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...
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GST |
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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 ...
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GST |
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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: -...
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GST |
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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...
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RBI |
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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....
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Corporate Laws |
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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...
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GST |
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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...
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CBDT |
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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....
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GST |
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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...
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RBI |
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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...
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RBI |
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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,...
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Companies Act |
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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...
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Companies Act |
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Companies Fresh Start Scheme, 2020
Posted Date : 24-Apr-2020 , 03:08:13 pm | Posted By: Vedant Parikh
...
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Companies Act |
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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...
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RBI |
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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 ...
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Income Tax |
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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...
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RBI |
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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...
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Income Tax |
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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...
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RBI |
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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...
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RBI |
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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...
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RBI |
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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...
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RBI |
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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...
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RBI |
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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...
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RBI |
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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 ...
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RBI |
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Liquidity Adjustment Facility – Reverse Repo Rate
Posted Date : 18-Apr-2020 , 09:54:04 am | Posted By: CASANSAAR
RBI/2019-2020/215
FMOD.MAOG.No.141/01.01.001/2019-20
April 17, 2020
All Liquidity Adjustment Facility (LAF) participants
Madam/Sir,
Liquidity Adjustment Facility – Reverse Repo Rate
As announced inGovernor’s Statementtoday, it has been decided to reduce the interest rate on fixed rate reverse repo under the Liquidity Adjustment Facility (LAF) by 25 basis points from 4.00 per cent to3.75 per centwith immediate effect.
2. The policy repo rate under the LAF remains un...
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RBI |
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Extension of due date of EPFO upto 15-05-2020
Posted Date : 16-Apr-2020 , 09:30:43 am | Posted By: CASANSAAR
EMPLOYEES’ PROVIDENT FUND ORGANISATION
(Ministry of Labour & Employment, Govt. of India)
Head Office
Bhavishya Nidhi Bhawan, 1.4, Bhikaji Cama Place, New Delhi — 110 466.
Date: 15.04.2020
No.C-I/Misc./2019-20/Vol.II/Part./9
To,
All Addl. CPFCs in charge of Zones
All RPFCs in charge of Regional Offices
All OICs in charge of District Offices.
Subject: Extension of due date for payment of contributions and administrative charges/Inspection charges due f...
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Category :
Corporate Laws |
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Filings under section 124 and section 125 of the Companies Act 2013 r/w IEPFA (Accounting, Audit, Transfer and Refund) Rules 2016
Posted Date : 14-Apr-2020 , 08:43:47 am | Posted By: CASANSAAR
Filings under section 124 and section 125 of the Companies Act 2013 r/w IEPFA (Accounting, Audit, Transfer and Refund) Rules 2016 in view of emerging situation due to outbreak of COVID– 19....
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Category :
Companies Act |
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Clarification on passing of ordinary and special resolutions by companies under the Companies Act, 2013
Posted Date : 14-Apr-2020 , 08:42:11 am | Posted By: CASANSAAR
Clarification on passing of ordinary and special resolutions by companies under the Companies Act, 2013 and rules made thereunder on account of the threat posed by Covid-19....
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Category :
Companies Act |
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Clarification regarding short deduction of TDS/TCS due to increase in rates of surcharge by Finance (No. 2) Act, 2019
Posted Date : 14-Apr-2020 , 08:36:26 am | Posted By: CASANSAAR
The Finance (No.2) Bill,20 19 was tablcd in Lok Sabha on 51h July, 2019 which was passed by both the houses of Parliament and became Finance (No.2) Act, 2019 (the Act) which received assent of the President on l SI August, 2019. The Act provided for increase in the rate of surcharge as under:...
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Category :
Income Tax |
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Clarification in respect of option under section 115BAC of the Income-tax Act, 1961
Posted Date : 14-Apr-2020 , 08:34:20 am | Posted By: CASANSAAR
Section IISBAC of the Income-tax Act, 1961 (the Act), inserted by the Finance Act, 2020 wef the assessment year 202 1-22, infer alia, providcs that a person, being an individual or a Hindu undivided family having income other than income from business or profession", may exercise option in respect of a previous year to be taxed under the said section IISBAC alongwith his return of income to be furnished under sub-section (I) of section 139 of the Act for each year. The concessional rate pro...
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Income Tax |
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