CIC asks RBI to divulge list of wilful defaulters in 45 days
Posted Date : 19-Nov-2018 , 11:02:33 am | Posted By CASANSAAR
The Central Information Commission has pulled up the Reserve Bank of India (RBI) for its “anti-RTI (Right to Information) policy” and asked the banking regulator to divulge the list of wilful defaulters of loans within 45 days as ordered by the Supreme Court in its 2015 judgement.
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RBI |
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CAG GST audit report likely to be tabled in Winter Session
Posted Date : 19-Nov-2018 , 09:13:14 am | Posted By CASANSAAR
The Comptroller and Auditor General (CAG) of India is conducting performance audit of goods and services tax (GST) and is likely to finalise its report soon. The performance audit report on GST implementation could be tabled in Parliament as early as in the forthcoming Winter Session beginning 11 De...
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GST |
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Finance Secretary Hasmukh Adhia to retire on november 30
Posted Date : 17-Nov-2018 , 10:44:29 pm | Posted By CASANSAAR
Finance Secretary Hasmukh Adhia will retire on November 30, Finance Minister Arun Jaitley said on Saturday.
"Hasmukh Adhia, the Finance Secretary, retires at the end of this month. He has been in the Finance Ministry for four years and held the specific responsibility of the Revenue Secretary ...
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Finance |
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HC allows adjustment of wrong payment in GST
Posted Date : 17-Nov-2018 , 08:51:59 am | Posted By CASANSAAR
In what is seen as a major relief for GST assessees, especially dealers, the Kerala High Court has ruled that any GST mistakenly paid under one head can be adjusted under the correct head.
While noting that it sees no difficulty for the tax authorities to allow the petitioner’s request and ...
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GST |
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New RBI window may not increase credit to NBFCs
Posted Date : 17-Nov-2018 , 08:41:32 am | Posted By CASANSAAR
The partial credit enhancement (PCE)facility by the Reserve Bank of India's (RBI) for non-bank lenders is unlikely to have the desired impact of increasing credit flow to the troubled sector, a report said Friday.
On November 2, RBI had allowed banks to provide PCE for debt raised by non-depo...
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RBI |
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Open House Discussion on Issues related to GST Audit & Annual Returns in Delhi
Posted Date : 16-Nov-2018 , 02:09:08 am | Posted By CASANSAAR
CASANSAAR Cordinally Invites you to Join us for
Open House Discussion on Issues related to GST Audit & Annual Returns.
Key Speakers :-
CA Nagesh Bajaj.
CA Puneet Agrawal
CA Gaurav Gupta
CA Shaifaly Girdharwal
CA Nitin Gupta
Venue ...
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GST |
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RBI cancels registration of 65 NBFCs
Posted Date : 16-Nov-2018 , 07:35:35 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) today cancelled certificate of registration of 65 NBFCs through two separate notifications for unspecified reasons.
Most of these NBFCs are in Delhi, while a few of them are in Uttar Pradesh and Haryana. While only one each are from Ahmedabad and Coimbatore.
The...
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RBI |
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Goods can be impounded for lapses under GST - Kerala HC
Posted Date : 16-Nov-2018 , 07:29:45 am | Posted By CASANSAAR
Authorities impounded a car being sent by a dealer from Puducherry to Thiruvananthapuram for personal use of his customer without an e-way bill. It has to be generated if goods worth more than Rs 50,000 are transported, but is not applicable on goods for personal consumption. The matter went to the ...
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GST |
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RBI imposes fine of Rs 3 crore each on Deutsche Bank, J&K Bank
Posted Date : 15-Nov-2018 , 01:09:30 pm | Posted By CASANSAAR
The Reserve Bank said Wednesday it has imposed a penalty of over Rs 3 crore on Deutsche Bank for non-compliance of various norms, including asset classification and KYC.
The RBI also slapped a fine of Rs 3 crore on state-owned Jammu and Kashmir Bank Ltd for violating similar norms.
The R...
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RBI |
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0 | Hits : 931
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NFRA Rules Notified - NFRA to Scrutinise Listed and Large Unlisted Companies
Posted Date : 15-Nov-2018 , 01:07:19 pm | Posted By CASANSAAR
Five years after the Companies Act, 2013 provided for the creation of a National Financial Reporting Authority, an audit super regulator of sorts, the government has taken a step towards its creation.
The Ministry of Corporate Affairs has notified rules determining the jurisdiction,...
