Service Tax Notifications 51-58/10, 21-12-10

[TO BE PUBLISHED IN THE GAZZETE OF INDIA, EXTRAORDINARY, PART II,

SECTION 3, SUB-SECTION (i)]

Government of India

Ministry of Finance

(Department of Revenue)

Notification No. 51/2010 - Service Tax

New Delhi, the 21st December, 2010

G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby rescinds the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 02/2010- Service Tax, dated 27th February, 2010 published in the Gazette of India, Extraordinary, Part II, Section3, Sub-section (i) vide number G.S.R. 146 (E), dated 27th February, 2010, except as respects things done or omitted to be done before such rescission.

[F. No. 354/189/2010-TRU]

(VIKAS)

Under Secretary to the Government of India

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[TO BE PUBLISHED IN THE GAZZETE OF INDIA, EXTRAORDINARY, PART II,

SECTION 3, SUB-SECTION (i)]

Government of India

Ministry of Finance

(Department of Revenue)

Notification No. 52/2010 - Service Tax

New Delhi, the 21st December, 2010

G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby rescinds the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 17/2010- Service Tax, dated 27th February, 2010 published in the Gazette of India, Extraordinary, PartII, Section3, Sub-section (i) vide number G.S.R. 161 (E), dated 27th February, 2010, except as respects things done or omitted to be done before such rescission.

[F. No. 354/189/2010-TRU]
(VIKAS)
Under Secretary to the Government of India

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[TO BE PUBLISHED IN THE GAZZETE OF INDIA, EXTRAORDINARY, PART II, SECTION 3,

SECTION (i)]

Government of India

Ministry of Finance

Department of Revenue

Notification No. 53/2010 - Service Tax

New Delhi, the 21st December, 2010

G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 93 of the finance Act, 1994 (32 of 1994), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the taxable service referred to in item (v) of sub-clause (zzzze) of clause (105) of section 65 of the said Finance Act (hereinafter referred to as ‘such service’), for packaged or canned software (hereinafter referred to as ‘said goods’) from the whole of service tax, subject to the condition that-

(i) the value of the said goods domestically produced or imported, for the purposes of levy of the duty of Central Excise or the additional duty of customs leviable under sub-section (1) of section 3 of the Customs Tariff Act, 1975 (51 of 1975), if imported, as the case may be, has been determined under section 4A of the Central Excise Act 1944 (1 of 1944) (hereinafter referred to as ‘such value’); and

(ii) (a) the appropriate duties of excise on such value have been paid by the manufacturer, duplicator or the person holding the copyright to such software, as the case may be, in respect of software manufactured in India; or

(b) the appropriate duties of customs including the additional duty of customs on such value, have been paid by the importer in respect of software which has been imported into India;

(iii) a declaration made by the service provider on the invoice relating to such service that no amount in excess of the retail sale price declared on the said goods has been recovered from the customer.

Explanations.- For the purpose of this notification, the expression,-

(i) “appropriate duties of excise” shall mean the duties of excise leviable under section 3 of the Central Excise Act, 1944 (1 of 1944) and a notification, for the time being in force, issued in accordance with the provision of sub-section (1) of section 5A of the said Central Excise Act; and

(ii) “appropriate duties of customs” shall mean the duties of customs leviable under section 12 of the Customs Act, 1962 (52 of 1962) and any of the provisions of the Customs Tariff Act, 1975 (51 of 1975) and a notification, for the time being in force, issued in accordance with the provision of subsection (1) of section 25 of the said Customs Act.

[F. No. 354/189/2010-TRU]

(VIKAS)

Under Secretary to the Government of India

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[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUBSECTION (i)]

Government of India

Ministry of Finance

(Department of Revenue)

Notification No.54/2010-Service Tax

New Delhi, the 21st December, 2010.

G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), notification No. 24/2009- Service Tax, dated the 27th July, 2009, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 551(E), dated the 27th July, 2009, namely :-

In the said notification, for the words “management, maintenance or repair of roads”, the words “management, maintenance or repair of roads, bridges, tunnels, dams, airports, railways and transport terminals” shall be substituted.

[F.No.137/80/2010-CX.4]

(VIKAS)

Under Secretary to the Government of India

Note.- The principal notification No. 24/2009-Service Tax, dated the 27th July, 2009, was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 551(E), dated the 27th July, 2009.

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[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUBSECTION (i)]

Government of India

Ministry of Finance

(Department of Revenue)

Notification No.55/2010-Service Tax

New Delhi, the 21st December, 2010

G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the Finance Act), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.07/2010-Service Tax, dated the 27th February, 2010, published in the Gazette of India, Extraordinary Part II, Section 3, Sub-section(i), vide number G.S.R. 151 (E), dated the 27th February, 2010, namely:-

2. In the said notification in para 2, for the word and figures ‘January 2011’, the word and figures ‘April 2011’, shall be substituted.

