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Archive: 24 March 2011

Posts in 24 March 2011

Course on Mastering GST Sections Effortlessly with Memory Techniques!

November 28, 2024 6645 Views 0 comment Print

Simplify GST learning with memory techniques. Join live sessions, master CGST sections, and retain knowledge effortlessly. Register now for practical GST mastery!

Govt introduces Bill to give statutory power to PFRDA

March 24, 2011 510 Views 0 comment Print

Taking forward financial sector reforms, the government today introduced a long-pending PFRDA Bill in the Lok Sabha to give statutory status to interim pension regulator and promoting old age income security. The Bill, introduced by Finance Minister Pranab Mukherjee, provides for establishing a statutory regulatory body to be called the Pension Fund Regulatory and Development Authority (PFRDA), which will undertake promotional, developmental and regulatory functions in respect to pension funds.

Govt plans to keep track of companies with common addresses

March 24, 2011 1412 Views 0 comment Print

Concerned over growing corporate fraud, the government is considering to tighten its Early Warning System (EWS) to scrutinise activities of companies with same addresses and common directors. The Ministry of Corporate Affairs (MCA) plans to add two more parameters to its software-based fraud detecting system, called Early Warning System (EWS), which scans unusual developments in companies and alerts the Ministry of any possible wrongdoing.

Highlight of Maharashtra State Budget 2011-12

March 24, 2011 10016 Views 0 comment Print

Highlights Of The Budget Presented By Deputy Chief Minister Shri Ajit Pawar, On Wednesday, 23rd March 2011. PART-I + Remarkable growth in revenues of the State • 2009-10 Revenue Receipts Rs.86,910 crore, 2010-11 Revenue Receipts Rs. 1,07,159 crore

Transfer of Hon’ble ITAT Members (March 2011)

March 24, 2011 868 Views 0 comment Print

Income Tax Appellate Tribunal consisting of the President and two senior-most Vice-Presidents, the following Members of the Tribunal are hereby transferred in public interest, in the same capacity, to the Bench/es of the Income Tax Appellate Tribunal as shown against their names with effect from the forenoon of 1st April 2011. Shri. O. K. Narayanan, VP. Shri. N. Barathvaja Sankar, VP.

Introduction of Constitution Amendment Bill for implementation of GST

March 24, 2011 1319 Views 0 comment Print

The Union Finance Minister (FM) on 22 March 2011, introduced a Constitution Amendment Bill (the Bill) in the Lok Sabha to enable the implementation of ‘Goods and Service Tax’ (GST), an indirect tax regime that would subsume levies like excise, service tax and sales tax. The Bill seeks to amend the Constitution to authorise both the Centre and the States to levy taxes on supply of goods and services. This Bill is a culmination of three Draft Amendment Bills circulated by the Central Government – the First Draft dated 21 July 2010, the Second Draft dated 11 August 2010 and the Third Draft dated 28 January 2011.

Delegation of powers of Central Government to Regional Directors and Registrar of Companies

March 24, 2011 4166 Views 0 comment Print

Addition to list of powers and functions of the Central Government delegated to ROC: Earlier, the grant of license for formation of a company which intends to apply its profits or other income in promoting its objects (i.e. objects of promoting commerce, art, science, religion, charity or any other useful object) and prohibits payment of any dividend to its members [popularly known as section 25 company] was delegated to the RD. Now, such powers to grant license under section 25 has been delegated to the ROC.

Amends notification no. 20/2006 – Seeks to exempt certain specified goods from special CVD leviable on imported goods vide Notification No. 32 /2011-Customs

March 24, 2011 753 Views 0 comment Print

Notification No. 32 /2011-Customs- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act,1962 (52 0f 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.20/2006-Customs, dated the 1st March,2006, published in the Gazette of India, Extraordinary, vide number G.S.R.92 (E),dated the 1st March, 2006,

SEBI announces new Code of Conduct to check price manipulation

March 24, 2011 570 Views 0 comment Print

The regulator SEBI today announced a new set of Code of Conduct, including restricting access to Internet forums for employees, for market intermediaries to ensure that unsubstantiated news, which could distort normal functioning and prices of stocks, are not circulated. This comes in the wake of observations by the Securities and Exchange Board of India that unauthenticated news related to various scrips are circulated in blogs, chat forums or e-mails by employees of broking houses and other intermediaries in violation of rules.

Amends notification no. 21/2002 – Effective rate of duty on import of goods vide Notification No. 31/ 2011-Customs

March 24, 2011 1384 Views 0 comment Print

Notification No. 31/ 2011-Customs- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 21/2002-Customs, dated the 1st March, 2002, published in the Gazette of India, Extraordinary vide number G.S.R.118 (E), dated the 1st March, 2002, namely:-

Banks to have extended working hours on March 30, 31- RBI

March 24, 2011 2341 Views 0 comment Print

The Reserve Bank of India asked banks to have extended working hours on March 30 and 31, 2011, to facilitate receipt of government revenue from members of public even at late hours. It has been decided in consultation with the Controller General of Accounts that all regional offices of RBI and branches of agency banks conducting government business will suitably extend the banking hours to conduct government business by keeping their counters open for the purpose on March 30 and 31, 2011, the central bank said in a statement.

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