New Article 246a Proposed to Confer Simultaneous Power to Union and State Legislatures to Legislate on GST ; Centre To Compensate States for Loss of Revenue Arising on Account of Implementation of the GST for a period up to Five Years The Union Cabinet approved on 17th December,2014 the proposal for introduction of a Bill … Read more
Government of India Department of Revenue PRESS RELEASE On 19.12.2014, Central Board of Direct Taxes has signed a bilateral Advance Pricing Agreement (APA) with a Japanese Company. This is India’s first bilateral APA. The APA is for a period of five years. The APA has been finalized in a period of about one … Read more
The Finance Minister in the Budget speech 2014-15 announced that the Indian Accounting Standards (Ind AS) i.e. accounting standards based largely on with International Financial Reporting Standards (IFRS) shall be applied by Indian Companies from F.Y. 2015-16 voluntarily and from F.Y. 2016-17 on a mandatory basis. Implementation of Ind AS for banks, insurance companies and … Read more
Press Information Bureau Government of IndiaMinistry of Corporate Affairs 19-December-2014 18:27 IST Conducting of CA Exams All activities connected with conduct of examinations by the Institute of Chartered Accountants of India and the Institute of Cost Accountants of India including setting of papers, valuation, pass percentage, declaration of results etc. are undertaken by the Institutes themselves. … Read more
Foreign Trade The foreign trade (export+import) has increased from 42 billion US $, in 1990-91 to 765 billion US$ in the year 2013-14 with an annual average growth rate of 13.42% and has increased 18 folds during the period. The gap, between value of import and export, which is Trade deficit, has also increased during … Read more
For technology up-gradation to Micro and Small Enterprises in the pharma sector, Ministry of Micro, Small & Medium Enterprises (MSME) is running Credit Linked Capital Subsidy Scheme (CLCSS) under which Micro and Small Enterprises are entitled to take loan upto Rs. 1.00 crore with 15% subsidy. Drugs for sale or for export are manufactured under … Read more
F. No. 286/98/2013-IT (Inv.I1) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Room No. 265A, North Block New Delhi, the 18th December, 2014 To 1. All Principal Chief Commissioners of Income Tax 2. All Chief Commissioners of Income Tax 3. All Directors General of Income Tax (Inv.) 4. Director … Read more
To be published in the Gazette of India Extraordinary Part-I, Section-I Government of India Ministry of Commerce and Industry Department of Commerce Directorate General of Foreign Trade 3. Effect of this Public Notice: Procedure for export of Certified Organic Products has been deferred till further orders. Director General … Read more
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, PART-II, SECTION 3, GOVERNMENT OF INDIA DEPARTMENT OF REVENUE NOTIFICATION DATED THE 18th December, 2014 SCHEDULE-I Foreign Currency currency equivalent to Indian rupees (2) (a) (For Imported 1. 52.35 2. 172.75 3. 55.05 4. 10.65 5. 79.15 6. 8.25 7. … Read more
F.No.605/144/2013-DBK Government of India Ministry of Finance, Department of Revenue Central Board of Excise& Customs Drawback Division New Delhi, dated the 18th December, 2014 To All Chief Commissioners of Customs / Customs (Prev)/ Central Excise & Customs, All Directors General of CBEC / Chief Commissioner (AR), CESTAT, All Commissioners of Customs/Customs (Prev)/Customs & Central Excise/Commissioners … Read more