[F. No. B-1/2/2010-TRU]

(VIKAS)

Under Secretary to the Government of India

Note.- The principal notification No. 07/2010-Service Tax, dated the 27th February, 2010, was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 151(E), dated the 27th February, 2010 and last amended vide Notification No.33/2010-Service Tax, dated the 22nd June,2010 was published vide number G.S.R. 539 (E) dated 22nd June,2010.

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[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUBSECTION (i)]

Government of India

Ministry of Finance

(Department of Revenue)

Notification No.56/2010-Service Tax

New Delhi, the 21st December, 2010

G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the Finance Act), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.08/2010-Service Tax, dated the 27th February, 2010, published in the Gazette of India, Extraordinary Part II, Section 3, Sub-section(i), vide number G.S.R. 152 (E), dated the 27th February, 2010, namely:-

2. In the said notification in para 2, for the word and figures ‘January 2011’, the word and figures ‘April 2011’, shall be substituted.

[F. No. B-1/2/2010-TRU]

(VIKAS)

Under Secretary to the Government of India

Note.- The principal notification No. 08/2010-Service Tax, dated the 27th February, 2010, was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 152(E), dated the 27th February, 2010 and last amended vide Notification No.34/2010-Service Tax, dated the 22nd June,2010 was published vide number G.S.R. 540 (E) dated 22nd June,2010.

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[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUBSECTION (i)]

Government of India

Ministry of Finance

(Department of Revenue)

Notification No.57/2010-Service Tax

New Delhi, the 21st December, 2010

G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the Finance Act), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.09/2010-Service Tax, dated the 27th February, 2010, published in the Gazette of India, Extraordinary Part II, Section 3, Sub-section(i), vide number G.S.R. 153 (E), dated the 27th February, 2010, namely:-

2. In the said notification in para 3, for the word and figures ‘January 2011’, the word and figures ‘April 2011’, shall be substituted.

[F. No. B-1/2/2010-TRU]

(VIKAS)

Under Secretary to the Government of India

Note.- The principal notification No. 09/2010-Service Tax, dated the 27th February, 2010, was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 153(E), dated the 27th February, 2010 and last amended vide Notification No.35/2010-Service Tax, dated the 22nd June,2010 was published vide number G.S.R. 541 (E) dated 22nd June,2010.

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[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUBSECTION (i)]

Government of India

Ministry of Finance

(Department of Revenue)

Notification No.58/2010-Service Tax

New Delhi, the 21st December, 2010.

G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the taxable services in relation to general insurance business provided under the Weather Based Crop Insurance Scheme or the Modified national Agricultural Insurance Scheme, approved by the Government of India and implemented by the Ministry of Agriculture, from the whole of service tax leviable thereon under section 66 of the said Act.

[F.No.137/80/2010-CX.4]

(VIKAS)

Under Secretary to the Government of India

Note.- The principal notification No. 24/2009-Service Tax, dated the 27th July, 2009, was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 551(E), dated the 27th July, 2009.

Amendments to the Equity Listing Agreement

SBI has amended following Clauses of the Equity Listing Agreement.

1. Clause 35 - Disclosure relating to shareholding pattern;
2. Clause 40A – Minimum public shareholding;
3. Clause 5A - Uniform procedure for dealing with unclaimed shares;
4. Clause 20 & 22- Corporate Announcement;
5. Clause 21 - Notice Period;
6. Clause 53 - Disclosures regarding agreements with the media companies;  
and has inserted clause Clause 54 – Maintenance of a website

Click here for the text of the circular CIR/CFD/DIL/10/2010.

Order relating to Price Waterhouse entites in the matter of Satyam Computer Services Limited

Click here for the text of the order.

Mobile Number Portability

Press Information Bureau

Government of India

Ministry of Communications & Information Technology

13-December-2010 18:05 IST

Mobile Number Portability

Telecom Service Providers have made necessary changes in their network for implementation of Mobile Number Portability (MNP). The MNP has been launched in Haryana on 25-11-2010 and it is to be launched in rest of the country w.e.f. 20-01-2011.

The guidelines for criteria to be adopted for MNP services have laid down by TRAI (Telecom Regulatory Authority of India). The consumers will have the choice of selecting their Telecom Service Provider (operator) without changing their number, provided a minimum period of 90 days has elapsed after subscription to the mobile service of the current service provider. For change of service provider i.e. porting, a subscriber has to send a SMS (short message service) from the number he wishes to be ported, to number 1900 whereby a Unique Porting Code (UPC) will be received on SMS from his current service provider. The subscriber will need to apply in the prescribed application form to the chosen new service provider quoting the UPC which will act as a reference while filling up the application form with new service provider. The new service provider will then take action to get the required process completed to enable the subscriber to get connected to his network. Porting has to be completed within 7 working days. TRAI has put a ceiling of Rs. 19/- on porting charges which the new service provider may collect from the subscriber. Post-paid subscribers before making the porting request, have to make sure that their last bill has been paid failing which the request for change to new service provider shall be rejected. In the case of pre-paid subscriber any balance amount left will not be carried forward when the number is transferred to the new service provider.

