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THOUGHT OF THE DAY
THOUGHT OF THE DAY
“While always looking for the good in others, you will find
the good in yourself.”
Law Updates:
 Addition could be made on basis of documents found during survey
conducted pursuant to search proceedings: High Court.
 Where services carried on by assessee were in connection with
prospecting for mineral oils, it was taxable on presumptive basis
under section: Tribunal Delhi.
 Forms FC-4, CHG-4, GNL-1, MGT-7 and URC-1 are likely to be
updated on MCA21 Company Forms Download page w.e.f 28th
May 2016. Stakeholders are advised to check the latest version
before filing.
PROFESSIONALS INPUTS:
 CBEC vide Notification No. 31/2016 dated 26th
May, 2016 Seeks to
inter alia provide composition rate for Krishi Kalyan Cess as
applicable to ST under sub-rules 7,7A,7B,7C of rule 6 of STR,
1994.
 CBEC vide Notification No. 30/2016 dated 26th
May, 2016 Seeks to
amend notification No. 12/2013- ST, dated the 1st July, 2013 so as
to inter alia allow refund of Krishi Kalyan Cess paid on specified
services used in an SEZ.
 CBEC vide Notification No. 29/2016 dated 26th
May, 2016 Seeks to
amend notification No. 39/2012- ST, dated the 20th June, 2012 so
as to provide for rebate of Krishi Kalyan Cess paid on all services,
used in providing services exported in terms of rule 6A of the
Service Tax Rules.
 CBEC vide Notification No. 27/2016 dated 26th
May, 2016 Seeks to
provide that notification No. 30/2012 - Service Tax, dated the 20th
June, 2012, shall be applicable mutatis mutandis for the purposes of
Krishi Kalyan Cess.
MARKET WATCH:
SENSEX: 26,653.60 285.92 NIFTY: 8,156.65 87.75
SILVER: 38,920. 00 -131.00 GOLD (MCX): 28,588.00 -150.00
USD/INR: 67.03 -0.14 CRUDE OIL: 3,305.00 -22.00
CS Rajiv Bajaj
9811453353
Bajajr66@gmail.com
youtube.com/csrajivbajaj
https://www.facebook.com/Rajiv
1Bajaj
http://www.csrajivbajaj.com
Date: 28th
May, 2016
www.csrajivbajaj.com
B. Ravi Pillai
Founder- RP Group of Companies
B. Ravi Pillai (born 2 September 1953) is an Indian entrepreneur and the
head of RP Group of companies. A recipient of the 2008 Pravasi
Bharatiya Samman, Pillai was honored again by the Government of
India, in 2010, with the fourth highest Indian civilian award of Padma
Shri.
Early life and education
Ravi Pillai was born on 2 September 1953 at Chavara, a coastal town in
Kollam, in the South Indian state of Kerala in a family of farmers. After
graduating from a local college, he continued his studies in Business
Administration at Cochin University.
Carrer
During his time at Cochin University, he launched his first business, a chit fund in Kollam on reportedly
borrowed money. Later, he started engineering contract business and worked for some of the major industrial
houses in Kerala such as Fertilisers and Chemicals Travancore Limited, Hindustan Newsprint Limited,
and Cochin Refineries. However, a labour strike forced him to close down his business after which he went to
Saudi Arabia in 1978 where he started a small trading business. Two years later, he moved to construction
business and established Nasser Al Hajri Corporation with 150 employees,]
which has over the years grown to
become the flagship company of his business group, R. P Group, which is known to employ over 70,000
employees across its businesses. The shopping mall in South Kerala, RP Mall at Kollam city is owned by Ravi
Pillai.
Pillai has expanded his business to other countries such as United Arab Emirates, Qatar, Bahrain and India and
has interests in construction, hospitality, steel, cement, and oil and gas industries. RP Group is known to hold
stakes in hotels such as Leela Kovalam, Hotel Raviz, Kollam, and WelcomHotel Raviz Kadavu, Kozhikode in
his home state of Kerala. He is also involved in health care business through Upasana Hospital and Research
Centre, a 300 bed multispecialty hospital in Kollam
Awards and recognition
Ravi Pillai, who holds a doctoral degree (Honoris Causa) from the Excelsior College, New York, was awarded
the Pravasi Bharatiya Samman by the Government of India in 2008. Three years later, in 2010, the Government
of India included him in the Republic Day honours list for the civilian honour of Padma Shri.
Forbes listed him, in 2014, in the The World's Billionaires at 988 in the world and 30 in India. Arabian
Business ranked him as the fourth most powerful Indian in the Middle East in 2014
Personal Life
Ravi Pillai is married to Smt.Geetha. He has two children; son Ganesh Ravi Pillai and daughter Arathi Ravi
Pillai.
Recently, Ravi Pillai conducted his daughter's Dr. Arthi wedding in Kollam on Nov 26 2015, with total expense
of US$ 9Million. The wedding was organized by the production designer who lent his capabilities to the
blockbuster film, Bahubali. This was supposed to be one of the most expensive wedding that happened in
Ashramom grounds in Kollam, Kerala.

