India’s sovereign credit ratings gets fourth upgrade by Moody’s Investor
On 20th December, 2011, Moody`s Investor Services released a credit rating update for India. It upgraded the rating on long-term government bonds denominated in domestic currency from Bal to Baa3 (from speculative to investment grade). The long-term country ceiling on the foreign currency bank deposits was also upgraded from Bal to Baa3 (from speculative to… Read More
Disclosure of Track Record of the public issues managed by Merchant Bankers
CIR/MIRSD/1/2012 January 10, 2012 To All SEBI Registered Merchant Bankers Dear Sir/ Madam, Sub: Disclosure of Track Record of the public issues managed by Merchant Bankers 1. SEBI regulations require that the offer document shall contain adequate disclosures so as to enable investors to take well informed investment decisions. Further, a merchant banker is required to exercise due… Read More
Appointment of Common Adjudicating Authority-Custom
[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii)] Government of India Ministry of Finance (Department of Revenue) Notification No.01/2012-Customs (N.T.) S.O. (E). In exercise of the powers conferred by sub-section (1) of section 4 and sub-section (1) of section 5 of the Customs Act, 1962 (52 of 1962), the… Read More
Service tax Half yearly Return Filing Due Date Extended to 20th January 2012
F. No. 137/99/2011 Service Tax Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs, ********** ORDER NO 1 /2012 Service Tax In exercise of the powers conferred by Rule 7(4) of the Service Tax Rules 1994 read with notification No. 48/2011-Service Tax dated 19th October 2011, Central Board of Excise… Read More
Union Budget 2011-12 Interest Subvention Scheme 2 per cent interest subvention and 3 per cent additionalsubvention for short-term crop loans in 2011-12
RBI / 2011-12/ 344 RPCD.No.PLFS.BC.54/05.04.02/2011-12 January 9, 2012 The Chairman/Managing Director All Public Sector Banks Dear Sir, Union Budget 2011-12 Interest Subvention Scheme 2 per cent interest subvention and 3 per cent additionalsubvention for short-term crop loans in 2011-12 As you are aware, the Hon™ble Finance Minister, in his Budget Speech (paragraph 63) for 2011-12 had… Read More
Public search of Trademark now available on MCA21
In order to provide enhanced services to its stakeholders, MCA in a joined up service with the Trademark department has provided a facility for searching the trademark database before applying for Name availability. One can now use the link 'Public Search of Trademark' available on the MCA21 portal before applying for a company name to… Read More
Salient features of newly drafted National Competition Policy
Government had constituted a Committee for drafting the National Competition Policy with a view to achieve highest sustainable levels of economic growth, entrepreneurship, employment, higher standards of living for citizens, protect economic rights for just, equitable, inclusive and sustainable economic and social development, promote economic democracy and support good governance by restricting rent seeking practices.… Read More
Govt. allows 100% FDI in Single Brand Retail Trade
Government of India Ministry of Commerce & Industry Department of Industrial Policy & Promotion (FC-I Section) Press Note No.1 (2012 Series) Subject: Review of the policy on Foreign Direct Investment- liberalization of the policy in Single- Brand Retail Trading. 1.0 Present Position: Foreign Direct Investment (FDI), in retail trade, is prohibited except in single brand product retail… Read More
Compliance Referencer from ICAI on CCBCAF & SMP
The Committee for Capacity Building of CA Firms and Small & Medium Practitioners is a non-standing Committee of the Institute of Chartered Accountants of India formed under regulatory provisions of The Chartered Accountants Act, 1949. This Committee was formed in the month of February,2010 under nomenclature ˜Committee for Capacity Building of CA Firms and Small… Read More
No export permission is required for supply of SCOMET items from DTA to SEZ- DGFT
Supply of SCOMET Items from DTA to SEZ TO BE PUBLISHED IN THE GAZETTE OF INDIA PART II, SECTION 3, SUB SECTION (ii) EXTRAORDINARY GOVERNMENT OF INDIA; MINISTRY OF COMMERCE AND INDUSTRY; DEPARTMENT OF COMMERCE; DIRECTORATE GENERAL OF FOREIGN TRADE NOTIFICATION No. 93 (RE-2010)/2009-2014 Dated: 6th January, 2012 S.O. (E) In exercise of powers conferred… Read More
Casual workers to benefit from Casual Labourers (Grant of Temporary Status and Regularization) Scheme of GOI, 1993
Casual workers are engaged by various Ministries/ Departments and their attached and subordinate offices for work of casual or seasonal or intermittent nature. They are engaged according to the requirement of different Ministries/Departments/ attached/subordinate offices. There is no legislation exclusively for regulating engagement of casual workers. However,the Central Government has issued guidelines in the matter… Read More
Continuation of Anti-dumping duty on ˜Caustic Soda™,originating in or exported from Saudi Arabia, Iran, Japan, USA & France
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA; MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 1/2012-Customs (ADD) New Delhi, dated the 6th January, 2012 G.S.R. (E). -Whereas, the designated authority vide notification No. 15/28/2010-DGAD, dated the 2nd September, 2011, published in Part I,… Read More
RBI- Implementation of Section 51-A of UAPA, 1967-Updates of UNSCR 1267 (1999) and 1989 (2011) Committee’s Al-Qaida
RBI/2011-12/343; RPCD.CO.RCB.AML.No.6764/07.02.12/2011-12 The Chairmen / CEOs of all State and Central Co-operative Banks Implementation of Section 51-A of UAPA, 1967-Updates of UNSCR 1267 (1999) and 1989 (2011) Committee's Al-Qaida Sanctions List Please refer to our circular RPCD.CO.RCB.AML.BC.No.52/07.02.12/2011-12 dated January 4, 2012. We have since received from Government of India, Ministry of External Affairs, UNP Division copies of… Read More
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