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NFRA |
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Bengaluru I-T dept busts Rs 1,200 crore fake GST invoice scam
Posted Date : 15-Nov-2018 , 01:03:00 pm | Posted By CASANSAAR
Three men have been arrested for generating fake bills worth Rs 1,200 crore under the new Goods and Services Tax (GST) regime by the income tax department in Bengaluru after a two-month long investigation, officials said on Thursday.
The three men identified as Suhail, Basha and Hafeezur were arr...
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GST |
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0 | Hits : 994
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SC move to split pleas challenging constitutional validity of IBC
Posted Date : 15-Nov-2018 , 12:53:55 pm | Posted By CASANSAAR
Banks have got more time to resolve stressed assets as the Supreme Court has asked the parties to segregate all petitions related to the Reserve Bank of India’s (RBI) February 12 circular in to two buckets — those challenging the constitutional validity of insolvency proceedings and thos...
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Insolvent Professional |
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Income Tax Returns not filed in 80,000 cases Post-Notes Ban
Posted Date : 15-Nov-2018 , 12:48:47 pm | Posted By CASANSAAR
The Income Tax Department is "chasing" 80,000 cases where people have not filed their returns post-demonetisation, despite the taxman sending them notices to do so, a senior official said on Wednesday. After inaugurating a stall of the Income Tax Department at the India International Trade...
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Income Tax |
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RBI refuses to give info on NPAs, loan defaulters to SEBI
Posted Date : 15-Nov-2018 , 12:45:47 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has declined to pass on information about non-performing assets (NPAs) and loan defaulters that the Securities and Exchange Board of India (Sebi) has asked for in the past year, according to two people with knowledge of the development.
The banking regulator&...
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RBI |
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Govt orders Telcos’ Audit, suspects under-reporting of revenues
Posted Date : 14-Nov-2018 , 09:24:35 am | Posted By CASANSAAR
At a time when the telecom industry is facing a severe financial distress, the government is understood to have ordered a comprehensive audit of their financial filings on suspicion of under-reporting of revenues.
The government, which gains revenues from the sector as a percentage of their adjus...
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Auditing |
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Union Bank to raise up to Rs 600 cr by issuing shares under ESPS
Posted Date : 14-Nov-2018 , 09:12:39 am | Posted By CASANSAAR
The board of Union Bank of India has cleared a proposal to raise up to Rs 600 crore by issuing shares to its staff under the employee share purchase scheme.
The proposal was approved in a board meeting on Monday, the bank said in a regulatory filing. The bank proposes to raise capital through iss...
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Banking |
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VAT Act can't be used against Chartered Accountants, lawyers -Gujarat HC
Posted Date : 14-Nov-2018 , 09:04:12 am | Posted By CASANSAAR
A division bench of Justices AS Dave and Biren Vaishnav of Gujarat High Court has ruled that misconduct proceedings cannot be initiated against advocates, chartered accountants, and cost accountants under the Gujarat VAT Act. The bench also ruled that the respective professional bodies — Bar C...
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VAT |
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RBI needs to align capital adequacy norms with Basel III norms
Posted Date : 14-Nov-2018 , 09:01:15 am | Posted By CASANSAAR
The government is of the view that the Reserve Bank should resort to Basel III norms for capital adequacy in banks rather than the present stricter guidelines which restrict the lending capacity of lenders, sources said.
Currently, the RBI applies stricter norms and not those specified unde...
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RBI |
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0 | Hits : 1530
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SEBI issues norms for enhanced disclosures by rating agencies
Posted Date : 14-Nov-2018 , 08:43:21 am | Posted By CASANSAAR
Markets regulator SEBI asked credit rating agencies (CRAs) to analyse the deterioration in the liquidity conditions of the issuer and take into account any asset-liability mismatch while reviewing ratings.
Besides, SEBI has introduced a specific section on liquidity among key rating drivers that ...
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SEBI |
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0 | Hits : 847
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Only 4 PSBs disclose defaulters list
Posted Date : 13-Nov-2018 , 09:43:47 am | Posted By CASANSAAR
Even as the government and the central bank remain reluctant to make the names of wilful defaulters public, four state owned banks have already made this information available on their websites.
On November 2, the Central Information Commission sent a notice to the RBI and PM’s office askin...
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Banking |
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0 | Hits : 974
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Polling Booth Details for ICAI Election - Northern Region
Posted Date : 12-Nov-2018 , 07:00:23 am | Posted By CASANSAAR
Check your Polling Booth Detail for ICAI Election - Northern Region.
