{"id":593,"date":"2015-11-21T12:22:37","date_gmt":"2015-11-21T06:52:37","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=593"},"modified":"2022-01-17T12:55:01","modified_gmt":"2022-01-17T07:25:01","slug":"taxes-and-finance-update","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/taxes-and-finance-update\/","title":{"rendered":"taxes and finance update november 16, 2015"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69e855650b940\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69e855650b940\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/taxes-and-finance-update\/#TAXES_AND_FINANCE_UPDATE_NOVEMBER_16_2015\" title=\"TAXES AND FINANCE UPDATE NOVEMBER 16, 2015\">TAXES AND FINANCE UPDATE NOVEMBER 16, 2015<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/taxes-and-finance-update\/#INDIRECT_TAXES\" title=\"INDIRECT TAXES \">INDIRECT TAXES <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/taxes-and-finance-update\/#FINANCIAL_MANAGEMENT_COMMODITIES\" title=\"FINANCIAL MANAGEMENT\u00a0COMMODITIES\">FINANCIAL MANAGEMENT\u00a0COMMODITIES<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/taxes-and-finance-update\/#FINANCIAL_MANAGEMENT\" title=\"FINANCIAL MANAGEMENT \u00a0\">FINANCIAL MANAGEMENT \u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/taxes-and-finance-update\/#MERGER_ACQUISITION_%E2%80%93_NATIONAL\" title=\"MERGER &amp; ACQUISITION &#8211; NATIONAL\">MERGER &amp; ACQUISITION &#8211; NATIONAL<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/taxes-and-finance-update\/#LLP_Incorporation_and_Annual_Compliance\" title=\"LLP Incorporation and Annual Compliance\">LLP Incorporation and Annual Compliance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/carajput.com\/blog\/taxes-and-finance-update\/#Procedures_for_the_conversion_of_partnership_firm_into_Private_limited_company\" title=\"Procedures for the conversion of partnership firm into Private limited company\u00a0\">Procedures for the conversion of partnership firm into Private limited company\u00a0<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h3 class=\"yiv1770548550msonormal\" style=\"margin: 0in; margin-bottom: .0001pt; text-align: justify; text-justify: inter-ideograph; background: white;\"><\/h3>\n<h3 class=\"yiv1770548550msonormal\" style=\"margin: 0in; margin-bottom: .0001pt; text-align: justify; text-justify: inter-ideograph; background: white;\"><\/h3>\n<figure id=\"attachment_9056\" aria-describedby=\"caption-attachment-9056\" style=\"width: 814px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/11\/45.png\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-9056\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/11\/45.png\" alt=\"www.carajput.com; Indirect Tax\" width=\"814\" height=\"583\" \/><\/a><figcaption id=\"caption-attachment-9056\" class=\"wp-caption-text\">www.carajput.com; Indirect Tax<\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"TAXES_AND_FINANCE_UPDATE_NOVEMBER_16_2015\"><\/span>TAXES AND FINANCE UPDATE NOVEMBER 16, 2015<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3 class=\"yiv1770548550msonormal\" style=\"margin: 0in; margin-bottom: .0001pt; text-align: justify; text-justify: inter-ideograph; background: white;\"><span class=\"ez-toc-section\" id=\"INDIRECT_TAXES\"><\/span><b><span style=\"font-size: 19.5pt; font-family: 'Segoe UI','sans-serif'; color: #002060; text-transform: uppercase;\"><a href=\"https:\/\/www.caindelhiindia.com\/blog\/popular-faq-on-direct-indirect-tax-corporate-regulatory-matters\/\">INDIRECT TAXES<\/a> <\/span><\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b><span style=\"font-size: 10.0pt; font-family: 'Segoe UI','sans-serif'; color: #e55a11;\">CBEC revises arrest, prosecution norms<\/span><\/b><\/p>\n<p><b><i><span style=\"font-size: 8.5pt; font-family: 'Segoe UI','sans-serif'; color: #333333;\">Nov 