Marginal Standing Facility Rate
Posted Date : 20-Sep-2013 , 07:41:13 pm | Posted By: CASANSAAR
RBI/2013-2014/277FMD.MOAG. No. 87/01.18.001/2013-14
September 20, 2013
All Scheduled Commercial Banks (excluding RRBs)
Madam / Sir,
Marginal Standing Facility Rates
As announced today in theMid-Quarter Review of the Monetary Policy 2013-14, it has been decided to reduce the Marginal Standing Facility (MSF) rate by 75 basis points from 10.25 percent to9.50 per centwith immediate effect.
2. Consequent to this change, Marginal Standing Facility (MSF) rate is recalibrated to 200 basis points a...
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RBI |
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Standing Liquidity Facilities for Banks and Primary Dealers
Posted Date : 20-Sep-2013 , 07:40:24 pm | Posted By: CASANSAAR
RBI/2013-14/276MPD No.BC.368/07.01.279/2013-14
Bhadra 29, 1935 (Sake)September 20, 2013
ToAll Scheduled Banks [excluding Regional Rural Banks(RRBs)]and Primary Dealers
Dear Sir/Madam,
Standing Liquidity Facilities forBanks and Primary Dealers
Please refer to theMid-quarter Monetary Policy Review dated September 20, 2013, in terms of which the repo rate under the Liquidity Adjustment Facility (LAF) has been increased by 25 basis points from 7.25 per cent to 7.50 per cent with immediate effec...
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RBI |
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Companies (Removal of Difficulties) Order,2013
Posted Date : 20-Sep-2013 , 07:37:27 pm | Posted By: CASANSAAR
S.O. (E). - Whereas the Companies Act,20t3 (18 of 2013) (hereinafter reierred toas the said Act) received the assent of the presidsnt on 29rh August, 2013 and section Ithereofcame into force on the same date:
And whereas the provisions contained in section 24, section 5g and section 59 ofthe said Act have come into force on the l2th day ofseptember, 20l3;
And whereas section 24 provides for exercise of ce(ain powers regardingprospectus, return of allotment, redemption ol' preference shares an...
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Corporate Laws |
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Ammendment in the notification of Section 35(2) of the DVAT Act.
Posted Date : 20-Sep-2013 , 07:27:49 pm | Posted By: CASANSAAR
The Delhi Value Added Tax Act, 2004 (3 of 2005) has been amendedvide Notification No. F.14(5)/LA-2013/Cons2Law/65 dated 09-09-2013 andmade effective from 12-09-2013 vide Notification No. F.3(14)/Fin.(Rev-l)/2013-14/dsVII703 dated 11-09-2013 inter-alia amending Section 86(2) of the said Actto the extent of deleting the second proviso and substituting the section 35(2).Before amendment, the second proviso to the section 86(2) provided for -...
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VAT |
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DVAT - Regarding expeditious disposal of refund cases
Posted Date : 19-Sep-2013 , 08:45:39 pm | Posted By: CASANSAAR
In order to streamline the disposal of refund cases, in the first stage, all pendingrefunds, up to the period ending on 31st March, 2013, and up to Rs.l lakh in a taxperiod, would be automatically refunded centrally through ECS route to the Bankaccount of dealer based on his self-declaration. However, to verify accuracy of claim,10% of such cases would be picked up later for audit on the basis of criteria andparameters decided by the Department,...
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VAT |
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Service Tax Clarification regarding Education services
Posted Date : 19-Sep-2013 , 08:35:32 pm | Posted By: CASANSAAR
Circular No.172/7/2013 – ST
F. No.B1/14/2013-TRU
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise& Customs
Tax Research Unit
146-F, North Block
New Delhi, 19thSeptember, 2013
To
Chief Commissioners of Central Excise and Service Tax (All),
Director General (Service Tax), Director General (Central Excise Intelligence),
Director General (Audit),
Commissioners of Service Tax (All),
Commissioners of Central Excise and Service Tax (All)....