Click on the link & Enter your Membership No. (MRN) without useing zero before that. i.e. if your
Membership no. is 2134 then dont use 002134, only enter 2134
or if your
Membership no. is 98765 the...
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ICAI Election |
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Govt refuses to yield on Section 7 of RBI Act
Posted Date : 12-Nov-2018 , 12:12:03 pm | Posted By CASANSAAR
Three IRS officers have been appointed as new members in the CBDT, the policy-making body for the Income Tax (I-T) Department.
The officers P K Dash, Akhilesh Ranjan and Neena Kumar, are from the 1982-batch of the Indian Revenue Service (IRS) and have taken charge of their posts in the Central Bo...
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RBI |
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0 | Hits : 1031
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3 new members appointed to CBDT
Posted Date : 12-Nov-2018 , 12:04:04 pm | Posted By CASANSAAR
Three IRS officers have been appointed as new members in the CBDT, the policy-making body for the Income Tax (I-T) Department.
The officers P K Dash, Akhilesh Ranjan and Neena Kumar, are from the 1982-batch of the Indian Revenue Service (IRS) and have taken charge of their posts in the Central Bo...
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CBDT |
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0 | Hits : 905
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RBI cancels registration of 31 NBFCs, majority from West Bengal
Posted Date : 09-Nov-2018 , 09:53:27 pm | Posted By CASANSAAR
The Reserve Bank of India on Friday cancelled the certificate of registrations of as many as 31 non-banking finance companies (NBFCs) for unspecified reasons.
It also cancelled the certificate of registrations of 17 NBFCs following a request by them for the same. The action comes amid diffi...
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RBI |
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0 | Hits : 1199
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HC of Karnataka slaps a fine of Rs 1 lakh on Commissioner of Service Tax
Posted Date : 09-Nov-2018 , 09:44:20 pm | Posted By CASANSAAR
The High Court recently imposed an ‘exemplary cost’ of Rs 1 lakh on the Commissioner of Service Tax (Appeals) Suresh Kumar, which he has to pay “from his personal funds”. The fine came after what the HC termed was a “total callous, negligent and disrespectful behaviour ...
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Service Tax |
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0 | Hits : 1541
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Advisory to UIN Entities claiming GST Refunds
Posted Date : 09-Nov-2018 , 08:54:35 pm | Posted By CASANSAAR
The GST Act provides for allotting a Unique Identification Number (UIN) to Consulates, Embassies and other UN Organizations to enable such entities to claim refund of GST paid. One of the conditions for claiming this refund is to file Invoice Level Data in their FORM GSTR-11 on the common ...
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GST |
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0 | Hits : 901
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Election Manifesto of KHURANA VIVEK - CC S. No.13
Posted Date : 09-Nov-2018 , 04:57:32 am | Posted By CASANSAAR
Election Manifesto of KHURANA VIVEK - CC S. N. 13
Respected Professional Colleagues,
With the grace of almighty God and your continuing support, I have offered my candidature for ensuing election to the Central Council (CC - North) and seek your kind first preference vote and support.
I a...
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ICAI Election |
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0 | Hits : 1882
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4 public sector banks may come out of PCA shackles
Posted Date : 09-Nov-2018 , 09:26:14 am | Posted By CASANSAAR
The government expects four public sector banks (PSBs) to graduate from the Reserve Bank’s prompt corrective action framework based on their improved financial performance.
The government will cite this to persuade RBI to relax the PCA regime for the remaining seven banks so that they...
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Banking |
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0 | Hits : 1079
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No let-up in sanction of GST Refunds - CBIC
Posted Date : 09-Nov-2018 , 09:24:13 am | Posted By CASANSAAR
There are concerns being raised about growing pendency of GST Refunds. Exporters arereassured that there is no le-tup in the sanction of GST refunds. The disposal rate is consistently improving month-on-month. As on 31st October, 2018, total GST refunds to the tune of Rs 82,775 crore have been dispo...
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GST |
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0 | Hits : 945
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RBI relaxes ECB norms for infrastructure creation
Posted Date : 09-Nov-2018 , 09:21:27 am | Posted By CASANSAAR
The Reserve Bank of India on Wednesday liberalised the norms governing foreign borrowings for infrastructure creation.
The central bank in a notification said that the minimum average maturity requirement for the External Commercial Borrowings, ECBs in the infrastructure space raised by eli...
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RBI |
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