public comments

The commerce ministry has proposed measures to make it easier for developers to exit special economic zones (SEZs) that have been struggling with a contraction in global demand for goods produced at the tax-free enclaves. Specific provisions for the de-notification of SEZs have been been put up for public comments till Thursday, after which they would be formally notified. Full Article

The draft Direct Tax Code Bill, 2009 (DTC or Code) was released for public comments by the Government of India (Government) on 12 August 2009. The stated objective of the DTC is to establish an economically efficient, effective and equitable direct tax system which will facilitate voluntary compliance and reduce the scope for disputes and minimize litigation. Full Article

The Reserve Bank of India has, today, placed on its website the draft guidelines on OTC Foreign Exchange Derivatives and Hedging Commodity Price Risk and Freight Risk overseas (Annex) for public comments. Full Article