Monthly Archives: June 2016

key indicators of Domestic Tourism in India

By | June 29, 2016

Press note on key indicators of Domestic Tourism in India NSS 72nd Round (July, 2014 –June, 2015) The National Sample Survey Office (NSSO), Ministry of Statistics and Programme Implementation has released the report titled “Key Indicators of Domestic Tourism in India” based on the related information collected during July, 2014 to June, 2015 as a… Read More »

Tax payers Survey by CBEC – Results

By | June 29, 2016

Tax payers Survey got conducted by Central Board of Excise & Customs (CBEC) for garnering a feedback on impact that reforms undertaken during the last two years; Responses showed that 45% of the respondents saw an attitudinal change in senior functionaries (Commissioner level and above); and 51% acknowledged an improvement at the ground level, at… Read More »

Consolidation of subsidiary which is LLP or a partnership firm?

By | June 29, 2016

Whether holding company is required to consolidate its subsidiary which is LLP (Limited Liability Partnership) or a partnership firm? Will the answer differ if LLP is an associate or Joint Venture (JV) of the holding company? Response In accordance with rule 6 of Companies (Accounts) Rules, 2014, consolidation should be done in accordance with Schedule… Read More »

Indirect Tax Ombudsman – a Tool for resolution of Complaints

By | June 28, 2016

The CBEC has taken several initiatives to improve and facilitate trade and business in the ‘year of tax payers’ services. One of such initiatives had been setting up the post of Indirect Tax Ombudsman. The Central Government has created 7 posts of Indirect Tax Ombudsman at 7 stations with the objective of enabling the resolution… Read More »

Monetary Policy Committee (MPC) under RBI ACT 1934 Constituted

By | June 28, 2016

Government initiates process to constitute Monetary Policy Committee (MPC) under the Reserve Bank of India Act, 1934 Government decides to bring the provisions of amended RBI Act regarding constitution of MPC into force on 27th June, 2016 so that statutory basis of MPC is made effective;  Rules governing the procedure for Selection of Members of… Read More »

New Stevedoring and Shore Handling Policy for all Major Ports

By | June 28, 2016

New Stevedoring and Shore Handling Policy in Place for all Major Ports from 31st July, 2016 Ministry of Shipping will implement a new Stevedoring and Shore Handling Policy for all Major Ports from 31st July, 2016. The existing Stevedoring Agents will have to switch over to the new Stevedoring and Shore Handling Scheme from that… Read More »