Circular regarding applicability of newly notified Forms DVAT-16 and DVAT-17.
Posted Date : 18-Jul-2013 , 07:44:17 pm | Posted By: CASANSAAR
The Government vide notification no.F.3(4)/Fin.(Rev.-I)/2013-14/DSVI/519 dated09.07.2013 has notified revised forms DVAT-16 and DVAT-17. A number of queries arepouring in from various professionals and Trade Associations regarding the quarter fromwhich these forms will be applicable, since the relevant details required in revised forms maynot have been maintained by dealers.
In view of the fact that the said notification came into force on the date of publicationin the Delhi Gazette i.e. on 0...
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CBDT\'s clarification - Exemption under Sec. 10A, 10AA, 10B and 10BA are available after set off of losses
Posted Date : 17-Jul-2013 , 09:42:44 pm | Posted By: CASANSAAR
SECTION 10A, READ WITH SECTIONS 10AA & 10B OF THE INCOME-TAX ACT, 1961 - FREE TRADE ZONE - DIRECT TAX BENEFITS - CLARIFICATION ON ISSUES RELATING TO APPLICABILITY OF CHAPTER IV OF THE ACT AND SET OFF AND CARRY FORWARD OF BUSINESS LOSSES
CIRCULAR NO. 7/DV/2013 [FILE NO.279/MISC./M-116/2012-ITJ],DATED 16-7-2013
It has been brought to the notice of the Board that the provisions of 10A/10AA/10B/10BA of the Income-tax Act, with regard to applicability of Chapter IV of the Act and set off and ca...
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CBDT issues instruction to effectively handle the SLPs or appeals to be filed by assessees
Posted Date : 17-Jul-2013 , 09:41:45 pm | Posted By: CASANSAAR
SECTION 261 OF THE INCOME-TAX ACT, 1961 - SUPREME COURT - APPEALS TO - INSTRUCTION REGARDING STANDARD OPERATING PROCEDURE FOR APPEALS/SLPS FILED BY THE ASSESSEES IN THE SUPREME COURT AND RELATED MATTERS
INSTRUCTION NO. 8/2013 [F NO. 279/MISC./M-33/2013-ITJ],DATED 16-7-2013
Instruction No. 4 of 2011 dated 9th March 2011of CBDT laying down the Standard Operating procedure on filing of appeals/SLPs by the Income Tax Department contains, inter-alia, the procedure to be followed in the case of SLPs...
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Income Tax |
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Maintenance of Statutory Liquidity Ratio (SLR)
Posted Date : 17-Jul-2013 , 09:38:38 pm | Posted By: CASANSAAR
RBI/2013-14/144DBOD.No.Ret.BC. 33/12.02.001/2013-14
July 17, 2013
All Scheduled Commercial Banks(Excluding Regional Rural Banks)
Dear Sir,
Section 24 of the Banking Regulation Act, 1949 – Maintenance of Statutory Liquidity Ratio (SLR) – Marginal Standing Facility (MSF)
Please refer to ourcircular DBOD.No.Ret.BC.95 /12.02.001/2011-12 dated April 17, 2012wherein it was advised that Scheduled Commercial Banks (SCBs) may borrow overnight up to 2 per cent of their respective Net Dema...
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CBDT directs officials not to deny interest on excess TDS unless assessee is at fault for such delay
Posted Date : 16-Jul-2013 , 09:15:30 pm | Posted By: CASANSAAR
SECTION 244A OF THE INCOME-TAX ACT, 1961 - REFUNDS - INTEREST ON - PAYMENT OF INTEREST UNDER SECTION 244A WHEN ASSESSEE IS NOT AT FAULT
INSTRUCTION NO. 7/2013 [F.NO.312/54/2013-OT],DATED 15-7-2013
Hon'ble Delhi High Courtvideits judgment in case ofCourt On its Own Motionv.UOIin W.P.(C) 2659/2012 dated 14-3-2013 [2013] 31 taxmann.com 31 (Delhi) has issued sevenMandamusfor necessary action by the Income-tax Department. OneMandamusis on payment of interest under section 244A of Income-tax Ac...
