CBIC launches e-Office to automate internal file handling
Posted Date : 16-Jun-2020 , 10:32:27 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) on Monday launched 'e-Office' in over 500 GST and customs offices that will help improve governance by automating the internal processes of handling files. The launch of the application marks a fundamental change in internal office proce...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1345
|
 |
IBBI reconstitutes advisory panel on insolvency, liquidation
Posted Date : 16-Jun-2020 , 10:19:24 am | Posted By CASANSAAR
The Insolvency and Bankruptcy Board of India (IBBI) has reconstituted its advisory committee on corporate insolvency resolution and liquidation.
The committee headed by Kotak Mahindra Bank CEO Uday Kotak, among other changes, has seen its expansion to 14 members instead of 12.
“The...
Continue Reading...
Category :
Insolvent Professional |
Comments :
0 | Hits : 877
|
|
FM chairs meeting with Pvt Banks, NBFCs to ensure effective roll out of ECLGS
Posted Date : 16-Jun-2020 , 10:13:23 am | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman chaired a meeting through Video Conference with officials of Major Private Banks and Non Banking Financial Companies today to ensure effective roll out of Emergency Credit Line Guarantee Scheme.
She stressed on the need to extend uninterrupted liquidity to Micr...
Continue Reading...
Category :
MSME |
Comments :
0 | Hits : 936
|
|
Option for CA Students appear in July or Nov exam - ICAI
Posted Date : 16-Jun-2020 , 10:06:20 am | Posted By CASANSAAR
During last few days, we have received mixed expression of opinions, views and requests from students, both relating to holding exams as per the schedule issued by The Institute of Chartered Accountants of India commencing from 29th July, 2020 or not holding exams in the prevailing COVID-19 pandemic...
Continue Reading...
Category :
Students Zone |
Comments :
0 | Hits : 1559
|
|
CBI registered 14,429 Cr of bank fraud cases in first half of 2020
Posted Date : 14-Jun-2020 , 10:49:46 am | Posted By CASANSAAR
In the first six months of 2020, the Central Bureau of Investigation has registered 40 cases of bank frauds and is probing bad loans worth over Rs 14,400 crore.
From probing the poster boy of the Indian banking industry to investigating an educational portal of bank fraud, the agency has remained...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 1300
|
|
RBI sets up panel to review ownership, corporate structure of Private sector banks
Posted Date : 14-Jun-2020 , 10:42:20 am | Posted By CASANSAAR
The Reserve Bank of India has constituted a five-member Internal Working Group to review the guidelines related to ownership, governance and corporate structure of private sector banks. In a press release, RBI informed that RBI Central Board Director P K Mohanty will head the committee, which will s...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1034
|
|
Institute of Company Secretaries postpones CS June session examinations till August
Posted Date : 14-Jun-2020 , 10:20:04 am | Posted By CASANSAAR
Institute of Company Secretaries of India (ICSI) has postponed examinations for the June session to August. The June session examinations for Foundation Programme, Executive Programme, Professional Programme and Post Membership Qualification (PMQ) have been postponed.
The examinations would...
Continue Reading...
Category :
Students Zone |
Comments :
0 | Hits : 1457
|
|
SC asks Franklin investors to approach SEBI before approaching it
Posted Date : 13-Jun-2020 , 08:46:08 am | Posted By CASANSAAR
he Supreme Court has dismissed a plea filed by seven Delhi-based investors, who had challenged the Franklin Templeton Mutual Fund’s move to scrap six debt schemes. The apex court asked these investors to seek the intervention of Securities & Exchange Board of India (Sebi) and other judicia...
Continue Reading...
Category :
Shares & Stock |
Comments :
0 | Hits : 785
|
|
No coercive action against pvt firms for non-payment of full wages during lockdown - SC
Posted Date : 13-Jun-2020 , 08:37:32 am | Posted By CASANSAAR
The Supreme Court on Friday directed the Centre and states not to take any coercive action till July end against private companies, which have failed to pay full wages to their employees during the coronavirus-induced lockdown period.
A bench of Justices Ashok Bhushan, Sanjay Kishan Kaul and M R ...
Continue Reading...
