G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 7 of the Union Territory Goods and Services Tax Act, 2017 (14 of 2017) and sub-section (5) of section 15 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 amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.1/2017-Union territory Tax (Rate), dated the 28th J...

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G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 5 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017) read with sub-section (5) of section 15 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 amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.1/2017- Integrated Tax (Rate), dated the 2...

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G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 9 and sub-section (5) of section 15 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 amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.1/2017-Central Tax (Rate), dated the 28th June, 2017, published in the Gazette of India, Extraordinary, Part II,...

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RBI/2019-20/163 DOR.AML.BC.No.36/14.06.001/2019-20 February 20, 2020 The Chairpersons/ CEOs of all the Regulated Entities Madam/Dear Sir, Implementation of Section 51A of UAPA, 1967 - Removal of two entries from 1267 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 Section 51A of the Unlawful Activities (Prevention...

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RBI/2019-20/162 A.P. (DIR Series) Circular No.21 February 20, 2020 All Category – I Authorised Dealer Banks Madam/Sir Exim Bank's Government of India supported Line of Credit of USD 11.13 million to the Government of the Republic of Suriname Export-Import Bank of India (Exim Bank) has entered into an agreement dated September 23, 2019 with the Government of the Republic of Suriname, for making available to the latter, Government of India supported Line of Credit (L...

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G.S.R. ....... (E).-ln exercise of the powers conferred by sections 396, 398, 399, 403 and 404 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 companies (Registration offices and Fees) Rules, 2014, namely:- ...

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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: - WATCH THIS VIDEO,,,, Income Tax Form 10-IC and 10-ID for Lower Corporate Taxes https://youtu.be/0QCyERD9VkI ...

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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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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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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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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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Category : Corporate Laws | Comments : 0 | Hits : 1140

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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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/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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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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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/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/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/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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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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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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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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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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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/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/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/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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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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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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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 | Comments : 0 | Hits : 1257