Initial Public Offering (IPO) process streamlined to, reduce time period for listing of issues from T+12 days to T+6 days, increase reach of retail investors to access the IPO and reduce the cost of public issues. With this issuers will have faster access to the capital raised and investors will have early liquidity.
It has been observed that substantial number of registered dealers have not filed their returns for the financial years 2012-13 and 2013-14. This may be on account of no business activity by them during these years or the business may have been closed down permanently or the business being conducted in a clandestine manner with tax evasion motive. In all these cases, the chances of misuse of registration facility cannot be ruled out. Sub-section (4) of section 16 of the RVAT Act, 2003, provides for cancellation of certificate of registration in certain cases in particular:-
SION for (Golf Gloves made of Knitted/Crocheted/Woven/Non-woven fabrics) in the Textiles Product (Product Code: J) is being notified. Before this there was no SION for this export product.
In exercise of powers conferred under paragraph 2.04 of the Foreign Trade Policy, 2015-20, the Director General of Foreign Trade hereby inserts Appendix 2N-1 in the Appendices and Aayat Niryat Forms of the Handbook of Procedures, 2015-20, as annexed to this Public Notice, prescribing a new Bank Guarantee Format, to be executed with DGFT, for recognition as Pre-Shipment Inspection Agency.
Notification No. 49/2015 – Income Tax Dated: June 22, 2015 S.O. 1660 (E).– In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-
Instructions have been issued from time to time with regard to the need to observe punctuality by Government servants. Responsibility for ensuring punctuality in respect of their employees rests within Ministries/ Departments/ Offices.
The CBDT has vide Order No. 89 of 2015 dated 19.06.2015 ordered the transfer and posting of 59 officers in the grade of Additional and Joint Commissioners of Income Tax in the Directorates/ International Taxation & Transfer Pricing and CBDT with immediate
Letter F.No. 275/65/2013-CX.8A dated 19.06.2015 regarding Procedural Clarification in respect of the issues relating to the ‘authorization’ of the Commissioners to represent the Union Of India and Others in matters before the High Court.
CBDT has lately noticed that terms of Instruction No. 20/2003, dated 23.12.2003(copy enclosed) on the subject mentioned above are not being adhered to. The operative part of the Instruction is reproduced below for ready reference;
Letter F.No. 275/72/2014-CX.8A dated 19.06.2015 regarding Creating Awareness of the provisions relating to Settlement of Cases through Settlement Commission, by informing the noticee about the said provisions by a follow up letter after issuance of Show Cause Notice
