Amendment of the Income-tax Rules 1962 for the purposes of section 115BAA and section 115BAB of the Income-tax Act
Posted Date : 19-Feb-2020 , 09:01:37 am | Posted By: CASANSAAR
G.S.R. 110(E).—In exercise of the powers conferred by section 115BAA and section 115BAB read with section 295 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: -
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Income Tax |
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Implementation of Section 51A of UAPA, 1967: Addition of one new entry to 1533 Democratic Republic of the Congo (DRC) Sanctions list
Posted Date : 18-Feb-2020 , 06:24:39 pm | Posted By: CASANSAAR
RBI/2019-20/161
DOR.AML.BC.No.35/14.06.001/2019-20
February 18, 2020
The Chairpersons/ CEOs of all the Regulated Entities
Madam/Dear Sir,
Implementation of Section 51A of UAPA, 1967: Addition of one new entry to 1533 Democratic
Republic of the Congo (DRC) Sanctions list
Please refer to Section 51 of ourMaster Direction on Know Your Customer dated February 25, 2016 as amended on January 09, 2020, in terms of which “Regulated Entities (REs) shall ensure that in terms of ...
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RBI |
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Filing of forms by IRP, RP or Liquidator in Registry (MCA-21)
Posted Date : 18-Feb-2020 , 09:34:13 am | Posted By: CASANSAAR
The IRP/RP/Liquidator would have to first file the NCLT order approving him as the IRP/RP/Liquidator in form INC-28 on the MCA21 portal by selecting the option “Others” at serial no. 5(a)(i) from the drop down menu in the form. After filling in the form, the IRP/RP/Liquidator while affixing his DSC, shall choose his designation as “Others” in the declaration box....
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Corporate Laws |
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NIDHI (Second Amendment )Rules, 2020
Posted Date : 15-Feb-2020 , 09:43:18 am | Posted By: CASANSAAR
G.S.R.- (E).- In exercise of the powers conferred by sub-section (1) of section 406 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Nidhi Rules, 2014, namely:-
...
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Corporate Laws |
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Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2020
Posted Date : 14-Feb-2020 , 10:21:43 am | Posted By: CASANSAAR
In exercise of the powers conferred by clause (t) of subsection (1) of section 196 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Insolvency and Bankruptcy Board of India hereby makes the following regulations further to amend the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, namely:-...
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Corporate Laws |
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Companies (Issue of Global Depository Receipts) Amendment Rules, 2020
Posted Date : 14-Feb-2020 , 09:53:19 am | Posted By: CASANSAAR
G.S.R. _ (E).- In exercise of the powers conferred by section 41 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules to amend the Companies (Issue of Global Depository Receipts) Rules, 2014, namely:-...
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Companies Act |
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Micro, Small and Medium Enterprises (MSME) sector – Restructuring of Advances
Posted Date : 12-Feb-2020 , 09:43:32 am | Posted By: CASANSAAR
RBI/2019-20/160
DOR.No.BP.BC.34/21.04.048/2019-20
February 11, 2020
All banks and NBFCs regulated by the Reserve Bank of India
Dear Sir/ Madam,
Micro, Small and Medium Enterprises (MSME) sector – Restructuring of Advances
Please refer to thecircular DBR.No.BP.BC.18/21.04.048/2018-19 dated January 1, 2019. It has been decided to extend the one-time restructuring of MSME advances permitted in terms of the aforesaid circular. Accordingly, a one-time restructuring of existing...
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RBI |
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Incentivising Bank Credit to Specific Sectors – Exemption from CRR Maintenance
Posted Date : 10-Feb-2020 , 06:16:39 pm | Posted By: CASANSAAR
RBI/2019-20/159
DOR.No.Ret.BC.30/12.01.001/2019-20
February 10, 2020
All Scheduled Commercial Banks
Dear Sir / Madam
Incentivising Bank Credit to Specific Sectors – Exemption from CRR Maintenance
It has been announced in paragraph 3 of theStatement on Developmental and Regulatory Policies of February 6, 2020, that the Reserve Bank is actively engaged in revitalising the flow of bank credit to productive sectors having multiplier effects to support growth impulses. Accor...
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RBI |
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CBIC extends the time limit for submitting Tran 01 till 31.03.2020
Posted Date : 08-Feb-2020 , 10:23:09 am | Posted By: CASANSAAR
Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 117(1A) of the Central Goods and Service Tax Rules, 2017 in certain cases
...
