Fwd: TaxGuru.in : Legal & Tax Updates

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From: LEGAL & FINANCIAL UPDATES FROM TAX GURU <info@taxguru.in>
Date: Sat, Dec 4, 2010 at 10:10 AM
Subject: TaxGuru.in : Legal & Tax Updates
To: palashbiswaskl@gmail.com

TaxGuru.in : Legal & Tax Updates

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• VAT Rate Changes In Chandigarh And West Bengal
• CBI Website Hacked
• Government Losing 100 Crore A Day Due To Stoppage Of Production By Cigarette Companies
• If A Product Is Marketable And Has A Shelf Value It Is Liable To Excise Duty- SC
• Cab Operators In Gurgaon And NCR Under Government Authorities Scanner For Suspected Service Tax Evasion
• Interest On Loan Paid By Foreign Company To Carry Out Operation In India Is Allowable
• Government Identifies Four More Cross Border Merger And Acquisition Deals Like Vodafone
• CVC Disposed Of 830 Cases In October 2010 Major Penalty Proceedings Recommened Against 71 Officers
• SEBI Unified Platform For Electronic Reporting And Dissemination
• All Eight Accused In Bribe-for-loan Scam Get Bail
• Government Plans Tougher Norms For Public Sector Enterprises Board PSEB
• CVC Sets Up Anti-corruption Hotline
• Views Solicited On SEBI S Committee Report On Review Of Ownership And Governance Of Market Infrastructure Institutions
• RBI Governor Pitches For Streamlining Banking Regulations As Some Provisions Are Confusing
• Indian Banks Well Capitalised And Can Comfortably Adjust To Basel III Norms
• Seeks To Provide Provisional Assessment Of Import Of Bus And Truck Radial Tyres Exported By Certain Companies Of China PR
• Prohibition On Export Of Pulses - Exemption For Export Of 60 MTs Of Pulses To The Republic Of Maldives
• FCRA NGO

VAT Rate Changes In Chandigarh And West Bengal Posted: 04 Dec 2010 01:08 AM PST Chandigarh VAT rate change nbsp Effective 26 October 2010 the basic rates of VAT in Chandigarh has been enhanced as mentioned below nbsp nbsp Particulars Rate up to 25 October 2010 R [[ This is a content summary only. Visit www.taxguru.in for full article ]]

CBI Website Hacked Posted: 04 Dec 2010 01:04 AM PST On a day when India s premier investigating agency Central Bureau of Investigation CBI is swamped with the investigation of major corruption cases in a major embarrassment its website has been hacked nbsp People who logged on t [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Government Losing 100 Crore A Day Due To Stoppage Of Production By Cigarette Companies Posted: 04 Dec 2010 01:01 AM PST With cigarette manufacturing in the country coming to a halt over the use of pictorial health warnings on packets the government is staring at a potential loss of Rs 100 crore a day despite the fact that India remains among the lo [[ This is a content summary only. Visit www.taxguru.in for full article ]]

If A Product Is Marketable And Has A Shelf Value It Is Liable To Excise Duty- SC Posted: 04 Dec 2010 12:47 AM PST The Supreme Court has prescribed a bitter pill for pharmaceutical companies manufacturing vitamins for either marketing or use in other drugs If a product is marketable and has a shelf value it is liable to excise duty the [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Cab Operators In Gurgaon And NCR Under Government Authorities Scanner For Suspected Service Tax Evasion Posted: 04 Dec 2010 12:42 AM PST Cab operators based in Gurgaon and the NCR are under the scanner of government authorities for suspected service tax evasion worth crores of rupees According to city authorities Gurgaon has over 2 000 small and medium travel opera [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Interest On Loan Paid By Foreign Company To Carry Out Operation In India Is Allowable Posted: 04 Dec 2010 12:39 AM PST If a foreign company pays interest on loan for carrying out operations in India it will be allowed tax exemption under the Income Tax Act 1961 a tax tribunal has ruled This has put to rest uncertainties on application of Thin Cap [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Government Identifies Four More Cross Border Merger And Acquisition Deals Like Vodafone Posted: 04 Dec 2010 12:31 AM PST A few cases relating to cross border merger and acquisition deals have been identified for further examination by the Revenue Department These deals are being examined for possible tax implications Some of these cases are [[ This is a content summary only. Visit www.taxguru.in for full article ]]

