PGC Newsletter dated 22nd December,2014

1. PGC NEWSLETTER 1
PGC
NEWSLETTER
22nd
December, 2014
THOUGHT OF THE DAY
“The goal of education is the advancement of knowledge and the
dissemination of truth...”
ECONOMIC NEWS
 Deadline to exchange pre-2005 currency notes ends on January 1,
People have only 11-days left to exchange currency notes of various
denominations, including 500 and 1,000, which were printed before
2005.
 To boost to India's special economic zones (SEZs), the government is
set to reduce the minimum alternate tax (MAT) on special economic
zones (SEZ) from 18.5 per cent to 7.5 per cent. The move is expected to
be announced in the Budget for next financial year.
 Finally, The Constitution (122nd Amendment) Bill, 2014 - Accelerating
pace for GST in India
SEBI/CORPORATE UPDATES
 SEBI bars 260 entities from mkt; suspects money laundering While
SEBI would further probe these cases, it has also decided to refer the
matter to the Income Tax Department, Enforcement Directorate,
Financial Intelligence Unit, among other agencies, for necessary
actions on their part.
 Finance Ministry reiterates its stand to introduce Ind AS; working on
its implementation.
 Finance Ministry tables long pending GST bill in Parliament.Liquor
kept out of GST, petrol and diesel included within its ambit
RBI / TAX LAW UPDATES
 Circular No. 15/2014 (Customs) ref F.No.605/144/2013-DBK issued
by Central Board of Excise & Customs dated the 18th December, 2014
regarding Norms for Execution of Bank Guarantee in respect of
Advance License/Export Promotion Capital Goods (EPCG) Schemes
 Circular No. 16/2014 (Customs) ref F.No. 605/75/2014-DBK issued by
Central Board of Excise & Customs dated 18th December, 2014 reg
Re-warehousing of goods imported and/or procured indigenously by
EOU/EHTP/STP/BTP units
 Circular No. 17/2014 (Customs) ref F.No.605/75/2014-DBK issued by
Central Board of Excise & Customs dated 18th December, 2014 reg
Authentication of supply invoice/ ARE-3 by the Central Excise
Authorities for Claiming Deemed export benefits
MARKET UPDATES
SENSEX
27,414.16 42.32
CNX NIFTY
8,237.95 12.75
DOLLAR/ RUPEE
63.14 -0.18.
MCX SILVER
36,979.00 424.00
MCX GOLD
26,947.00 -51.00
MCX CRUDE OIL
3,647.00 80.00
Dow Jones Industrial
average
17,804.80 26.65
Nasdaq Composite
4,765.38 16.98
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