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External Commercial Borrowing (ECB) Policy Rationalisation and Liberalization On a review of the current ECB policy, it has been decided, in consultation with the Government of India, to further rationalise and liberalize the ECB Policy as under : (i)
Posted Date : 26-Sep-2011 , 04:56:15 pm | Posted By: CA.VIRAL JANI

On a review of the current ECB policy, it has been decided, in consultation with the Government of India, to further rationalise and liberalize the ECB Policy as under : (i) The limit for eligible borrowers to avail of ECB under the automatic route per financial year has been enhanced as follows: corporates in real sector-industrial sector-infrastructure sector – USD 750 million or equivalent as against the present limit of USD 500 million or equivalent. corporates in specified ...

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Category : RBI | Comments : 0 | Hits : 219

SECURITIES AND EXCHANGE BOARD OF INDIA (SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS) REGULATIONS, 2011
Posted Date : 24-Sep-2011 , 06:43:07 pm | Posted By: CA.VIRAL JANI

In exercise of the powers conferred undersection 30 read with clause (h) of sub-section (2) of section 11 of the Securities andExchange Board of India Act, 1992 (15 of 1992) the Securitiesand Exchange Board ofIndia hereby, makes the following regulations, namely: — For Detail Notification go to the Following Link: http://www.sebi.gov.in/cms/sebi_data/attachdocs/1316778211380.pdf ...

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Category : SEBI | Comments : 0 | Hits : 275

Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and consequential amendments to Clause 35 of the Equity Listing Agreement.
Posted Date : 24-Sep-2011 , 06:33:02 pm | Posted By: CA.VIRAL JANI

1. Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and consequential amendments to Clause 35 of the Equity Listing Agreement. In exercise of the powers conferred by Section 30 of the Act, SEBI has framed the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (hereinafter referred to as “the SAST Regulations 2011”), which have been notified today i.e. September 23, 2011. Notification of SEBI (Substan...

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Category : SEBI | Comments : 0 | Hits : 319

Dishonour of electronic funds transfer for insufficiency of funds in the bank account clarification
Posted Date : 22-Sep-2011 , 07:46:41 am | Posted By: CASANSAAR

As you may be aware section 25 of the paymentand Settlement Systems Act, 2007 accords the same rights and remedies to the payee (beneficiary) against dishonour ofelectronic fund transferinstructions for insufficiency of funds in the account of the payer (remitter), as are available to the payee under section 138 of the Negotiable Instruments Act, 1881. 2. The sub-section (5) of the section 25 of thePaymentand Settlement Systems Act, 2007 provides for punishment of two years and twice the amou...

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Category : RBI | Comments : 0 | Hits : 436

Exemption of Service Tax to the Tune of R & D cess Payable - IPR Service
Posted Date : 21-Sep-2011 , 10:26:29 am | Posted By: Ashish Karundia

Government of India Ministry of Finance (Department of Revenue) Notification No. 47/2011 – Service Tax New Delhi, the 19thSeptember, 2011 G.S.R. (E).-In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following amendment in notification of the Government of India in the Ministry of Finance (Department of Reve...

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Category : Service Tax | Comments : 0 | Hits : 461

Exclusion of certain topics in the CA Final Examination to be held in November, 2011 and thereafter - (23-06-2011)
Posted Date : 20-Sep-2011 , 10:07:01 am | Posted By: Ashish Karundia

IMPORTANT ANNOUNCEMENT BoS/Announcement/227/11 June 23, 2011 Sub: Exclusion of certain topics in the CA Final Examination to be held in November, 2011 and thereafter ------- On a review of the syllabus for the Final Course, the Council has decided to exclude the following topics from the Final Examination to be held in November, 2011 and thereafter:- Paper 1 Financial Reporting - Inflation Accounting Paper 5 Advanced Management Accounting - Time Series Analysis; and - Test of Hypot...

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Category : Students Zone | Comments : 0 | Hits : 1863

Important Announcement - Non-Applicability of POT Rules, 2011 and Consequential Amendments for November 2011 Examinations - (22-07-2011)
Posted Date : 20-Sep-2011 , 10:05:31 am | Posted By: Ashish Karundia

ICAI Website...

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Category : Students Zone | Comments : 0 | Hits : 882

Regarding mandatory e-filing of Central Excise Returns in ACES
Posted Date : 20-Sep-2011 , 07:39:54 am | Posted By: CASANSAAR

Circular No.955/16/2011-CX F.No.201/10/2011-CX.6 Ministry of Finance Department of Revenue Central Board of Excise and Customs New Delhi, the 15thSept., 2011 To All Chief Commissioners of Central Excise All Chief Commissioners of Customs & Central Excise All Chief Commissioners of LTU Sub:Mandatory e-filing of Central Excise Returns in ACES-regarding Sir/Madam, It has been decided to make it mandatory for the assessees to submit the prescribed Central Excise Retur...

