July 11, Centre issues show cause notice to nearly 6000 associations for cancellation of FCRA registration

Size: px
Start display at page:

Download "July 11, Centre issues show cause notice to nearly 6000 associations for cancellation of FCRA registration"

Transcription

1 July 11, 2017 Centre issues show cause notice to nearly 6000 associations for cancellation of FCRA registration Centre has issued show cause notice to five thousand 922 associations for cancellation of FCRA registration. Home Ministry said, in spite of sufficient and adequate notice, these associations have not uploaded their annual returns for three or more than three years within the stipulated time given in the notice. The Ministry yesterday asked them why their registration may not be cancelled for failure to upload their Annual Returns under the Foreign Contribution (Regulation) Act. EESL to invest ` 11,000 cr in Tamil Nadu: Piyush Goel Union Minister for Power Piyush Goel has said the Central Public Sector Unit Energy Efficiency Services Limited will invest 11,000 crore rupees in Tamil Nadu over the next three years. He reviewed the power sector projects in the state in Chennai yesterday along with his state counterpart Mr Thankamani. Later, he told the press, the scheme of giving solar pumps for farming will be extended to cover the whole country soon. Mr Piyush observed that the UDAY scheme has enabled the Tamil Nadu discom to reduce its debt burden from nearly 14-thousand crore rupees in to 3783 crore rupees last year. 1

2 Supreme Court vacates stay on counselling and admissions in IITs through JEE 2017 The Supreme Court today vacated the stay on counselling and admission in IITs through JEE The apex court also asked high courts not to interfere in petitions regarding counselling and admission to IITs to avoid any confusion. The Court asked the IITs to give undertaking that such mistakes in question papers that forced the litigation will not recur and no situation to award bonus marks will arise in future. Attorney General K K Venugopal, representing IITs, said such situation will not arise again. Earlier, the apex court had restrained the process till further orders on a petition citing errors in one set of question papers. MoHUA is the new name for urban development & housing ministry The government has merged the ministries of urban development, and housing and urban poverty alleviation on 7th July involved in policy making in urban areas to form the Ministry of Housing and Urban Affairs. This is third time the ministries have been merged. Venkaiah Naidu heads the ministries of urban development, and housing and urban poverty alleviation. In 1952, they were one ministry which was known as the Ministry of Works, Housing and Supply. They were demerged in 1999, merged the next year and bifurcated again in With this merger, the government now has 51 in 2004, and the number was 42. The first government in independent India had just 17 ministries. Government proposes to increase urban reform incentive fund, to ` 3000 crores. 2

3 Centre clears decks for Dhirubhai Ambani Aerospace Park at Mihan The centre has cleared the decks for the Reliance Aero structure proposal for the development of the Dhirubhai Ambani Aerospace Park with related infrastructure facilities and services at Mihan SEZ (Nagpur) on 10th of July It has been cleared by the Board of Approval (BoA) for special economic zone. It comes under the Ministry of Commerce. The Dhirubhai Ambani Aerospace Park (DAAP) at Mihan spread over 289 acres and will become the largest green field aerospace park in the country. In the first phase, development will be spread over 104 acres and the second phase will cover an additional area of 185 acres. The construction at the aerospace park is expected to start by end of the month with production starting in the first quarter of Govt to organise global food fair in November 2017 to boost food sector The government is going to organise a global food fair in November The Food Fair will be organized to provide a platform to Indian farmers and manufacturers so that they can showcase their products and explore partnerships with foreign companies. The three-day World Food India 2017 is being organised on November 3-5 by the Food Processing Ministry. The industry body CII will be an event partner. This event will provide a big boost to food processing sector as well as farmer s income. It is for the first time that such platform is being provided where farmers to manufacturers to retailers will showcase their products and innovations. Through this platform the farmers can explore business opportunities with foreign companies. Foreign food companies would also explore how and with whom they want to 3

4 partner in India. The World Food India is aimed at creating India a Global Food Factory and Global Food Retail Market. Gulf Dispute: US Secy of State Rex Tillerson to visit Kuwait to discuss situation Close on the heels of the British Foreign Secretary Boris Johnson s visit to the Middle East, it is now the US Secretary of State Rex Tillerson who is on a hopping trip to Kuwait, Qatar and Saudi Arabia to discuss ongoing efforts to resolve the Gulf dispute. A statement from the US State Department said that at the invitation of the Emir of Kuwait, the Secretary is travelling to Kuwait to meet with senior Kuwaiti officials to discuss issues involving the month long tension in the Arab region over the Qatar issue. Govt increases import duty on sugar to 50% to support domestic prices Government has increased import duty on sugar to 50 per cent from 40 per cent, to restrict cheap inward shipments and maintain domestic prices. Food Ministry had proposed increase in import duty on the grounds that fall in local prices will affect millers' capacity to pay cane dues to growers. Finance Ministry in a notification said, that import duty on sugar has been increased to 50 per cent with immediate effect and without an end date. 4

5 Finance Minister Arun Jaitley launches new tax payer service module 'Aaykar Setu Finance Minister Arun Jaitley on the 10th July launched a new tax payer service module called Aaykar Setu. It compiles various tax tools, live chat facility, dynamic updates, and important links to various processes within the Income Tax Department in a single module. Speaking on the occasion, Mr Jaitley said that this e-initiative would not only provide better taxpayer services but would also help in reducing the direct physical interface between assesses and tax assessing authorities. "Work that an average citizen has with the income tax department as an assessee, he can discharge it without any external help, sitting at home himself. It reduces the interface between the department, the assessing officers and the assessee in terms of a physical interface. Mr. Jaitley stressed on the government s commitment towards continuously upgrading tax payer services. Gifts upto ` 50,000 to employees out of purview of GST Government today clarified that gifts worth up to 50 thousand rupees by an employer to its employees as also free membership of clubs, health and fitness centres will not attract the Goods and Services Tax (GST). Also, the services by an employee to the employer in the course of or in relation to his employment are outside the scope of the new indirect tax regime. However, gifts above 50 thousand rupees are subject to GST, when made in the course or furtherance of business. In a 5

