Reporting Platform for OTC Derivatives – Transactions undertaken by IFSC Banking Units (IBUs) and non-deliverable derivative contracts
Posted Date : 19-May-2020 , 09:19:49 am | Posted By: CASANSAAR
RBI/2019-20/233
FMRD.FMID.26/02.05.002/2019-20
May 18, 2020
All Authorised Dealer Category-I Banks
Madam/Sir,
Reporting Platform for OTC Derivatives – Transactions undertaken by IFSC Banking Units (IBUs) and non-deliverable derivative contracts (involving Rupee or otherwise)
In terms ofA.P. (DIR Series) circular no.23 dated March 27, 2020, banks in India having an Authorised Dealer Category-1 license under FEMA, 1999, and operating IBUs have been permitted, with effect from...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1045
|
 |
Risk Management and Inter-bank Dealings – Hedging of Foreign Exchange Risk-Date of Implementation
Posted Date : 19-May-2020 , 09:18:56 am | Posted By: CASANSAAR
RBI/2019-20/232
A.P.(DIR Series) Circular No.31
May 18, 2020
To
Authorised Dealers Category – I
Madam/Sir,
Risk Management and Inter-bank Dealings – Hedging of Foreign Exchange Risk-Date of Implementation
A reference is invited to the Directions on Hedging of Foreign Exchange Risk issued videA.P. (DIR Series) Circular No. 29 dated April 7, 2020. The Directions were to come into effect from June 1, 2020.
2. Based on the requests received from market participants ...
Continue Reading...
Category :
FEMA |
Comments :
0 | Hits : 1165
|
|
Extension of Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit
Posted Date : 14-May-2020 , 09:53:45 am | Posted By: CASANSAAR
RBI/2019-20/231
DOR.Dir.BC.No.69/04.02.001/2019-20
May 13, 2020
All Scheduled Commercial Banks (excluding RRBs)
Small Finance Banks, Primary (Urban) Cooperative Banks
and EXIM Bank
Dear Sir / Madam,
Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit-Extension
Please refer to the operational instructions for the captioned Scheme contained in RBI circular on Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit issued videDBR.Dir.BC.No.6...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1152
|
|
Clarification in respect of residency under section 6 of the Income-tax Act,1961 - CBDT
Posted Date : 09-May-2020 , 10:05:49 am | Posted By: CASANSAAR
Clarification in respect of residency under section 6 of the Income-tax Act,1961 - CBDT Circular No. 11 of 2020 dated 08/05/2020...
Continue Reading...
Category :
CBDT |
Comments :
0 | Hits : 1550
|
|
Revised GSTR-3B Due dates for for UT of J&K, Ladakh notified
Posted Date : 07-May-2020 , 08:25:26 am | Posted By: CASANSAAR
G.S.R.....(E).–In exercise of the powers conferred by section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) read with sub-rule (5) of rule 61 of the Central Goods and Services Tax Rules, 2017, the Commissioner, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.44/2019 – Central Tax, dated the 9th October, 2019, published in the Ga...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1330
|
|
GST annual return filing date for FY 2018-19 extended till 30th September 2020
Posted Date : 07-May-2020 , 08:24:17 am | Posted By: CASANSAAR
G.S.R.....(E).– In exercise of the powers conferred by sub-section (1) of section 44 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act), read with rule 80 of the Central Goods and Services Tax Rules, 2017 (hereafter in this notification referred to as the said rules), and in supersession of notification No. 15/2020-Central Tax, dated the 23rd March, 2020, published in the Gazette of India, Extraordinary, Part II, Sectio...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1385
|
|
CBIC extends validity of e-way bills till 31st May 2020
Posted Date : 07-May-2020 , 08:22:35 am | Posted By: CASANSAAR
G.S.R.....(E).– In exercise of the powers conferred by section 168A of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act), read with section 20 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), and section 21 of Union Territory Goods and Services Tax Act, 2017 (14 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following amendment in the notification of the Governmen...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1177
|
|
GST new registration post appointment of IRP/RP by 30.06.2020
Posted Date : 07-May-2020 , 08:21:28 am | Posted By: CASANSAAR
G.S.R.....(E).– In exercise of the powers conferred by section 148 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Government, on the recommendations of the Council, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.11/2020- Central Tax, dated the 21st March, 2020, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 194(E), dated ...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1145
|
|
GSTR 3B Nil Return can be by SMS - Companies can file through EVC
Posted Date : 07-May-2020 , 08:20:11 am | Posted By: CASANSAAR
G.S.R…(E). - In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following rules further to amend the Central Goods and Services Tax Rules, 2017, namely: -...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1146
|
|
Submission of regulatory returns - Extension of timelines by RBI
Posted Date : 01-May-2020 , 10:28:01 am | Posted By: CASANSAAR
RBI/2019-20/228
DOR.BP.BC.No.68/21.04.018/2019-20
April 29, 2020
All Scheduled Commercial Banks
(including RRBs and Small Finance Banks),
Payments Banks and Local Area Banks,
All India Financial Institutions,
All Co-operative Banks,
Madam / Dear Sir,
Submission of regulatory returns - Extension of timelines
In order to mitigate the difficulties in timely submission of v...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1440
|
|
Extension of the last date of filing of Form NFRA-2
Posted Date : 01-May-2020 , 10:25:03 am | Posted By: CASANSAAR
Time limit for filing for Form NFRA 2, for the reporting period Financial Year 2018-19 will be 210 days from the date of reporting financial year 2018-19 will be 210 days from the date of deloyment of this form on the website of NFRA....
