August 2009

Highlights of Foreign Trade Policy 2009-14

August 29, 2009

Miscellanea·RBI & FEMA·Service Tax & CBEC

Higher Support for Market and Product Diversification 1. Incentive schemes under Chapter 3 have been expanded by way of addition of new products and markets. 2. 26 new markets have been added under Focus Market Scheme (FMS). 3. Incentive available under FMS raised from 2.5% to 3%. 4. Incentive available

Corporate Laws: Recent News Snippets

August 27, 2009

Corporate Laws

MCA plans system in 2 months to detect fraud in early stages According to an official of the ministry of corporate affairs, who did not wish to be identified, a seven-member internal committee headed by an additional secretary of the ministry of corporate affairs (MCA) has been working to evolve

Direct Taxes: Recent News Snippets

August 26, 2009

Income Tax

New Draft Direct Taxes Code released As promised by the finance minister in his Budget Day speech in July, the New Draft Direct Taxes Code was released for public discussion on August 12. The stated intent is to fulfil the long-standing and ambitious plan of simplifying the country’s complex direct

Investment in Art – the hidden cost that hurts

August 26, 2009

Miscellanea

What pinches is the value you actually pay above the final price of a work of art. Let us for the moment ignore whether these are good times or bad times for buying art. Instead, let’s ask: What is the art you buy really worth? Or, put another way —

Gujarat VAT Pending Returns – deferment of new penalty provisions

August 26, 2009

Gujarat VAT & CST

Recently The VAT Department has issued one circular that if any Monthly, Quarterly or Annual Returns are pending since 01.04.2006, and if the dealer submits such pending returns on or before 30.09.2009, the Department will levy penalty as per old Rules i.e. Rs.100/- per month. After 30.09.2009, penalty will be

Gujarat VAT Amendments – Enacted w.e.f. 1-Aug-2009

August 4, 2009

Gujarat VAT & CST

As informed to you through our Circular dated 27-Jul-09, the Gujarat VAT (Amendment) Bill, 2009 (No. 18/2009) is enacted w.e.f. 1-Aug-09. In continuance thereof, your attention is further drawn to the following Amendments & Notifications: 1. Penalty for late submission of return is prescribed as under. (A) Penalty for Return

Highlights of Foreign Trade Policy 2009-14

Corporate Laws: Recent News Snippets

Direct Taxes: Recent News Snippets

Investment in Art – the hidden cost that hurts

Gujarat VAT Pending Returns – deferment of new penalty provisions

Gujarat VAT Amendments – Enacted w.e.f. 1-Aug-2009

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