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Standardization and Enhancement of Security Features in Cheque Forms/Migrating to CTS 2010 standards
Posted Date : 16-Jul-2013 , 09:11:45 pm | Posted By: CASANSAAR
RBI/2013-14/141DPSS.CO.CHD.No./133 / 04.07.05 / 2013-14
July 16, 2013
The Chairman and Managing Director / Chief Executive OfficerAll Scheduled Commercial Banks including RRBs /Urban Co-operative Banks / State Co-operative Banks /District Central Co-operative Banks/Local Area Banks
Madam / Dear Sir
Standardization and Enhancement of Security Features in Cheque Forms/Migrating to CTS 2010 standards
Please refer to the instructions contained in ourcircular no. DPSS.CO.CHD.No. 1622/04.07.05/20...
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Marginal Standing Facility Rates
Posted Date : 16-Jul-2013 , 09:11:06 pm | Posted By: CASANSAAR
RBI/2013-2014/140FMD.MOAG. No.79 /01.01.001/2013-14
July 16, 2013
All Scheduled Commercial Banks (excluding RRBs) and Primary Dealers
Dear Sir,
Marginal Standing Facility Rates
As you are aware, Reserve Bank of India announced various measures yesterday to address the exchange rate volatility. As a part of the measures, it has been decided to recalibrate the Marginal Standing Facility (MSF) rate at 300 basis points above the policy Repo rate under the Liquidity Adjustment Facility (LAF) wit...
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For promotional activities, RBI asks banks to engage only those telemarketers who are registered with TRAI
Posted Date : 15-Jul-2013 , 08:11:03 pm | Posted By: Vinay Sharma
UNSOLICITED COMMERCIAL COMMUNICATIONS - NATIONAL CUSTOMER PREFERENCE REGISTER (NCPR)
CIRCULAR DBOD.NO.FSD.BC.30/24.01.001/2013-14,DATED 15-7-2013
Please refer to ourcircular Nos. DBOD.FSD.BC.49/24.01.011/2005-06 dated November 21, 2005,DBOD.FSD.BC.19/24.01.011/2007-08 dated July 3, 2007,DBOD.FSD.BC.35/24.01.011/2007-08 dated October 19, 2007andDBOD. No. FSD. BC.45/24.01.011/2008-09 dated September 17, 2008on the above subject in terms of which banks were advised to employ only those DMAs/DSAs/...
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CBDT fixes deadline for adjustment of refunds against past arrears where Sec. 245 procedure wasn\'t followed
Posted Date : 15-Jul-2013 , 08:10:41 pm | Posted By: Vinay Sharma
SECTION 245 OF THE INCOME-TAX ACT, 1961 - REFUNDS - SET OFF OF REFUNDS AGAINST TAX REMAINING PAYABLE - PAST ADJUSTMENT OF REFUNDS AGAINST ARREARS WHERE PROCEDURE UNDER SECTION 245 WAS NOT FOLLOWED
INSTRUCTION NO. 6/2013 [F. NO. 312/53/2013-OT],DATED 10-7-2013
Hon'ble Delhi High Courtvideits judgment in case ofCourt on its Own Motionv.UOIand Others in W.P.(C) 2659/2012, dated 14.03.2013 [2013] 31 taxmann.com 31 (Delhi) has issued seven Mandamus for necessary action by the Income Tax Department...
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IRDA permits participation of insurers in Securities Lending and Borrowing Scheme
Posted Date : 15-Jul-2013 , 08:10:21 pm | Posted By: Vinay Sharma
LENDING SECURITIES THROUGH SECURITIES LENDING AND BORROWING (SLB) FRAMEWORK
CIRCULAR NO. IRDA/F&I/INV/CIR/ 134/2013,DATED 12-7-2013
The Authority sought public commentsvideexposure draft dated 3rd August, 2012 to permit Insurers lending through Securities Lending and Borrowing (SLB) scheme. Comments received from the various stake holders including Life Insurers, General Insurers and other entities along with suggestions and the controls needed. After examination of the comments received, ...
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External Commercial Borrowings (ECB) Policy Repayment of Rupee loans and/or fresh Rupee capital expenditure
Posted Date : 15-Jul-2013 , 08:04:28 pm | Posted By: Vinay Sharma
RBI/2013-14/137A.P. (DIR Series) Circular No.12
July 15, 2013
To
All Category - I Authorised Dealer Banks
Madam / Sir,
External Commercial Borrowings (ECB) PolicyRepayment of Rupee loans and/or fresh Rupeecapital expenditure – USD 10 billion Scheme
Attention of Authorized Dealer Category - I (AD Category - I) banks is invited toA.P. (DIR Series) Circular No. 134 dated June 25, 2012,A.P. (DIR Series) Circular No. 26 dated September 11, 2012andA.P.(DIR) Circular No.78 dated January 21,...
