The government is likely to introduce a Bill that seeks to make it mandatory for all micro-finance institutions to be registered with the Reserve Bank of India and entrusts the task of regulating the sector to the central bank in the Winter Session of Parliament. The Finance Ministry is in discussion with all concerned stakeholders for fine-tuning the draft Micro Financial Sector (Development and Regulation) Bill, 2011, official sources said.
The contribution of the CBEC towards nation-building, especially as the revenue collecting arm of the government should be appreciated in the correct perspective. He underlined the virtues of courage and commitment in the due discharge of the duties performed by all members of the organisation. He also underscored that the senior officers should lead by example in their conduct and performance to promote integrity and efficiency. The officers and staff should also take the lead in educating members of the trade and public on the virtues & necessity of fair and transparent dealings with the tax administrators.
This event has become closely identified with the performance assessment of the state of Indian States on a number of well reasoned parameters. It gives this event certain glamour, some mystique and it may also be fuelling some exam like anticipation of good results, especially among some of my ministerial colleagues from different States who are here. This is no doubt good for garnering ‘media attention’ and as they say for the TRPs. I think it is also good for the health of Indian polity.
Singapore’s agreement with Spain for the avoidance of double taxation (DTA) will come into force on 1 February 2012. The agreement is Singapore’s 68th DTA and will encourage and facilitate cross-border trade and investment between Singapore and Spain, by providing greater clarity on taxing rights and minimising the scope of double taxation between the two […]
Exports of as many as 68 services, including banking and asset management, will be eligible for refund of service tax, as per a draft circular issued by CBEC on 28.10.2011. The Central Board of Excise and Customs (CBEC) in order to streamline the process of sanctioning of refund claims arising on account of service tax on input services that have gone into exports of services, has sought public comments by November 30 on the draft circular.
Applicability of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 – SEBI vide its Notification No. LAD-NRO/GN/2011-12/24/30181 dated September 23, 2011 notified the New SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 replacing the Takeover Regulations namely SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997.
The Union Finance Minister , Shri Pranab Mukherjee has emphasized on the need to increase trade facilitation in customs . He was addressing the third meeting of the Consultative Committee attached to the Ministry of Finance during inter-session period of Parliament 2011, here yesterday. The subject matter of the meeting was Trade facilitations in customs.
The Income Tax Department today conducted searches at the premises of prominent industrialist Gautam Singhania here and in Delhi over alleged tax evasion. The I-T operation began early in the morning and was initiated by the Intelligence Wing of the department.
Department of Administrative Reforms and Public Grievances has prepared a Draft Bill called “Citizens Right to Grievance Redress Bill, 2011”. This is a comprehensive rights based bill for the citizens of the country, providing statutory backing for getting timely services and goods specified in citizens charters of public authorities from Gram Panchayat, Block, District, State […]
Oil companies today yet again hiked petrol prices by Rs 1.80 per litre to offset the fall in rupee that has made imports of crude costlier. After today’s increase, petrol in Delhi will cost Rs 68.64 a litre. The rates will vary in other cities according to local levies. This is the second hike in petrol prices in […]
