Daily Archives: November 17, 2015

CBDT Standard Operation Procedure for Filing Appeals, Curing Defective Appeals and Defective representation

By | November 17, 2015

Central Board of Direct Taxes (Govt of India) PROCEDURE FOR FILING APPEALS, CURING DEFECTIVE APPEALS AND EFFECTIVE REPRESENTATION IN THE DELHI HIGH COURT for Income Tax Department under the Jurisdiction of Principal Chief Commissioner of Income Tax, Delhi Region In the case of National Petroleum Construction Company Vs. DIT in ITA Nos. 143, 144, 533/2013… Read More »

India Bangladesh Initial Draft MoU on Passenger and Cruise Services

By | November 17, 2015

Ministry of Shipping of Govt of India on 17-November, 2015 India and Bangladesh Initial a Draft MoU on Passenger and Cruise Services on Coastal and Protocol Route Secretary Shipping level talks between India and Bangladesh were held in New Delhi yesterday. The Indian delegation was led by Shri Rajive Kumar, Secretary, Ministry of Shipping, Government… Read More »

Few Facts About International Film Festivals of India

By | November 17, 2015

In India, the International Film Festival was for the first time  organised in 1952 in Bombay. It was a non-competitive festival. The fortnight long festival was held with effect from 24th January 1952. Twenty three countries including India participated, in addition UNO also participated. 52 feature films and 115 other films (documentaries, scientific films, cartoons,… Read More »

CCI Imposes Penalties on Jet Airways,InterGlobe,Spice Jet

By | November 17, 2015

Ministry of Corporate Affairs of Govt of India on 17-November, 2015 CCI Imposes Penalties Upon Airlines for Concerted Action in Fixing Fuel Surcharge (FSC) on Cargo Transport The Competition Commission of India (CCI) has imposed penalties upon 3 Airlines for concerted action in fixing and revising Fuel Surcharge (FSC) for transporting cargo. The final order was… Read More »

IRDA invite Comments on Expenses of Management of Insurers transacting Non-life and Health Insurance business

By | November 17, 2015

EXPOSURE DRAFT Date:17-11-2015 Insurance Regulatory and Development Authority of India Insurance Regulatory and Development Authority of India (Expenses of Management of Insurers transacting Non-life and Health Insurance business) Regulations, 2015 Insurance Laws (Amendment) Act 2015 has carried out amendments to the sections 40B and 40C. By the virtue of the amendment in these sections, the rule… Read More »

IRDA invites Comment on Draft for Preparation of Financial Statements and Auditor s Report of Insurance companies

By | November 17, 2015

Exposure Draft Date:17-11-2015 Insurance Regulatory and Development Authority of India Regulations on Preparation of Financial Statements and Auditor s Report of Insurance companies Pursuant to the notification of the Insurance Laws (Amendment) Act, 2015 on 23rd March 2015, there is a need to carry out suitable amendments to the IRDA (Preparation of Financial Statements and… Read More »

Now Insurance is not Subject matter of solicitation

By | November 17, 2015

THE GAZETTE OF INDIA : EXTRAORDINARY PART III—Section 4 INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA NOTIFICATION Hyderabad, the 4th November, 2015 Insurance Regulatory and Development Authority of India (Insurance Advertisements and Disclosure) (Amendment) Regulations, 2015 F. No. IRDAI/Reg/19/109/2015 – In exercise of the powers conferred by Section 26(1) of the Insurance Regulatory and Development… Read More »

Mobile Banking transactions in India, Operative Guidelines for Banks

By | November 17, 2015

Reserve Bank of India RBI/2015-16/65 DPSS.CO.PD.Mobile Banking.No.1/02.23.001/2015-16 July 1, 2015 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks Madam /Dear Sir, Master Circular – Mobile Banking transactions in India – Operative Guidelines for Banks As… Read More »

