The newsletter provides updates on the Indian economy, markets, and regulations. It notes that the government is considering a two-rate structure for goods and services tax (GST). It also announces that the Reserve Bank of India granted payment bank licenses to 11 companies, including telecom and pharmaceutical firms. Finally, it lists several regulatory announcements regarding insurance advertising, insider trading, customs duties, and taxes.

1. PGC NEWSLETTER 1
PGC
NEWSLETTER
20th
August, 2015
THOUGHT OF THE DAY
“The starting point of all achievement is desire…”
ECONOMIC UPDATES
 Government is considering two-rate structure; key services to be taxed at
lower rate in GST regime.
 RBI granted payment bank licences to 11 firms. This includes telecom
companies Vodafone and Airtel; non-banking financial company
Cholamandalam Distribution Services Ltd; large conglomerates Reliance
Industries and Aditya Birla Nuvo; and individuals Vijay Shekhar Sharma,
founder of Paytm, and Dilip Shanghvi, Managing Director of Sun
Pharmaceuticals.
SEBI/CORPORATE UPDATES
 Vide Master Circular IRDAI/LIFE/CIR/MISC/147/08/2015 dated August
13, 2015 issued guidelines relating to insurance advertisements.
 The Securities and Exchange Board of India has charged A R
Sankaranarayanan, a former independent director of Manappuram
Finance for alleged violation of insider trading rules.
RBI/TAX LAW UPDATES
 Vide CBDT Notification No. 76/2015-Customs (N.T.) dated August 18,
2015 notified Customs Baggage Declaration (Amendment) Regulations,
2015.
 Government has notified 'Challan No. ITNS 284' for depositing taxes
under Black Money Act.
 Vide Notification No. 5959/Leg. A2/2015/Law dated 29th July, 2015
notified that now Kerala VAT shall also be levied on goods sold by multi-
level marketing entities.
 Vide Notification No. F. No. 450/179/2009-Cus IV (Pt) dated August 19,
2015 issued detailed guidelines on processing, validation and certification
under the Authorized Economic Operator (AEO) Programme.
 Vide CBEC Notification No 43/2015-Cus (ADD), dated 18-08-2015
Government Seeks to extend notification No, 82/2011- Customs dated
25th August, 2011 for a further period of one year.
MARKET UPDATES
SENSEX
27,918.83 -12.81
CNX NIFTY
8,478.65 -16.50
DOLLAR/ RUPEE
65.02 -0.08
MCX SILVER
35,930.00 403.00
MCX GOLD
25,438.00 242.00
MCX CRUDE OIL
2,702.00 -8.00
Dow Jones Industrial
average
17,348.73 -162.61
Nasdaq Composite
5,019.05 -40.30
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