As the finance ministry is racing against time to meet the April 2011 deadline for rolling out GST, it plans to form a core group of tax officials to speed up the work on the proposed tax regime.
The group, proposed to be headed by former director general of audit, Gautam Ray, will assist the Central Board of Excise and Customs (CBEC) in drafting papers and finalising rules for GST. The committee is likely to be in place by the end of this month.
Government gave in-principle approval for adoption of standardised approach for collection of demographic and biometric attributes, including iris scan, of residents by various bodies for UID project.
The approval was given at a meeting of the Cabinet Committee on Unique Identification Authority of India related issues (CC-UIDAI), UIDAI Chairman Nandan Nilekani said here.
Companies wanting to list on an SME exchange would not be required to submit financial numbers every quarter and can also do away with sending the complete annual report.
These are some of the relaxations provided by the Securities and Exchange Board of India (SEBI) to companies that intend to list their shares on SME exchange rather than the main board.
Ministry of Corporate Affairs to upscale the Investor awareness activities by organizing over 3000 Investor programmes throughout the Country during the current Financial Year
Shri Salman Khurshid, Minister of Corporate Affairs, has said that in order to increase awareness in investors , an ‘India Investor Week’ will be organized in the 2nd week of July, 2010.
A section of the media has reported that e-filing of income tax returns had turned risky as the security certification of the Income Tax department’s Internet portal had lapsed on 8th May 2010.
In this regard, it has been clarified by the CBDT that the process for renewal of the security certificate of the department’s e-filing portal was initiated well in time before it lapsed on 8th May 2010.
Last week, Finance Act, 2010 came into effect.A very useful change that the finance minister agreed to related to small scale industries.
Manufacturers whose turnover in the previous year does not exceed Rs 4 crore are eligible to clear goods up to Rs 1.5 crore value in the current year without excise duty payment.
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