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Unsolicited Commercial Communications
Posted Date : 15-Jul-2013 , 06:27:44 pm | Posted By: Vinay Sharma
RBI/2013-14/136DBOD.No.FSD.BC.30/24.01.001/2013-14
July 15, 2013
All Scheduled Commercial Banks(excluding RRBs)
Dear Sir/ Madam,
Unsolicited Commercial Communications – National Customer Preference Register (NCPR)
Please refer to ourcircular Nos. DBOD.FSD.BC.49/24.01.011/2005-06 dated November 21, 2005,DBOD.FSD.BC.19/24.01.011/2007-08 dated July 3, 2007,DBOD.FSD.BC.35/24.01.011/2007-08 dated October 19, 2007andDBOD.No.FSD. BC.45/24.01.011/2008-09 dated September 17, 2008on the above s...
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Clarification regarding applicability of the Pneumatic Tyres and Tubes for Automotive Vehicles (Quality Control) Order 2009 for used tyres
Posted Date : 13-Jul-2013 , 10:32:43 pm | Posted By: Vinay Sharma
INSTRUCTION
F. No. 528/109/2011-STO (TU)
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise and Customs
Tariff Unit
229A, North Block, New Delhi,
12th July, 2013
To
All Chief Commissioners of Customs/Customs (Prev.),
All Commissioners of Customs/Customs (Prev.),
All Chief Commissioners Customs & Central Excise,
All Commissioners of Customs & Central Excise,
All Directors General under CBEC.
Sir / Madam,
Subject: Clarification regarding a...
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Allahabad Bank authorized for payment of VAT
Posted Date : 12-Jul-2013 , 10:39:37 pm | Posted By: Vinay Sharma
...
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All the TAN holders responsible for deduction of TDS under section 36A of the Delhi Value Added Tax Act, 2004 (hereinafter referred to as \'the Act\'), shall issue TDS certificate electronically in Form DVAT-43 duly generated from the departmental website
Posted Date : 12-Jul-2013 , 10:38:26 pm | Posted By: Vinay Sharma
All the TAN holders responsible for deduction of TDS under section 36A of the Delhi Value Added Tax Act, 2004 (hereinafter referred to as 'the Act'), shall issue TDS certificate electronically in Form DVAT-43 duly generated from the departmental website, to the contractor(s). A unique ID will be generated on such certificates. The contractor(s) shall mention unique ID Number(s) in his return Form DVAT-16/DVAT-17 for claiming credit under section 36A(6) of the Act. All TAN holders shall file th...
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Dealers who have elected to pay tax under section 16 of the Act, that the retail invoice issued under sub section (4) of Section 50 of the Act, besides containing the particulars as specified in sub section (5) of Section 50 of the Act, henceforth shall a
Posted Date : 12-Jul-2013 , 10:37:53 pm | Posted By: Vinay Sharma
Dealers who have elected to pay tax under section 16 of the Act, that the retail invoice issued under sub section (4) of Section 50 of the Act, besides containing the particulars as specified in sub section (5) of Section 50 of the Act, henceforth shall also contain the following words at the top of the invoice:"Composition Dealer"(Not eligible to charge VAT on Bill)...
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Seeks to notify Tiruchirappalli Airport for courier import and export operations
Posted Date : 12-Jul-2013 , 10:15:30 pm | Posted By: Vinay Sharma
[To be published in the Gazette of India, Extraordinary, Part II,
Section 3, Sub-section (ii)]
Government of India
Ministry of Finance
(Department of Revenue)
Notification No.74/2013-Customs (N.T.)
New Delhi, dated the 12thJuly, 2013
G.S.R.----- (E). -In exercise of the powers conferred bysection 157of theCustoms Act, 1962 (52 of 1962),the Central Board of Excise and Customs hereby makes the following regulations further to amend theCourier Imports and Exports (Clearance) Regulations, 199...
