CBDT revises monetary limits for filing appeals; issues measures to reduce litigation

IT : Section 268A of the Income-Tax Act, 1961 - Appeals And Revision - Filing of Appeal or Application For Reference by Income-Tax Authority - Revision of Monetary Limits For Filing of Appeals by the Department Before Income Tax Appellate Tribunal, High Courts And Supreme Court - Measures for Reducing Litigation

MCA allows processing of MGT-14 via straight through process mode

COMPANIES ACT, 2013 : Section 448, read with Section 447 of the Companies Act, 2013 - Punishment for False Statement - Clarification on Form Mgt-14 Through Straight Through Process (Stp) Mode

Excise duty is chargeable on MRP of fertilizers without considering amount of subsidy; FinMin clarif

EXCISE & CUSTOMS LAWS : Clarification on Valuation of Fertilizers for the Purpose of Levy of Excise Duty - Inclusion of Subsidy Component in yhe Assessable Value

[Indian Customs Tariff Notification] : Seeks to amend notification No. 10/2008 Customs, dated the 15th January, 2008 so as to delete tariff item 3903 19 90 in respect of CECA.

[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)

Notification

No. 17/2014-Customs

New Delhi, the 11th July, 2014

G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 10/2008-Customs, dated the 15th January, 2008 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 33(E), dated the 15th January, 2008, namely:-

In the said notification, in the TABLE, serial number 169 and the entries relating thereto shall be omitted.

[F.No. 334/15/2014-TRU]

(Pramod Kumar)

Under Secretary to the Government of India

Note.- The principal notification No. 10/2008-Customs dated the 15th January, 2008 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 33(E), dated the 15th January, 2008 and last amended by notification No.50/2013-Customs, dated the 16th December, 2013 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (i) vide number G.S.R.779(E), dated the 16th December, 2013.

[Indian Customs Tariff Notification] : Seeks to amend notification No. 09/2012 Customs, dated the 09th March, 2012 so as to increase the variation levels in respect of re-import of cut and polished diamonds.

[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)

Notification

No. 16/2014-Customs

New Delhi, the 11th July, 2014

G.S.R. (E). - In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 9/2012-Customs, dated the 9th March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide G.S.R. 129 (E), dated the 9th March, 2012, namely:-

In the said notification, in condition (v), for the proviso, the following proviso shall be substituted, namely:-

“Provided that a variance not exceeding +_ 0.05 mm in diameter for round shape diamonds and +_ 0.07 mm in length and breadth for diamonds of other shapes and variance not exceeding +_ 1 cent in weight shall be allowed.”.

[F.No.334/15/2014-TRU]

(Pramod Kumar) Under Secretary to the Government of India

Note. - The principal notification No. 9/2012-Customs, dated the 9th March, 2012 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R.129 (E) dated the 9th March, 2012 and was last amended by notification No. 11/2013-Customs, dated the 1st March, 2013 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R.134 (E), dated the 1st March, 2013.