance Policies declared

THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1] MINISTRY OF COMMUNICATION AND INFORMATION TECHNOLOGY (Department of Posts) (DIRECTORATE OF POSTAL LIFE INSURANCE) NOTIFICATION New Delhi, the 19th July, 2016 F. No. 5-1/2015-LI.— In exercise of powers conferred vide Rule 3 of Rural Post Office Life Insurance Rules (2011) and on the basis of Actuarial… Read More »

DD/PO for appeal/application fee must be valid for 60 days

F.No.14 /CESTAT/MISC/2013-14 CUSTOMS,EXCISE & SERVICE TAX APPELLATE TRIBUNAL, WEST BLOCK NO.2, R.K. PURAM,NEW DELHI-66 Dated 20/07/2016 CIRCULAR During receipt of Appeal/application in Central Registry, it has been noticed that the DD/PO, submitted towards registration fee, has only few days of validity left on the day of its submission. It may be appreciated that the DD/PO… Read More »

Impact of Brexit on the Indian economy.

Brexit Government has assessed the impact of Brexit on the Indian economy. Thus far, India has not only avoided adverse impacts, it has in fact emerged as a safe haven for investors around the world. For example, the rupee depreciated against the US dollar by around 1 per cent for one day post-Brexit referendum, while… Read More »

Indian Govt Steps to tackle Balck Money

Black Money There is no official estimation of the amount of black money stashed away abroad. Various non-governmental organizations and economists in the past have indicated certain estimations of illicit financial flows out of the country. Such estimations appear to be based upon different sets of facts, assumptions, presumptions, etc. leading to widely varying inferences,… Read More »

Authorized Economic Operator (AEO) Programme of CBEC

Circular No. 33/2016-Customs F.No.450/179/2009-Cus.IV(Pt) Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs Room No.227-B, North Block,New Delhi. Dated: 22th July, 2016 To, All Chief Commissioners of Customs / Customs (Prev.) All Chief Commissioners of Customs & Central Excise. All Commissioners of Customs / Customs (Prev.). All Commissioners of… Read More »

Permission to pay service tax through cheque /non electronic modes

F.No 137/08/2013-Service Tax Government of India Ministry of Finance Department of Revenue Central  Board of Excise & Customs Service lax Wing New Delhi the 22nd July, 2016 Madam/Sir, Instruction Subject: Permission to pay service tax through non electronic modes Rule 6(2) of the Service Tax Rules, 1994 stipulate that while every assessee shall pay service… Read More »