Foreign Direct investment Policy
Posted Date : 05-Jun-2013 , 12:37:51 am | Posted By: Vinay Sharma
Government of India
Ministry of Commerce & Industry
Department of Industrial Policy & Promotion
Press Note No. 2(2013 Series)
Subject : Foreign Direct investment Policy – definition of ‘group company’
1.0 The Government has decided to incorporate the following definition of ‘group company’ in theFDI Policy contained in ‘Circular 1 of 2013– Consolidated FDI Policy’, effective from 05-04-2013:
2.1
Definitions
2.1.1...
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Corporate Laws |
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Know Your Customer (KYC)/Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) Guidelines - Unique Customer Identification Code (UCIC) for banks
Posted Date : 04-Jun-2013 , 08:14:56 pm | Posted By: Vinay Sharma
RBI/2012-13/521RPCD.RCB.RRB.AML.BC.No. 76/07.51.018/2012-13
June 04, 2013
The Chairmen / CEOs of all Regional Rural Banks /State and Central Co-operative Banks
Dear Sir,
Know Your Customer (KYC)/Anti-Money Laundering (AML)/Combatingof Financing of Terrorism (CFT) Guidelines - Unique CustomerIdentification Code (UCIC) for banks’ customers in India
Please refer to ourcircular
RPCD.CO.RRB.RCB.AML.BC.No.82/03.05.33(E)/2011-12 dated June 11, 2012,on the captioned subject, advising banks ...
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RBI |
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Interest Rates on Rupee Export Credit -UCBs
Posted Date : 04-Jun-2013 , 04:18:33 pm | Posted By: Vinay Sharma
RBI/2012-13/519UBD.BPD. (AD) Cir.No.4/13.05.000/2012-13
June 4 , 2013
The Chief Executive OfficerScheduled Primary (Urban) Co-operative Banks(holding AD Category I licence)
Dear Sir/Madam
Interest Rates on Rupee Export Credit -UCBs
Please refer to ourcircular UBD.BPD.(AD).Cir.No.2/13.05.000/2012-13 dated January 22, 2013on the captioned subject, extending the interest subvention of 2% up to March 31, 2014 on pre and post shipment rupee export credit to specified export sectors.
2. The Gove...
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RBI |
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Import of Gold by Nominated Banks /Agencies
Posted Date : 04-Jun-2013 , 04:16:07 pm | Posted By: Vinay Sharma
RBI/2012-13/520A.P. (DIR Series) Circular No.107 June 4, 2013ToAll Scheduled Commercial Banks which areAuthorised Dealers (ADs) in Foreign Exchange/ All agenciesnominated for import of goldMadam/Sir
Import of Gold by Nominated Banks /Agencies
Attention of Authorised Persons is drawn to ourA.P. (DIR Series) Circular No. 103 dated May 13, 2013on the captioned subject in terms of which, it was decided to restrict the import of gold on consignme...
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FEMA |
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Deposit of tax deducted under sec. 194-IA shall be accompanied by Form 26QB Challan; TDS certificate in Form 16B
Posted Date : 03-Jun-2013 , 09:28:41 pm | Posted By: Vinay Sharma
INCOME-TAX (FIFTH AMENDMENT) RULES, 2013 - AMENDMENT IN RULES 30, 31 & 31A AND INSERTION OF FORM NOS. 16B & 26QB AND SUBSTITUTION OF FORM N0. 24Q
NOTIFICATION NO. 39/2013 [F.NO.133/23/2013-SO(TPL)(Pt.)]/SO 1404(E),DATED 31-5-2013
In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 196]), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:—
1.(1) These rules may be called the Inc...
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Income Tax |
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Implementation of Section 51-A of UAPA, 1967
Posted Date : 03-Jun-2013 , 05:58:54 pm | Posted By: Vinay Sharma
RBI/2012-2013/518UBD.BPD (PCB) Cir. No. 52 /14.01.062/2012-13
May 31, 2013
The Chief Executive OfficerAll Primary (Urban) Co-operative Banks
Madam / Dear Sir,
Implementation of Section 51-A of UAPA, 1967 – Updates of the UNSCR 1267 (1999) /1989 (2011) Committee’s Al-Qaida Sanctions List and Consolidated List – Primary (Urban) Co-operative Banks
Please refer to ourcircular UBD. BPD. (PCB) Cir. No. 47/ 14.01.062/ 2012-13 dated April 4, 2013on the captioned subject. We have s...