02, 2015<\/span><\/i><\/b><\/p>\n<p class=\"yiv1770548550msonormal\" style=\"margin: 0in; margin-bottom: .0001pt; text-align: justify; text-justify: inter-ideograph; background: white;\"><span style=\"font-size: 10.0pt; font-family: 'Segoe UI','sans-serif'; color: #333333;\">The Central Board of Excise and Customs (CBEC) has revised the monetary limits for arrest and its guidelines for prosecution in matters relating to offenses punishable under Customs, Central Excise, and Service Tax laws. <\/span><\/p>\n<p class=\"yiv1770548550msonormal\" style=\"margin: 0in; margin-bottom: .0001pt; text-align: justify; text-justify: inter-ideograph; background: white;\"><span style=\"font-size: 10.0pt; font-family: 'Segoe UI','sans-serif'; color: #333333;\">Its circulars (dated October 23) prescribe threshold limits, due sanction from senior officers, procedures to be followed, monitoring disciplines, and procedures for withdrawal of complaints. In Customs matters, the CBEC says arrest in respect of an offense should be effected only in exceptional situations.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3 class=\"yiv1770548550msonormal\" style=\"margin: 0in; margin-bottom: .0001pt; text-align: justify; text-justify: inter-ideograph; background: white;\"><span class=\"ez-toc-section\" id=\"FINANCIAL_MANAGEMENT_COMMODITIES\"><\/span><b><span style=\"font-size: 19.5pt; font-family: 'Segoe UI','sans-serif'; color: #002060; text-transform: uppercase;\">FINANCIAL MANAGEMENT\u00a0COMMODITIES<\/span><\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p class=\"yiv1770548550msonormal\" style=\"margin: 0in; margin-bottom: .0001pt; text-align: justify; text-justify: inter-ideograph; line-height: 15.05pt; background: white;\"><span style=\"font-size: 10.0pt; font-family: 'Segoe UI','sans-serif'; color: #333333;\">\u00a0<\/span><\/p>\n<p class=\"yiv1770548550msonormal\" style=\"margin: 0in; margin-bottom: .0001pt; text-align: justify; text-justify: inter-ideograph; background: white;\"><b><span style=\"font-size: 10.0pt; font-family: 'Segoe UI','sans-serif'; color: #e55a11;\">Big correction in coriander<\/span><\/b><\/p>\n<p class=\"yiv1770548550msonormal\" style=\"margin: 0in; margin-bottom: .0001pt; text-align: justify; text-justify: inter-ideograph; background: white;\"><b><i><span style=\"font-size: 8.5pt; font-family: 'Segoe UI','sans-serif'; color: #333333;\">Nov 02, 2015<\/span><\/i><\/b><\/p>\n<p class=\"yiv1770548550msonormal\" style=\"margin: 0in; margin-bottom: .0001pt; text-align: justify; text-justify: inter-ideograph; background: white;\"><span style=\"font-size: 10.0pt; font-family: 'Segoe UI','sans-serif'; color: #333333;\">Coriander prices have tanked over 20 percent in the last two weeks on the National Commodity and Derivatives Exchange (NCDEX). They are currently trading at Rs. 9,391 per quintal. This sharp and sudden fall took the markets by surprise. <\/span><\/p>\n<p class=\"yiv1770548550msonormal\" style=\"margin: 0in; margin-bottom: .0001pt; text-align: justify; text-justify: inter-ideograph; background: white;\"><span style=\"font-size: 10.0pt; font-family: 'Segoe UI','sans-serif'; color: #333333;\">The trigger for the huge fall came after unconfirmed reports stating that the Securities and Exchange Board of India<a href=\"https:\/\/carajput.com\/blog\/category\/sebi\/\"> (SEBI)<\/a> has asked the NCDEX to provide historical price data of the commodity. This made the market nervous and the contract witnessed panic selling thereafter. The ripple effect had the contract hitting the lower circuit for three consecutive days. Following this, the NCDEX has increased the margin for the coriander futures contract with effect from Thursday last week.