Saturday, June 26, 2010

Changes in Personal Laws

Employees State Insurance - ESI Limit - Threshold limit increased to Rs.15,000 per month

Gratuity - Increased the threshold limit to Rs.10 lacs from Rs.3.5 lacs.

Latest in Central Excise

Notification 6/2010 dt.27.2.10
Provided further that if the capital goods, on which CENVAT Credit has been taken, are removed after being used, the manufacturer or provider of output services shall pay an amount equal to the CENVAT Credit taken on the said capital goods reduced by the percentage points calculated by straight line method as specified below for each quarter of a year or part thereof from the date of taking the CENVAT Credit
Notification 21/2010 dt.18.05.10
Provided further that where a manufacturer of final products has paid total duty of rupees ten lakh or more including the amount of duty paid by utilization of CENVAT credit in the preceding financial year, he shall file such declaration electronically


Notification 20/2010 dt.18.05.10

Provided that where an assessee has paid total duty of rupees ten lakh or more including the amount of duty paid by utilization of CENVAT credit in the preceding financial year, he shall file the said Annual Financial Information Statement electronically