Indirect Tax
In
exercise of the powers conferred by section 14 of the Customs Act, 1962
(52 of 1962), and in super session of the notification of the Central
Board of Excise & Customs No.106/2015-CUSTOMS (N.T.), dated
5th November, 2015, except as respects things done or omitted to be done
before such supersession, the Central Board of Excise & Customs
hereby determines that the rate of exchange of conversion of each of the
foreign currencies specified in column (2) of each of Schedule [….]
Read more at:
http://www.cbec.gov.in/htdocs-cbec/customs/cs-act/notifications/notfns-2015/cs-nt2015/csnt112-2015
CBEC Notifies Shahebganj and Haldibari in Cooch Behar as Land Customs Stations
In exercise of the powers conferred by clauses (b) and (c) of sub – section
(1) of section 7 of the Customs Act, 1962 (52 of 1962), the Central
Board of Excise and Customs hereby appoints the places in column (2) of
the TABLE below as Land Customs Stations for the purpose of clearance of
baggage of Indian enclave dwellers coming from Bangladesh to India
through the routes specified in column (3) of the TABLE below, namely:-
(a)Road connecting Shahebganj in Cooch Behar, West Bengal, India and
[….] Read more at:
Exchange Rate Notification No.112/2015-Customs (NT) Dated 19.11.2015
http://www.cbec.gov.in/htdocs-cbec/customs/cs-act/notifications/notfns-2015/cs-nt2015/csnt112-2015
SEBI
No restriction on ESOPs given to independent directors: Sebi
Capital
markets regulator Sebi today said independent directors can exercise
their ESOP (employee stock ownership plan) granted to them earlier. The
restrictions on grant of ESOPs applies only on fresh ones issued after
new Sebi's guidelines in this regard. While independent directors were
earlier entitled for employee stock options, Sebi's new listing norms
have restricted these ESOPs. As per latest Frequently Asked Questions
(FAQs) note from Sebi, "the restriction on grant of ESOP [….] Read
more at:
Sebi directs United Cosmetics to refund investors' money
Markets
regulator Sebi today ordered United Cosmetics Manufacturing to refund
investors' money which it has illegally raised by issuing redeemable
preference shares (RPS). Besides, Securities and Exchange Board of India
(Sebi) has barred the firm and its directors from the capital markets
till further orders. A Sebi probe found that the company had mobilised
Rs 3.84 crore by issuing RPS to more than 2,955 individuals during
2006-07, 2008-09, 2009-2010 and 2013-14. It further sa [….] Read
more at:
Sebi bans two firms in investor complaint cases
Capital
market regulator Sebi today barred two companies -- Stellar Drugs
and Pinky Chemicals -- from the securities market until they resolve all
pending investor grievances against them. Further, the ban will
continue until they get registered with Sebi's online complaint system
SCORES. In similar-worded orders, Sebi has restrained the two firms
from "accessing the securities market and from buying, selling or
dealing in securities, directly or indirectly, in whatsoever manner,
till it [….] Read more at:
Economy & News
India betters gender gap rank; Rwanda, Philippines among top 10
India
has improved its performance in a global gender gap measure that tracks
relative divide between men and women across four key areas: health,
education, economy and politics. The World Economic Forum's Global
Gender Gap Index placed India 108th out of 145 countries, up six notches
from last year's ranking. Having more than doubled the number of women
in ministerial positions (from 9% to 22%), the country registered
notable progress in representation of women in political leadershi
[….] Read more at:
UK joins hands with govt to develop three smart cities in India
The
British Government has selected two cities of Maharashtra and one from
Madhya Pradesh for developing them as 'Smart City', British Deputy High
Commissioner, Mumbai, Kumar Iyer said today. The cities in Maharashtra
include Pune and Amravati and Indore in Madhya Pradesh. "It would be our
endeavour to develop these cities as smart cities for improved traffic,
better education, and infrastructure after preparing a master plan in
near future," Iyer told a press conference here. Each [….] Read more
at:
Government to bring national fodder policy: Agriculture Minister Radha Mohan Singh
Faced
with fodder shortage in the country, Agriculture Minister Radha Mohan
Singh today said the government will bring out a national fodder policy
to boost domestic production. There is a need to make law to stop
burning of the crop residues in the field to increase fodder
availability and protect environment, the minister said. "Fodder sources
in India are from crop residues, cultivated fodder, forages and
forests, permanent pastures and grazing lands. Currently, India is
facing a [….] Read more at:
India poised for one of highest growth in emerging Asia: OECD
Boosted
by an improved business environment, Indian economy is projected to see
"one of the highest levels" of growth among emerging Asian countries, a
report by Paris-based think tank OECD said today. While projecting an
economic expansion of 7.2 per cent for this year and 7.3 per cent next
year for India, OECD noted that large non-performing loan is a potential
barrier to continued growth. "Real growth in Emerging Asia is projected
to average 6.5 per cent for 2015 and 6.2 per cent [….] Read more
at:
Two-wheeler sales to grow 5%, durables by 1.5%: Crisil
Rating
company Crisil expects cars and two-wheeler sales to grow 4-5%
incrementally while consumer durables like TV, fridge, washing machines,
home appliances would expand sales by additional 1-1.5% in the next
fiscal year. The Seventh CPC to boost sales of passenger vehicles and
two-wheelers by 4-5% incrementally in fiscal 2017, said Crisil Research.
"Small cars are expected to benefit the most because aspirational
purchases will get a boost, followed by the scooter segment, since most
empl [….] Read more at:
Thanks & Regards,
Meetesh Shiroya
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