Assortment of Amendments in Penal Provisions of Service Tax

Assortment of Amendments in Penal Provisions of Service Tax Posted: 18 Mar 2013 08:45 PM PDT Beware if you are the one illicitly holding the government revenue!!! Government is all set to severely punish the people contravening the provisions of Finance Act, particularly, when one collect the service tax and fails to deposit the same to government exchequer. Where the amount involved in... Financial Hardship Not Necessary for Stay of Demand Posted: 18 Mar 2013 07:30 PM PDT In considering whether a stay of demand should be granted, the Court is duty bound to consider not merely the issue of financial hardship if any, but also whether a strong prima facie raising a serious triable issue has been raised which would warrant a dispensation of deposit. That is a settled... Customs and Excise Offices to be open on 29th,30th & 31st March Posted: 17 Mar 2013 10:39 PM PDT CBEC has requested the Chief Commissioners of Central Excise & Customs to keep their offices open on 29th, 30th and 31st March and also to issue Trade Notices for the information of the Trade as it feels bulk of the Revenue is received at the end of the month. CBEC has also proposed to have... Non CTS cheques Valid till 31.07.2013, Banks not to demand PDC Posted: 17 Mar 2013 09:30 PM PDT All residual non-CTS-2010 cheques with customers will continue to be valid and accepted in all clearing houses [including the Cheque Truncation System (CTS) centers] for another four months up to July 31, 2013, subject to a review in June 2013. RBI initiates Scrutiny of ICICI, HDFC & Axis Bank Posted: 17 Mar 2013 06:30 PM PDT RBI initiates Scrutiny of Three Banks for Alleged KYC/AML Guidelines The Reserve Bank of India has initiated the process of carrying out comprehensive scrutinies covering both, Head Office and branches of three private sector banks, namely, ICICI Bank, HDFC Bank and Axis Bank. Apart from this, the... Debts due to lenders may be considered secured if assured by project authority in terms of Concession Agreement Posted: 17 Mar 2013 06:20 PM PDT It has been decided that in case of PPP projects, the debts due to the lenders may be considered as secured to the extent assured by the project authority in terms of the Concession Agreement, subject to the following conditions: Application for Patent Registration can be made online – Govt Posted: 17 Mar 2013 05:29 PM PDT Patent Filing Services The Section 5 of the Patents Act, 1970, through which the patent was restricted only to the methods or processes of manufacturing of medicines, has been omitted by the Patents (Amendment) Act, 2005. Consequently, the amended provisions of the Act allowed the product patent... Govt notifies New Copyright Rules 2013 Posted: 17 Mar 2013 05:27 PM PDT The Copyright Rules, 2013 has been notified by the Copyright Division, Department of Higher Education, Ministry of Human Resource Development on 14th March, 2013. The amendments to the existing provisions of the Copyright Act, 1957 and introduction of new provisions under the Copyright(Amendment)... Arbitration Mechanism through Stock Exchanges – Introduction of Automatic Process and Common Pool of arbitrators Posted: 17 Mar 2013 11:54 AM PDT SEBI has received inputs from investors regarding functioning of the arbitration mechanism at the Stock Exchanges. In light of which, you are advised to carry out the following changes in the arbitration mechanism.