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Updates of the Day

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1. Ministry of Finance increased Transport Allowance for Central Government employees w.e.f 1st April, 2015 [Notification No. 21(2)/2008-E.II (B)].

 2. Supreme Court bench has stayed the Bombay High Court’s dismissal of a challenge to the levy of service tax on lawyers. The Court also stayed the Bombay High Court order dated December 15, 2014.

 3. The date of filing of DVAT return for the quarter ended 30-06-2015 has been extended upto 17-08-2015 vide circular no. 18.

 4. RBI has decided to increase exposure ceiling limits in respect of single borrower from 25% to 50% of latest audited Net Owned Funds (NOF) and in respect of group borrower from 40% to 65% of NOF only for investments in AAA rated corporate bonds.

 5. Government has recently modified the FEMA Rules, 2000 and Liberalized Remittance Scheme for resident individuals that CA Certificate not required for certain remittances.

 6. Government extends E-Tourist visa scheme to 36 more countries and 7 more airports from August 15, 2015.

 7. Registrations open for 3 CPE- A Talk on GST and Service Tax at FICCI Auditorium, Delhi on 20th August, 2015 from 6 pm- 9pm (followed by Dinner) Fee Rs.500 visit http://www.nircseminars.org,

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