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Archive: March, 2017

Posts in March, 2017

VAT Implementation in UAE

March 15, 2017 3519 Views 1 comment Print

VAT is expected to be introduced IN UAE at a rate of 5% on 1 January 2018, with some limited exceptions including basic food items, healthcare and education.

SEBI releases updated format of draft offer letter under takeover code

March 15, 2017 1791 Views 0 comment Print

It has been decided, in consultation with market participants, to revise the time period for which information is required to be filed with SEBI, in line with the provisions relating to maintenance of records under the Companies Act, 2013. The format and instructions prescribed vide aforementioned Circular shall stand modified as given at

SEBI permits Celebrity endorsements of Mutual Funds at industry level

March 15, 2017 3123 Views 0 comment Print

SEBI decided to permit celebrity endorsements at industry level, for the purpose of increasing awareness of Mutual Funds as a financial product category.

GST Enrollment migration of existing registered Assessees

March 15, 2017 4632 Views 0 comment Print

The GST Law is expected to be implemented by 1st July 2017. The GTSN – the technology wing of GST is working relentlessly and undertaking the testing of the software on a regular basis. The Government, for once, seems to be far ahead of the industry with its planning and cautious measures to implement GST […]

Draft IRDA (Preparation of Financial Statements of Insurers) Regulations, 2017

March 15, 2017 3699 Views 0 comment Print

In order to address the implementation issues, the Authority had constituted the Implementation Group on Ind-AS in Insurance Sector in India. The group has submitted its report on 30th December 2016.

Fair Value of “Operating Leases” when acquisition of a Business – Ind-As/ IFRS

March 14, 2017 4149 Views 1 comment Print

Acquisitions of new businesses are quite common strategies for any business to leverage its exisiting competencies or to achieve an economy of scale. Apart from various valuation analysis that are being done while finalizing any new business acquisition decisions

FDI in trading of Food Products

March 14, 2017 1233 Views 0 comment Print

Ministry of Food Processing Industries has held three meetings on 17.03.2016, 03.08.2016 and 27.02.2017 with Ambassadors and High Commissioners in India of various foreign countries namely Australia, China, Canada, France, Indonesia, Japan, Korea, Netherland, Poland, Russia, Singapore, UK, New Zealand, UAE, Thailand, Germany, Belgium, Brazil, USA, Malaysia, Mexico, Switzerland, Spain and Italy. These meetings were […]

Mandatory for Hospitals to issue detailed bills to patients & to separately disclose cost of Coronary Stents

March 14, 2017 1686 Views 0 comment Print

National Pharmaceuticals Pricing Authority (NPPA), has directed hospitals to issue detailed bills to the patients, specifically and separately mentioning the cost of the Coronary Stents, along with the brand name of the manufacturer and importer, batch number and other details.

Service Charges are Discretionary/ Voluntary

March 14, 2017 1296 Views 0 comment Print

The Ministry of Consumer Affairs, Food and Public Distribution has issued advisory to all the State Governments/UTs to sensitise the companies, hotels and restaurants in the state regarding the relevant provisions of the Consumer Protection Act, 1986 on unfair trade practices

Existence of deposit in bank not mandatory on PMGKY payment date

March 14, 2017 7755 Views 0 comment Print

Representations received seeking clarification as to whether deposits made in bank account or cash in hand which are eligible for being declared under the PMGKY Scheme should exist on the date of filing of declaration under the Scheme.

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