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Archive: 04 October 2016

Posts in 04 October 2016

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6459 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

List of Holidays for Central Government Offices for Year 2017

October 4, 2016 19564 Views 0 comment Print

It has been decided that the holidays as specified in the Annexure-I to this O.M. will be observed in all the Administrative Offices of the Central Government located at Delhi/New Delhi during the year 2017. In addition, each employee will also be allowed to avail himself/herself of any two holidays to be chosen by him/her out of the list of Restricted Holidays in Annexure-II

Corporate Governance Issues in Compensation Agreements

October 4, 2016 1087 Views 0 comment Print

It is not unusual for private equity funds to incentivize promoters/ MDs/ CEOs of investee companies, based on performance of such companies. However, when such reward agreements are executed between the private equity investor and the Promoter/ MD of the listed entity without any prior approval of the shareholders, it does give rise to concerns. It could potentially lead to unfair practices.

Delhi VAT Circular No. 16 of 2016-17 Dated: 04/10/2016

October 4, 2016 847 Views 0 comment Print

Circular no 15 of 2016-17 dated 03/10/2016 related to Speedy disposal of all refund claims stands withdrawn and shall be considered void ab initio.

Competition Advocacy- Competition Compliance

October 4, 2016 5829 Views 0 comment Print

1. COMPETITION COMPLIANCE COMPETITION COMPLIANCE PROGRAMME FOR ENTERPRISES A Suggested Framework for compliance of the Competition Act, 2002, [the Act] by Enterprises I. COMPLIANCE ARRANGEMENTS BY ENTERPRISES Meaning and Scope of Competition compliance Competition compliance programme (CCP) is a formal internal framework to ensure business, i.e., the management and individual employees, comply with competition law voluntarily. […]

Guidelines for prosecution of offences punishable under Customs Act, 1962

October 4, 2016 5512 Views 0 comment Print

Stage for launching of prosecution: Normally, prosecution may be launched immediately on completion of adjudication proceedings. However, prosecution in respect of cases involving offences relating to items i.e. Gold, FICN, arms, ammunitions and explosives, antiques, art treasures, wild life items and endangered species of flora and fauna may preferably be launched immediately after issuance of show cause notice

RBI reduces repo rate by 25 basis points to 6.25 per cent

October 4, 2016 1384 Views 1 comment Print

Please refer to the Fourth Bi-monthly Monetary Policy Statement, 2016-17 – Resolution of the Monetary Policy Committee (MPC), in terms of which the repo rate under the Liquidity Adjustment Facility (LAF) has been reduced by 25 basis points from 6.5 per cent to 6.25 per cent with immediate effect.

Fourth Bi-monthly Monetary Policy Statement, 2016-17- Key Rates reduced by 25 basis points

October 4, 2016 772 Views 0 comment Print

On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 6.5 per cent to 6.25 per cent with immediate effect.

Statement on Developmental and Regulatory Policies RBI

October 4, 2016 805 Views 0 comment Print

This Statement reviews the progress of various developmental and regulatory policy measures announced by the Reserve Bank in recent policy statements and sets out new measures to be taken for further strengthening the banking structure; broadening and deepening financial markets

Delayed, incomplete or incorrect filing of Import Manifest or Import Report

October 4, 2016 5470 Views 0 comment Print

It was provided that need for adjudication will arise only in cases of major amendment involving fraudulent intention or substantial revenue implication. It was the view of the CBEC that the penal action is not initiated mechanically in all cases of IGM amendment and that due consideration may be given to the circumstances of amendment.

Expenditure for obtaining right to use spectrum for telecom services

October 4, 2016 2977 Views 0 comment Print

(a) where an assessee has opted and been allowed by the Department of Telecommunications, Government of India to make full upfront payment of spectrum fee, the actual payment of expenditure irrespective of the previous year in which the liability for the expenditure was incurred according to the method of accounting regularly employed by the assessee;

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