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3 class=\"yiv1770548550msonormal\" style=\"margin: 0in; margin-bottom: .0001pt; text-align: justify; text-justify: inter-ideograph; background: white;\"><span class=\"ez-toc-section\" id=\"FINANCIAL_MANAGEMENT\"><\/span><b><span style=\"font-size: 19.5pt; font-family: 'Segoe UI','sans-serif'; color: #002060; text-transform: uppercase;\"><a href=\"https:\/\/carajput.com\/risk-financial-management.php\">FINANCIAL MANAGEMENT <\/a>\u00a0<\/span><\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p class=\"yiv1770548550msonormal\" style=\"margin: 0in; margin-bottom: .0001pt; text-align: justify; text-justify: inter-ideograph; background: white;\"><b><span style=\"font-size: 10.0pt; font-family: 'Segoe UI','sans-serif'; color: #e55a11;\">Granules India net zooms 40% in Q2<\/span><\/b><\/p>\n<p class=\"yiv1770548550msonormal\" style=\"margin: 0in; margin-bottom: .0001pt; text-align: justify; text-justify: inter-ideograph; background: white;\"><b><i><span style=\"font-size: 8.5pt; font-family: 'Segoe UI','sans-serif'; color: #333333;\">Nov 02, 2015<\/span><\/i><\/b><\/p>\n<p class=\"yiv1770548550msonormal\" style=\"margin: 0in; margin-bottom: .0001pt; text-align: justify; text-justify: inter-ideograph; background: white;\"><span style=\"font-size: 10.0pt; font-family: 'Segoe UI','sans-serif'; color: #333333;\">Granules India has posted a net profit of Rs. 31 crores for the second quarter ended September 30, 2015, a 40 percent rise over the Rs. 22 crores it posted in the corresponding quarter last year. The company\u2019s revenue rose 19 percent to Rs. 366 crore. The operating margin improved by 204 basis points to 19.2 percent from 17.2 percent.<\/span><\/p>\n<p class=\"yiv1770548550msonormal\" style=\"margin: 0in; margin-bottom: .0001pt; text-align: justify; text-justify: inter-ideograph; background: white;\"><span style=\"font-size: 10.0pt; font-family: 'Segoe UI','sans-serif'; color: #333333;\">Giving a business break up for the second quarter on a consolidated basis, the company stated that Active Pharmaceutical Ingredients (APIs) contributed 44 percent, Pharmaceutical Formulation Intermediaries (PFIs) 27 percent, and Finished Dosages 29 percent. Geography-wise, the regulated markets contributed 55 percent and the rest of the world 45 percent.<\/span><\/p>\n<p class=\"yiv1770548550msonormal\" style=\"margin: 0in; margin-bottom: .0001pt; text-align: justify; text-justify: inter-ideograph; background: white;\"><em>\u00a0<\/em><\/p>\n<h3 class=\"yiv1770548550msonormal\" style=\"margin: 0in; margin-bottom: .0001pt; text-align: justify; text-justify: inter-ideograph; background: white;\"><span class=\"ez-toc-section\" id=\"MERGER_ACQUISITION_%E2%80%93_NATIONAL\"><\/span><b><span style=\"font-size: 19.5pt; font-family: 'Segoe UI','sans-serif'; color: #002060; text-transform: uppercase;\"><a href=\"https:\/\/carajput.com\/services-mergers.php\">MERGER &amp; ACQUISITION<\/a> &#8211; NATIONAL<\/span><\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p class=\"yiv1770548550msonormal\" style=\"margin: 0in; margin-bottom: .0001pt; text-align: justify; text-justify: inter-ideograph; line-height: 15.05pt; background: white;\"><span style=\"font-size: 10.0pt; font-family: 'Segoe UI','sans-serif'; color: #333333;\">\u00a0<\/span><\/p>\n<p class=\"yiv1770548550msonormal\" style=\"margin: 0in; margin-bottom: .0001pt; text-align: justify; text-justify: inter-ideograph; background: white;\"><b><span style=\"font-size: 10.0pt; font-family: 'Segoe UI','sans-serif'; color: #e55a11;\">Reliance Communications, Sistema to merge in all-stock deal<\/span><\/b><\/p>\n<p class=\"yiv1770548550msonormal\" style=\"margin: 0in; margin-bottom: .0001pt; text-align: justify; text-justify: inter-ideograph; background: white;\"><b><i><span style=\"font-size: 8.5pt; font-family: 'Segoe UI','sans-serif'; color: #333333;\">Nov 02, 2015<\/span><\/i><\/b><\/p>\n<p class=\"yiv1770548550msonormal\" style=\"margin: 0in; margin-bottom: .0001pt; text-align: justify; text-justify: inter-ideograph; background: white;\"><span style=\"font-size: 10.0pt; font-family: 'Segoe UI','sans-serif'; color: #333333;\">Anil Ambani-owned Reliance Communications is merging the telecom business of Sistema Shyam Teleservices (SSTL) with itself in a cashless deal worth around Rs 4,500-5,000 that will lead to the first major consolidation in the intensely competitive sector since 2009.