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Category : Excise | Comments : 0 | Hits : 311

Gift in Rupees by Resident Individuals to NRI close relatives
Posted Date : 16-Sep-2011 , 07:46:34 pm | Posted By: Vasu Butti

To All Banks Authorised to Deal in Foreign Exchange Madam / Sir, Gift in Rupees by Resident Individuals to NRI close relatives Attention of the Authorised Dealer (AD) banks is invited toA.P. (DIR Series) Circular No. 24 dated December 20, 2006andA.P. (DIR Series) Circular No. 9 dated September 26, 2007in terms of which the remittances towards gift and donation by a resident individual was included in the Liberalised Remittance Scheme. 2.The Committee to review the facilities for i...

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Category : RBI | Comments : 0 | Hits : 408

Standing Liquidity Facilities for Banks and Primary Dealers
Posted Date : 16-Sep-2011 , 07:43:49 pm | Posted By: Vasu Butti

To All Scheduled Banks [excluding Regional Rural Banks(RRBs) ] and Primary Dealers Dear Sir/Madam, Standing Liquidity Facilities for Banks and Primary Dealers Please refer to theMid-Quarter Monetary Policy Review of September 16, 2011, in terms of which the repo rate under the Liquidity Adjustment Facility (LAF) has been increased by 25 basis points from 8.00 per cent to 8.25 per cent with immediate effect. 2. Accordingly, the Standing Liquidity Facilities provided to banks (export...

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Category : RBI | Comments : 0 | Hits : 342

RBI/2011-12/180 A.P. (DIR Series) Circular No. 18
Posted Date : 16-Sep-2011 , 07:41:59 pm | Posted By: Vasu Butti

To All Banks Authorised to Deal in Foreign Exchange Madam / Sir, Loans in Rupees by resident individuals to NRI close relatives Attention of the Authorised Dealer (AD) banks is invited toRegulation 7 of theNotification No. FEMA 4/2000 dated May 3, 2000, viz. Foreign Exchange Management (Borrowing and Lending in Rupees) Regulations, 2000, as amended from time to time, in terms of which an authorised dealer in India may grant loan in rupees to a non-resident Indian. 2. The Committee...

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Category : RBI | Comments : 0 | Hits : 441

Regarding mandatory e-filing of Central Excise returns in ACES thereby amending CENVAT Credit Rules, 2004 (Fourth Amendment)
Posted Date : 16-Sep-2011 , 01:18:13 pm | Posted By: CASANSAAR

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3,SUB-SECTION (i)] GOVERNMENT OFINDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No.22/ 2011 - Central Excise (N.T.) New Delhi, the 14thSeptember, 2011 G.S.R.(E).- In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944) and section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the CEN...

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Category : Excise | Comments : 0 | Hits : 386

Regarding Export of Non-Basmati Rice, Wheat and Onions
Posted Date : 16-Sep-2011 , 07:55:43 am | Posted By: CASANSAAR

Circular No.41/ 2011 - Customs F.No.450/112/2011- Cus IV Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs 229-A, North Block, New Delhi, 14thSeptember, 2011. To All Chief Commissioners/ Commissioners of Customs / Customs (Prev.), All Chief Commissioners/ Commissioner of Customs & Central Excise, All Directors General under CBEC. Sir / Madam, Subject: Export of Non-Basmati Rice, Wheat and Onions - Reg. DGFT has...

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Category : Custom | Comments : 0 | Hits : 507

Regarding voluntary payment of duty before final assessment
Posted Date : 12-Sep-2011 , 07:17:46 pm | Posted By: CASANSAAR

Circular No.40 / 2011 - Customs F.No. 528/33/2011-STO (TU) Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs 299-A, North Block, New Delhi, 9thSeptember, 2011. To All Chief Commissioners / Commissioners of Customs / Customs (Prev.), All Chief Commissioners / Commissioner of Customs & Central Excise, All Directors General under CBEC. Sir / Madam, Subject: Voluntary payment of duty before final assessment-regarding. ...

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Category : Custom | Comments : 0 | Hits : 321

Amends Notification No. 31/2009-Service Tax, dated the 1st September, 2009 - This notification exempts certain taxable service
Posted Date : 12-Sep-2011 , 02:47:42 pm | Posted By: Vasu Butti

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] Government of India Ministry of Finance (Department of Revenue) Notification No. 44/2011 – Service Tax New Delhi, the 9thSeptember, 2011 G.S.R.(E).-In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following amen...

