Newsletter dated 8th July,2015

1. PGC NEWSLETTER 1
PGC
NEWSLETTER
8th
July, 2015
THOUGHT OF THE DAY
“Effective leadership is putting first things first. Effective
management is discipline, carrying it out…”
ECONOMIC UPDATES
 India has set itself the ambitious task of climbing into the top 30 of the
World Bank's ease of doing business rankings in three years and is
confident of breaking into the top 100 in this year's list, which is to be
released soon. The Department of Industrial Policy & Promotion has
sought help from the World Bank to achieve this target.
 Union labour Ministry had proposed a trade union in a factory be
empowered as the 'principal bargaining agent' for settling a dispute or
engaging in a discussion with employers. The union would be treated as a
representative of the workers in the respective organisation based on
membership, after a verification drive, ministry sources said.
SEBI/CORPORATE UPDATES
 The Forward Markets Commission (FMC) has removed four commodities,
including maize, from the ambit of evening trade and reduced trade
timings for the remaining six on the futures platform of commodity
bourses. The revised trade timings and the new list of commodities
allowed for trading in the evening hours will be applicable from July 13.
 Vide DGFT PUBLIC NOTICE NO. 26/(2015-2020) dated July 7,2015
notified additional quantity of 2095 MTs of raw cane sugar to be exported
to USA under TRQ upto 30.09.2015.
RBI/TAX LAW UPDATES
 RBI Issued FAQs related to Forex Facilities including the Liberalised
Remittance Scheme (LRS) for Residents.
 Vide CBDT Notification No.59/2015 dated July 6, 2015 The Central
Government authorized 7 public sector companies to issue tax free bonds.
 Vide CBEC Circular No. 185/4/2015-ST issued check-list & revised
guidelines for carrying out detailed manual scrutiny of service tax returns
vis-a-vis ITR Form 4/5/6 and 26AS with effect from 1st August 2015.
 Vide Notification No. 18/2015- Central Excise (N.T.) notified regarding
Digitally signed invoices in Central Excise and Service Tax-Conditions,
safeguards and procedures.
MARKET UPDATES
SENSEX
27,737.53 -434.16
CNX NIFTY
8,369.75 -139.25
DOLLAR/ RUPEE
63.55 0.09
MCX SILVER
34,413.00 -250.00
MCX GOLD
25,932.00 -100.00
MCX CRUDE OIL
3,313.00 7.00
Dow Jones Industrial
average
17,776.91 93.33
Nasdaq Composite
4,997.46 5.52
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