Monthly Archives: January 2014

Clarification Regarding Divergent Practices of Assessment With Respect to Compounded Levy Scheme Applicable for Smokeless Tobacco Products

  Government of India, Ministry of Finance, Department of Revenue, Tax Research Unit vide its Circular No.  980/04/2014 dated 24th January 2014 clarified the following: Representations have been received from trade and industry that the field formations are following divergent … Continue reading

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Amendment in the Chewing Tobacco and Un-manufactured Tobacco Packing Machines (Capacity Determination and Collection of Duty) Rules, 2010 [03/2014-CE(N.T.)]

  Government of India, Ministry of Finance (Department of Revenue) vide its notification no. 04/2014-CE (NT) dated 24th January, 2014 hereby makes the following rules further to amend the Chewing Tobacco and Unmanufactured Tobacco Packing Machines (Capacity Determination and Collection of … Continue reading

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Amendment in Pan Masala Packing Machines (Capacity Determination and Collection of Duty) Rules, 2008 [03/2014-CE(N.T.)

  Government of India, Ministry of Finance (Department of Revenue) vide its notification no. 03/2014-CE (NT) dated 24th January, 2014 hereby makes the following rules further to amend the Pan Masala Packing Machines (Capacity Determination and Collection of Duty) Rules, 2008, … Continue reading

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Change in Rate of Duty in Compound Levy Scheme Applicable to Chewing Tobacco and Unmanufactured Tobacco

  Government of India, Ministry of Finance (Department of Revenue) vide its notification no. 02/2014-Central Excise dated 24th January, 2014 hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) … Continue reading

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Change in Rate of Duty in Compound Levy Scheme Applicable to Pan Masala and Pan Masala Containing Tobacco

  Government of India, Ministry of Finance (Department of Revenue) vide its notification no. 01/2014-Central Excise dated 24th January, 2014 hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) … Continue reading

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RBI : Clarification Regarding Prepaid Payment Instruments issued by Non-Banking Institutions

  Reserve Bank of India vide its notification no. RBI/2013-14/461 Dated January 24, 2014 issued to All Non Banking Financial Companies clarified the following: Non–banking institutions (NBIs) are allowed to issue prepaid payment instruments (PPIs) and collect money in this … Continue reading

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Conversion of Debt into Shares, Consent Level of Security Enforcement Actions and Permission to Acquire Debt from Other SC/RCs

  Reserve Bank of India vide its notification no. RBI/2013-2014/460 dated January 23, 2014 issued to The Chairmen/ Managing Directors /Chief Executive Officers of All registered Securitisation Companies/ Reconstruction Companies notified the following: Refer to “The Securitisation Companies and Reconstruction … Continue reading

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