6 statement, Finance Ministry said, the free housing as part of cost-to-company package will also not attract any tax under GST. India to import crude oil from US for first time India will be going to import crude oil from US and the shipment is expected to touch Indian shores in October for the first time in history. It has been announced on 10th of July IOC Director (Finance) A K Sharma has said that India has bought 2 million barrels of crude oil from North America comprising 1.6 million barrels of US Mars crude and 400,000 barrels of Western Canadian Select. US Mars is a heavy, high-sulphur grade which will be processed at IOC s newest refinery at Paradip in Odisha. According to ministry it has been said that Even after including the shipping cost, buying US crude proved to be very cost competitive to India. Sharma also added that the company will buy more crude from the US if the market conditions remain favourable for such purchases. IOC had to take special permission from the shipping ministry for importing crude from the US. Union Bank gets new Chairman Kewal Handa has been appointed Chairman and part-time non-official Director of Union Bank of India. Handa is a qualified Management Accountant and Company Secretary and holds a Master s degree in Commerce. He has also completed IIM-Ahmedabad s Senior Management Development Programme. Handa was Managing Director of 6

7 Pfizer India from 2005 to He was also Managing Director of Wyeth from 2009 to Handa has experience in finance, strategy, business development, mergers and acquisitions, banking and corporate affairs, among others. Centre to clear Amazon's $500 mn investment proposal The Centre has decided to approve US retail giant Amazon s proposal to invest $500 million in food retail sector in India. The Department of Industrial Policy & Promotion (DIPP) the nodal body for the retail sector at a recent meeting decided to give its nod for Amazon s proposal, a government official told Business Line. A formal letter from the Commerce & Industry Minister, Nirmala Sitharaman, issuing the permission to Amazon to start food retailing is expected soon, the official added. Amazon had applied for permission to bring in FDI into the food retail sector a few months ago, but the proposal got held up because of the decision to dismantle the Foreign Investment Promotion Board that cleared FDI proposals that had to be routed through the government. Mother Teresa s Blue-Bordered Sari declared an Intellectual Property Mother Terasa s blue border sari which worn by nuns of Missionaries of Charity was recognised as Intellectual Property of Missionaries of Charity on September 4, 2016, the day the Mother Teresa was canonized. The Trade Marks Registry, Government of India, has granted the registration of the trade mark for that pattern of the blue border of sari. After 7

8 a series of strict legal proceedings, it was granted. This is the first time that a uniform has been made intellectual property. Crypto currency guru Amit Bhardwaj launches e-book Amit Bhardwaj, the founder of Amaze Mining & Research Limited, has launched his third e- book Crypto currency for Beginners in the series, after Crypto currency trading for Beginners and Crypto currency mining for Beginners. Crypto currency for Beginners provide context and clarity on crypto currencies. Block chain and crypto currencies are set to transform the world with their efficient solutions. This book make readers can realise that block chain is just like the internet or a motorbike. The book empowers readers with requisite knowledge of the concept of block chain. Sindhu bags Sportsperson of the Year award During the Maruti Suzuki Sportsperson of the Year Charity Gala Awards Rio Olympics silver medallist P V Sindhu was bagged with the Sportsperson of the Year award on 8th of July P Gopichand (Sindhu s coach) received the Coach of the Year award and Sikh Milkha Singh was given the Living Legend of the Year award. Young India cricketer K L Rahul was awarded with Game changer of the Year award. The 2008 Beijing Olympics gold medallist Abhinav Bindra was given the Lifetime Achievement Award. 8

March 28, country. It would display insects preserved as specimens as also live ones depicting their

March 28, country. It would display insects preserved as specimens as also live ones depicting their March 28, 2018 India s first insect museum opened in Tamil Nadu A Rs 5 crore insect museum with the state-of-theart amenities was unveiled by Tamil Nadu Chief Minister K Palaniswamy at the Tamil Nadu Agricultural

More information

Background note Special Economic Zones in India

Background note Special Economic Zones in India Background note Special Economic Zones in India Introduction: India was one of the first in Asia to recognize the effectiveness of the Export Processing Zone (EPZ) model in promoting exports, with Asia

More information

Budget 2017 May Bring More Tax Pain For Digital Transactions

Budget 2017 May Bring More Tax Pain For Digital Transactions s Budget 2017 May Bring More Tax Pain For Digital Transactions by Payaswini Upadhyay Updated on December 8, 2016, 4:49 pm December 8, 2016, 3:31 pm After taxing Indian advertising on foreign digital platforms

More information

INDIA DIGEST. A Newsletter from Embassy of India, Paramaribo. India-US defence, strategic ties get fillip as Hagel meets Modi

INDIA DIGEST. A Newsletter from Embassy of India, Paramaribo. India-US defence, strategic ties get fillip as Hagel meets Modi Issue no. 5 August, 2014 INDIA DIGEST A Newsletter from Embassy of India, Paramaribo India-US defence, strategic ties get fillip as Hagel meets Modi Defence and strategic cooperation between India and

More information

Hope to Resolve Deadlock over GST by April: Arun Jaitley

Hope to Resolve Deadlock over GST by April: Arun Jaitley GST HEADLINES January 12, 2017 Govt Guarantee for GSTN's Rs 550-Crore Loan from IDFC [Source: Business Standard] Budget 2017 Likely to Outline GST Details, Rollout Date [Source: Moneycontrol] Hope to Resolve

More information

SURF EASY WITH SARFAESI

SURF EASY WITH SARFAESI [2017] 78 taxmann.com 313 (Article) [2017] 78 taxmann.com 313 (Article) SURF EASY WITH SARFAESI RITUNJAY GUPTA Associate, J. Sagar Associates KUNAL MIMANI Associate, J. Sagar Associates 'Ease of Doing

More information

Daily Current Affairs Capsule 20 th January 2019

Daily Current Affairs Capsule 20 th January 2019 Changing the way of learning Daily Current Affairs Capsule 20 th January 2019 1. 2nd World Integrated Medicine Forum 2019 Union Minister of State (Independent Charge) for AYUSH Shri Shripad Yesso Naik,

