Newsletter dated 12th August, 2015

1. PGC NEWSLETTER 1
PGC
NEWSLETTER
12th
August, 2015
THOUGHT OF THE DAY
“Great dreams of great dreamers are always transcended…”
ECONOMIC UPDATES
 Indirect Tax Revenue (Provisional) collections have increased from Rs
40,802 crore in July, 2014 to Rs. 56,739 crore during July,
2015.Registering an Increase of 39.1% During the Month of July 2015 Over
the Corresponding Period in the Previous Year; Customs Collections
registered an increase of 23.2 % while Service Tax collections registered an
increase of 30.3% during the same period.
 The Special Investigation Team (SIT) probing black money has approved
compounding of offences under the Income-Tax Act for Indians holding
accounts in foreign banks, many of whom are facing prosecution for tax
evasion and concealment of income.
SEBI/CORPORATE UPDATES
 Vide SEBI Notification No.SEBI/LAD-NRO/GN/2015-16/007 dated 11
August, 2015 notified SEBI (Issue of Capital and Disclosure Requirements)
(Third Amendment) Regulations, 2015.
 Vide DGFT PUBLIC NOTICE NO. 58/2015-16 dated 10 August, 2015
notified procedure to be followed in case of registration of duty credit
scrips issued under Merchandise Exports from India Scheme (MEIS) and
Service Exports from India Scheme (SEIS).
RBI/TAX LAW UPDATES
 Vide DVAT CIRCULAR NO.18 of 2015-16 dated 7 August, 2015 notified
Extension of period of filing of online/hard copy of first quarter return for
the year 2015-16, in Form DVAT-16 ,DVAT-17 and DVAT-48 along with
required annexure/enclosures from 07/08/2015 to 17/08/2015.
 The Central Board of Direct Taxation (CBDT) may issue clarifications on
Place of Effective Management (POEM) rules in a week to resolve
ambiguities regarding overseas subsidiaries of Indian companies and tax
liabilities related to them.
HISTORICAL EVENT
 Computer giant IBM introduces its first personal computer in the Year
1981.
MARKET UPDATES
SENSEX
27,768.16 -97.93
CNX NIFTY
8,422.55 -39.80
DOLLAR/ RUPEE
64.76 0.53
MCX SILVER
34,325.00 -5.00
MCX GOLD
25,596.00 170.00
MCX CRUDE OIL
2,787.00 7.00
Dow Jones Industrial
average
17,402.84 -212.33
Nasdaq Composite
5,036.79 -65.01
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