&#8221; SSTL will get around 10% stake in the combined entity,<\/span><\/p>\n<p class=\"yiv1770548550msonormal\" style=\"margin: 0in; margin-bottom: .0001pt; text-align: justify; text-justify: inter-ideograph; background: white;\"><span style=\"font-size: 10.0pt; font-family: 'Segoe UI','sans-serif'; color: #333333;\"> but no board seat and no veto powers,&#8221; a person directly involved in the deal said. ET had first reported on May 20 that Reliance Communications (RCom) is holding talks on a possible takeover of SSTL in an all-stock deal that could give the latter&#8217;s shareholders a stake of around 10% in the merged entity.<\/span><\/p>\n<p class=\"yiv1770548550msonormal\" style=\"margin: 0in; margin-bottom: .0001pt; text-align: justify; text-justify: inter-ideograph; background: white;\"><span style=\"font-size: 10.0pt; font-family: 'Segoe UI','sans-serif'; color: #333333;\">\u00a0<\/span><\/p>\n<p class=\"yiv1770548550msonormal\" style=\"margin: 0in; margin-bottom: .0001pt; text-align: justify; text-justify: inter-ideograph; background: white;\"><span style=\"font-size: 10.0pt; font-family: 'Segoe UI','sans-serif'; color: #333333;\">\u00a0Hope the information will assist you in your Professional endeavors. For query or help, contact:\u00a0<\/span><a href=\"mailto:singh@carajput.com\"><span style=\"font-size: 10.0pt; font-family: 'Segoe UI','sans-serif'; color: #333333; text-decoration: none; text-underline: none;\">singh@carajput.com<\/span><\/a><span style=\"font-size: 10.0pt; font-family: 'Segoe UI','sans-serif'; color: #333333;\">\u00a0\u00a0or call at\u00a0011-233 433 33<\/span><\/p>\n<p>popular blog:-<\/p>\n<h4 class=\"yiv1770548550msonormal\" style=\"margin: 0in; margin-bottom: .0001pt; text-align: justify; text-justify: inter-ideograph; background: white;\"><span class=\"ez-toc-section\" id=\"LLP_Incorporation_and_Annual_Compliance\"><\/span><em><a href=\"https:\/\/carajput.com\/blog\/limited-liability-partnership-llps-requirements-at-the-time-of-incorporation\/\">LLP Incorporation and Annual Compliance<\/a><\/em><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"Procedures_for_the_conversion_of_partnership_firm_into_Private_limited_company\"><\/span><em><a href=\"https:\/\/carajput.com\/blog\/procedures-for-conversion-of-partnership-firm-to-private-company\/\">Procedures for the conversion of partnership firm into Private limited company<\/a><\/em><span style=\"font-size: 14.0pt; font-family: 'Segoe UI','sans-serif'; color: black;\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>TAXES AND FINANCE UPDATE NOVEMBER 16, 2015 INDIRECT TAXES CBEC revises arrest, prosecution norms Nov 02, 2015 The Central Board of Excise and Customs (CBEC) has revised the monetary limits for arrest and its guidelines for prosecution in matters relating to offenses punishable under Customs, Central Excise, and Service Tax laws. Its circulars (dated October &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[258,9,4,55],"tags":[9063,9099,333,9098],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/593"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=593"}],"version-history":[{"count":4,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/593\/revisions"}],"predecessor-version":[{"id":19893,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/593\/revisions\/19893"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}