Continue Reading...
Category :
Corporate Laws |
Comments :
0 | Hits : 1256
|
|
CBIC notifies effective date for Rule 87(13) and Form GST PMT09
Posted Date : 01-May-2020 , 10:20:19 am | Posted By: CASANSAAR
G.S.R. 266(E).In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017) read with clause (c) of rule 9 and rule 25 of the Central Goods and Services Tax (Fourth Amendment) Rules, 2019 (hereinafter referred to as the rules), made vide notification No. 31/2019–Central Tax, dated the 28th June, 2019, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 457(E), dated the 28th June, 2019, t...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1286
|
|
Further clarification on provisions of the Direct Tax Vivad se Vishwas Act, 2020
Posted Date : 28-Apr-2020 , 09:05:33 am | Posted By: CASANSAAR
Corrigendum to Circular No. 9/2020 regarding Further clarification on provisions of the Direct Tax Vivad se Vishwas Act, 2020...
Continue Reading...
Category :
CBDT |
Comments :
0 | Hits : 1525
|
|
GST & GAAR Reporting in Tax Audit Report deffer by one more year - CBDT
Posted Date : 28-Apr-2020 , 09:00:36 am | Posted By: CASANSAAR
Income Tax Circular No. 10/2020-Income -Regarding reporting requirement under clause 30C and clause 44 of the Form 3CD defers GST & GAAR Reporting in amended Income Tax Audit Report amidst Covid-19....
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1501
|
|
RBI Announces Rs. 50,000 Cr Special Liquidity Facility for Mutual Funds (SLF-MF)
Posted Date : 27-Apr-2020 , 10:42:23 am | Posted By: CASANSAAR
Heightened volatility in capital markets in reaction to COVID-19 has imposed liquidity strains on mutual funds (MFs), which have intensified in the wake of redemption pressures related to closure of some debt MFs and potential contagious effects therefrom. The stress is, however, confined to the high-risk debt MF segment at this stage; the larger industry remains liquid.
2. The RBI has stated that it remains vigilant and will take whatever steps are necessary to mitigate the economic impact o...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1649
|
|
Contribution to the Rural Infrastructure Development Fund (RIDF) and other funds
Posted Date : 25-Apr-2020 , 09:41:40 am | Posted By: CASANSAAR
RBI/2019-20/226
DOR (PCB).BPD.Cir.No.12/09.09.002/2020-21
April 24, 2020
The Chief Executive Officer
All Primary (Urban) Co-operative Banks
Dear Sir / Madam,
Non-achievement of Priority Sector Lending Targets by Primary (Urban) Co-operative Banks (UCBs) - Contribution to the Rural Infrastructure Development Fund (RIDF) and other funds
Please refer to thecircular DCBR.BPD (PCB).Cir.No.07/09.09.002/2017-18 dated May 10, 2018on Revised Guidelines on Lending to Priority Sector for P...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1315
|
|
CARO, 2020 (Companies Audit Report Order)
Posted Date : 24-Apr-2020 , 03:13:37 pm | Posted By: Vedant Parikh
Introduction:
The Ministry of Corporate Affairs (MCA), after consultation with the National Financial Reporting Authority (NFRA) constituted under section 132 of the Companies Act, 2013, has published in the Gazette of India an Order in supersession of the Companies (Auditor's Report) Order, 2016, which may be called the Companies (Auditor's Report) Order, 2020 (hereinafter referred as “CARO, 2020”).