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RBI |
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Clarification on admissibility of deemed export benefits under Para 8.2F of FTP.
Posted Date : 01-Jun-2013 , 06:29:52 pm | Posted By: Vinay Sharma
Government of India
Ministry of Commerce and Industry
Directorate General of Foreign Trade
Udyog Bhavan, New Delhi
Policy Circular No 1 (RE-2013/2009-14)
Dated: 29thMay, 2013
To
All Regional Authorities/DCs
A reference has been received from trade seeking certain clarifications on admissibility of deemed export benefits underpara 8.2(f)ofFTP. The issues have been considered for issuance of appropriate clarifications underpara 2.3ofFTP.
2. Chronological sequence is described as under:
(...
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DGFT |
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Banks to acknowledge receipt of nil TDS declaration from customers, RBI directs banks
Posted Date : 01-Jun-2013 , 06:27:44 pm | Posted By: Vinay Sharma
CIRCULAR DBOD.NO.LEG.BC.100/09.07.005/2012-13,DATED 31-5-2013
As you are aware banks are not required to deduct TDS from depositors who submit declaration in Form 15-G/15-H under Income Tax Rules, 1962. However, it has been brought to our notice that despite submission of Form 15-G/15-H by customers, banks are deducting tax at source, at times, causing inconvenience to customers resulting in a number of complaints. Such instances arise because either the forms are misplaced or a track is not ke...
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Income Tax |
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Amendmen in Paragraph 2.1.2 of the Foreign Trade Policy
Posted Date : 01-Jun-2013 , 06:26:25 pm | Posted By: Vinay Sharma
TO BE PUBLISHED IN THE GAZETTEE OF INDIA EXTRAORDINARY
PART – II, SECTION -3, SUB SECTION (ii)
GOVERNMENT OF INDIA
MINISTRY OF COMMERCE AND INDUSTRY
DEPARTMENT OF COMMERCE
NOTIFICATION No. 14 (RE-2013)/2009-2014.
New Delhi, Dated : 31 May, 2013
S.O. (E) -In exercise of powers conferred bySection 5read withSection 3(2)of theForeign Trade (Development & Regulation) Act, 1992 (No.22 of 1992)and also read withPara 1.3andPara 2.1of theForeign Trade Policy, 2009-2014, (as amended from...
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DGFT |
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NBFC-MFIs
Posted Date : 01-Jun-2013 , 06:24:11 pm | Posted By: Vinay Sharma
RBI/2012-13/517DNBS (PD) CC.No.327/03.10.038/2012-13 May 31, 2013All NBFCs
Dear Sir,‘Non Banking Financial Company-Micro Finance Institutions’ (NBFC-MFIs) – Directions – Modifications in Pricing of Credit - Margin capAttention is invited to para 6 ofDNBS.(PD)CC.No.300/03.10.38/2011-12 dated August 3, 2012modifying inter alia the pricing of credit as given inDNBS.CC.PD.No.250/03.10.01/2011-12 dated December 2, 2011. On a review, ...
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RBI |
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Amends Notification No. 36/2001-Customs (N.T.), dated the 3rd August, 2001
Posted Date : 01-Jun-2013 , 12:30:00 pm | Posted By: Vinay Sharma
[TO BE PUBLISHED IN PART-II, SECTION-3, SUB-SECTION (ii) OF THE GAZETTE OF INDIA, EXTRAORDINARY]
Government of India
Ministry of Finance
(Department of Revenue)
(Central Board of Excise and Customs)
Notification
No. 57/2013-CUSTOMS (N. T.)
New Delhi, the 31st of May, 2013
10 Jyaistha, 1935 (SAKA)
S. O. (E).– In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it ...
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Custom |
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An insurance broker to provide info on its capital structure and shareholding details to IRDA yearly
Posted Date : 31-May-2013 , 06:45:46 pm | Posted By: Vinay Sharma
IRDA (INSURANCE BROKERS)(SECOND AMENDMENT) REGULATIONS, 2013
NOTIFICATION NO. [F.NO. IRDA/REG/6/64/2013],DATED 7-2-2013
In exercise of the powers conferred by section 1I4A of the Insurance Act, 1938 (4 of 1938) read with sections 14 and 26 of the Insurance Regulatory and Development Authority Act, 1999 (4 of 1999), the Authority in consultation with the Insurance Advisory Committee, hereby makes the following regulations, namely; -
1. Short title and commencement
(1)
These regulatio...