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GST |
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Prudential Norms on Income Recognition, Asset Classification and Provisioning Pertaining to Advances - Projects under Implementation
Posted Date : 08-Feb-2020 , 10:08:02 am | Posted By: CASANSAAR
RBI/2019-20/158
DOR.No.BP.BC.33/21.04.048/2019-20
February 07, 2020
The Chairman / Chief Executive Officer
All Scheduled Commercial Banks (excluding RRBs)
All Small Finance Banks
Madam/Dear Sir,
Prudential Norms on Income Recognition, Asset Classification and Provisioning Pertaining to Advances - Projects under Implementation
Please refer to thecircular DBR.No.BP.BC.84/21.04.048/2014-15 dated April 6, 2015on the subject. It has been decided to harmonise the guidelines for d...
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RBI |
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Implementation of Section 51A of Unlawful Activities Prevention Act (UAPA), 1967- Updates to ISIL (Da'esh) & Al-Qaida Sanctions List
Posted Date : 08-Feb-2020 , 10:06:50 am | Posted By: CASANSAAR
RBI/2019-2020/157
DOR.AML.BC.No.32/14.06.001/2019-20
February 07, 2020
The Chairpersons/CEOs of all the Regulated Entities
Madam/Dear Sir,
Implementation of Section 51A of Unlawful Activities Prevention Act (UAPA), 1967- Updates to ISIL (Da'esh) & Al-Qaida Sanctions List
Please refer to Section 51 of ourMaster Direction on Know Your Customer dated February 25, 2016 as amended on January 09, 2020, in terms of which “Regulated Entities(REs) shall ensure that in te...
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RBI |
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Guidelines on Merchant Acquiring Business – Regional Rural Banks
Posted Date : 07-Feb-2020 , 09:35:16 am | Posted By: CASANSAAR
RBI/2019-20/156
DOR.RRB.BL.BC.No.31/31.01.001/2019-20
February 06, 2020
The Chairmen
All Regional Rural Banks
Madam/ Sir,
Guidelines on Merchant Acquiring Business – Regional Rural Banks
As announced in para II (7) of theStatement on Developmental and Regulatory Policiesissued along withSixth Bi-monthly Monetary Policy Statement 2019-20, it has been decided to allow RRBs to act as merchant acquiring banks using Aadhaar Pay – BHIM app and POS terminals.
In this con...
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RBI |
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Interest Subvention Scheme for MSMEs - RBI
Posted Date : 06-Feb-2020 , 09:41:34 am | Posted By: CASANSAAR
RBI/2019-20/155
FIDD.CO.MSME.BC.No.17/06.02.031/2019-20
February 5, 2020
The Chairman / Managing Director & CEOs
All Scheduled Commercial Banks
(including Regional Rural Banks)
Madam / Dear Sir,
Interest Subvention Scheme for MSMEs
Please refer to the operational guidelines for the captioned scheme contained in circular on ‘Interest Subvention Scheme for MSMEs’ issued videFIDD.CO.MSME.BC.No.14/06.02.031/2018-19 dated February 21, 2019.
2. In this regard, it h...
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RBI |
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CBIC notifies due date of GSTR 3B for January, February & March 2020
Posted Date : 04-Feb-2020 , 06:21:38 pm | 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 (hereafter in this notification referred to as the said rules), the Commissioner, on the recommendations of the Council, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.44/2019 &ndash...
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GST |
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Extension of Extension- Due date of Form GSTR-9/GSTR-9C extended
Posted Date : 04-Feb-2020 , 11:50:42 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), the Commissioner, on the recommendations of the Council, hereby extends the time limit for furnishing of the annual return specified under section 44 of th...
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GST |
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Cash withdrawal using Point of Sale (PoS) terminals
Posted Date : 01-Feb-2020 , 07:57:16 am | Posted By: CASANSAAR
RBI/2019-20/154
DPSS.CO.PD No.1465/02.14.003/2019-20
January 31, 2020
The Chairman / Managing Director / Chief Executive Officer
All Scheduled Commercial Banks (SCBs) including Regional Rural Banks (RRBs) /
Urban Co-operative Banks (UCBs) / State Co-operative Banks (StCBs) /
District Central Co-operative Banks (DCCBs) / Payments Banks (PBs) /
Small Finance Banks (SFBs) / Authorised Card Payment Networks
Madam / Dear Sir,
Cash withdrawal using Point of Sale (PoS) terminals
Ple...