More information

(GROWTH AND SCOPE OF GEMS AND JEWELLERY INDUSTRY IN INDIA)

(GROWTH AND SCOPE OF GEMS AND JEWELLERY INDUSTRY IN INDIA) YES www.marketmagnify.com (GROWTH AND SCOPE OF GEMS AND JEWELLERY INDUSTRY IN INDIA) INTRODUCTION OF GEMS AND JEWELLERY SECTOR- India s gems and jewellery sector has been contributing around 13-15 per

More information

RESERVE BANK OF INDIA FOREIGN EXCHANGE DEPARTMENT CENTRAL OFFICE MUMBAI

RESERVE BANK OF INDIA FOREIGN EXCHANGE DEPARTMENT CENTRAL OFFICE MUMBAI RESERVE BANK OF INDIA FOREIGN EXCHANGE DEPARTMENT CENTRAL OFFICE MUMBAI 400 001 Notification No.FEMA 10 (R) /2015-RB January 21, 2016 (Amended upto June 01, 2016) Foreign Exchange Management (Foreign currency

More information

Emerging Opportunities Move into a higher gear

Emerging Opportunities Move into a higher gear Emerging Opportunities Move into a higher gear Atul Mittal Director, Deloitte Touche Tohmatsu Pvt. Ltd. December 3, 2011 India Growth Story 2 Key industries will continue to grow Emerging Economy 3rd largest

More information

Steel In The News. A compilation of leading news items on Indian steel industry as reported in major national dailies. Highlight of the Week 2

Steel In The News. A compilation of leading news items on Indian steel industry as reported in major national dailies. Highlight of the Week 2 Steel In The News A compilation of leading news items on Indian steel industry as reported in major national dailies CONTENTS Page Highlight of the Week 2 Company News 2 Projects 3 Policy 4 Steel Performance

More information

Steel In The News. A compilation of leading news items on Indian steel industry as reported in major national dailies. Highlight of the Week

Steel In The News. A compilation of leading news items on Indian steel industry as reported in major national dailies. Highlight of the Week Steel In The News A compilation of leading news items on Indian steel industry as reported in major national dailies CONTENTS Page Highlight of the Week 2 Company News 2 Policy 5 Financial 5 Newsmaker

More information

Alternative Investments Introduction To Real Estate Investments

Alternative Investments Introduction To Real Estate Investments Alternative Investments Introduction To Real Estate Investments Growth( %) India: Growth Engine of the World Economy India is the Seventh largest country in the world in terms of GDP and third largest

More information

Point of Taxation Rules and Taxable Event

Point of Taxation Rules and Taxable Event Point of Taxation Rules and Taxable Event Vivek Kohli, Ashwani Sharma and Anuj Kakkar * This article deals with the Point of Taxation Rules, 2011 introduced in the Budget 2011 for levy of service tax.

More information

Press Information Bureau Government of India Ministry of Finance 01-February :06 IST Highlights of Budget

Press Information Bureau Government of India Ministry of Finance 01-February :06 IST Highlights of Budget Press Information Bureau Government of India Ministry of Finance 01-February-2018 14:06 IST Highlights of Budget 2018-19 Finance Minister Shri Arun Jaitley presents general Budget 2018-19 in Parliament.

More information

THE BUDGET Dhiren Shah & Co. Chartered Accountants Ahmedabad

THE BUDGET Dhiren Shah & Co. Chartered Accountants Ahmedabad THE BUDGET 2019-20 Dhiren Shah & Co. Chartered Accountants Ahmedabad Address : 2nd & 3rd Floor, Swastik Avenue, Swastik society, Navrangpura, Ahmedabad- 380009. Contents Particulars Page No About Us 1

More information

CURRENT AFFAIRS FEBRUARY BANKING

CURRENT AFFAIRS FEBRUARY BANKING CURRENT AFFAIRS FEBRUARY 2016 - BANKING http://www.tutorialspoint.com/current_affairs_february_2016/banking.htm Copyright tutorialspoint.com News 1 - Corporation Bank Signs MoU with Universal Sompo for

More information

Shri Vishnu Engineering College for Women (Autonomous): Bhimavaram. Department of Management Studies UNION BUDGET 2018 ANALYSIS

Shri Vishnu Engineering College for Women (Autonomous): Bhimavaram. Department of Management Studies UNION BUDGET 2018 ANALYSIS Shri Vishnu Engineering College for Women (Autonomous): Bhimavaram Department of Management Studies UNION BUDGET 2018 ANALYSIS SESSION @ 01-02-18 The students of MBA had witnessed the live presentation

More information

PRE BUDGET RECOMMENDATION. For the Gems & Jewellery Industry, To: Shri. Arun Jaitley :- Hon ble Minister of Finance

PRE BUDGET RECOMMENDATION. For the Gems & Jewellery Industry, To: Shri. Arun Jaitley :- Hon ble Minister of Finance PRE BUDGET RECOMMENDATION For the Gems & Jewellery Industry, 2016-17 To: Shri. Arun Jaitley :- Hon ble Minister of Finance Secretary, The Ministry of Commerce & Industry Secretary, Department of Industrial

More information

CENVAT: A Fresh Perspective

CENVAT: A Fresh Perspective CENVAT: A Fresh Perspective Vivek Kohli, Ashwani Sharma, Anuj Kakkar * In the process of manufacture or provision of service, the Manufacturer or Service Provider uses numerous inputs, both in form of

More information

IMPACT OF GOODS AND SERVICE TAX (GST)

IMPACT OF GOODS AND SERVICE TAX (GST) 244 Journal of Management and Science ISSN: 2249-1260 e-issn: 2250-1819 Special Issue. No.1 Sep 17 IMPACT OF GOODS AND SERVICE TAX (GST) Mrs. M.Shanthini Devi Assistant professor Department of Commerce

More information

Visit us at Gosarkari.com

Visit us at Gosarkari.com Visit us at Union Budget 2019-2020 of India was presented by the Union Minister for Finance, Corporate Affairs, Railways & Coal, Shri Piyush Goyal. The knowledge about yearly Union Budget is very important

More information

Section 1: General Definitions and Provisions Section 2: Supplies within Tax Scope Section 3: Place of Supply Chapter 1: Place of Goods Supply

Section 1: General Definitions and Provisions Section 2: Supplies within Tax Scope Section 3: Place of Supply Chapter 1: Place of Goods Supply GCC VAT Framework 1 Contents Section 1: General Definitions and Provisions... 6 Article 1: Definitions... 6 Article 2: Tax Scope... 8 Article 3: The Calculation of Tax Periods... 8 Article 4: Tax Group...