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Service Tax |
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Section 23 of the Banking Regulation Act, 1949
Posted Date : 19-Sep-2013 , 08:32:44 pm | Posted By: CASANSAAR
RBI/2013-14/274DBOD.No.BAPD.BC.54 /22.01.001/2013-14
September 19, 2013
All Domestic Scheduled Commercial Banks(excluding RRBs)
Madam / Dear Sir
Section 23 of the Banking Regulation Act, 1949 –Relaxations in Branch Authorisation Policy
Please refer to Governor’s Statement on taking office on September 04, 2013 (extract enclosed -Annex 1) regarding the proposal to completely free bank branching for well managed domestic scheduled commercial banks in every part of the country subj...
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RBI |
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Swap Window for Attracting FCNR (B) Dollar Funds
Posted Date : 19-Sep-2013 , 08:31:57 pm | Posted By: CASANSAAR
RBI/2013-14/273FMD.MOAG. No. 85/01.06.016/2013-14
September 19, 2013
To
All Scheduled Banks [excluding Regional Rural Banks (RRBs)]
Dear Sir/ Madam,
Swap Window for Attracting FCNR (B) Dollar Funds
Please refer to our circularFMD.MAOG.No.84/01.06.016/2013-14 dated September 6, 2013on the captioned subject.
2. Banks have raised various queries relating to the operationalisation of the captioned swap window. These queries along with the answers/ clarifications are put up in the RB...
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RBI |
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Foreign students studying in India
Posted Date : 19-Sep-2013 , 08:31:02 pm | Posted By: CASANSAAR
RBI/2013-14/272RPCD.RRB.RCB.AML.BC.No. 37/07.51.018/2013-14
September 18, 2013
The Chairmen / CEOs of Regional Rural Banks /State and Central Co-operative Banks
Dear Sir / Madam,
Foreign students studying in India –KYC procedure for opening of bank accounts
It has been represented to us that foreign students arriving in India are facing difficulties in complying with the Know Your Customer (KYC) norms while opening a bank account due to non-availability of any proof of local address.
...
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RBI |
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External Commercial Borrowings (ECB) Policy
Posted Date : 19-Sep-2013 , 07:49:25 am | Posted By: CASANSAAR
RBI/2013-14/270A.P. (DIR Series) Circular No. 48
September 18, 2013
To
All Category - I Authorised Dealer Banks
Madam / Sir,
External Commercial Borrowings (ECB) Policy – Liberalisation of definition of Infrastructure Sector
Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to theA.P. (DIR Series) Circular No. 5 dated August 1, 2005,A.P. (DIR Series) Circular No. 20 dated October 8, 2008andA.P. (DIR Series) Circular No. 38 dated March 02, 2010...
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FEMA |
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Ad-hoc exemption order for taxable service provided by the hotel or restaurant in the flood affected State of Uttarakhand.
Posted Date : 18-Sep-2013 , 06:55:12 pm | Posted By: CASANSAAR
F.No.354/182/2013-TRU
Government of India
Ministry of Finance
Department of Revenue
Tax Research Unit
*****
New Delhi,17thSeptember, 2013
AD-HOC EXEMPTION ORDER NO.1/1/2013
Whereas the recent floods and landslides has caused extensive damage in the State ofUttarakhandand has adversely affected the life of the common man in the state. There is a need to provide support to ensure sustenance for the local population by revival of the hospitality industry;
And whereas taxable servic...
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Service Tax |
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Guidelines for arrest and bail in relation to offences punishable under the Finance Act, 1994
Posted Date : 18-Sep-2013 , 06:53:56 pm | Posted By: CASANSAAR
F.No. 137/47/2013-Service Tax
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise & Customs
Service Tax Wing
***
New Delhi, the 17th September, 2013
To
All Chief Commissioners of Central Excise
All Chief Commissioners of Customs and Central Excise
All Directors General
All Commissioners of Service Tax
All Commissioners of Central Excise
Subject:Guidelines for arrest and bail in relation to offences punishable under the Finance Act, 1994
...
