Bad News for NDT-Delhi High Court decides to hear paternity suit against Tiwari filed by Rohit Shekhar, who claims that he is biological son of ND Tiwari Haryana Assembly okays Special Economic Zone (Amendment) Bill, 2010, which seeks to provide for refund of stamp duty on registration of land collected from developers of SEZs in the state before notification of SEZ Microsoft loses 106 million dollar Patent verdict Sensex hits 17500 Points in early trading FM says inflation may hit double digit in March Authority for Advance Ruling rules the payments made to ABB Research Ltd., Zurich towards the applicant's share of the cost incurred in respect of R&D activities are not liable to be taxed under the Income Tax Act, 1961 as business income in the absence of permanent establishment in India, having regard to Art.7 of the Tax Treaty- Nor can it be subjected to tax as royalty or fees for technical services under Article 12 of the Treaty-AIT-2010-94-AAR Tariff Value for import of Brass Scrap is 3801 and for poppy seeds 4256-Customs Non-Tariff Notification No. 20 No approval for procurement of service “Rental” of immovable property for office outside the Special Economic Zone/FTWZ can be given-SEZ Instruction No. 49 on Clarifications on FTWZ issues Consolidated list of default authorized operations which can be undertaken by the developer/approved co-developer by default from the date of notification-SEZ Instruction No.50 Himachal Government hikes VAT from 4 per cent to 5 per cent on all items, except edible oils and foodgrains Authority for Advance Ruling rules no capital gains accrued or arose at the time of conversion of partnership firm into a private limited company under Part IX of the Companies Act and therefore, notwithstanding the non-compliance with clause (d) of proviso to Section 47(xiii) of the Income Tax Act, by reason of premature transfer of shares, the said company is not liable to pay capital gains tax-AIT-2010-93-AAR Authority for Advance Ruling rules if the purchasers are non-residents other than the applicant, the applicant is liable to pay tax in India on the amount received by it for the support services rendered through the branch office in India-AIT-2010-92 -AAR Jurisdiction of Dispute Resolution Panel-Income Tax Order No.3 Employment of washing process in the manufacture of agglomerates etc from imported plastic waste and scrap-SEZ Instruction No.48 Haryana Government imposes surcharge ranging from 0.25 per cent to 0.7 per cent on VAT Service Tax Notification No. 17/2010 which exempts the taxable service providing packaged or canned software, intended for single use and packed accordingly amended-Service Tax Notification No.18 Procurement, Import and Export of Prohibited and Restricted Goods by SEZ Units-SEZ Instruction No. 47 Authority for Advance Ruling rules the amounts received/receivable by Technopromexport from NTPC under contract for Offshore supply of all plant and equipment including mandatory spares are not liable to tax in India under the provisions of the Income-tax Act, 1961 and DTAA between India and Russia-AIT-2010-79-AAR

JUDGMENTS

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CUSTOMS

exchange rate

SERVICE TAX

INCOME TAX

VAT

FINANCE ACTS

FINANCE BILLS

EOU STPI

SEZ

DGFT

RBI

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To be published in Part II, Section 3, Sub-section (i) of the Gazette of India, Extraordinary,

dated 01.08.2006.

10,Sravana, 1928 (Saka).

New Delhi, dated the 1^st August, 2006.

10, Sravana, 1928 (Saka).

Notification No.17/2006-Central Excise (N.T.)

G.S.R. (E) – In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944) read with clause (b) of sub-rule (2) of rule 12 of the Central Excise Rules, 2002 and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 35/2004-Central Excise (N.T.) dated the 1^st November 2004, G.S.R. 725(E) dated the 1^st November 2004, the Central Government, being satisfied that it is necessary and expedient in the public interest so to do, hereby exempts the following assessee or class of assessee from the operation of clause (a) of sub-rule (2) of rule 12 of the said Central Excise Rules, namely:-

(i) assessee who paid duty of excise less than one hundred lakh rupees from account current during the financial year to which Annual Financial Information Statement relates;

(ii) Indian Ordnance Factories, Department of Defence Production, Ministry of Defence.

(Rahul Nangare)

Under Secretary (CX-6&8)

F.No. 201/35/2006-CX-6