More information

Click icon to add picture

Click icon to add picture Click icon to add picture Specific deductions under Income Tax Act, 1961. For discussion purposes only April 2017 2017 Deloitte Haskins & Sells LLP 1 Introduction Setting the context 2017 Deloitte Haskins

More information

NewsletterOctober 2014

NewsletterOctober 2014 NewsletterOctober 204 Volume 5 Message from President Welcome to the fifth edition of ICEMA Newsletter. In this edition, we would cover many "firsts" that ICEMA has achieved over the past one quarter with

More information

Weekly GK Banking Capsule 2018

Weekly GK Banking Capsule 2018 1 Banking News Bharathi appointed as head of Corporation Bank P V Bharathi has been appointed as Managing Director and Chief Executive Officer of the Corporation Bank on 24 December 2018 She is at present

More information

THE QATAR LEGAL AND FISCAL FRAMEWORK: A REVIEW

THE QATAR LEGAL AND FISCAL FRAMEWORK: A REVIEW Middle East Insights Middle East Institute, National University of Singapore THE QATAR LEGAL AND FISCAL FRAMEWORK: A REVIEW By Mattia Tomba In 1995, the heir to the throne of Qatar Sheikh Hamad bin Khalifa

More information

EY Regulatory Alert. Executive summary. ECB Policy- revised framework. 04 December 2015

EY Regulatory Alert. Executive summary. ECB Policy- revised framework. 04 December 2015 04 December 2015 EY Regulatory Alert ECB Policy- revised framework Executive summary Regulatory Alerts cover significant regulatory news, developments and changes in legislation that affect Indian businesses.

More information

THE INSTITUTE OF Telephones : /1034/1035 COST ACCOUNTANTS OF INDIA /1492/1619

THE INSTITUTE OF Telephones : /1034/1035 COST ACCOUNTANTS OF INDIA /1492/1619 Ref: ICAI/TRD/AUG2018 Dated: 28.08.2018 To, Shri Arun Jaitley Hon ble Union Minister Finance and Corporate Affairs, Chairperson, Goods & Services Tax Council North Block, New Delhi 110001. Sub: Representation

More information

Domestic Transfer Pricing (India)

Domestic Transfer Pricing (India) Domestic Transfer Pricing (India) After the grand success of International Transfer pricing, through which huge transfer pricing orders slapped on companies with cross-border operations in the last financial

More information

TAX CONNECT TAX CONNECT. Knowledge Partner: The Bengal Chamber of Commerce & Industry

TAX CONNECT TAX CONNECT. Knowledge Partner: The Bengal Chamber of Commerce & Industry 130 th Issue: TAX CONNECT Knowledge Partner: The Bengal Chamber of Commerce & Industry INCOME TAX CUSTOMS [ TAX CONNECT Kolkata: 1, Old Court House Corner, To a o House 1 st Floor, R.No.-13 (North), Kolkata-700001

More information

TAX EDGE. Monthly Tax & Regulatory Updates. October

TAX EDGE. Monthly Tax & Regulatory Updates. October TAX EDGE Monthly Tax & Regulatory Updates October 2018 www.krayman.com Accounting Taxation Regulatory Contents Goods & Services Tax (GST) Customs Direct Tax Company Law Reserve Bank of India (RBI) Goods

More information

Regulatory Framework for IFSC in India: The experience of GIFT IFSC. by Mr. Dipesh Shah Head IFSC & Strategy GIFT IFSC. April 05, 2017 at NIPFP

Regulatory Framework for IFSC in India: The experience of GIFT IFSC. by Mr. Dipesh Shah Head IFSC & Strategy GIFT IFSC. April 05, 2017 at NIPFP Regulatory Framework for IFSC in India: The experience of GIFT IFSC by Mr. Dipesh Shah Head IFSC & Strategy GIFT IFSC April 05, 2017 at NIPFP STIKEMAN ELLIOTT (LONDON) LLP www.stikeman.com Presentation

More information

TAX EDGE. Monthly Tax & Regulatory Updates. September

TAX EDGE. Monthly Tax & Regulatory Updates. September TAX EDGE Monthly Tax & Regulatory Updates September 2018 www.krayman.com Accounting Taxation Regulatory Contents Goods & Services Tax (GST) Direct Tax Transfer Pricing / International Taxation Company

More information

The Finance Act, the finer aspects

The Finance Act, the finer aspects The Finance Act, 2018 - the finer aspects P a g e 1 The Finance Act, 2018 has been enacted and is operative from April 1, 2018. From live screening to the Finance Bill, 2018 till its enactment and thereafter,

More information

GST Update M.S. CHHAJED & CO. GST UPDATE 3/

GST Update M.S. CHHAJED & CO. GST UPDATE 3/ GST Update 03 2018-19 19th August 2018 FOR PRIVATE CIRCULATION ONLY M.S. CHHAJED & CO. GST UPDATE 3/18-19 1 Reverse Charge Mechanism The Central Government vide Notification No. 22/2018- Central Tax (Rate)

More information

Current service tax rate in india

Current service tax rate in india Current service tax rate in india 2013 14 Income Tax Slab (A.Y. 2015-16) & (A.Y. 2014-15): Check the latest income tax slab rates for Asst. Yr. 2014-14 or Financial year 2013-14. Download in PDF format

More information

September 12, technology. The project will use data mining and big data analytics technologies.