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RBI |
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Standard Operating Procedure (SOP) to be followed by exporters–CBIC
Posted Date : 24-Jan-2020 , 03:16:57 pm | Posted By: CASANSAAR
As you are aware, several cases of monetisation of credit fraudulently obtained or ineligible credit through refund of Integrated Goods & Service Tax (IGST) on exports of goods have been detected in past few months. On verification, several such exporters were found to be non-existent in a number of cases. In all these cases it has been found that the Input Tax Credit (ITC) was taken by the exporters on the basis of fake invoices and IGST on exports was paid using such ITC...
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GST |
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Merchanting Trade Transactions (MTT) – Revised Guidelines
Posted Date : 24-Jan-2020 , 09:52:43 am | Posted By: CASANSAAR
RBI/2019-20/152
A.P. (DIR Series) Circular No.20
January 23, 2020
To
All Category – I Authorised Dealer Banks
Madam / Sir
Merchanting Trade Transactions (MTT) – Revised Guidelines
Attention of Authorised Dealer Category-I banks (AD banks) is invited toA.P. (DIR Series) Circular No.115 dated March 28, 2014containing directions relating to merchanting trade transactions.
2. With a view to further facilitate merchanting trade transactions, the existing guidelines have been rev...
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RBI |
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‘Voluntary Retention Route’ (VRR) for Foreign Portfolio Investors (FPIs) investment in debt – relaxations
Posted Date : 24-Jan-2020 , 09:51:34 am | Posted By: CASANSAAR
RBI/2019-20/151
A.P. (DIR Series) Circular No.19
January 23, 2020
To
All Authorised persons
Madam / Sir,
‘Voluntary Retention Route’ (VRR) for Foreign Portfolio Investors (FPIs) investment in debt – relaxations
Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to the Foreign Exchange Management (Debt Instruments) Regulations, 2019 notified videNotification No. FEMA. 396/2019-RB dated October 17, 2019, as amended from time to time,...
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RBI |
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Investment by Foreign Portfolio Investors (FPI) in Debt
Posted Date : 24-Jan-2020 , 09:50:36 am | Posted By: CASANSAAR
RBI/2019-20/150
A.P. (DIR Series) Circular No.18
January 23, 2020
To
All Authorised persons
Madam / Sir,
Investment by Foreign Portfolio Investors (FPI) in Debt
Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to Foreign Exchange Management (Debt Instruments) Regulations, 2019 notified videNotification No. FEMA. 396/2019-RB dated October 17, 2019, as amended from time to time, and the relevant directions issued thereunder. A reference is also invi...
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RBI |
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Implementation of Section 51A of Unlawful Activities Prevention Act (UAPA), 1967- Updates to ISIL (Da'esh) & Al-Qaida Sanctions List
Posted Date : 23-Jan-2020 , 09:40:44 am | Posted By: CASANSAAR
RBI/2019-20/149
DOR.AML.BC. No. 29/14.06.001/2019-20
January 22, 2020
The Chairpersons/ CEOs of all the Regulated Entities
Madam/Dear Sir,
Implementation of Section 51A of Unlawful Activities Prevention Act (UAPA), 1967- Updates to ISIL (Da'esh) & Al-Qaida Sanctions List
Please refer to Section 51 of ourMaster Direction on Know Your Customer dated February 25, 2016 as amended on January 09, 2020, in terms of which “Regulated Entities (REs) shall ensure that in t...
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Category :
RBI |
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0 | Hits : 1097
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Lending against security of single product – Gold jewellery
Posted Date : 22-Jan-2020 , 09:43:02 am | Posted By: CASANSAAR
RBI/2019-20/148
DOR.NBFC (PD).CC.No.108/03.10.001/2019-20
January 21, 2020
All Non-Banking Financial Companies (excluding Primary Dealers)
Madam/Sir,
Lending against security of single product – Gold jewellery
Please refer to paragraph 27 ofMaster Direction – Non-Banking Financial Company – Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016; and paragraph 27 ofMaster Direction – Non-Banking Fina...
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Category :
RBI |
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Setting up of IFSC Banking Units (IBUs) – Permissible activities
Posted Date : 22-Jan-2020 , 09:41:41 am | Posted By: CASANSAAR
RBI/2019-20/147
DOR.IBD.BC.No.28/23.13.004/2019-20
January 21, 2020
All Scheduled Commercial Banks
(excluding Regional Rural Banks)
Dear Sir/Madam
Setting up of IFSC Banking Units (IBUs) – Permissible activities
Please refer to RBIcircular DBR.IBD.BC.14570/23.13.004/2014-15 dated April 01, 2015, as modified from time to time, setting out RBI directions relating to IFSC Banking Units (IBUs).
