"21 February 2017" Archive

CBI Arrests three Central Excise Officials in a bribery case

The Central Bureau of Investigation has arrested two Superintendents and an Inspector, all of Central Excise, Audit Department(Govt. of India), Murthal, District- Sonepat (Haryana) while demanding & accepting bribe of Rs.Three lakh from the complainant....

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Posted Under: Excise Duty |

CBDT amends Section 138 with effect from 23.05.2003

Notification No.12/2017-Income Tax (21/02/2017)

In order to remove any ambiguity in interpretation of the said notification, Central Government, with retrospective date, has decided to clarify that clause (ii) of the proviso in the notification dated 23/05/2003 would mean the disclosure of any information in accordance with the provisions of section 138(1) from time to time....

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Pharma industry to reach USD 55 bn in 3 years; medical tourism major growth driver

Indian pharmaceuticals market is expected to touch US$ 55 billion by 2020 from the current level of US$ 36.7 billion in 2016 growing at a compound annual growth rate (CAGR) of 15.92 per cent, according to ASSOCHAM-IITTM joint study....

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Posted Under: Excise Duty |

Learning from UK to create successful innovation ecosystem in India

(21/02/2017)

Startup report from FICCI cites learnings from the UK to create successful innovation ecosystem in India. A major report on the vibrancy of the startup ecosystem in the UK and its lessons for India’s developing startup scene was launched today....

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Posted Under: Excise Duty |

Food processing sector to generate 9 million jobs by 2024

Indian food processing sector has potential to attract US$ 33 billion of investment and generate employment of 9 million persons days by FY 2024, said an ASSOCHAM-Grant Thorton Research paper. ...

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Posted Under: Excise Duty |

ICAI forms Group to formulate its Foreign Travel Policy

No.M-626/2017 (21/02/2017)

The President, in terms of the authority given to him by the Council at its 363rd meeting held on 12th February, 2017, has constituted a Group for formulating Foreign Travel Policy of the Institute, with the following composition...

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Posted Under: Excise Duty |

ICAI Group to consider study circles structure & means to obtain PAN, TAN, Service Tax registration

No.M-626/2017 (21/02/2017)

ICAI has constituted a Group for considering the entire structure of study circles, exploring ways and means to obtain independent PAN, TAN, Service Tax registration and other statutory compliances ...

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Posted Under: Excise Duty |

Standard Operating Procedure for protection and care of children in street situations launched

A Standard Operating Procedure (SOP) for Care and Protection of Children in Street Situations for their rehabilitation and safeguarding was released by Minister for Women & Child Development, Smt Maneka Sanjay Gandhi in New Delhi today....

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Posted Under: Excise Duty |

New Format for Reporting Road Accidents

Ministry of Road Transport’s New Format for Reporting Accidents.An expert committee was constituted by Ministry of Road Transport and Highways to review the format for reporting of road accidents....

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Posted Under: Excise Duty |

Future of real estate sector is in affordable housing: Naidu

Minister of Housing & Urban Poverty Alleviation Shri M.Venkaiah Naidu today urged real estate developers to take up affordable housing projects in a big way while stressing that therein lies the future of the real estate sector. Elaborating on his statement...

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Posted Under: Excise Duty |