September 12, technology. The project will use data mining and big data analytics technologies. September 12, 2017 Government to launch Project Insight" from October 2017 The Union Government has decided to launch Project Insight, in collaboration with L & T Infotech Ltd, to restrict black money

More information

SUGGESTIONS AND RECOMMENDATIONS

SUGGESTIONS AND RECOMMENDATIONS CHAPTER VI SUGGESTIONS AND RECOMMENDATIONS This study Impact of Value Added Tax on the Financial and Tax Management Practices of VAT Assessees of Kerala was undertaken to identify the efficiency and effectiveness

More information

Highlights of Union Budget

Highlights of Union Budget Highlights of Union Budget 2017-18 The Budget broadly focussed on 10 themes viz. farming sector, rural population, the youth, the poor to name a few. The 2017 Union Budget, presented by Finance Minister

More information

UK govt now has highest number of Indian-origin ministers

UK govt now has highest number of Indian-origin ministers UK govt now has highest number of Indian-origin ministers UK parliament now has a minister of state (Alok Sharma) and three junior ministers (Rishi Sunak, Shailesh Vara and Suella Fernandes). Sunak is

More information

CURRENT AFFAIRS 1 st February 2018

CURRENT AFFAIRS 1 st February 2018 CURRENT AFFAIRS 1 st February 2018 1. Union Budget 2018-19: Complete Analysis Budget 2018 Takeaways- As per the FM in the Union Budget, India is expected to become the fifth largest economy very soon.

More information

Regulatory Alert Stay Ahead

Regulatory Alert Stay Ahead India Tax & Regulatory For private circulation only 20 December 2017 p Regulatory Alert Stay Ahead FEMA (Transfer or issue of security by a Person Resident Outside India) Regulations, 2017 Issue no: RA/17/2017

More information

Backdrop of demonetisation- CSO data(q-1-ministry) GDP Decrease % GVA Decrease-7.2-7% GVA-Mining and quarrying is estimated to shrink7.

Backdrop of demonetisation- CSO data(q-1-ministry) GDP Decrease % GVA Decrease-7.2-7% GVA-Mining and quarrying is estimated to shrink7. Backdrop of demonetisation- CSO data(q-1-ministry) GDP Decrease-7.6-7.1% GVA Decrease-7.2-7% GVA-Mining and quarrying is estimated to shrink7.1 to 1.8 % Electricity, gas, water supply and other utility

More information

VOLUNTARY LIQUIDATION OF CORPORATE PERSONS SECTION 59

VOLUNTARY LIQUIDATION OF CORPORATE PERSONS SECTION 59 VOLUNTARY LIQUIDATION OF CORPORATE PERSONS SECTION 59 Notification No. IBBI/2016-17/GN/REG010 dated 31st March, 2017 IBBI has notified the Insolvency and Bankruptcy Board of India (Voluntary Liquidation

More information

ONE COUNTRY ONE TAX MAHESWARI & CO NEWSLETTER. Advocates & Legal Consultants

ONE COUNTRY ONE TAX MAHESWARI & CO NEWSLETTER. Advocates & Legal Consultants JULY, 2016 MAHESWARI & CO Advocates & Legal Consultants NEWSLETTER ONE COUNTRY ONE TAX India s indirect tax structure has encountered its biggest tax reform since independence on Wednesday the 3 rd day

More information

VGGLOBAL HIGHLIGHTS OF THE FINANCE BILL VGGlobal

VGGLOBAL HIGHLIGHTS OF THE FINANCE BILL VGGlobal VGGLOBAL HIGHLIGHTS OF THE FINANCE BILL 2014 VGGlobal 2014. www.vgglobal.co.in From the Desk of: CA Ved Parkash Gupta Managing Partner Email: vedgupta@vgglobal.co.in Dear All, One word that comes to mind

More information

GOVERNMENT OF WEST BENGAL DIRECTORATE OF COMMERCIAL TAXES 14, BELIAGHATA ROAD, KOLKATA

GOVERNMENT OF WEST BENGAL DIRECTORATE OF COMMERCIAL TAXES 14, BELIAGHATA ROAD, KOLKATA GOVERNMENT OF WEST BENGAL DIRECTORATE OF COMMERCIAL TAXES 14, BELIAGHATA ROAD, KOLKATA-700015 ADDENDUM TO TRADE CIRCULAR NO. 07/2017 DATED 19.07.2017 DATED: 28.08.2017 Subject: Clarification on issues

More information

Lesson 4 Indirect Tax Laws and Practice - An Introduction

Lesson 4 Indirect Tax Laws and Practice - An Introduction Lesson 4 Indirect Tax Laws and Practice - An Introduction LESSON OUTLINE Introduction Constitutional provisions in relation to taxation Indirect taxes Customs Provisional Collection of Taxes Act, 1931

More information

Issues relating to SEZ

Issues relating to SEZ Issues relating to SEZ DISCLAIMER The views expressed in this article are of the author(s). The Institute of Chartered Accountants of India may not necessarily subscribe to the views expressed by the author(s).

More information

Saudi Arabia: The Ministry of Commerce and Investments launches the Unified Register for Commercial Pledges and publishes its procedural rules

Saudi Arabia: The Ministry of Commerce and Investments launches the Unified Register for Commercial Pledges and publishes its procedural rules Saudi Arabia: The Ministry of Commerce and Investments launches the Unified Register for Commercial Pledges and publishes its procedural rules Thursday, 21 st of March 2019 Introduction Pursuant to the

More information

Presentation on. Regulating the Insolvency Profession: Accountability, Ethics and Costs

Presentation on. Regulating the Insolvency Profession: Accountability, Ethics and Costs International Conference and Meeting of the Forum for Asian Insolvency Reform Presentation on Regulating the Insolvency Profession: Accountability, Ethics and Costs 9 th April, 2010 1 INDUSTRIAL DEVELOPMENT

More information

Speech Delivered by Mr. A. Vellayan, Chairman at the 37 th Annual General Meeting of the Shareholders of E.I.D. Parry (India) Limited

Speech Delivered by Mr. A. Vellayan, Chairman at the 37 th Annual General Meeting of the Shareholders of E.I.D. Parry (India) Limited Speech Delivered by Mr. A. Vellayan, Chairman at the 37 th Annual General Meeting of the Shareholders of E.I.D. Parry (India) Limited Tuesday, the 31 st July, 2012, at 4 P.M. Tamil Isai Sangam, Rajah Annamalai

More information

Steel In The News. A compilation of leading news items on Indian steel industry as reported in major national dailies. Raw Materials 2.