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Service Tax |
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Clarification on the notification dated 12.9.2013 - MCA
Posted Date : 18-Sep-2013 , 06:50:44 pm | Posted By: CASANSAAR
This Ministry had issued a notification on 12.09.2013 bringing into force to98 sections or part thereof of the companies Act, 2013. The said notification isavailable on the Ministry's website. This Ministry has been receiving requests forclarification as to whether the provisions of the companies Act, 1956 corresponding to such 98 sections would continue to apply or not.
lt is hereby clarified that with effect from 12.o9.2o1.g, the relevant provisionsof the companies Act, 1956, which corresp...
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Corporate Laws |
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Housing Sector: Innovative Housing Loan Products - Upfront Disbursal of Housing Loans
Posted Date : 18-Sep-2013 , 07:36:35 am | Posted By: CASANSAAR
RBI/2013-14/268UBD CO BPD (PCB) Cir. No.17/09.22.010/2013-14
September 17, 2013
The Chief Executive OfficerAll Primary (Urban) Co-operative Banks
Dear Sir / Madam,
Housing Sector: Innovative Housing Loan Products -Upfront Disbursal of Housing Loans – Primary (Urban) Co-operative Bank
It has been observed that some banks have introduced certain innovative Housing Loan Schemes in association with developers / builders, e.g. upfront disbursal of sanctioned individual housing loans to bui...
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RBI |
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Financial Inclusion- Access to Banking Services
Posted Date : 18-Sep-2013 , 07:35:43 am | Posted By: CASANSAAR
RBI/2013-14/263RPCD.RRB.RCB.AML.BC.No. 36/07.51.018/2013-14
September 17, 2013
The Chairmen / CEOs of Regional Rural Banks /State and Central Co-operative Banks
Dear Sir / Madam,
Financial Inclusion- Access to Banking Services –Basic Savings Bank Deposit Account (BSBDA) – FAQs
Please refer toCircular RPCD.CO.RRB.RCB.BC.No.24/07.38.01/2012-13 dated August 22, 2012on Basic Savings Bank Deposit Account (BSBDA) wherein banks have been advised to offer ‘Basic Savings Bank Depos...
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RBI |
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Overseas forex trading through electronic / internet trading portals
Posted Date : 18-Sep-2013 , 07:34:30 am | Posted By: CASANSAAR
RBI/2013-14/265A.P. (DIR Series) Circular No. 46
September 17, 2013
To
All Category - I Authorised Dealer Banks
Madam/ Sir,
Overseas forex trading through electronic / internet trading portals
Attention of the Authorised Dealer Category - I (AD Category - I) banks is invited toA.P. (DIR Series) Circular No. 53 dated April 07, 2011andA.P. (DIR Series) Circular No. 46 dated November 17, 2011wherein AD Category I banks were advised to exercise due caution and be extra vigilant in respect of t...
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FEMA |
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Extend the date for filing of the Form Stock-1 online to 5th October, 2013 for all dealers.
Posted Date : 17-Sep-2013 , 09:35:25 pm | Posted By: CASANSAAR
In supersession of all previous Notifications, regarding date for filing of Stock Statementin Form Stock-1 online for the stock available on 31st March, 2013, I, Prashant Goyal,Commissioner, Value Added Tax, in exercise of the powers conferred on me under sub-section( 1)read with sub-section (3) of section 70 of Delhi Value Added Tax Act, 2004, do hereby extend thedate for filing of the said form to 5th October, 2013 for all dealers....
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VAT |
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Regarding Arrest and Bail under Central Excise Act, 1944
Posted Date : 17-Sep-2013 , 09:32:39 pm | Posted By: CASANSAAR
Circular No. 974/08/2013-CX
F. No. 4/2/2011-CX-1
Government of India
Department of Revenue
Central Board of Excise & Customs
New Delhi
******
New Delhi, the 17thSeptember 2013
To
All Chief Commissioners of Central Excise & Customs,
All Chief Commissioners of Central Excise,
All Directors General,
Sir/Madam,
Subject – Arrest and Bail under Central Excise Act, 1944 - reg.