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Category : Service Tax | Comments : 0 | Hits : 326

Customs - Amends Notification No. 14/2010-Customs - Regarding anti dumping duty on Cold Rolled Flat Products of Stainless Steel, originating in, or exported fro ......
Posted Date : 12-Sep-2011 , 10:49:57 am | Posted By: Neha Jain

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] Government of India Ministry of Finance (Department of Revenue) New Delhi, the 6th September, 2011 Notification No.86/2011-Customs G.S.R. (E).- Whereas, in the matter of import of Cold-Rolled Flat products of Stainless Steel of the width of 600 mm up to 1250 mm of all series further worked then Cold Rolled (cold reduced) with a thickness of up to 4mm, originating in or export...

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Category : Custom | Comments : 0 | Hits : 256

DGFT - Ban on export of Onions.
Posted Date : 12-Sep-2011 , 10:46:29 am | Posted By: Neha Jain

To be Published in the Gazette of India Extraordinary Part-II, Section - 3, Sub-Section (ii)) Government of India Ministry of Commerce & Industry Department of Commerce Udyog Bhawan Notification No 73 (RE – 2010)/2009-2014 New Delhi, Dated : 9th September, 2011 Subject:- Ban on export of Onions. S.O. (E) In exercise of powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No. 22 of 1992) read with Para 2.1 of the Foreign Trade Policy,...

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Category : DGFT | Comments : 0 | Hits : 304

DGFT - Online transmission of DES (Advance Authorization), EPCG and DEPB at ICD Karur(INKAR 6) w.e.f. 12.09.2011 - regarding.
Posted Date : 12-Sep-2011 , 10:42:35 am | Posted By: Neha Jain

Government of India Ministry of Commerce Industry Directorate General of Foreign Trade Udyog Bhawan, New Delhi-110001 Policy Circular No.40(RE-2010)/2009-14 Dated the, 9th September, ,2011 Sub:- Online transmission of DES (Advance Authorization), EPCG and DEPB at ICD Karur (INKAR 6 )w.e.f. 12.09.2011 - regarding. As and when Customs (CBEC) have conveyed their readiness to implement on-line message exchange between Customs and DGFT, Policy Circulars have been issued from time to time by...

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Category : DGFT | Comments : 0 | Hits : 547

Guidelines on Base Rate
Posted Date : 11-Sep-2011 , 11:33:05 am | Posted By: Vasu Butti

All Scheduled Commercial Banks(excluding RRBs) Dear Sir / Madam Guidelines on Base Rate Please refer to our circular No. DBOD.Dir.BC.88/13.07.001/2009-10 dated April 9, 2010 and our letter DBOD.Dir.No. 21957/13.07.001/ 2009- 10 dated June 24, 2010 addressed to Indian Banks’ Association (IBA) on the subject. 2. The National Scheduled Tribes Finance and Development Corporation (NSTFDC), a wholly owned Government of India Section 25 Company under the Ministry of Tribal Affairs, ...

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Category : RBI | Comments : 0 | Hits : 257

Compliance of the provisions of Companies Act, 1956 and Rules made thereunder
Posted Date : 10-Sep-2011 , 09:14:23 am | Posted By: CASANSAAR

Compliance of the provisions of Companies Act, 1956 and Rules made thereunder. Click here for Circlar ...

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Category : Corporate Laws | Comments : 0 | Hits : 349

Regarding stuffing of export containers under supervision of Central Excise Officers
Posted Date : 10-Sep-2011 , 09:00:52 am | Posted By: CASANSAAR

CircularNo. 952/13/2011-CX F. No 224/57/2011-CX.6 Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs ******************************* New Delhi, the 8thSeptember, 2011 To, (i)The Chief Commissioner of Central Excise (All), (ii)The Chief Commissioner of Central Excise & Customs (All), (iii)The Chief Commissioner of Customs (All), (iv)Directors General (All) Madam/ Sir, Subject:Stuffing of export containers under supervision of ...

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Category : Excise | Comments : 0 | Hits : 282

Substitution of term Micro and Small Enterprises in place of SSI in the documents
Posted Date : 07-Sep-2011 , 10:37:52 pm | Posted By: Vasu Butti

The ChairmenAll Regional Rural Banks (RRBs) Dear Sir, Substitution of term Micro and Small Enterprises in place of SSI in the documents Copies of thenotification No.S.O.1642 (E) dated September 29, 2006issued by the Ministry of Small Scale Industries andS.O.563 (E) dated February 27, 2009issued by Ministry of Commerce and Industry regarding substitution of term 'Micro and Small Enterprises' in place of the term 'Small Scale Industries' are enclosed. Kindly ensure that your internal ...

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Category : RBI | Comments : 0 | Hits : 219

Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR
Posted Date : 07-Sep-2011 , 10:36:09 pm | Posted By: Vasu Butti

o All Category - I Authorised Dealer Banks Madam / Sir, Deferred Payment Protocols dated April 30, 1981 and December 23, 1985between Government of India and erstwhile USSR Attention of Authorised Dealer Category-I (AD Category-I) banks is invited toA.P. (DIR Series) Circular No.41 dated February 11, 2011, wherein the Rupee value of the special currency basket was indicated asRs.64.7004 effective from January 31, 2011. 2. AD Category-I banks are advised that a further revision has ta...