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SEBI amends circular on \'comprehensive guidelines on sale of shares through offer for sale mechanism\'
Posted Date : 31-May-2013 , 06:28:44 pm | Posted By: Vinay Sharma
COMPREHENSIVE GUIDELINES ON OFFER FOR SALE (OFS) OF SHARES BY PROMOTERS THROUGH THE STOCK EXCHANGE MECHANISM
CIRCULAR NO. MRD/DP/17/2013,DATED 30-5-2013
1.This is with reference to the comprehensive guidelines on sale of shares through OFS mechanism issuedvidecircular no MRD/DP/18/2012, dated July 18, 2012and amendedvidecircular MRD/DP/04/2012, dated January 25, 2013.
2.The aforesaid circular is amended as under:
2.1Para 5 (b) shall be replaced by the following:
"Seller(s) shall announce t...
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KYC/AML/CFT Guidelines - Unique Customer Identification Code for banks
Posted Date : 31-May-2013 , 06:27:12 pm | Posted By: Vinay Sharma
RBI/2012-13/515DBOD. AML.BC. No. 101/14.01.001/2012-13
May 31, 2013
The Chairmen / CEOs of all Scheduled Commercial Banks(Excluding RRBs)/Local Area Banks / All India Financial Institutions
Dear Sir,
Know Your Customer (KYC)/Anti-Money Laundering (AML)/Combatingof Financing of Terrorism (CFT) Guidelines - Unique CustomerIdentification Code (UCIC) for banks’ customers in India
Please refer to ourcircular DBOD. AML.BC. No.109/14.01.001/2011-12 dated June 08, 2012, on the captioned subje...
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RBI |
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Acknowledgement by banks at the time of submission of Form 15-G / 15-H
Posted Date : 31-May-2013 , 06:26:47 pm | Posted By: Vinay Sharma
RBI/2012-13/516DBOD.No.Leg.BC.100/09.07.005/2012-13
May 31, 2013
All Scheduled Commercial Banks(excluding RRBs)
Dear Sir/Madam,
Acknowledgement by banks at the time of submission of Form 15-G / 15-H
As you are aware banks are not required to deduct TDS from depositors who submit declaration in Form 15-G/15-H under Income Tax Rules, 1962. However, it has been brought to our notice that despite submission of Form 15-G/15-H by customers, banks are deducting tax at source, at times, causing inc...
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RBI |
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SEBI modifies Securities Lending and Borrowing framework
Posted Date : 31-May-2013 , 04:31:51 pm | Posted By: Vinay Sharma
REVIEW OF THE SECURITIES LENDING AND BORROWING (SLB) FRAMEWORK
CIRCULAR NO. MRD/DP/18/2013,DATED 30-5-2013
The framework of SLB was specifiedvideSEBIcircular no. MRD/DoP/SE/Dep/Cir-14/2007, dated December 20, 2007and operationalised with effect from April 21, 2008. The SLB framework was subsequently revised based on the need and representations from market participantsvidecirculars no. MRD/DoP/SE/Cir-31/2008, dated October 31, 2008,MRD/DoP/SE/Dep/Cir-01/2010,
dated January 06, 2010,MRD/DP/33...
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SEBI |
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CBDT announces Rules for notification of agricultural extension projects under sec. 35CCC
Posted Date : 31-May-2013 , 04:30:13 pm | Posted By: Vinay Sharma
INCOME-TAX (FOURTH AMENDMENT) RULES, 2013 - INSERTION OF RULES 6AAD & 6AAE AND FORM NOS.3C-O & 3CP
NOTIFICATION NO. 38/2013[F.NO.142/30/2012-SO(TPL)]/SO 1393(E),DATED 30-5-2013
In exercise of the powers conferred by section 295 read with sub-section (1) of section 35CCC of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-
1.(1) These rules may be called the Income-tax (Fourth ...