1.1 I am directed to invite your attention to the amendments to sections 9A, 20 and 21 of t...
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Excise |
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PVAT - Audit Limit increased to 1 Cr from 50 lacs
Posted Date : 17-Sep-2013 , 08:09:53 am | Posted By: CASANSAAR
In exercise of the powers conferred by sub-section (1) ofsection 70 of the Punjab Value Added Tax Act, 2005 (Punjab Act NO.8 of 2005), and allother powers enabling him in this behalf, the Governor of Punjab is pleased to make thefollowing rules further to amend the Punjab Value added Tax Rules, 2005, namely:-
RULES
1 (1) These rules may be called the Punjab Value Added Tax ( Amendment)Rules, 2013
(2)They shall come into force on and with effect from the date of theirpublication in the Of...
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VAT |
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PVAT - Change in Annual Processing Fees
Posted Date : 17-Sep-2013 , 07:57:04 am | Posted By: CASANSAAR
Annual processing fee.- Every taxable person, shall pay annualprocessing fee, as specified in the Table given below, in the month of October everyyear, and shall attach a receiptlchallan , as the case may be, as a proof of payment ofsuch fee along with the quarterly return, namely:-...
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VAT |
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Regarding All Industry Rates of Duty Drawback effective 21.09.2013
Posted Date : 16-Sep-2013 , 09:04:34 pm | Posted By: CASANSAAR
Circular No. 37 / 2013-Customs
F. No.609/115/2013-DBK
Government of India
Ministry of Finance, Department of Revenue
Central Board of Excise & Customs
New Delhi, dated 14thSeptember, 2013
To
All Chief Commissioners of Customs/Customs (Prev.)
All Chief Commissioners of Central Excise/Customs & Central Excise
All Director Generals under CBEC
All Commissioners of Customs/Customs (Prev.)
All Commissioners of Central Excise/Customs & Central Excise
Subject:All Industry Rat...
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Category :
Custom |
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Memorandum of Instructions governing money changing activities
Posted Date : 16-Sep-2013 , 09:03:09 pm | Posted By: CASANSAAR
RBI/2013-14/259A.P. (DIR Series) Circular No. 45
September 16, 2013
To,
All Authorised Persons in Foreign Exchange
Madam/ Dear Sir,
Memorandum of Instructions governing money changing activities –Location of Forex Counters in International Airports in India
Attention of Authorised Persons is invited to Para 2 (b) of theA.P.(DIR Series) Circular No.38 dated October 25, 2011.
2. On a review, it has been decided to allow non-residents to carry Indian currency upto a maximum o...
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FEMA |
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Notify that the Form DP-1 shall be submitted online by all the dealers latest by 16-10-2013.
Posted Date : 14-Sep-2013 , 09:12:54 am | Posted By: CASANSAAR
In partial modification of Notification NO.F.3(352)/PolicylV AT12013/231-241 dated28/05/2013, No.F.3(352)PolicylV AT/2013/314-324 dated 20106/2013, No.F.3(352)/PolicylV ATI20131 371-382 dated 05/07/2013, No.F.3(352)policyIVAT/2013/490-501 dated 25/07/2013 andNo.F.3(352)PolicylV AT/2013/686-697 dated 26/08/2013 regarding submission of informationonline in Form DP-1, I, Prashant Goyal, Commissioner, Value Added Tax, Government ofNational Capital Territory of Delhi, in exercise of the powers confer...
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Category :
VAT |
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Clarification on the notification dated 12.9.2013 regarding Commencement Notification Of Companies Act 2013.
Posted Date : 14-Sep-2013 , 09:08:50 am | Posted By: CASANSAAR
The companies Act 2013 received the assent ofthe president on 29th August,2013 and was notified in the Gazette of India on 30rh August, 2013. Towards theproper implementation of the companies Act 2013, first tranche of Draft Rules on16 chapters have been placed on the website of the Ministry on 9.9.2013 for inviting comments and objections/suggestions from the generalpublic/stakeholders. of the 16 chapters, only 13 chapters require specifying ofForms referred to in those chapters. The draft Form...
