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FS Daily Bytes: 1st July

1st July will be remembered for launch of GST and also for Aadhar-PAN linkage. The day was mainly in the news for GST. For rest, pls. read ahead.

India

  1.  PM Modi, in an address to CA community on foundation day of ICAI, spoke about Gov intention to come down heavily on black money and how over 37000 shell firms are under scanner post demonetization
  2. FM, Arun Jaitley, scoffed off immediate convergence of GST rates to single or two rates
  3. 2 new PSU CEO appointee with Rajkiran Rai taking over Union Bank of India while Melwyn Rego assumed the charge for Syndicate bank
  4. Income Tax authorities have notified a new 1 page form which can be used along with SMS & online facility for linking Aadhar with PAN

 

International

  1. As per UK FCA (Financial Conduct Authority), asset managers charge nearly 3 times higher from retail customers compared to large institutions. For details, click here

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