Newsletter dated 27th May,2015

1. PGC NEWSLETTER 1
PGC
NEWSLETTER
27th
May, 2015
THOUGHT OF THE DAY
“Life is like an ocean; sometimes calm and sometimes stormy but still It
has beauty...”
ECONOMIC UPDATES
 The Finance Bill, 2015, received consent from the President on 14 May
2015. The changes proposed in the bill have been accepted and the
effective date for some of these is 1 June 2015. The new rate of service tax,
and tax deducted at source (TDS) on recurring deposit interest are two of
these.
 Union finance minister Arun Jaitley on Tuesday indicated that Goods and
Service Tax (GST) could come into force earlier than expected. Jaitley said
that GST could be implemented in the country from as early as January 1,
2016.
SEBI/CORPORATE UPDATES
 The secretarial standards issued by Institute of Company Secretaries of
India (ICSI), which are intended to ensure transparency and better
governance, will surely result in additional administrative burden on the
Secretarial team of Companies. Companies will have to ensure availability
of documents at their Registered Office, Head Office as well as Corporate
Office at the time of general meetings. Such Companies will also ensure
maintaining Notice Board duly updated from time to time.
 All the Non-Banking Financial Institutions/Companies registered with
MCA are requested to comply with the requirement of section 45-IA of the
RBI Act, 1934, if applicable to them. Kindly visit the link to the RBI
website https://www.rbi.org.in/Scripts/FAQView.aspx?Id=71 External
Link and follow all necessary procedures therein.
 SEBI has issued Master Circular for Stock Exchange and Clearing
Corporation. This Master Circular is a compilation of the
circulars/communications issued by SEBI up to April 15, 2015.
RBI/TAX LAW UPDATES
 Vide Circular no. 17/2015 - Customs dated 26th May 2015 issued by CBEC
Regarding Import, trading & re-export of rough diamonds by notified
entities in Bharat Diamond Bourse, Bandra Kurla Cargo Complex,
Mumbai.
 Vide Notification No. 28/2015 - Central Excise dated 15th May, 2015
issued by CBEC Govt. tweaks scheme for goods procured by EOUs.
MARKET UPDATES
SENSEX
27,477.66 -53.75
CNX NIFTY
8,313.40 -25.95
DOLLAR/ RUPEE
63.97 -0.02.
MCX SILVER
38,564.00 54.00
MCX GOLD
26,914.00 22.00
MCX CRUDE OIL
3,776.00 51.00
Dow Jones Industrial
average
18,041.54 -190.48
Nasdaq Composite
5,032.75 -56.61
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