No Sales Tax on SIM cards – pre-paid and post-paid; recharge coupons; value added services – Andhra Pradesh High Court

Petrol may cost you more soon – Oil Companies Considering hike in petrol prices Posted: 01 Nov 2011 07:33 PM PDT State-owned oil companies are considering a Rs 1.82 per litre hike in petrol prices, as a fall in rupee has increased the cost of imports of the raw material (crude oil). Indian Oil, Hindustan Petroleum and Bharat Petroleum last hiked petrol prices... [[ This is a content summary only. Visit www.taxguru.in for full article ]] No Sales Tax on SIM cards – pre-paid and post-paid; recharge coupons; value added services – Andhra Pradesh High Court Posted: 01 Nov 2011 07:30 PM PDT BHARATI AIRTEL LTD V/S ASST.COMMISSIONER (CT)-II,BEGUMPET DIVISON & 5 OTHERS  (A.P. HIGH COURT) 1.       SIM cards, recharge coupon vouchers, mobile telephone rentals on post paid connections, value added services such as ring tones, music down... [[ This is a content summary only. Visit www.taxguru.in for full article ]] FEMA – Memorandum of Instructions governing money changing activities Posted: 01 Nov 2011 06:57 PM PDT In order to provide more flexibility, to authorised persons to decide the location of their branches, it has been decided to dispense with the criteria of 1:1 ratio between metro and non-metro branches. However, we expect branches to be diversified... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Relaxation in period to realise export proceeds from Export of Goods and Software Posted: 01 Nov 2011 06:54 PM PDT It has been decided, in consultation with the Government of India, to further extend by one year, i.e. from October 01, 2011 till September 30, 2012, the relaxation with respect to the period of realization and repatriation to India, of the amount... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Deferred Payment Protocols between Government of India and erstwhile USSR – A.P. (DIR Series) Circular No. 39 Posted: 01 Nov 2011 06:42 PM PDT A.P. (DIR Series) Circular No. 39 ttention of Authorised Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No.10 dated September 07, 2011, wherein the Rupee value of the special currency basket was indicated as... [[ This is a content summary only. Visit www.taxguru.in for full article ]] TRAI extends limit to 200 sms per day Posted: 01 Nov 2011 06:38 PM PDT Telecom Regulatory Authority of India, TRAI, has extended the 100 sms per day limit to 200 sms per day, per sim. Earlier, TRAI had restricted the number of commercial non-commercial sms that can be send from a sim, to 100. TRAI received... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Income Tax Officer and His Wife Sentenced In a Disproportionate Assets Case Posted: 01 Nov 2011 06:35 PM PDT The Special Judge for CBI cases, Delhi has sentenced Sh. Pramod Kumar Jain, the then Income Tax Inspector working in the Directorate of Income Tax(Exemption), Laxmi Nagar, District Centre, Delhi to undergo four years rigorous imprisonment with a... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Grant of DEPB against free Shipping Bills converted by the Customs Authorities Posted: 01 Nov 2011 06:21 PM PDT Policy Circular No. 44 (RE-2010)/2009-14 Conversion of free shipping bills to DEPB Shipping Bills were allowed by the Department of Revenue vide Customs Circular No.6/2003-Cus. dated 28.1.2003 whereby Commissioner of Customs were given powers to... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Official amendments to the Prasar Bharati (Broadcasting Corporation of India) Amendment Bill, 2010 Posted: 01 Nov 2011 06:17 PM PDT The Union Cabinet today approved the proposal of the Ministry of Information and Broadcasting for pursuing the Prasar Bharati (Broadcasting Corporation of India) Amendment Bill, 2010 pending in Rajya Sabha in Parliament for its enactment and also to... [[ This is a content summary only. Visit www.taxguru.in for full article ]] CBDT Issues Clarification Regarding Investigations Relating to Banking Information from Overseas Posted: 01 Nov 2011 06:16 PM PDT Following is the text of the clarification issued by Central Board of Direct Taxes, Department of Revenue, Ministry of Finance: "A section of the press has reported today that some investigations relating to banking information received from... [[ This is a content summary only. Visit www.taxguru.in for full article ]] China the Question of Necessity and Not Choices Posted: 01 Nov 2011 06:29 AM PDT All set to go with the EFSF proposal of surviving the Euro banks and economy. But the biggest question within the proposal is who will buy the bonds and how the process will be executed. Europe need bond buyers and its domestic natives don't have... [[ This is a content summary only. Visit www.taxguru.in for full article ]] European Banks Still Need Rescue Posted: 31 Oct 2011 02:12 PM PDT World market is happy with the recent funding mechanisms declared and agreed for the troubled European economies. Banks have been asked to absorb 50% of the pains of trouble assets. Another part of the funding will be provided by EFSF which will... [[ This is a content summary only. Visit www.taxguru.in for full article ]]