CVC Disposed Of 830 Cases In October 2010 Major Penalty Proceedings Recommened Against 71 Officers Posted: 04 Dec 2010 12:27 AM PST The Central Vigilance Commission disposed of 830 cases during October 2010 referred to it for advice Of these 573 complaints were sent for necessary action ATR whereas 48 complaints were sent for investigation and report No actio [[ This is a content summary only. Visit www.taxguru.in for full article ]]

SEBI Unified Platform For Electronic Reporting And Dissemination Posted: 04 Dec 2010 12:26 AM PST SEBI has decided to set up a unified filing and dissemination system called SEBI Unified Platform for Electronic Reporting and Dissemination SUPER-D nbsp The unified filing system is inter alia expected to enable listed compan [[ This is a content summary only. Visit www.taxguru.in for full article ]]

All Eight Accused In Bribe-for-loan Scam Get Bail Posted: 04 Dec 2010 12:20 AM PST Nine days after their arrest in a cross-country housing loan scam a special CBI court today granted bail to all the eight accused including LIC Housing Finance CEO Ramchandran Nair after observing that their custody is not requir [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Government Plans Tougher Norms For Public Sector Enterprises Board PSEB Posted: 03 Dec 2010 11:48 PM PST The government plans to make bank executives accountable for their actions and decisions even after retirement It has been felt desirable to draft rules and regulations which would govern the conduct of Board level appointees in p [[ This is a content summary only. Visit www.taxguru.in for full article ]]

CVC Sets Up Anti-corruption Hotline Posted: 03 Dec 2010 11:45 PM PST THE appointment of CVC may be spewing controversies but the CVC as an institution has been doing its job On the occasion of Vigilance Awareness Week it set up a toll-free hotline number 1800-11-1180 nbsp For this purpose 10 dedic [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Views Solicited On SEBI S Committee Report On Review Of Ownership And Governance Of Market Infrastructure Institutions Posted: 03 Dec 2010 10:06 AM PST The Securities and Exchange Board of India SEBI constituted a Committee under the Chairmanship of Dr Bimal Jalan Former Governor Reserve Bank of India to examine issues arising from the ownership and governance of Market Infrast [[ This is a content summary only. Visit www.taxguru.in for full article ]]

RBI Governor Pitches For Streamlining Banking Regulations As Some Provisions Are Confusing Posted: 03 Dec 2010 10:05 AM PST Reserve bank governor D Subbarao today pitched for streamlining banking regulations saying some were confusing even though they served the banking system well On the existing arrays of laws in the banking sector he favoured a sing [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Indian Banks Well Capitalised And Can Comfortably Adjust To Basel III Norms Posted: 03 Dec 2010 10:01 AM PST The Reserve Bank of India RBI Governor Duvvuri Subbarao said on Friday Indian banks were well capitalised and can comfortably adjust to Basel III norms He also said that there was a strong case to review and recast banking legislatio [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Seeks To Provide Provisional Assessment Of Import Of Bus And Truck Radial Tyres Exported By Certain Companies Of China PR Posted: 04 Dec 2010 12:56 AM PST G S R 947 E Whereas in the matter of import of Bus and Truck Radial Tyres hereinafter referred to as the subject goods falling under item numbers 40112010 for tyres and 40131020 and 40129049 for tubes and flaps respec [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Prohibition On Export Of Pulses - Exemption For Export Of 60 MTs Of Pulses To The Republic Of Maldives Posted: 04 Dec 2010 12:54 AM PST Notification No nbsp nbsp 11 RE-2010 2009-2014 nbsp New Delhi the 3rd December 2010 nbsp S O E nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp In exercise of the powers conferred by Section 5 of the For [[ This is a content summary only. Visit www.taxguru.in for full article ]]

FCRA NGO Posted: 02 Dec 2010 05:04 PM PST FCRA NGO [[ This is a content summary only. Visit www.taxguru.in for full article ]]

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