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Income Tax |
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Clarification regarding submission of Form DP-1.
Posted Date : 31-May-2013 , 07:44:20 am | Posted By: CASANSAAR
CIRCULAR No. 04 OF 2013-14
Clarification and confirmations are being sought from different quarters regarding theNotification No.F.3(352)/Policy/VAT/2013/231-241 dated 28.05.2013
The purpose of taking the information in Form DVAT-07 and Form DVAT-52 is toupdate the dealers’ data with the department. To maintain up to date and accurate data of thedealers in the department records, Registration Certificates of the dealers are required to beamended. The amendment process is to be initiated ...
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VAT |
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Review of Prudential Guidelines on Restructuring of Advances by Banks and Financial Institutions
Posted Date : 31-May-2013 , 07:38:18 am | Posted By: CASANSAAR
RBI/2012-13/514DBOD.BP.BC.No. 99/21.04.132/2012-13
May 30, 2013
All Scheduled Commercial Banks(excluding RRBs)
Dear Sir,
Review of Prudential Guidelines on Restructuring of Advances by Banks and Financial Institutions
As indicated in paragraph 81 (extract enclosed) of the Monetary Policy Statement 2013-14 announced on May 3, 2013, ‘Prudential guidelines on restructuring of advances by banks / financial institutions’ have been revised taking into account the recommendations of th...
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RBI |
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Power of ROCs to obtain declaration/ affidavits from subscribers/first directors at the time of incorporation
Posted Date : 30-May-2013 , 07:24:32 am | Posted By: CASANSAAR
General Circular No. 11/2013, dated 29-05-2013,Power of ROCs to obtain declaration/ affidavits from subscribers/first directors at the time of incorporation....
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Corporate Laws |
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All the dealers registered under the DVAT Act, as on 31-03-2013, shall furnish the information online on or before 30.06.2013, using their login ID and password.
Posted Date : 29-May-2013 , 11:50:31 pm | Posted By: CASANSAAR
All the dealers registered under the DVAT Act, as on 31-03-2013, shall furnish the information online on or before 30.06.2013, using their login ID and password. For this purpose, Form DP-1 annexed with this Notification shall be used. This Notification shall come into force with immediate effect.
GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHIDEPARTMENT OF TRADE AND TAXESVYAPAR BHAWAN, I.P. ESTATE, NEW DELHI-110 002No.F. 3(352)/Policy/VAT/2013/231-241Date : 28.05.2013NOTIFICATION
Wherea...
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VAT |
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DGFT- Online application & issue of Registration Certificates for export of various commodities wef 1st July, 2013
Posted Date : 29-May-2013 , 08:50:01 am | Posted By: CASANSAAR
Government of India
Ministry of Commerce & Industry
Department of Commerce
Directorate General of Foreign Trade
UdyogBhawan, New Delhi
Trade Notice No. 3/2013 Dated 28thMay, 2013
Subject:Online applicationand issue ofRegistrationCertificates forexport of various commodities with effect from 1stJuly, 2013.
DGFT is happy to announce migration of the process of obtainingRegistrationCertificate(for export purpose only) from the existing manual mode to digital mode. With effect from 1s...
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DGFT |
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Guidelines on Composition of Capital Disclosure Requirements
Posted Date : 29-May-2013 , 07:12:01 am | Posted By: CASANSAAR
RBI/2012-13/512DBOD.No.BP.BC.98/21.06.201/2012-13
May 28, 2013
The Chairman and Managing Directors/Chief Executives Officers ofAll Scheduled Commercial Banks(Excluding Local Area Banks and Regional Rural Banks)
Madam / Sir,
Guidelines on Composition of Capital Disclosure Requirements
Please refer to the paragraph 77 (extract enclosed) of the Monetary Policy Statement for 2013-14 announced on May 3, 2013. It was indicated therein that the final guidelines on composition of capital disclosure...