Category :
Finance |
Comments :
0 | Hits : 905
|
|
Key Highlights of 40th GST Council Meet
Posted Date : 13-Jun-2020 , 08:28:49 am | Posted By CASANSAAR
The 40th GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt Nirmala Sitharaman through video conferencing here today . The meeting was also attended by Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur besides Finance Minist...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1802
|
|
Delhi HC notice to Centre, RBI on plea for restructuring of loans by banks, NBFCs
Posted Date : 12-Jun-2020 , 09:40:00 am | Posted By CASANSAAR
Delhi High Court has issued notice to the Central government, Reserve Bank of India (RBI) and others on a plea seeking directions to allow a one-time restructuring of loans by all banks and non-banking financial companies (NBFCs) in the wake of coronavirus-induced lockdown.
A bench of Justice Nav...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 754
|
|
FM to chair 40th GST council meeting through video conferencing today
Posted Date : 12-Jun-2020 , 09:23:33 am | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman will chair the 40th GST council meeting through video conferencing today. This meeting of the GST council will be for the first time after the nationwide lockdown and the council is expected to discuss the revenue shortfall and the compensation to states.
In th...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1415
|
|
RBI asks SBI to appoint a Chartered Accountant as CFO
Posted Date : 11-Jun-2020 , 10:21:14 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has asked State Bank of India (SBI) to appoint chartered accountant (CA), with relevant experience, as its chief financial officer (CFO). At present, SBI does not have a CA in its top ranks — deputy managing director (DMD) or chief general manager.
A senior S...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 2806
|
|
GST will not be levied on Directors Remuneration - CBIC
Posted Date : 11-Jun-2020 , 10:13:49 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) on Wednesday said GST will not be levied on salaries paid to directors who are employees of the company. The CBIC issued a clarification following a ruling by the Rajasthan Authority of Advance Ruling (AAR) in April that said companies will have...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1496
|
|
FM asks PSU banks to focus on MSME outreach
Posted Date : 10-Jun-2020 , 10:03:15 am | Posted By CASANSAAR
Finance minister Nirmala Sitharaman on Tuesday asked public sector banks to make proactive outreach to the micro, small and medium enterprises (MSMEs) and ensure supply of credit to them.
Sitharaman asked banks to cut down on paperwork and keep the formalities simple for the sector, the Departmen...
Continue Reading...
Category :
MSME |
Comments :
0 | Hits : 1030
|
|
RBI proposes major changes in securitisation norms
Posted Date : 09-Jun-2020 , 08:57:44 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Monday proposed major changes in securitisation norms aimed at development of a strong and robust market for the same in the country.
Securitisation involves transactions where credit risk in assets are redistributed by repackaging them into tradeable securities...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 975
|
|
Sovereign Gold Bond to open on Monday, issue price fixed at Rs 4,677/gm
Posted Date : 08-Jun-2020 , 09:00:51 am | Posted By CASANSAAR
The third instalment of the Sovereign Gold Bond (SGB) scheme, issued by the Reserve Bank of India (RBI) on behalf of the government, will open for subscription for five days from Monday, June 8.
The Sovereign Gold Bond Scheme 2020-21 Series III will be opened for subscription for June 8 to June 1...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 2387
|
|
RBI to launch Rs 500 Cr payments infrastructure development fund
Posted Date : 06-Jun-2020 , 09:35:59 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Friday announced the creation of a Rs 500-crore payments infrastructure development fund (PIDF) to encourage acquirers to deploy points of sale (PoS) infrastructure — both physical and digital modes — in tier-3 to tier-6 centres as also in nor...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 916
|
|
Govts ask everyone to wear fabric face masks in public areas - WHO
Posted Date : 06-Jun-2020 , 09:22:05 am | Posted By CASANSAAR
World Health Organization has renewed its guidance to recommend that governments ask everyone to wear fabric face masks in public areas where there is a risk of transmission of COVID-19. In a press briefing yesterday, WHO Director General Tedros Adhanom Ghebreyesus also said, people over age 60 or t...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 2454
|
|
Cabinet nod to suspend IBC proceedings initiation for 1 year
Posted Date : 05-Jun-2020 , 09:01:39 am | Posted By CASANSAAR
The union Cabinet has approved a proposal to suspend initiation of bankruptcy proceedings against companies under the Insolvency and Bankruptcy Code (IBC) for a period of six months, which could be extended to one year, sources aware of developments said.
“The proposal is to suspend section...
Continue Reading...
