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Notifications/Circulars

Rate of exchange of conversion of foreign currency wef 30th September, 2015

September 29, 2015 859 Views 0 comment Print

Notification No.95/2015 – Customs (N.T.) In exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs hereby makes the following amendments in the Notification of the Central Board of Excise and Customs No. 93/2015-CUSTOMS (N.T.) dated the 17th September, 2015, with effect from 30th September, 2015, namely:-

ECB Policy – Issuance of Rupee denominated bonds overseas

September 29, 2015 5480 Views 0 comment Print

A.P. (DIR Series) Circular No.17 In order to facilitate Rupee denominated borrowing from overseas, it has been decided to put in place a framework for issuance of Rupee denominated bonds overseas within the overarching ECB policy. The broad contours of the framework are as follows:

Reg. Action initiated against officers responsible for serious lapses in furnishing remedial/corrective ATNs on Audit paras

September 29, 2015 862 Views 0 comment Print

No.1/20/2014 -MC/288 With reference to the above mentioned subject, it is stated that the Public Accounts Committee (16th Lok Sabha) have recommended vide Para No.16 of Report No, 20 that Ministry expedite the implementation of their Standing Audit Cammittee (SAC) recommendation to have action initiated against officers responsible for serious lapses in furnishing remedial/corrective ATNs on Audit paras. The Committee, further reiterating its earlier recommendation, desire that a system of fixing responsibility for serious lapses be put in place by all Ministries.

Tax Audit / Income tax due date extension order is FAKE : CBDT

September 28, 2015 20611 Views 0 comment Print

It has been brought to the notice of the Government that a fake order dated 26th September 2015 supposedly under section 119 of the Income-tax Act 1961 under the signature of one Upmanyu Reddy, Under Secretary to the Government of India is in circulation. The fake order extends the due date for filing of audit report under section 119 of the Income-tax Act to 15 October 2015.

100% EOU-DTA Clearance-conditions, safeguards& procedures for supply of items for export

September 24, 2015 15806 Views 0 comment Print

Central Excise-Notification No. 20/2015 CE (NT) Dated: 24-9-2015 -100% EOU – DTA Clearance – conditions, safeguards and procedures for supply of items like tags, labels, printed bags, stickers, belts, buttons and hangers for the purpose of their exportation out of India

Banknotes with new numbering pattern and special features for the visually impaired

September 24, 2015 555 Views 0 comment Print

Reserve Bank of India is issuing Banknotes in Mahatma Gandhi Series 2005 with a new numbering pattern and special features for the visually impaired in ₹ 100, 500 and 1000 denominations (images of banknotes enclosed).

Regularisation of Assets held Abroad by Person Resident in India under FEMA, 1999

September 24, 2015 879 Views 0 comment Print

In connection with the declarations made by persons resident in India under the provisions of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (Black Money Act), it is clarified that: No proceedings shall lie under the Foreign Exchange Management Act, 1999 (FEMA) against the declarant with respect to an asset held abroad for which taxes and penalties under the provisions of Black Money Act have been paid.

Export of manufactured final product under bond without payment of Excise duty under Rule 19 of Central Excise Rules, 2002

September 24, 2015 2015 Views 0 comment Print

Notification No. 20/2015-Central Excise (N.T.) Central Board of Excise and Customs hereby notifies the conditions, safeguards and procedures for supply of items like tags, labels, printed bags, stickers, belts, buttons and hangers (hereinafter referred as “specified goods”) produced or manufactured in an Export Oriented Undertaking (hereinafter referred to as “EOU”) and cleared without payment of duty to a Domestic Tariff Area (hereinafter referred to as “DTA”) unit in terms of Para 6.09 (g) of Foreign Trade Policy, 2015-20, for the purpose of their exportation out of India (hereinafter referred as “specified purpose”), namely:-

Companies (Management and Administration) Second Amendment Rules, 2015

September 24, 2015 1889 Views 0 comment Print

In the Companies (Management and Administration) Rules, 2014, in Form No. MGT-7, in paragraph I, under serial number (i), after Global Location Number (GLN) of the Company, the following shall be inserted, namely:- Permanent Account Number (PAN) of the Company.

Format for compliance report on Corporate Governance to be submitted to Stock Exchange (s) by Listed Entities

September 24, 2015 9586 Views 0 comment Print

Regulation 27(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations), specifies that the listed entity shall submit quarterly compliance report on corporate governance in the format specified by the Board from time to time to recognised Stock Exchange(s) within fifteen days from close of the quarter.

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