Cities seek to address water logging problem under Atal Mission

By | November 17, 2015

Ministry of Urban Development of Govt of India on 17-November, 2015 Kerala, Madhya Pradesh, Mizoram, Gujarat and Odisha take lead in constructing storm water drains 5 States to invest Rs.242 cr under Atal Mission action plans for 2015-16 With water logging in cities following rains being a recurrent problem, States and Urban Local Bodies have… Read More »

Policy on use of IT Resources of Government of India

By | November 17, 2015

THE GAZETTE OF INDIA : EXTRAORDINARY MINISTRY OF COMMUNICATION AND INFORMATION TECHNOLOGY (Department of Electronics and Information Technology) NOTIFICATION New Delhi, the 18th February, 2015 Subject: Policy on use of IT Resources of Government of India F. No. 2(22)/2013-EG-II (Vol. II-B).—1. Introduction 1.1 Government provides IT resources to its employees to enhance their efficiency and… Read More »

E-mail policy of Goverment of India

By | November 17, 2015

THE GAZETTE OF INDIA : EXTRAORDINARY  MINISTRY OF COMMUNICATION AND INFORMATION TECHNOLOGY (Department of Electronics and Information Technology) NOTIFICATION New Delhi, the 18th February, 2015 Subject: E-mail policy of Government of India F. No. 2(22)/2013-EG-II.—1. Introduction 1.1 The Government uses e-mail as a major mode of communication. Communications include Government of India (GoI) data that… Read More »

FAQ on Seeds

By | November 17, 2015

Question : What are breeder, foundation and certified seeds ? Breeder seed : Breeder seed is seed or vegetative propagating material directly controlled by the originating or sponsoring plant breeder of the breeding programme or institution and/ or seed whose production is personally supervised by a qualified plant breeder and which provides the source for… Read More »

Govt Committed to Higher Growth Rate in Agriculture

By | November 17, 2015

Ministry of Agriculture of Govt of India Press release on 17.11.2015 Government is Committed to Higher Growth Rate in Agriculture – Radha Mohan Singh The Government is committed to higher growth rate in agriculture through sustainable development.  A number of schemes have been initiated for this purpose   which include soil health card scheme, ‘Paramparagat Krishi… Read More »

First Mega Food Park in Telangana

By | November 17, 2015

Ministry of Food Processing Industries of Govt of India on 16-November, 2015 Foundation stone of the first Mega Food Park in Telangana laid by Union Minister of Food Processing Industries Smt. Harsimrat Kaur Badal, Hon’ble Union Minister of Food Processing Industries today laid the foundation stone of the first Mega Food Park in Telangana promoted… Read More »

EXIT ORDER IN RESPECT OF VADODARA STOCK EXCHANGE LTD (VSEL)

By | November 17, 2015

Securities and Exchange board of India PR No. 266/2015 Whole Time Member, SEBI, has passed an Order dated November 09, 2015 providing the exit to Vadodara Stock Exchange Limited (“VSEL”). VSEL is the seventeenth Stock Exchange to exit under this policy. SEBI vide Circular dated May 30, 2012 had issued the Guidelines for exit of… Read More »

SEBI order for M/s En Aromatic & Petro Chemicals Limited (earlier known as Vamshi Chemicals Limited)

By | November 17, 2015

Shri Prashant Saran, Whole Time Member, SEBI has passed an order on November 04, 2015, wherein M/s En Aromatic & Petro Chemicals Limited, its promoters and its directors inter-alia have been directed to refund the money collected by the company through issuance of Redeemable Cumulative Preference Shares, with interest at the rate of 15% per… Read More »

Annual System Audit, Business Continuity Plan(BCP) and Disaster Recovery (DR): SEBI Circular

