Newsletter dated 21st January,2015

1. PGC NEWSLETTER 1
PGC
NEWSLETTER
21st
January, 2015
THOUGHT OF THE DAY
“ A positive attitude influences our behavior and dictates a
successful approach ...”
ECONOMIC UPDATES
 Requests for re-export of imported goods may be received when the said
goods are destined for elsewhere but which are inadvertently imported at a
particular Customs station. With a view to expedite decision-making in
respect of re-export of such goods, the CBDT has decided that the
permission for re-export may be granted on merit by the officer concerned
as per the adjudication powers. (Circular No. 04/2015-Customs dated
20.01.2015)
 Notification No. 03/2015 INCOME-TAX dated- 19th January, 2015 issued
by CBDT regarding Business Trusts to file details of income distributed to
unit holders by 30th November of the financial year following the previous
year during which such income is distributed in Form No 64A.
SEBI/CORPORATE UPDATES
 MCA has issued The Companies (Appointment and Qualification of
Directors) Amendment Rules, 2015 dated 19.01.2015.
 MCA has issued The Companies (Corporate Social Responsibility Policy)
Amendment Rules, 2015 dated 19.01.2015.
 Looking to garner funds to secure bail for its Chairman Subrata Roy,
Sahara Group is in advanced stages of tying up a financial package worth
nearly $2 billion (over Rs 12,000 crore) from US-based Mirach Capital
Group.
 Union Petroleum Minister Dharmendra Pradhan has asked RAW, the
country’s premier foreign intelligence agency, to investigate an alleged
“link” between the lawyers for Reliance Industries Limited (RIL) and the
umpire in the arbitration tribunal that’s adjudicating since 2011 in a
dispute over costs related to Panna, Mukta and Tapti (PMT) oil and gas
fields.
RBI/TAX LAW UPDATES
 Tax evasion could soon become a prosecutable offence inviting jail term
for offenders as the Supreme Court appointed special investigation team
(SIT) on black money has suggested this to the government and sought a
decision by March 31.
 CBEC has issued Instructions regarding issue of summons in Central
Excise and Service Tax matters on 20th January, 2015.
MARKET UPDATES
SENSEX
28,862.48 77.81
CNX NIFTY
8,697.75 2.15
DOLLAR/ RUPEE
61.69 -0.02.
MCX SILVER
39,925.00 403.00
MCX GOLD
27,038.00 238.00
MCX CRUDE OIL
2,916.00 -25.00
Dow Jones Industrial
average
17,515.23 3.66
Nasdaq Composite
4,654.85 20.46
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