Category :
Insolvent Professional |
Comments :
0 | Hits : 935
|
|
Centre Releases Rs.36,400 Cr as GST Compensation to States
Posted Date : 05-Jun-2020 , 08:58:17 am | Posted By CASANSAAR
Taking stock of the current situation due to COVID-19 where State Governments need to undertake expenditure while their resources are adversely hit, the Central Government has released the GST Compensation of Rs.36,400 crore to the States/UTs with Legislature for the period from December, 2019 ...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1111
|
|
SC seeks finance ministry's reply on waiver of interest on loans during moratorium period
Posted Date : 05-Jun-2020 , 08:55:07 am | Posted By CASANSAAR
The Supreme Court Thursday sought finance ministry's reply on waiver of interest on loans during the moratorium period after the RBI said it would not be prudent to go for a forced waiver of interest risking financial viability of the banks.
The top court said there are two aspects unde...
Continue Reading...
Category :
Finance |
Comments :
0 | Hits : 942
|
|
Exports not to be counted in turnover for any enterprise of the new MSME definition
Posted Date : 04-Jun-2020 , 03:41:50 pm | Posted By CASANSAAR
Union Ministry of Micro, Small and Medium Enterprises (M/o MSMEs) has issued Gazette notification to pave way for implementation of the upward revision in the definition and criteria of MSMEs in the country. The new definition and criterion will come into effect from 1st July, 2020.
Aft...
Continue Reading...
Category :
MSME |
Comments :
0 | Hits : 888
|
|
Rs 2 lakh cr will be lost if interest is waived off during loan moratorium - RBI
Posted Date : 04-Jun-2020 , 09:59:33 am | Posted By CASANSAAR
The Reserve Bank of India told the Supreme Court that it cannot waive interest on loans for the moratorium period, as it would affect the financial stability of the banking sector. In an affidavit filed in the top court, it estimated the interest payable on these loans to be Rs 2.01 lakh crore, or e...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 2032
|
|
IBBI slaps Rs 34.22 lakh penalty on an Insolvency Professional
Posted Date : 04-Jun-2020 , 09:52:37 am | Posted By CASANSAAR
Insolvency regulator IBBI’s Disciplinary Committee(DC) has slapped a penalty of Rs 34.22 lakhs on an insolvency professional, for violations of certain provisions of the Insolvency and Bankruptcy Code (IBC).
The penalty imposed is equal to 25 per cent of the fee that he had received as reso...
Continue Reading...
Category :
Insolvent Professional |
Comments :
0 | Hits : 1410
|
|
MSMEs to be classified based on new revised criteria from 1st July 2020
Posted Date : 04-Jun-2020 , 09:45:37 am | Posted By CASANSAAR
From 1st July 2020, over six crore micro, small and medium enterprises across the country will be classified on the basis of the new criteria approved by the government.
As per the revised criteria, a unit with Rs 50 crore of investment and Rs 250 crore of turnover will fall under the 'medium...
Continue Reading...
Category :
MSME |
Comments :
0 | Hits : 973
|
|
State Bank of India gives Rs 3,000 crore to MSMEs in a day
Posted Date : 03-Jun-2020 , 09:02:48 am | Posted By CASANSAAR
The government's credit guarantee scheme for micro, small and medium enterprises (MSME) has taken off with the State Bank of India (SBI) beginning disbursements.
Rajnish Kumar, chairman of SBI, the country's largest lender, on Tuesday said the public sector bank in a single day disbursed ...
Continue Reading...
Category :
MSME |
Comments :
0 | Hits : 1036
|
|
Notification on MSME criterion leads to confusion
Posted Date : 03-Jun-2020 , 09:00:23 am | Posted By CASANSAAR
Even as the central government has further revised the criterion for defining micro, small and medium enterprises (MSMEs), a disparity in the cabinet note and the gazette notification has left industrialists confused.
Under the new definition, industries having an investment into plant and machin...
Continue Reading...
Category :
MSME |
Comments :
0 | Hits : 1125
|
|
Issue of GST late fee for the past period (August 2017 to January 2020) to be discussed in the next GST Council meeting
Posted Date : 02-Jun-2020 , 09:16:30 am | Posted By CASANSAAR
In the recent past, tweets have been noticed by the Government on the issue of waiver of late fee applicable on non-filing of GSTR 3B returns. The demands are largely for the waiver of late fee for the returns which were required to be filed from the beginning of Goods & Services Tax (...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1538
|
|
Be aware of imitated Emails in the name of Reserve Bank of India - RBI
Posted Date : 02-Jun-2020 , 09:14:58 am | Posted By CASANSAAR
It has come to the notice of Reserve Bank of India that some unscrupulous entities/scamsters are imitating RBI mails for fraudulent purposes. Most of such mails are sent using fake domains, which do not belong to the Reserve Bank of India, but these could be deceptively similar involving use of word...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1571
|
|
|