Steel In The News. A compilation of leading news items on Indian steel industry as reported in major national dailies. Raw Materials 2. Steel In The News A compilation of leading news items on Indian steel industry as reported in major national dailies CONTENTS Page Raw Materials 2 Company News 2 Projects 3 Financials 4 Policy 4 Industry

More information

Budget Analysis CMA Ashok B Nawal

Budget Analysis CMA Ashok B Nawal Budget Analysis 2017-18 CMA Ashok B Nawal Discretionary Administration Policy & System Based Administration TRANSITION Favouritism Blanket & Loose Entitlements Transparency & Objectivity in Decision Making

More information

Domestic Transfer Pricing in India

Domestic Transfer Pricing in India Domestic Transfer Pricing in India By (Partner) SBR & CO. Chartered Accountants P a g e 1 After the grand success of International Transfer pricing, through which huge transfer pricing orders slapped on

More information

PROPOSED REFORMS TO THE FOREIGN DIRECT INVESTMENT POLICY NOVEMBER 2015

PROPOSED REFORMS TO THE FOREIGN DIRECT INVESTMENT POLICY NOVEMBER 2015 PROPOSED REFORMS TO THE FOREIGN DIRECT INVESTMENT POLICY NOVEMBER 2015 On the eve of the G-20 summit, on November 10, 2015, the Prime Minister, Mr. Narendra Modi and the Finance Minister, Mr. Arun Jaitley,

More information

(Unofficial Translation) NEPAL GAZETTE PART 2

(Unofficial Translation) NEPAL GAZETTE PART 2 (Unofficial Translation) NEPAL GAZETTE Published by Government of Nepal (Vol. 61) Kathmandu; 2068, Bhadra 23 (September 9, 2011) (Supplement 23) PART 2 Government of Nepal Ministry of Law and Justice The

More information

How to start new Business

How to start new Business How to start new Business QATAR CHAMBER OF COMMERCE AND INDUSTRY http://www.qcci.org First: The steps to be followed to obtain Commercial Register To apply to commercial licenses section, in the Ministry

More information

MANAGERIAL REMUNERATION SECTION AND SCHEDUL V- ANALYSIS

MANAGERIAL REMUNERATION SECTION AND SCHEDUL V- ANALYSIS MANAGERIAL REMUNERATION SECTION 196 198 AND SCHEDUL V- ANALYSIS Sl Description Page No. No. 1 Conditions for Appointment of MD/Whole Time Director/ Manager 3 2 Extension to Age Limit 3 3 Appointment Procedure

More information

Speech by CAI President Shri. Atul Ganatra at the Annual Gala Dinner on December 27, 2017

Speech by CAI President Shri. Atul Ganatra at the Annual Gala Dinner on December 27, 2017 Weekly Publication of Cotton Association of India Edited & Published by Amar Singh 2017-18 No. 40 2 nd January, 2018 Published every Tuesday Cotton Exchange Building, 2nd Floor, Cotton Green, Mumbai -

More information

India's first MSE sentiment Index released. India won Under-19 World Cup. Hukum Singh dies. Anand Karaj Marriage Act in Delhi

India's first MSE sentiment Index released. India won Under-19 World Cup. Hukum Singh dies. Anand Karaj Marriage Act in Delhi India's first MSE sentiment Index released Union Finance and Corporate Affairs Minister Shri Arun Jaitley released Crisidaks here today, which is the first sentimental index of India developed jointly

More information

Government to unveil portal to facilitate FDI proposals soon

Government to unveil portal to facilitate FDI proposals soon JUNE, 2017 MAHESWARI & CO. Advocates & Legal Consultants NEWSLETTER Government to unveil portal to facilitate FDI proposals soon The government will soon unveil a portal to replace the website of the Foreign

More information

Reliance Group and Dassault's joint venture gets CCI approval

Reliance Group and Dassault's joint venture gets CCI approval JANUARY, 2017 MAHESWARI&CO Advocates & Legal Consultants NEWSLETTER Reliance Group and Dassault's joint venture gets CCI approval The Competition Commission of India (CCI) allowed a joint venture between

More information

Goods and Services Tax in India Current Update

Goods and Services Tax in India Current Update Goods and Services Tax in India Current Update Santosh Dalvi Partner and Deputy National Head Indirect tax, KPMG in India 8 December 2018 Setting the Context 50% increase in unique indirect taxpayers under

More information

Budget Highlights

Budget Highlights Budget 2011- Highlights The Finance Minister has presented a Budget, which many industry analysts have felt is more middle of the road than being one which is a game changer for the Indian economy. The

More information

GST Input Tax Credit [Chapter V]

GST Input Tax Credit [Chapter V] GST Input Tax Credit [Chapter V] Edition 5 Contents GST Regime Eligibility and conditions for taking input tax credit [S. 16] Apportionment of credit and blocked credits [S. 17] Availability of credit

More information

Myanmar Special Economic Zone Law, 2014 (2014, The Pyidaungsu Hluttaw Law No. 1/2014) 8 th Waning of Pyatho 1375 ME (2014, January 23)

Myanmar Special Economic Zone Law, 2014 (2014, The Pyidaungsu Hluttaw Law No. 1/2014) 8 th Waning of Pyatho 1375 ME (2014, January 23) Myanmar Special Economic Zone Law, 2014 (2014, The Pyidaungsu Hluttaw Law No. 1/2014) 8 th Waning of Pyatho 1375 ME (2014, January 23) The Pyidaungsu Hluttaw hereby enacts this Law. Chapter I Title, Relevance

More information

Law No. 116 of 2013 Regarding the Promotion of Direct Investment in the State of Kuwait

Law No. 116 of 2013 Regarding the Promotion of Direct Investment in the State of Kuwait Law No. 116 of 2013 Regarding the Promotion of Direct Investment in the State of Kuwait Law No. 116 of 2013 Regarding the Promotion of Direct Investment in the State of Kuwait - Having reviewed the Constitution;

More information

BUDGET ANALYSIS IMPACT ON FOREIGN PORTFOLIO INVESTORS. February 2017

BUDGET ANALYSIS IMPACT ON FOREIGN PORTFOLIO INVESTORS. February 2017 BUDGET ANALYSIS IMPACT ON FOREIGN PORTFOLIO INVESTORS February 2017 www.deloitte.com/in Foreword The Finance Minister presented Union Budget for fiscal year 2017-18 in the parliament today. The budget

More information

(b) Preference shares and debentures must be fully paid up and must be mandatorily and fully convertible.