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Know Your Customer Norms/Anti-Money Laundering Standards/Combating of Financing of Terrorism/Obligations under PMLA, 2002
Posted Date : 12-Jul-2013 , 10:15:03 pm | Posted By: Vinay Sharma
RBI/2013-14/135DBOD.AML.BC.No.29 /14.01.001/2013-14
July 12, 2013
The Chairmen / CEOs of all Scheduled Commercial Banks(Excluding RRBs)/Local Area Banks / All India Financial Institutions
Dear Sir,
Know Your Customer (KYC) Norms/Anti-Money Laundering (AML) Standards/Combating of Financing of Terrorism (CFT)/Obligations under Prevention of Money Laundering Act (PMLA), 2002
We invite a reference to paragraph 89 (extracts enclosed) of the Monetary Policy Statement 2013-14 announced on May 3, 2...
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Process of online registration.
Posted Date : 12-Jul-2013 , 12:54:23 pm | Posted By: Vikky Kumar Jha
GOVERNMENT OF NCT OF DELHI
DEPARTMENT OF TRADE & TAXES
VYAPAR BHAWAN, NEW DELHI
No.F.3(361)/Policy/VAT/2013/403-409
Dated:10.7.2013
CIRCULAR NO.05 OF 2013-14.
Subject: Process of online registration.
The Department hadintroduced the facility of online registration under DVAT/CST Act with
effect from 01/04/2013. The process involves pre-verification from VATI by visiting the business
premises and obtaining signed copy of registration app...
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Amends Notification No. 92/2012-Customs (N.T.), dated the 4th October, 2012
Posted Date : 11-Jul-2013 , 08:28:48 pm | Posted By: Vinay Sharma
[TO BE PUBLISHED IN PART II, SECTION 3, SUB -SECTION (i) OF
THE GAZETTE OF INDIA, EXTRAORDINARY,]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
Notification No. 71/2013-CUSTOMS (N.T.)
New Delhi, the 10thJuly, 2013
G.S.R. 472 (E). –In exercise of the powers conferred bysub-section (2) of section 75of theCustoms Act, 1962 (52 of 1962),sub-section (2) of section 37of theCentral Excise Act, 1944 (1 of 1944), andsection 93Aandsub-section (2) of section 94of theFinance A...
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External Commercial Borrowings (ECB) Policy
Posted Date : 11-Jul-2013 , 08:27:51 pm | Posted By: Vinay Sharma
RBI/2013-14/134A.P.(DIR Series) Circular No.11
July 11, 2013
To
All Category - I Authorised Dealer Banks
Madam / Sir,
External Commercial Borrowings (ECB) Policy – Review of all-in-cost ceiling
Attention of Authorized Dealer Category-I (AD Category-I) banks is invited toA.P. (DIR Series) Circular No. 99 dated March 30, 2012andA.P. (DIR Series) Circular No. 60 dated December 14, 2012relating to ECB.
2. On a review, it has been decided that the all-in-cost ceiling as specified in A.P....
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Overseas Investments
Posted Date : 11-Jul-2013 , 08:27:32 pm | Posted By: Vinay Sharma
RBI/2013-14/131A.P. (DIR Series) Circular No.8
July 11, 2013
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Overseas Investments – Shares of SWIFT
Attention of the Authorised Dealers (AD) is invited to Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2004 notified by the Reserve Bank videNotification No. FEMA 120/RB-2004 dated July 07, 2004and as amended from time to time.
2. As per the extant FEMA provisions, the proposal of acquisition...
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External Commercial Borrowings (ECB) Policy
Posted Date : 11-Jul-2013 , 08:27:13 pm | Posted By: Vinay Sharma
RBI/2013-14/133A.P. (DIR Series) Circular No.10
July 11, 2013
To
All Category - I Authorised Dealer Banks
Madam / Sir,
External Commercial Borrowings (ECB) Policy –Refinancing / Rescheduling of ECB
Attention of Authorized Dealer Category-I (AD Category-I) banks is invited toA.P. (DIR Series) Circular No. 112 dated April 20, 2012relating to ECB.
2. On a review, it has been decided that the instructions contained in the above mentioned circular will continue to be applicable till Sept...
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RBI |
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Trade Credits for Imports into India
Posted Date : 11-Jul-2013 , 08:26:53 pm | Posted By: Vinay Sharma
RBI/2013-14/132A.P. (DIR Series) Circular No.9
July 11, 2013
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Trade Credits for Imports into India – Review of all-in-cost ceiling
Attention of Category-I Authorized Dealer banks is invited to theA.P. (DIR Series) Circular No. 98 dated April 09, 2013relating to all-in-cost ceiling of Trade Credits for imports into India.