This information was given by the Minister of State for Communications & Information Technology, Shri Sachin Pilot in written reply to a question in Lok Sabha today.

SP/AS

CBDT - INSTRUCTION NO. 8/2010 and INSTRUCTION NO. 9/2010

Section 200 of the Income-tax Act, 1961 - Deduction of tax at source - Duty of person deducting tax - Instruction regarding parameters for processing of E-TDS Returns

INSTRUCTION NO. 8/2010 [F.NO. 275/73/2009-IT(B)], DATED 8-12-2010

In the present system of processing of e-TDS returns, the returns are processed online and mismatch report showing defaults on various accounts is generated. Based on this mismatch report, the assessing officers issue show-cause notices to the deductors and take follow up actions.

2. It has come to the notice of the Board that substantial number of TDS returns are pending where the deductee-wise default on account of short deduction of tax is less than Rs. 10.

3. This issue has been considered by the Board and it has been decided that:

(i) where the default on account of short deduction is less than Rs.10 for each deductee, the demand is round off to zero; and

(ii) after considering (i) above, deductor-wise demand/default, if any, of Rs.100 or less will also be ignored for further action.

4. However, the DDOs in such cases may be warned to be careful in future so as to ensure that they do not become habitual in short deduction of tax.

5. Earlier Instruction No. 11/2007, dated 18-12-2007 issued under F. No. 385/56/2007-IT(B) on the subject stands superseded by this instruction.

6. These instructions shall apply to all TCS/TDS cases under all Direct Tax Enactments. These instructions will come into force immediately.

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Section 143 of the Income-tax Act, 1961 - Assessment - General - Clarification regarding processing of ITR-1 and ITR-2 returns - Credit for tax deducted at source for A.Y. 2009-10

INSTRUCTION NO. 9/2010 [F. NO. 225/25/2010/IT (A-II)], DATED 9-12-2010

1. Reference may be made to Board’s Instruction No. 7, dated 16-8-2010 in which it has been stated, inter alia, that in cases where the return is filed in ITR-1 and ITR-2 for the A.Y. 2009-10, and where the TDS claim does not exceed Rs. three lakh and where the refund computed does not exceed Rs. Twenty five thousand, the TDS claim of the taxpayer shall be accepted at the time of processing of the returns provided the TDS payment reported in AS-26 is more than Rs. zero.

2. Board has reconsidered the above instruction and it has been decided to increase the limit of TDS claim from Rs. three lakh to Rs. four lakh as was applicable for the A.Y. 2008-09. It is further clarified that if the limit of Rs. four lakh, or Rs.25,000 is exceeded in case of a return filed in ITR-1 and ITR-2 or there is nil matching with AS-26 statement, the credit should be allowed by the Assessing Officer after make ‘due verification’. This verification may be done in the same manner as was being done in the earlier years.

3. This may be brought to the notice of all the Assessing Officers in your region for immediate compliance.

Easy Exit Scheme, 2011

In order to give an opportunity to the defunct companies, for getting their names strike off from the Register of Companies, the Ministry had launched a Scheme namely, "Easy Exit Scheme, 2010" under Section 560 of the Companies Act, 1956 during May-Aug, 2010. A large number of companies availed this scheme. However, on huge demands from corporate sector, the Ministry has decided to re-launch the Scheme as, "Easy Exit Scheme, 2011" under Section 560 of the Companies Act, 1956. 

 Details of the scheme are given in the General Circular No. 6 /2010.  

Submission of Balance sheet and Profit and Loss Account - NBFCs

RBI/2010-11/295

DNBS.PD/ CC.No. 204 / 03.05.002 /2010-11 December 1, 2010

All NBFCs

Dear Sir,

Submission of Balance sheet and Profit and Loss Account

In terms of para 12 of both the Non-Banking Financial (Deposit Accepting) Companies Prudential Norms Directions, 2007 and Non-Banking Financial (Non-Deposit Accepting) Companies Prudential Norms Directions, 2007, every NBFC shall prepare its balance sheet and profit and loss account as on March 31 every year and extension of date of balance sheet requires prior approval of RBI. Further in terms of para 15 of the above Directions, all NBFCs are required to submit a certificate from Statutory Auditor with respect to the position of the company as on March 31st every year within one month from the date of finalization of the balance sheet and in any case not later than December 30th of that year.

2. While emphasizing that the certificate from Statutory Auditor shall be submitted to RBI within one month from the date of finalization of the balance sheet, it is also advised that all NBFCs shall finalise their balance sheet within a period of 3 months from the date to which it pertains. For eg: balance sheet as on March 31st of an year shall be finalized by June 30th of the year.

3. A copy each of amending Notifications No.DNBS.217/CGM(US)-2010 and Notification No.DNBS.218/CGM(US)-2010 both dated December 1, 2010 is enclosed.

Yours sincerely,

(Uma Subramaniam)

Chief General Manager-in-Charge

Encl: As above