In this Article, we have tried to analyze the Reporting Requirements under CARO,...
Continue Reading...
Category :
Companies Act |
Comments :
0 | Hits : 1104
|
|
LLP Settlement Scheme, 2020
Posted Date : 24-Apr-2020 , 03:09:36 pm | Posted By: Vedant Parikh
Sr No
Particulars
Clarifications
1
Background of the Scheme
Any Defaulting LLP is permitted to file belated documents, which were due for filling till 31st August, 2020 in accordance with the provision of the scheme.
2
Tenure of the Scheme
1st April, 2020 to 30th September, 2020
3
Benefits extended under Scheme
1) One‐time waiver of additional filing fees for delayed f...
Continue Reading...
Category :
Companies Act |
Comments :
0 | Hits : 1097
|
|
Companies Fresh Start Scheme, 2020
Posted Date : 24-Apr-2020 , 03:08:13 pm | Posted By: Vedant Parikh
...
Continue Reading...
Category :
Companies Act |
Comments :
0 | Hits : 1139
|
|
Electronic Cards for Overdraft Accounts - RBI
Posted Date : 24-Apr-2020 , 10:27:04 am | Posted By: CASANSAAR
RBI/2019-20/225
DOR.FSD.BC.No.67/24.01.041/2019-20
April 23, 2020
All Scheduled Commercial Banks
Madam / Dear Sir,
Electronic Cards for Overdraft Accounts
Please refer to Para II.2 of‘Master Circular on Credit Card, Debit Card and Rupee Denominated Co-branded Pre-paid Card Operations of Banks and Credit Card issuing NBFCs’ dated July 1, 2015wherein banks have been permitted to issue debi...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 966
|
|
Clarifications on provisions of the Direct Tax Vivad se Vishwas Act, 2020
Posted Date : 23-Apr-2020 , 10:06:18 am | Posted By: CASANSAAR
During the Union Budget, 2020 presentation, the 'Vivad se Vishwas' Scheme was announced to provide for dispute resolution in respect of pending income tax litigation. Pursuant to Budget announcement, the Direct Tax Vivad se Vishwas Bill, 2020 (the Bill) was introduced in the Lok Sabha on 5th Feb, 2020. Subsequently, based on the representations received from the stakeholders regarding its various provisions, official amendments to the Bill were proposed. These amendments sought to widen ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1301
|
|
Interest Subvention (IS) and Prompt Repayment Incentive (PRI) for Short Term Crop Loans
Posted Date : 22-Apr-2020 , 10:01:25 am | Posted By: CASANSAAR
RBI/2019-20/224
FIDD.CO.FSD.BC.No.24/05.02.001/2019-20
April 21, 2020
The Chairman/Managing Director & CEOs
All Public & Private Sector Scheduled Commercial Banks
Madam/Dear Sir,
Interest Subvention (IS) and Prompt Repayment Incentive (PRI) for Short Term Crop Loans during the years 2018-19 and 2019-20: Extended Period on account of Covid-19
Please refer to ourcircular FIDD.CO.FSD.BC.No.15/05.02.001/2018-19 dated March 7, 2019regarding Interest Subvention Scheme for Shor...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1093
|
|
Extension of Quarterly TDS/TCS statement filing dates
Posted Date : 22-Apr-2020 , 09:58:14 am | Posted By: CASANSAAR
NSDL e- Governance Infrastructure Limited
TIN Operations
Circular
Circular No. NSDL/TIN/2020/006
April 20, 2020
Subject: Extension of Quarterly TDS/TCS statement filing dates
Attention of all TIN Faciliation Centre (TIN -FCs) is hereby invited to the notification issued by Government of India (The Gaztte of India) in view of COVID-19 outbreak copy of the notification is attached as Annexure.
