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Black Money Bill Passed in Lok Sabha

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  • Black Money Bill Passed in Lok Sabha

    Black Money Bill Passed in Lok Sabha. The Undisclosed Foreign Income and Assets bill, which provides for heavy penalties for those stashing away black money in foreign accounts, was also passed in the Lok Sabha yesterday.

    Excise exemption available to Indian manufacturers has to be extended to CVD payable by importers. Honourable Supreme Court, in the case of AIDEK Tourism Services (P.) Ltd vs. Commissioner of Customs, New Delhi.

    A process of packing combination of mixture of two or more products, that does not change the essential nature of the product, will not amount to ‘manufacture’. [The Supreme Court in the case of M/s Satnam Overseas Ltd. vs. Commissioner of Central Excise, New Delhi].

    RBI after reviewing the issues relating to prevention, early detection and reporting of frauds has prepared a framework for fraud risk management in banks and shall come into force with immediate effect.

    ICAI International Conference on "Accountancy Profession: Spearheading Excellence" scheduled to be held at Indore from 7th-9th August 2015.

    NIRC of ICAI is organising Sub Regional Conference hosted by Hisar and Sirsa branch at R.S. Auditorium, Guru Jambheshwar University, Hisar on 16 May from 10 AM. Fee 500. No Fee for NIRC annual members.
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