(b) Preference shares and debentures must be fully paid up and must be mandatorily and fully convertible. Delhi Mumbai Gurgaon Bengaluru Celebrating over 40 years of professional excellence Highlights i. Warrants and partly paid shares as eligible FDI instrument ii. Clarification on facility sharing agreements

More information

Steel In The News. A compilation of leading news items on Indian steel industry as reported in major national dailies. Highlight of the Week 2

Steel In The News. A compilation of leading news items on Indian steel industry as reported in major national dailies. Highlight of the Week 2 Steel In The News A compilation of leading news items on Indian steel industry as reported in major national dailies CONTENTS Page Highlight of the Week 2 Raw Material 2 Company News Projects Policy Steel

More information

Regulatory Bulletin: Relaxation of Foreign Investment rules in India. November

Regulatory Bulletin: Relaxation of Foreign Investment rules in India. November Regulatory Bulletin: Relaxation of Foreign Investment rules in India vember 2017 www.krayman.com Relaxation of Foreign Investment rules in India As another step towards ease of doing business in India,

More information

Important FTP provisions made less beneficial on account of implementation of GST

Important FTP provisions made less beneficial on account of implementation of GST This column is compiled by Consultant [EXIM Policy] of EPCH. It contains recent Public Notices, Notifications and Circulars of DGFT, CBEC and Department of Revenue. If a handicraft exporter has question[s]

More information

Corporate Law Alert February 1, J. Sagar Associates advocates and solicitors. External Commercial Borrowing

Corporate Law Alert February 1, J. Sagar Associates advocates and solicitors. External Commercial Borrowing External Commercial Borrowing The Reserve Bank of India (RBI) had vide A.P. (DIR Series) Circular No. 27 dated September 23, 2011 enhanced the External Commercial Borrowing (ECB) limits for eligible borrowers

More information

Major Indices November 25, 2016 December 02, 2016 % Change. BSE Sensex 26, , (0.32) NSE Nifty 8, , (0.

Major Indices November 25, 2016 December 02, 2016 % Change. BSE Sensex 26, , (0.32) NSE Nifty 8, , (0. MARKET MOVEMENT Major Indices November 25, 2016 December 02, 2016 % Change BSE Sensex 26,316.34 26,230.66 (0.32) Change NSE Nifty 8,114.30 8,086.80 (0.33) INDIAN ECONOMY AT A GLANCE POLICY WATCH Government

More information

UNION BUDGET Highlights of Tax Proposals

UNION BUDGET Highlights of Tax Proposals UNION BUDGET 2014-15 Highlights of Tax Proposals From the Editor s Desk The maiden Budget presented by the new NDA Government was clearly short of the Great Expectations that was abuzz before the Budget.

More information

A) The Centre has set up a Defence Planning Committee (DPC) chaired by Nirmala Sitharaman

A) The Centre has set up a Defence Planning Committee (DPC) chaired by Nirmala Sitharaman DR GAURAV GARG TIRELESSSOUL Q1) Consider the following statements : A) The Centre has set up a Defence Planning Committee (DPC) chaired by Nirmala Sitharaman B) The DPC would submit its draft reports

More information

Key 21 suggestions on Draft GST Return Formats

Key 21 suggestions on Draft GST Return Formats Key 21 suggestions on Draft GST Return Formats The GST Council in its 28 th GST Council Meeting held on July 21, 2018 under the Chairmanship of Shri Piyush Goyal, Union Minister for Railways, Coal, Finance

More information

Schemes announced in Budget

Schemes announced in Budget Schemes announced in Budget 2018-19 Agricultural Schemes Govt. will set up an agricultural market and infrastructure fund of Rs. 2000 crore to improve market connectivity. Kisan Urja Suraksha evam Utthaan

More information

Legislative Brief The Direct Taxes Code Bill, 2010

Legislative Brief The Direct Taxes Code Bill, 2010 Legislative Brief The Direct Taxes Code Bill, 2010 The Direct Taxes Code Bill, 2010 was introduced in the Lok Sabha by the Minister for Finance on August 31, 2010. The Bill has been referred to the Standing

More information

REGULATIONS GOVERNING FOREIGN CURRENCY ACCOUNTS IN INDIA

REGULATIONS GOVERNING FOREIGN CURRENCY ACCOUNTS IN INDIA Open Access Journal available at jlsr.thelawbrigade.com 399 REGULATIONS GOVERNING FOREIGN CURRENCY ACCOUNTS IN INDIA Written by Shubham Grover 1 st Year M.A. Business Laws, WBNUJS, Kolkata Introduction

More information

CAPSULE COURSE ON GST

CAPSULE COURSE ON GST STANDING CONFERENCE OF PUBLIC ENTERPRISES NACIN CAPSULE COURSE ON GST Date/ Time Thursday 12 th October 2017 (10.00 HRS-18.00 HRS) Venue SCOPE CONVENTION CENTRE, SCOPE COMPLEX, 7- LODHI ROAD, NEW DELHI

More information

Financial Inclusion & Postal Banking The India Story

Financial Inclusion & Postal Banking The India Story Financial Inclusion & Postal Banking The India Story A Presentation by Sandip Ghose Reserve Bank of India at the UPU-AFI Workshop, Berne, Switzerland 9 th & 10 th November, 2009 Financial Inclusion : Definition

More information

Weekly GK Banking Capsule 2018

Weekly GK Banking Capsule 2018 1 Banking News SBI all set to sell the NPAs - Shivam Dhatu and BRFL SBI is all set to sell the two assets (NPAs) on account of their poor performances. SBI has invited bids for them. The two accounts on

