Newsletter dated 26th May,2015

1. PGC NEWSLETTER 1
PGC
NEWSLETTER
26th
May, 2015
THOUGHT OF THE DAY
“Respect is earned; Honesty is appreciated; Trust is gained and Loyalty
is returned ...”
ECONOMIC UPDATES
 The income tax department seems to be finding ways to expedite the
process of linking permanent account number (PAN) with the unique
identity number Aadhaar, a step that could eliminate duplicate PANs and
assist the government in taking action against those evading tax.
 Government banks to stay closed on 2nd and 4th Sat from July. Indian
Banks’ Association (IBA) has also signed a wage settlement pact with the
United Forum of Bank Unions and a few others, for a 15 per cent increase
in salary and allowances to about a million employees. The wage revision
is with effect from November 1, 2012, and is valid for five years. PSBs are
expected to begin to pay the arrears from this month, Bhasin said
 There is a need to make the State Level Coordination Committees (SLCCs)
more active and effective even though the progress made by them is
satisfactory with regard to holding quarterly meetings, according to RBI.
SEBI/CORPORATE UPDATES
 SEBI has issued FAQ’s on SEBI (Foreign Portfolio Investors) Regulations,
2014.
 Last date to file Annual Return of LLP in Form 11 for Financial Year 2014-
15 is 30th May, 2015. After that Penalty of Rs.100 per day.
 Vide Public Notice No. 14(RE 2013)/2009-14 dated 25th May, 2015 issued
by DGFT, it is clarified that The ANF 3B-2 shall be filed for claiming
benefit under the Served from India Scheme (SFIS) for the year 2014-15.
RBI/TAX LAW UPDATES
 Vide Notification No. 30/2015-Central Excise dated 25th May, 2015 issued
by CBEC whereby amendments in notification No. 22/2003-Central
Excise, dated the 31st March, 2003.
 Vide Notification No. 21/2015-Customs (ADD) dated 22nd May, 2015
issued by CBEC Seeks to levy definitive anti-dumping duty on imports of
Cast Aluminium Alloy Wheels or Alloy Road Wheels, originating in or
exported from People’s Republic of China, Korea RP and Thailand for a
period of five years from the date of imposition of the provisional anti-
dumping duty, that is, 11th April, 2014.
MARKET UPDATES
SENSEX
27,592.45 -51.43
CNX NIFTY
8,354.30 -15.95
DOLLAR/ RUPEE
63.84 0.27.
MCX SILVER
38,078.00 -62.00
MCX GOLD
27,070.00 -91.00
MCX CRUDE OIL
3,839.00 9.00
Dow Jones Industrial
average
18,232.02 -53.72
Nasdaq Composite
5,089.36 -1.43
http://www.proglobalcorp.com