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Newsletter dated 28th may, 2016

  • 1. www.csrajivbajaj.com THOUGHT OF THE DAY THOUGHT OF THE DAY “While always looking for the good in others, you will find the good in yourself.” Law Updates:  Addition could be made on basis of documents found during survey conducted pursuant to search proceedings: High Court.  Where services carried on by assessee were in connection with prospecting for mineral oils, it was taxable on presumptive basis under section: Tribunal Delhi.  Forms FC-4, CHG-4, GNL-1, MGT-7 and URC-1 are likely to be updated on MCA21 Company Forms Download page w.e.f 28th May 2016. Stakeholders are advised to check the latest version before filing. PROFESSIONALS INPUTS:  CBEC vide Notification No. 31/2016 dated 26th May, 2016 Seeks to inter alia provide composition rate for Krishi Kalyan Cess as applicable to ST under sub-rules 7,7A,7B,7C of rule 6 of STR, 1994.  CBEC vide Notification No. 30/2016 dated 26th May, 2016 Seeks to amend notification No. 12/2013- ST, dated the 1st July, 2013 so as to inter alia allow refund of Krishi Kalyan Cess paid on specified services used in an SEZ.  CBEC vide Notification No. 29/2016 dated 26th May, 2016 Seeks to amend notification No. 39/2012- ST, dated the 20th June, 2012 so as to provide for rebate of Krishi Kalyan Cess paid on all services, used in providing services exported in terms of rule 6A of the Service Tax Rules.  CBEC vide Notification No. 27/2016 dated 26th May, 2016 Seeks to provide that notification No. 30/2012 - Service Tax, dated the 20th June, 2012, shall be applicable mutatis mutandis for the purposes of Krishi Kalyan Cess. MARKET WATCH: SENSEX: 26,653.60 285.92 NIFTY: 8,156.65 87.75 SILVER: 38,920. 00 -131.00 GOLD (MCX): 28,588.00 -150.00 USD/INR: 67.03 -0.14 CRUDE OIL: 3,305.00 -22.00 CS Rajiv Bajaj 9811453353 Bajajr66@gmail.com youtube.com/csrajivbajaj https://www.facebook.com/Rajiv 1Bajaj http://www.csrajivbajaj.com Date: 28th May, 2016
  • 2. www.csrajivbajaj.com B. Ravi Pillai Founder- RP Group of Companies B. Ravi Pillai (born 2 September 1953) is an Indian entrepreneur and the head of RP Group of companies. A recipient of the 2008 Pravasi Bharatiya Samman, Pillai was honored again by the Government of India, in 2010, with the fourth highest Indian civilian award of Padma Shri. Early life and education Ravi Pillai was born on 2 September 1953 at Chavara, a coastal town in Kollam, in the South Indian state of Kerala in a family of farmers. After graduating from a local college, he continued his studies in Business Administration at Cochin University. Carrer During his time at Cochin University, he launched his first business, a chit fund in Kollam on reportedly borrowed money. Later, he started engineering contract business and worked for some of the major industrial houses in Kerala such as Fertilisers and Chemicals Travancore Limited, Hindustan Newsprint Limited, and Cochin Refineries. However, a labour strike forced him to close down his business after which he went to Saudi Arabia in 1978 where he started a small trading business. Two years later, he moved to construction business and established Nasser Al Hajri Corporation with 150 employees,] which has over the years grown to become the flagship company of his business group, R. P Group, which is known to employ over 70,000 employees across its businesses. The shopping mall in South Kerala, RP Mall at Kollam city is owned by Ravi Pillai. Pillai has expanded his business to other countries such as United Arab Emirates, Qatar, Bahrain and India and has interests in construction, hospitality, steel, cement, and oil and gas industries. RP Group is known to hold stakes in hotels such as Leela Kovalam, Hotel Raviz, Kollam, and WelcomHotel Raviz Kadavu, Kozhikode in his home state of Kerala. He is also involved in health care business through Upasana Hospital and Research Centre, a 300 bed multispecialty hospital in Kollam Awards and recognition Ravi Pillai, who holds a doctoral degree (Honoris Causa) from the Excelsior College, New York, was awarded the Pravasi Bharatiya Samman by the Government of India in 2008. Three years later, in 2010, the Government of India included him in the Republic Day honours list for the civilian honour of Padma Shri. Forbes listed him, in 2014, in the The World's Billionaires at 988 in the world and 30 in India. Arabian Business ranked him as the fourth most powerful Indian in the Middle East in 2014 Personal Life Ravi Pillai is married to Smt.Geetha. He has two children; son Ganesh Ravi Pillai and daughter Arathi Ravi Pillai. Recently, Ravi Pillai conducted his daughter's Dr. Arthi wedding in Kollam on Nov 26 2015, with total expense of US$ 9Million. The wedding was organized by the production designer who lent his capabilities to the blockbuster film, Bahubali. This was supposed to be one of the most expensive wedding that happened in Ashramom grounds in Kollam, Kerala.