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RBI |
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Branch Authorisation Policy- Front Loading of branches in unbanked rural centres
Posted Date : 29-May-2013 , 07:10:57 am | Posted By: CASANSAAR
RBI/2012-13/511DBOD.NO.BAPD.BC. 97/22.01.001/2012-13
May 28, 2013Jyeshtha 7, 1934 (Saka)
All Domestic Scheduled Commercial Banks(excluding RRBs)
Madam/Dear Sir,
Branch Authorisation Policy- Front Loading of branches in unbanked rural centres
Please refer to paragraph 96 of Monetary Policy Statement 2013-14 (extract enclosed) on the above subject. As stated therein, branch expansion in rural areas is essential to address the existing asymmetries in achieving financial inclusion.
2. With the...
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RBI |
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Regarding Customs permission for transhipment of goods/containers from a Gateway Port to a Container Freight Station (CFS) of another Customs Station
Posted Date : 27-May-2013 , 08:43:27 pm | Posted By: CASANSAAR
Circular No. 22/2013 - Customs
F. No. 450 /120/2012-Cus-IV.
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise & Customs
*****
New Delhi, Dated 24th May, 2013
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.
Sir / Madam,
Subject: - Customs perm...
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Custom |
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Notification regarding Challan Form P-VAT-2A
Posted Date : 27-May-2013 , 08:36:41 pm | Posted By: CASANSAAR
NOTIFICATIONThe 24th May, 2013No.G.S.R. 33/PA.8/2005/S.70/2013 .- In exercise of the powers conferred by subsection (1) of section 70 of the Punjab Value Added Tax Act, 2005 (Punjab Act No.8 of 2005),and all other 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 :-...
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VAT |
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NBFCs finance for Purchase of Gold
Posted Date : 27-May-2013 , 08:34:54 pm | Posted By: CASANSAAR
RBI/2012-13/510DNBS.CC.PD.No.326/03.10.01/2012-13
May 27, 2013
ToAll NBFCs
Dear Sir,
NBFCs finance for Purchase of Gold
In terms of extant guidelines issued vide circular DNBS.CC.PD.No.265/03.10.001/2012-13 dated March 21, 2013 no advances should be granted by NBFCs against bullion / primary gold and gold coins.
2.It is clarified that no advances should be granted by NBFCs for purchase of gold in any form, including primary gold, gold bullion, gold jewellery, gold coins, units of gold Exch...
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RBI |
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Lending against Gold
Posted Date : 27-May-2013 , 08:34:05 pm | Posted By: CASANSAAR
RBI/2012-13/509DBOD. No. Dir. BC. 96/13.03.00/2012-13
May 27, 2013
All Scheduled Commercial Banks(excluding RRBs)
Dear Sir/Madam
Lending against Gold
Please refer to paragraph 98 of the Monetary Policy Statement 2013-14 announced on May 3, 2013 (extract enclosed) on lending against gold, proposing to restrict the facility of advances against the security of gold coins per customer to gold coins weighing up to 50 gms.
2. As per extant instructions contained in our circular DBOD.Leg.BC.95/ C...
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RBI |
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Prudential Guidelines on Capital Adequacy and Market Discipline - New Capital Adequacy Framework (NCAF) - Parallel Run and Prudential Floor
Posted Date : 27-May-2013 , 08:33:05 pm | Posted By: CASANSAAR
RBI/2012-13/508DBOD.BP.BC. No.95/21.06.001/2012-13
May 27, 2013
The Chairman and Managing Director/Chief Executive Officer ofAll Scheduled Commercial Banks(excluding LABs and RRBs)
Dear Sir
Prudential Guidelines on Capital Adequacy and Market Discipline -New Capital Adequacy Framework (NCAF) - Parallel Run and Prudential Floor
Please refer to ourcircular DBOD.BP.BC.No.71/21.06.001/2010-11 dated December 31, 2010on the above subject, in terms of which banks were advised to continue with the ...
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RBI |
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Seeks to allow duty free sale of goods manufactured in India to the International passengers or members of crew at the DFSs located at the arrival / departure hall of International Airports and specify the procedures relating thereto.
Posted Date : 24-May-2013 , 08:13:39 pm | Posted By: CASANSAAR
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
New Delhi, dated the 23rdMay, 2013
NotificationNo.19 /2013-Central Excise
G.S.R.(E). – In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944(1 of 1944), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the goods falling under the First Schedule to the Central Excise Tariff Act, 1985 (5 of 1986) (hereinafter r...
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Excise |
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