By | November 17, 2015

Securities and Exchange Board of India CIRCULAR CIR/CDMRD/DEICE/01/2015 November 16, 2015 To The Managing Directors / Chief Executive Officers All National Commodity Derivatives Exchanges Sir/Madam, Sub: Annual System Audit, Business Continuity Plan(BCP) and Disaster Recovery (DR) 1. Pursuant to Section 131 of the Finance Act, 2015 and Central Government notification F.No. 1/9/SM/2015 dated August 28,… Read More »

Investor Grievance Redressal System and Arbitration Mechanism: SEBI circular

By | November 17, 2015

Securities and Exchange Board of India  CIRCULAR CIR/CDMRD/DIECE/02/2015 November 16, 2015 To The Managing Directors / Chief Executive Officers All National Commodity Derivatives Exchanges Sir/Madam, Sub: Investor Grievance Redressal System and Arbitration Mechanism 1. Pursuant to Section 131 of the Finance Act, 2015 and Central Government notification F.No. 1/9/SM/2015 dated August 28, 2015, all recognized… Read More »

RBI releases Data on India’s International Trade in Services: September 2015

By | November 17, 2015

Date : Nov 16, 2015 The Reserve Bank of India today released the data on India’s International Trade in Services for September 2015. The value of exports and imports of services during September 2015 are given in the table below: Table: International Trade in Services (US$ Million) Month Receipts (Exports) Payments (Imports) July 2015 13,386… Read More »

India Foreign Trade (Merchandise) October, 2015

By | November 17, 2015

Ministry of Commerce & Industry of Govt of India on 16-November, 2015 EXPORTS (including re-exports) Exports during October, 2015 were valued at US$ 21352.79 million (Rs. 138916.98 crore) which was 17.53 per cent lower in Dollar terms (12.53 per cent lower in Rupee terms) than the level of US$ 25891.39 million (Rs. 158822.95 crore) during October,… Read More »

Accounting code for payment of Swachh Bharat Cess

By | November 17, 2015

Circular No. 188/7/2015-ST Dated the 16th November, 2015 F. No. 354/129/2015-TRU (Pt.) Government of India Ministry of Finance Department of Revenue (Tax Research Unit) *** Dated the 16th November, 2015. To Principal Chief Commissioners of Customs and Central Excise(All) Principal Chief Commissioners of Central Excise & Service Tax (All) Principal Director Generals of Goods and… Read More »

Circular for changes in All Industry Rates of Duty Drawback

By | November 17, 2015

Circular No. 29/2015-Customs F. No. 609/98/2015-DBK Government of India Ministry of Finance, Department of Revenue Central Board of Excise & Customs New Delhi, dated 16th November, 2015 To Principal Chief Commissioners / Chief Commissioners (All under CBEC) Principal Directors General / Directors General (All under CBEC) Principal Commissioners/Commissioners (All under CBEC) Subject: All Industry Rates… Read More »

Govt Amends Customs,Central Excise and Service Tax Drawback Rules 1995

By | November 17, 2015

[TO BE PUBLISHED IN THE GAZETTE OF INDIA,EXTRAORDINARY, PART-II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 109/2015-CUSTOMS (N. T.)  New Delhi, the 16th November, 2015  G.S.R.           (E). – In exercise of the powers conferred by section 75 of the Customs Act, 1962 (52 of 1962), section 37… Read More »

Govt notify All Industry Rates (AIR) of Duty Drawback w.e.f. 23.11.2015

By | November 17, 2015

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) New Delhi, the 16th November, 2015  Notification  No. 110/2015 – CUSTOMS (N.T.)  G.S.R.           (E).-  In exercise of the powers conferred by sub-section (2) of section 75 of the Customs Act, 1962… Read More »

Government notifies revised all industry rates of Duty Drawback

By | November 17, 2015

Ministry of Finance of Govt of India on 16-November, 2015 Government notifies revised all industry rates of Duty Drawback and other Duty Drawback related changes effective from 23rd November, 2015 The Central Government has notified the Schedule of revised All Industry Rates of Duty Drawback effective from 23rd November, 2015. These revised rates are based… Read More »