2. The Task Force (TF) on Offshore Rupee Markets chaired by Smt. Usha Thorat...
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Category :
RBI |
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Introduction of Rupee derivatives at International Financial Services Centres (IFSC)
Posted Date : 21-Jan-2020 , 07:58:15 am | Posted By: CASANSAAR
RBI/2019-20/145
A.P. (DIR Series) Circular No.17
January 20, 2020
All Authorised Dealers
Madam / Sir,
Introduction of Rupee derivatives at International Financial Services Centres (IFSC)
Attention of Authorised Dealers is invited to the Foreign Exchange Management (International Financial Services Centre) Regulations, 2015 (Notification No. FEMA. 339/2015-RB dated 2nd March, 2015).
2. As announced in thestatement on Developmental and Regulatory Policies dated October 4, 2019, ...
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Category :
FEMA |
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Reporting of Large Exposures to Central Repository of Information on Large Credits (CRILC) – UCBs
Posted Date : 16-Jan-2020 , 08:53:25 pm | Posted By: CASANSAAR
RBI/2019-20/144
DoS.OSMOS.No.4633/33.05.018/2019-20
January 16, 2020
Primary (Urban) Co-operative Banks
Dear Sir / Madam
Reporting of Large Exposures to Central Repository of Information on Large Credits (CRILC) – UCBs
We draw your attention to RBICircular DOR (PCB). BPD.Cir.No.7/13.05.000/2019-20 dated December 27, 2019on "Reporting of Large Exposures to Central Repository of Information on Large Credits (CRILC) - UCBs". In terms of the instructions, Primary (Urb...
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Category :
RBI |
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Hedging of Commodity Price Risk and Freight Risk in Overseas Markets (Reserve Bank) Directions, 2018 - Amendment
Posted Date : 15-Jan-2020 , 10:11:30 pm | Posted By: CASANSAAR
RBI/2019-20/143
A.P. (DIR Series) Circular No. 16
January 15, 2020
All Authorised Dealer Category – I Banks
Madam / Sir,
Hedging of Commodity Price Risk and Freight Risk in Overseas Markets (Reserve Bank) Directions, 2018 - Amendment
Please refer to Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 (Notification No. FEMA 25/RB-2000 dated May 3, 2000), as amended from time to time, and Hedging of Commodity Price Risk and Freight Risk in Ov...
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Category :
FEMA |
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Enhancing Security of Card Transactions
Posted Date : 15-Jan-2020 , 05:58:41 pm | Posted By: CASANSAAR
RBI/2019-20/142
DPSS.CO.PD No.1343/02.14.003/2019-20
January 15, 2020
The Chairman / Managing Director / Chief Executive Officer
All Scheduled Commercial Banks (SCBs) including Regional Rural Banks (RRBs) /
Urban Co-operative Banks (UCBs) / State Co-operative Banks (StCBs) /
District Central Co-operative Banks (DCCBs) / Payments Banks (PBs) /
Small Finance Banks (SFBs) / Local Area Banks (LABs) /
Authorised Card Payment Networks / Non-Bank PPI issuers
Madam / Dear Sir,
Enhancin...
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Category :
RBI |
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Appointment of Revisional Authority | CGST Act, 2017 | Section 108
Posted Date : 14-Jan-2020 , 01:17:51 pm | Posted By: CASANSAAR
G.S.R.....(E).– In pursuance of the provisions of section 5 read with clause (99) of section 2 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred to as the said Act), the Central Board of Indirect Taxes and Customs hereby authorises -...
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Category :
GST |
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Extention of due date to file GSTR1 returns without late fees
Posted Date : 11-Jan-2020 , 11:40:27 am | Posted By: CASANSAAR
G.S.R.....(E),– In exercise of the powers conferred by section 128 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 further amendment in the notification of the Government of India in the Ministry of Finance, Department of Revenue No. 4/2018– Central Tax, dated the 23rd January, 2018, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub- section (i) vide number ...
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Category :
GST |
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Framework for imposing monetary penalty on authorised payment system operators / banks under the Payment and Settlement Systems Act, 2007
Posted Date : 11-Jan-2020 , 09:48:30 am | Posted By: CASANSAAR
RBI/2019-20/140
DPSS.CO.OD.No.1328/06.08.005/2019-20
January 10, 2020
The Chairman / Managing Director / Chief Executive Officer
Authorised Payment System Operators / Banks
Madam / Dear Sir
Framework for imposing monetary penalty on authorised payment system
operators / banks under the Payment and Settlement Systems Act, 2007
Please refer to the Reserve Bank of India (RBI)circular DPSS.CO.OD.No.1082/06.08.005/2016-17 dated October 20, 2016advising the framework for impositi...
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RBI |
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