Corporate Law Reporter - The Daily Journal

Ministry statement on Price of Cancer Drugs under New Pharmaceutical Pricing Policy, 2012

As per IMS Health data available with National Pharmaceutical Pricing Authority (NPPA), the details of Nexavar which is an anti-cancer drug are not reported. In respect of drugs not covered under the Drugs (Prices Control) Order, 1995 (DPCO, 1995) i.e. non-scheduled drugs, manufacturers fix the launch prices by themselves without seeking the approval of Government/NPPA.… Read More

Salient features of the amended provisions of the Drugs & Cosmetics Act, 1940

Prices of Life Saving Drugs The Department of Pharmaceuticals has notified the National Pharmaceutical Pricing Policy- 2012 under which the prices of National List of Essential Medicines-2011 are to be controlled & regulated. The objective is to put in place a regulatory framework for pricing of drugs so as to ensure availability of required medicines… Read More

GoI Clarifications on Retail Price and Manufacturing Cost of Medicines

Retail Price and Manufacturing Cost of Medicines Under the provisions of the Drugs (Prices & Control) Order, 1995 (DPCO, 1995) the prices of 74 bulk drugs listed in its First Schedule and the formulations containing any of these scheduled drugs are controlled. National Pharmaceutical Pricing Authority (NPPA) fixes or revises prices of scheduled drugs /… Read More

Clarification on Performance Audit Of Agricultural Debt Waiver And Debt Relief Scheme, 2008 and Subsequent Monthly Reporting needs of RBI

RBI/2012-13/432 UBD.BPD (PCB) Cir. No.40/13.05.000/2012-13 March 7, 2013 The Chief Executive Officers of All Primary (Urban) Co-operative Banks Madam/Dear Sir, Performance Audit Of Agricultural Debt Waiver And Debt Relief Scheme, 2008 Please refer to our Circular UBD. BPD (PCB) Cir. No. 31/13.05.000/2012-13 dated January 15, 2013 on the above subject. Considering the serious nature of… Read More

RBI Clarification on KYC / AML/ PMLA norms in relation to Shifting of bank accounts to another centre

RBI/2012-13/431 UBD.BPD (PCB) Cir. No. 39/14.01.062/2012-13 March 7, 2013 The Chief Executive Officer of All Primary (Urban) Co-operative Banks Madam/Dear Sir, Know Your Customer (KYC) Norms/Anti-Money Laundering (AML) Measures/Combating of Financing of Terrorism (CFT) / Obligations of banks under Prevention of Money Laundering Act (PMLA), 2002 Primary (Urban) Co-operative Banks Please refer to our circular… Read More

Punjab VAT due date for e-filing returns of Q3 extended till March 15th, 2013

GOVT. of PUNJAB Excise and Taxation Department PUBLIC NOTICE Dated: 4thMarch 2013 Kind Attention: All VAT Dealers, Advocates, Chartered Accountants and Cost Accountants Subject: The last date for E-Filing Returns of Q3 extended upto 15th March,2013 E-Filing returns of VAT-15 started on 31st January 2013. Subsequently, a newer version of VAT-15 was also made availableon 20th February… Read More

Amendments and clarifications on specified entries of Finance Act, 1994

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, (EXTRAORDINARY), 1PART II, SECTION 3, SUB-SECTION (i)] Government of India Ministry of Finance (Department of Revenue) Notification New Delhi, the 1st March, 2013 No.4/2013 - Service Tax G.S.R....(E)- In exercise of the powers conferred under sub-clause (iii) of clause (b) of section 96A of the Finance Act,… Read More

Date of submission of the Form ST-3 for July – Sep 2012 extended till 15th April 2013

F.No.137/99/2011-Service Tax Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs *** New Delhi, dated the 6th March, 2013 Order No: 01/2013-Service Tax In exercise of the powers conferred by sub-rule(4) of rule 7 of the Service Tax Rules, 1994, the Central Board of Excise & Customs hereby extends the… Read More

RBI to post Clarifications on New Banks Licensing Guidelines

The Reserve Bank of India has been receiving queries from intending applicants seeking clarifications on the guidelines on Licensing of New Banks in the Private Sector. The guidelines were issued on February 22, 2013. Considering that the clarifications sought would be of wider interest and use for all intending applicants, the Reserve Bank has decided to post… Read More

Clarification regarding Commission on Railway Safety

The working of Commissioner of Railway Safety is governed by the Railways Act, 1989. There is no proposal of amendment with regard to segregating the role of regulator, operator and investigator at present. There is no lack of coordination between the Commission of Railway Safety and the Railways. The Commission of Railway Safety functions under… Read More

National Electricity Policy and Steps towards provide economical electricity

Steps taken to provide Electricity at Economical rates. With a view to bringing improvement in the power sector and to provide electricity at economical rates to the consumers, following important steps have been taken by the Union Government :- (i) National Electricity Policy was notified in 2005 under the Electricity Act 2003 addressing the issues… Read More

Allocation of New Exploration Licensing Policy

Allocation of New Exploration Licensing Policy Gas only to Power plants agreed to Supply entire Electricity to Distribution Licensees. Empowered Group of Ministers (EGoM) has decided that the existing and future allocations of New Exploration Licensing Policy (NELP) gas to power plants be subject to the condition that the entire electricity produced from the allocated… Read More

Government Disinvestment in Central Public Sector Enterprises

Disinvestment of minority shares in Central Public Sector Enterprises (CPSEs) has become an important source of raising resource for the Government. The policy of ˜disinvestment™ in CPSEs has evolved over the years. Disinvestment of government equity in CPSEs began in 1991-92 following the Industrial Policy Statement of 1991, which stated that the Government would divest… Read More