More information

THE CENTRAL GOODS AND SERVICES TAX (AMENDMENT) BILL, 2018

THE CENTRAL GOODS AND SERVICES TAX (AMENDMENT) BILL, 2018 1 As INTRODUCED IN LOK SABHA Bill No. 143 of 2018 THE CENTRAL GOODS AND SERVICES TAX (AMENDMENT) BILL, 2018 A BILL further to amend the Central Goods and Services Tax Act, 2017. BE it enacted by Parliament

More information

GOODS AND SERVICE TAX IN INDIA PROBLEMS AND PROSPECTS

GOODS AND SERVICE TAX IN INDIA PROBLEMS AND PROSPECTS 82 Journal of Management and Science ISSN: 2249-1260 e-issn: 2250-1819 Special Issue. No.1 Sep 17 GOODS AND SERVICE TAX IN INDIA PROBLEMS AND PROSPECTS DR.T.DURAIPANDI Assistant Professor Department of

More information

Reliance Infrastructure Limited Corporate Office: 3 rd Floor, North Wing Tel: +91 22 3303 1000 Reliance Energy Center Fax:+91 22 3303 3664 Santacruz (East) www.rinfra.com Mumbai 400 055 CIN: L75100MH1929PLC001530

More information

June 13, direction for deeper bilateral engagement on issues of mutual interest. Delayed by two-three

June 13, direction for deeper bilateral engagement on issues of mutual interest. Delayed by two-three June 13, 2017 PM Modi to visit United States on June 25 Prime Minister Narendra Modi will be on a two day visit to United Sates on 25th of this month. During the visit, Mr. Modi will hold official talks

More information

OECD-ARAB LEAGUE REGIONAL CONFERENCE. Fostering Regional Integration on Investment

OECD-ARAB LEAGUE REGIONAL CONFERENCE. Fostering Regional Integration on Investment OECD-ARAB LEAGUE REGIONAL CONFERENCE Fostering Regional Integration on Investment 9-10 December 2014 League of Arab States Headquarters, Cairo, Egypt Draft Conclusions Conference objective The OECD-Arab

More information

E T E R N I T Y : L AW A P P R I S E

E T E R N I T Y : L AW A P P R I S E E T E R N I T Y : L AW A P P R I S E * P r i v a t e C i r c u l a t i o n O n l y RBI: Foreign Exchange Management (Remittance of Assets) Regulations RBI: Foreign Exchange Management (Deposit) Regulations

More information

GOVERNMENT OF WEST BENGAL DIRECTORATE OF COMMERCIAL TAXES 14, BELIAGHATA ROAD, KOLKATA TRADE CIRCULAR NO.10/2017 DATED:

GOVERNMENT OF WEST BENGAL DIRECTORATE OF COMMERCIAL TAXES 14, BELIAGHATA ROAD, KOLKATA TRADE CIRCULAR NO.10/2017 DATED: GOVERNMENT OF WEST BENGAL DIRECTORATE OF COMMERCIAL TAXES 14, BELIAGHATA ROAD, KOLKATA-700015 TRADE CIRCULAR NO.10/2017 DATED: 11.10.2017 Subject: Clarification on issues related to furnishing of Bond/Letter

More information

CONTENTS AT A GLANCE DIRECT TAX INDIRECT TAX CORPORATE LAWS

CONTENTS AT A GLANCE DIRECT TAX INDIRECT TAX CORPORATE LAWS November 2016 / Volume VIII / ASA The key amendments introduced in statutes, policies and procedures in respect of Direct Tax, Indirect Tax, Corporate Laws & Accounting Standards, Foreign Exchange Management

More information

Start of the subscription period for the IPO of Mesaieed Petrochemical Holding Company Q.S.C.

Start of the subscription period for the IPO of Mesaieed Petrochemical Holding Company Q.S.C. IMPORTANT NOTICE: This announcement is being made available for information purposes only within the State of Qatar. This announcement does not constitute a prospectus or offering document relating to

More information

Basics of Income Tax

Basics of Income Tax CHAPTER : Basics of Income Tax CONCEPT 1: Short Title, Extent and Commencement [Section 1] a) Short title : Income Tax Act 1961 b) Extent : Whole of India c) Commencement : 1 st April, 1962 CONCEPT 2:

More information

5TH NLIU JURIS CORP NATIONAL CORPORATE LAW MOOT COURT COMPETITION 2014 MOOT PROBLEM

5TH NLIU JURIS CORP NATIONAL CORPORATE LAW MOOT COURT COMPETITION 2014 MOOT PROBLEM 1 Jeevani Limited ( Jeevani ) is a listed public company incorporated in the year 1990 under the Companies Act, 2013 with its registered office in New Delhi. Its equity shares are listed on the Bombay

More information

Hong Kong & Mainland China News Jan-2013

Hong Kong & Mainland China News Jan-2013 Hong Kong & Mainland China News Jan-2013 China GDP revised upward by thestandard.com.hk, Hong Kong Tuesday, January 08, 2013 Ahead of China releasing its 2012 GDP data in just about 10 days, the country's

More information

Centre for Trade Facilitation and Research in Textiles

Centre for Trade Facilitation and Research in Textiles Centre for Trade Facilitation and Research in Textiles Textile Economic Intelligence (WEEK ENDING 16-03-2018) NEWS HIGHLIGHTS VN garment-textile sector aiming for 10 pc growth this year Picanol Group posts

More information

Modi govt boosts Middle Class, Farmers, Workers' Josh!

Modi govt boosts Middle Class, Farmers, Workers' Josh! Mission Elections 2k19 Modi govt boosts Middle Class, Farmers, Workers' Josh! b Hive Volume 06 ** February 2019 ** Issue 02 # Contents Humaare sarkar ki niyat saaf hai neeti, spasht hai aur nishtha atal

More information

Producer Companies CHAPTER 25

Producer Companies CHAPTER 25 CHAPTER 25 Producer Companies Appointment of Directors (Section 581P) Question 1 XYZ Producer Company Limited was incorporated on 1 st April, 2003. At present it has got 200 members and its board consists

More information