"22 August 2016" Archive

Appointment of Common Adjudicating Authority by DGRI

Notification No. 1/2016-Customs (N.T./CAA/DRI) 22/08/2016

Director General, Revenue Intelligence, hereby appoints officers mentioned in column (5) of the Table below to act as a common adjudicating authority to exercise the powers and discharge the duties conferred or imposed on officers mentioned in column (4) of the said Table in respect of noticees mentioned in column (2) of the said Table fo...

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All you need to know about Exclusions in Your Health Insurance Policy

In almost all cases, where claims are rejected, the main reason is lack of knowledge about the insurance policy. The claims are usually refused depending upon the points mentioned in the policy documents....

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Posted Under: Custom Duty |

How to get better investment returns than your friends or others?

In order to invest at a right place, you need to understand few things first. You should be aware about your motive to invest. Generally, we all aim to secure our future by investing into shares and mutual funds. Mutual funds are more secure than shares but also are little slower when it comes to return on investment....

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Posted Under: Custom Duty |

Reporting on Internal Financial Controls- Application of SA 265

Reporting on Internal Financial Controls under Clause (i) of Subsection 143(3) of the Companies Act, 2013- Application of principles of SA 265- SA 265 guides the auditor on how to determine if there are deficiencies in internal control and how these deficiencies observed by him could be considered as significant and the manner of communic...

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Posted Under: Custom Duty |

Promotion of 89 officers to the grade of JCIT – reg.

Order No. 149 of 2016 22/08/2016

The President is pleased to promote the following officers of Indian Revenue Service to officiate on regular basis in the grade of Joint Commissioner of income Tax in the Pay Band 3 - Rs.15,600 - 39,100 + (7,600-Grade Pay) (pre-revised) with immediate effect:-...

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Report on Development of Corporate Bond Market in India

It has been well recognized that a well-developed corporate bond market complements a sound banking system in providing an alternative source of finance to the real sector for its long-term investment needs. An active corporate bond market also helps in the diversification of risks in the financial system...

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Posted Under: Custom Duty |

Govt invites suggestion on Manual for Procurement of Good

Notice No.F.17/6/2014-PPD 22/08/2016

The Manuals on Policies and Procedures for Purchase of Goods. Works and Consultancy were issued by this Department in 2006. These Manuals were prepared in conformity with the General Financial Rules, 2005 and contained broad generic Guidelines. To suit their local/specialized needs, Ministries / Departments were to supplement these manual...

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Dr. Urjit R Patel appointed as New RBI Governor

Dr. Urjit R Patel has been appointed as the New Governor of Reserve Bank of India (RBI) for a period of three years with effect from 4th September, 2016. He will replace the present RBI Governor Dr. Raghuram Rajan. Dr Patel is presently the Deputy Governor of RBI and is holding this assignment since 2013....

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Posted Under: Custom Duty |

Law of Disqualifications for Appointment of Directors: Analysis

Amitav Ganguly Background The Board of Directors {Board} of a company is its highest decision making organ. However the shareholders’ jurisdictions always exist as per the scheme of the Company jurisprudence. The directors constituting the Board act collectively, as well as individually, depending upon the position they hold and the...

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Posted Under: Custom Duty |

Provisional Assessment U/s. 18 of Customs Act, 1962-Guidelines

Circular No. 38/2016-Customs 22/08/2016

The Customs (Provisional Duty Assessment) Regulations 2011 issued under notification no. 81/2011 – Customs (NT) dated 25.11.2011 were reviewed in view of references from the field formations regarding guidelines on the implementation of Regulation 2(2) and Regulation 4....

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