2. On a review it has been decided that the all-in-cost ceiling as specified under paragraph 4 ofA.P. (DIR S...
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RBI |
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Assignment of Lead Bank Responsibility in districts of Metropolitan Areas
Posted Date : 11-Jul-2013 , 08:26:34 pm | Posted By: Vinay Sharma
RBI/2013-14/130 RPCD.CO.LBS.BC.No.12/02.08.001/2013-14
July 11, 2013
The Chairmen & Managing Directors
All Lead Banks
Dear Sir/Madam,
Assignment of Lead Bank Responsibility in districts of Metropolitan Areas
Please refer toparagraph 70of Monetary Policy Statement 2013-14, in terms of which it was decided to bring all districts in metropolitan areas under the fold of the lead bank scheme.
2. Accordingly, it has been decided to assign the lead bank responsibility in districts of Metropo...
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Central Govt. announces Rules for regulating the refund of court fee in Debts Recovery Tribunal
Posted Date : 11-Jul-2013 , 08:25:40 pm | Posted By: Vinay Sharma
DEBTS RECOVERY TRIBUNAL (REFUND OF COURT FEE) RULES, 2013
NOTIFICATION NO. GSR 311(E)[F.NO.3/2/2013-DRT],DATED 15-5-2013
In exercise of the powers conferred by clause (cc) of sub-section (2) of Section 36 read with sub-section (3A) of section 19 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (51 of 1993), the Central Government hereby makes the following rules regulating the refund of court fee in the Debts Recovery Tribunals (hereinafter called the Tribunal) namely...
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Corporate Laws |
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SARFAESI Central Registry Rules to include transactions which subsisted before setting-up of Central Registry
Posted Date : 11-Jul-2013 , 08:25:18 pm | Posted By: Vinay Sharma
SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST (CENTRAL REGISTRY) (AMENDMENT) RULES, 2013 - AMENDMENT IN RULES 2, 5 AND 7
NOTIFICATION NO. GSR 310(E) [F.NO.1/1/2013-RECOVERY],DATED 15-5-2013
In exercise of the powers conferred by sub-section (1) and clauses (c) to (g) of sub-section (2) of section 38 read with section 20 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002), the Centr...
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Process of online registration under DVAT
Posted Date : 11-Jul-2013 , 06:26:13 pm | Posted By: Vinay Sharma
...
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Notification relating to DVAT Rules (Second amendment)
Posted Date : 11-Jul-2013 , 06:25:18 pm | Posted By: Vinay Sharma
(TO BE PUBLISHED IN PART IV OF THE DELHI GAZETTE EXTRAORDINARY)
GOVERNMENT OFNATIONAL CAPITAL TERRITORY OF DELHIFINANCE (REVENUE-I)DEPARTMENTDELHI SACHIVALAYA, I. P. ESTATE: NEW DELHI-110002
No.F.3(4)/Fin.(Rev-I)/20 13- 14/DS-VI/5 19 Dated the 09.07.2013
NOTIFICATION
No.F.3(4)/Fin.(Rev-I)/201 3-14 .– Inexerciseof the powers conferred by section 102 of the DelhiValue Added TaxAct, 2004 (Delhi Act 3 of 2005), the Lt. Governor of the National Capital Territory of Delhi, hereby, makes the ...
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VAT |
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DVAT - Regarding file audit report in Form AR-1
Posted Date : 10-Jul-2013 , 08:32:49 pm | Posted By: Vinay Sharma
DEPARTMENT OF TRADE AND TAXES(VAT AUDIT BRANCH)12TH FLOOR, VYAPAR BHAWAN, IP ESTATE, NEW DELHI
No.VAT AUDIT/HQ/2013-14/.2601-2608 , Dated: 09.07.2013CIRCULAR
This is in continuation of circular No.VAT Audit/HQ/2013-14/2406-2413 dated 02-07-2013 vide which it was clarified that the audit of business affairs of the dealers having GTO more than Rs.10 Crore for the year 2012-13 may be conducted after 15-11-2013 i.e. after submission of audit report for the year 2012-13 in Form AR-1. Now in ...
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