Vide aforementioned notification, all the due dates, prescibed or notified under the...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1581
|
|
Provisioning on interbank exposure of Primary (Urban) Co-operative Banks (UCBs) under All Inclusive Directions
Posted Date : 21-Apr-2020 , 10:12:21 am | Posted By: CASANSAAR
RBI/2019-20/222
DOR.(PCB).BPD.Cir.No.11/16.20.000/2019-20
April 20, 2020
The Chief Executive Officer
All Primary (Urban) Co-operative Banks
Madam / Dear Sir,
Provisioning on interbank exposure of Primary (Urban) Co-operative Banks (UCBs) under All Inclusive Directions
As you are aware, the imposition of All-inclusive Directions (AID) on an Urban Co-operative Bank (UCB),inter alia, restricts t...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 976
|
|
Internal ML/TF risk assessment by REs - Amendment to Master Direction (MD) on KYC
Posted Date : 21-Apr-2020 , 10:11:39 am | Posted By: CASANSAAR
RBI/2019-20/221
DOR.AML.BC.No.66/14.01.001/2019-20
April 20, 2020
The Chairpersons/ CEOs of all the Regulated Entities
Dear Sir/Madam,
Internal ML/TF risk assessment by REs - Amendment to Master Direction (MD) on KYC
TheMaster Direction on KYC dated February 25, 2016, is hereby updated to reflect the following changes in line with Rule 9(13) of the PML Rules 2005:
A new section (5A...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 989
|
|
COVID19 Regulatory Package - Asset Classification and Provisioning
Posted Date : 18-Apr-2020 , 09:58:15 am | Posted By: CASANSAAR
RBI/2019-20/220
DOR.No.BP.BC.63/21.04.048/2019-20
April 17, 2020
All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks)
All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks
All All-India Financial Institutions
All Non-Banking Finance Companies (including Housing Finance Companies)
Madam/Dear Sir,
COVID19 Regulatory Package - Asset Classification and Provisioning
Please refer to theGovernor...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1071
|
|
Review of Resolution Timelines under the Prudential Framework on Resolution of Stressed Assets
Posted Date : 18-Apr-2020 , 09:57:33 am | Posted By: CASANSAAR
RBI/2019-20/219
DOR.No.BP.BC.62/21.04.048/2019-20
April 17, 2020
All Scheduled Commercial Banks (excluding Regional Rural Banks);
All India Financial Institutions (NABARD, NHB, EXIM Bank, and SIDBI);
All Systemically Important Non-Deposit taking Non-Banking Financial Companies (NBFC-ND-SI) and Deposit taking Non-Banking Financial Companies (NBFC-D).
Madam/Dear Sir,
COVID19 Regulatory Package – Review of Resolution Timelines under the Prudential Framework on Resolution of Str...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 999
|
|
Declaration of dividends by banks - RBI
Posted Date : 18-Apr-2020 , 09:56:34 am | Posted By: CASANSAAR
RBI/2019-20/218
DOR.BP.BC.No.64/21.02.067/2019-20
April 17, 2020
All Commercial Banks and All Cooperative Banks,
Madam / Dear Sir,
Declaration of dividends by banks
Banks in India have been granted general permission to declare dividends, subject to compliance with the guidelines laid out in terms ofcircular DBOD.NO.BP.BC.88/ 21.02.067/2004-05 dated May 4, 2005and other associated circulars.
2. In an environment of heightened uncertainty caused by COVID-19, it is important tha...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1064
|
|
Basel III Framework on Liquidity Standards – Liquidity Coverage Ratio (LCR)
Posted Date : 18-Apr-2020 , 09:55:47 am | Posted By: CASANSAAR
RBI/2019-20/217
DOR.BP.BC.No.65/21.04.098/2019-20
April 17, 2020
All Commercial Banks
(excluding Regional Rural Banks, Local Area Banks and Payments Banks)
Madam/Dear Sir,
Basel III Framework on Liquidity Standards – Liquidity Coverage Ratio (LCR)
Please refer to ourcircular DBOD.BP.BC.No.120/21.04.098/2013-14 dated June 9, 2014and associated circulars thereon.
2. As part of post Global Financial Crisis (GFC) reforms, Basel Committee on Banking Supervision (BCBS) had in...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 868
|
|
Prudential Norms on Income Recognition, Asset Classification and Provisioning Pertaining to Advances - Projects under Implementation
Posted Date : 18-Apr-2020 , 09:54:57 am | Posted By: CASANSAAR
RBI/2019-20/216
DoR.NBFC (PD).CC.No.110/03.10.001/2019-20
April 17, 2020
All Non-Banking Financial Companies
Madam/Dear Sir,
Prudential Norms on Income Recognition, Asset Classification and Provisioning Pertaining to Advances - Projects under Implementation
Please refer to paragraph 25 ofMaster Direction – Non-Banking Financial Company – Systemically Important Non-Deposit taking Company ...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 883
|
|
|
|