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Category : RBI | Comments : 0 | Hits : 215

Submission of Credit Information to Credit Information Companies Dissemination of Credit Information of suit-filed accounts
Posted Date : 07-Sep-2011 , 10:33:55 pm | Posted By: Vasu Butti

Chairmen/Managing Directors/CEOsAll Scheduled Commercial Banks(excluding RRBs and LABs)All India Notified Financial Institutions Dear Sir, Submission of Credit Information to Credit Information Companies –Defaulters ofRs.1 Crore and above andWilful Defaulters ofRs.25 lakh and above –Dissemination of Credit Information of suit-filed accounts Please refer to ourCirculars DBOD.No.DL.BC.111/20.16.001/2001-02 dated June 4, 2002regarding submission of credit information to Credi...

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Category : RBI | Comments : 0 | Hits : 275

RTGS service charges for members
Posted Date : 07-Sep-2011 , 02:25:04 am | Posted By: Anjali Arora

RBI/2011-12/166 DPSS (CO) RTGS No.388/04.04.002/2011-2012 September 05, 2011 Chairman and Managing Director /Chief Executive Officer of all RTGS participants Madam / Dear Sir, RTGS service charges for members As you are aware, the Reserve Bank of India has not been levying any service charges on the members for the usage of the RTGS system since its inception. 2. In consultation with stakeholders it has since been decided to levy service charges for all outward transacti...

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Category : RBI | Comments : 0 | Hits : 259

Regarding Self-Assessment in Customs
Posted Date : 06-Sep-2011 , 08:19:09 am | Posted By: CASANSAAR

Circular No.39/2011-Customs F.No.450/20/2007-Cus.IV Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs 227-B, North Block, New Delhi-110001. 2ndSeptember, 2011. To All Chief Commissioners of Customs / Customs (Prev.). All Chief Commissioners of Customs & Central Excise. All Commissioners of Customs / Customs (Prev.). All Commissioners of Customs & Central Excise. AllDirector Generals under CBEC. Subject:Self-Assess...

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Category : Custom | Comments : 0 | Hits : 216

Revised Schedule VI shall be effective from 01.04.2011 (Clarification on Notification No S.O. 447 (E) dated 28.02.2011)
Posted Date : 06-Sep-2011 , 04:37:07 am | Posted By: CASANSAAR

Clarification on Notification No S.O. 447 (E) dated 28.02.2011 on Revised Schedule VI (shall be effective from 01.04.2011). Click here for complete Circular...

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Category : Corporate Laws | Comments : 0 | Hits : 960

Online incorporation of companies within 24 hours
Posted Date : 06-Sep-2011 , 04:22:32 am | Posted By: CASANSAAR

General Circular No. 61/2011 No 2/10/2011-CL.V Government of India Ministry of Corporate Affairs 5th floor, ‘A’ Wing, Shastri Bhawan, Dr. Rajendra Prasad Road, New Delhi Dated the 5th Sept, 2011 To, All Regional Directors All Registrar of Companies. Sub: Online incorporation of companies within 24 hours Sir, Please refer to this Ministry’s General Circular No. 49/2011 dated 23rd July, 2011 intimating that this Ministry is simplifying the procedures under the...

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Category : Corporate Laws | Comments : 0 | Hits : 359

Income Tax Notification No. 44 - Additional Commissioner of Income Tax, (Central Range) Chandigarh shall be subordinate to Commissioner of Income-tax (Central) Gurgaon
Posted Date : 05-Sep-2011 , 11:55:27 am | Posted By: CA SUBHASH KR.

NOTIFICATION NO 44/2011 Dated: August 26, 2011 In exercise of the powers conferred by section 118 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby directs that the Additional Commissioner of Income Tax, (Central Range) Chandigarh shall be subordinate to Commissioner of Incometax (Central) Gurgaon. F.No.187/6/2011-ITA.I (Raman Chopra) Director (ITA.I) ...

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Category : Income Tax | Comments : 0 | Hits : 570

Import of Marble from Bhutan.
Posted Date : 05-Sep-2011 , 05:01:44 am | Posted By: Neha Jain

TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART-II, SECTION-3, SUB SECTION (ii) GOVERNMENT OF INDIA MINISTRY OF COMMERCE & INDUSTRY DEPARTMENT OF COMMERCE NOTIFICATION No. 69 (RE-2010)/2009-14 New Delhi, Dated: 1st September, 2011 S.O. (E) In exercise of powers conferred under section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with paragraph 2.1 of the Foreign Trade Policy, 2004-09, the Central Government hereby makes the following amendments in...

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Category : DGFT | Comments : 0 | Hits : 289

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