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Category :
Corporate Laws |
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Foreign Direct Investment (FDI) in India
Posted Date : 14-Sep-2013 , 09:01:50 am | Posted By: CASANSAAR
RBI/2013-14/255A.P. (DIR Series) Circular No. 44
September 13, 2013
To
All Category - I Authorised Dealer Banks
Madam/ Sir,
Foreign Direct Investment (FDI) in India – Review of FDI policy – definition forcontrol and sector specific conditions
Attention of Authorised Dealer Category – I (AD Category-I) banks is invited to Annex B of Schedule 1 to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified by...
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Category :
FEMA |
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Export of Goods and Services - Simplification and Revision of Declaration Form for Exports of Goods/Softwares
Posted Date : 14-Sep-2013 , 09:00:52 am | Posted By: CASANSAAR
RBI/2013-14/254A.P. (DIR Series) Circular No.43
September 13, 2013
To
All Authorised Dealers in Foreign Exchange
Madam / Sir,
Export of Goods and Services-Simplification and Revision of Declaration Form for Exports of Goods/Softwares
Attention of the Authorised Dealers is invited to Regulation 6 of theNotification No.FEMA 23/2000-RB dated May 3, 2000viz. Foreign Exchange Management (Export of Goods and Services) Regulations, 2000, as amended by theNotification No.FEMA 36/2001-RB dated Febr...
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Category :
FEMA |
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Opening of the Bank Branches for accepting the advance tax challans for Income Tax and Corporate Tax on September 14 & 15, 2013
Posted Date : 14-Sep-2013 , 09:00:02 am | Posted By: CASANSAAR
RBI/2013-2014/253DGBA.GAD.No.H – 1739/42.01.029/2013-14
September 13, 2013
The Chairman & Managing Director/The Chief Executive OfficerAll Agency Banks
Dear Sir/Madam,
Opening of the Bank Branches for accepting the advance tax challans for Income Tax and Corporate Tax on September 14 & 15, 2013
With a view to facilitate collection of advance taxes for Income Tax and Corporate Tax and meeting the probable rush of tax-payers, it has been decided in consultation with the Departme...
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RBI |
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Special Clearing on September 14 and 15, 2013
Posted Date : 14-Sep-2013 , 08:59:19 am | Posted By: CASANSAAR
RBI/2013-2014/252DPSS.CO.CHD.No. 630/03.01.03/2013-2014
September 13, 2013
The Chairman and Managing Director / Chief Executive OfficerAll Scheduled Commercial Banks including RRBs / UCBs /State Co-operative Banks / District Central Co-operative Banks/Local Area Banks
Madam / Dear Sir,
Special Clearing on September 14 and 15, 2013
With a view to facilitate accounting of Government receipts (advance taxes under income tax and corporate tax) for the financial year 2013-14 by due date (Septemb...
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RBI |
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Banks will function on Saturday and Sunday to accept advance tax; it can be paid even on Sept. 16, 2013 - CBDT
Posted Date : 12-Sep-2013 , 07:48:13 pm | Posted By: CASANSAAR
It is informed that the payment of Quarterly Advance Tax on or before 15th September, 2013 by the tax payers is a statutory requirement. All such tax payers who are liable to pay advance tax must make payments in the designated branches of the banks authorized to accept tax payments.2. All such designated branches of authorized banks have been asked to function on 14th and 15th September, 2013 (Saturday & Sunday) to accept advance tax payments. If any tax payer fails to pay the advance tax o...
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Category :
Income Tax |
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Notification for Extension of date for receipt of ITR-Vs in CPC, Bengaluru, for the cases of AY 2012-13 and 2011-12 received in e-filed in FY 2012-13.
Posted Date : 12-Sep-2013 , 07:29:26 pm | Posted By: CASANSAAR
There are many taxpayers who have uploaded their Income Tax Returns electronically (without digital signature Certificate) for A.Y. 2O1l-12 {filed during F.Y. 2O12-13} and for ITRs of A.Y. 2O12-13 [filed on or after1.4,2012], but have either not filed the corresponding ITR-V or have filed it with the local Income-tax office. ITR-V is accepted only at the Centralized Processing Center (CPC) of the Income-tax Department at Bengaluru byordinary or speed post. Therefore, a final opportunity is being...
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Category :
Income Tax |
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