Newsletter dated 21st August, 2015

1. PGC NEWSLETTER 1
PGC
NEWSLETTER
21st
August, 2015
THOUGHT OF THE DAY
“ The secret of success is the consistency to pursue …”
ECONOMIC UPDATES
 Cabinet approves of signing and ratification of 'Tax info exchange
agreement' with Seychelles. The agreement is aimed to stimulate exchange
of information between India and Seychelles for tax purposes, for curbing
the tax evasion and avoidance.
SEBI/CORPORATE UPDATES
 Vide MCA Notification dated 19.08.2015 Finalized National Company Law
Tribunal service condition Rules of President and Members – which are
yet to be notified.
 Vide MCA Notification dated 19.08.2015 Finalized National Company Law
Appellate Tribunal service condition Rules of Chairperson and Members –
which are yet to be notified.
 Companies have started to plan ahead to ensure a smooth transition, as
Indian firms transition towards a new system of auditor rotation, which
comes into effect in April 2017, Forty-two companies have already
appointed new auditors or have brought on board a second auditor
starting from the current financial year to ease the transition process.
 SEBI Issues Consultation Paper for "Amendments to the SEBI
(Infrastructure Investment Trusts) Regulations, 2014"
RBI/TAX LAW UPDATES
 Vide DVAT Circular No. 20 Of 2015-16 dated August 19, 2015 notified
rules regarding registerd dealer to furnish additional security for an
amount equal to 0.1% of the maximum of the quantified turnover.
 Vide Press Release: 2015-2016/448 dated Aug 20, 2015, RBI Committee
suggests Way Forward for UCBs. Suggestions and comments on the Report
may please be forwarded by Sep 18, 2015.
 Vide Instruction F. No. 137/46/2015-ST dated August 18, 2015 CBEC
clarifies on SCN issuance & proceedings conclusion as per amended penal
provisions in Service Tax and Central Excise
HISTORICAL EVENT
 Sergey Brin, “co-founder of Google” Borns in the Year 1973.
MARKET UPDATES
SENSEX
27,273.70 -334.12
CNX NIFTY
8,272.40 -100.35
DOLLAR/ RUPEE
65.84 0.29
MCX SILVER
36,700.00 390.00
MCX GOLD
27,170.00 321.00
MCX CRUDE OIL
2,709.00 -45.00
Dow Jones Industrial
average
16,990.69 -358.04
Nasdaq Composite
4,877.49 -141.56
http://www.proglobalcorp.com