CBIC exempts certain services from IGST wef 01.10.2019
Posted Date : 02-Oct-2019 , 10:40:59 am | Posted By: CASANSAAR
G.S.R......(E).- In exercise of the powers conferred by sub-section (1) of section 6 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central Government, on being satisfied that it is necessary for the public interest so to do, 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.9/2017- Integrated Tax (Rate), dated the 28th June 2017, publishe...
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Income Tax |
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Changes in IGST rates of various services wef 01.10.2019
Posted Date : 02-Oct-2019 , 10:37:13 am | Posted By: CASANSAAR
G.S.R......(E).- In exercise of the powers conferred by sub-sections (1), (3) and (4) of section 5, sub-section (1) of section 6 and clauses (iii), (iv) and (xxv) of section 20 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), read with sub-section (5) of section 15, subsection (1) of section 16 and section 148 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, and on being satisfied that it is necessary for...
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GST |
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IGST Exemption on supply of goods for specified projects under FAO
Posted Date : 02-Oct-2019 , 10:34:32 am | Posted By: CASANSAAR
G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 6 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central Government, on being satisfied that it is necessary in the public interest so to do, on the recommendations of the Council, hereby exempts, all the goods supplied to the Food and Agricultural Organisation of the United Nations (FAO) for execution of projects listed below in the Annexure, from whole of the Integrated tax leviable thereon und...
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GST |
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CBIC exempt IGST on supplies of silver & platinum by nominated agencies to registered persons
Posted Date : 02-Oct-2019 , 10:32:33 am | Posted By: CASANSAAR
G.S.R.- - - (E).- In exercise of the powers conferred by sub-section (1) of section 6 of the Integrated Goods and Services Tax Act, 2017 (13 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.27/2018- Integrated Tax (Rate), dated the 31st December, 2018, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (...
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Income Tax |
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CBIC extends concessional IGST rates to specified projects under HELP/OALP
Posted Date : 02-Oct-2019 , 10:28:26 am | Posted By: CASANSAAR
G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 6 of the Integrated Goods and Services Tax Act, 2017 (13 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.3/2017- Integrated Tax (Rate), dated the 28th June 2017 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide nu...
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Income Tax |
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IGST exemption to dried tamarind and cups, plates made of leaves, bark and flowers of plants
Posted Date : 02-Oct-2019 , 10:26:12 am | Posted By: CASANSAAR
G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 6 of the Integrated Goods and Services Tax Act, 2017 (13 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.2/2017-Integrated Tax (Rate), dated the 28th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i),...
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GST |
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Changes in IGST rates for specified goods wef 01.10.2019
Posted Date : 02-Oct-2019 , 10:24:08 am | Posted By: CASANSAAR
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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GST |
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CBIC notifies place of supply of R&D services related to pharmaceutical sector
Posted Date : 02-Oct-2019 , 10:14:47 am | Posted By: CASANSAAR
G.S.R......(E).- In exercise of the powers conferred by sub-section (13) of section 13 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central Government, on being satisfied that it is necessary in order to prevent double taxation or non-taxation of the supply of a service, or for the uniform application of rules, on the recommendations of the Council, hereby notifies following description of services or circumstances as specified in Column (2) of the Table A, in which the p...
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Income Tax |
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Credit for TDS paid under section 194N of the Income Tax Act, 1961
Posted Date : 02-Oct-2019 , 09:08:48 am | Posted By: CASANSAAR
G.S.R. 694(E).In exercise of the powers conferred by section 199 read with section 295 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:—...
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Income Tax |
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Conduct of assessment proceedings through E-Proceeding facility during FY 2019-20
Posted Date : 02-Oct-2019 , 09:05:26 am | Posted By: CASANSAAR
The Central Board of Direct Taxes ('Board'), in exercise of its powers under section 119 of the Income-tax Act,1961 ('Act') and in accordance with provision of section 2(23C) of the Act, hereby directs as under:...
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Income Tax |
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Sovereign Gold Bond (SGB) Scheme 2019-20 - Series V/VI/VII/VIII/IX/X - Operational Guidelines
Posted Date : 01-Oct-2019 , 08:59:04 am | Posted By: CASANSAAR
RBI/2019-20/74
IDMD.CDD.No.891/14.04.050/2019-20
September 30, 2019
The Chairman & Managing Director
All Scheduled Commercial Banks
(Excluding RRBs)
Designated Post Offices
Stock Holding Corporation of India ltd.(SHCIL)
National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd.
Dear Sir/Madam,
Sovereign Gold Bond (SGB) Scheme 2019-20 - Series V/VI/VII/VIII/IX/X - Operational Guidelines
This has reference to theGoI notification F.No.4(7)-B (W&M)/2019 dated...
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RBI |
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Sovereign Gold Bond Scheme (SGB) 2019-20 Series V/VI/VII/VIII/IX/X
Posted Date : 01-Oct-2019 , 08:57:56 am | Posted By: CASANSAAR
RBI/2019-20/73
IDMD.CDD.No.890/14.04.050/2019-20
September 30, 2019
The Chairman & Managing Director
All Scheduled Commercial Banks,
(Excluding RRBs)
Designated Post Offices
Stock Holding Corporation of India Ltd.(SHCIL)
National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd.
Dear Sir/Madam,
Sovereign Gold Bond Scheme (SGB) 2019-20 Series V/VI/VII/VIII/IX/X
Government of India has vide itsNotification F.No.4(7)-B W&M/2019 dated September 30, 2019announ...
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RBI |
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Extension of due date for linking of PAN with Aadhaar from 30.09.2019 to 31.12.2019
Posted Date : 30-Sep-2019 , 08:45:46 am | Posted By: CASANSAAR
S.O ........... (E).- In exercise of the powers conferred under sub-section (2) of section 139AA of the Incometax Act, 1961 (,Act')(43 of 1961), the Central Government hereby amends the notification of the Ministry of Finance (Department of Revenue) dated 31st March,2019, published in the Gazette of Indi a, Extraordinary, Part-II, Section 3, sub-section (ii) vide S.O. number 149S(E) dated OPt Apri1,2019....
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Income Tax |
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Order under section 119 of the Income-tax Act, 1961 - Extension of due-date
Posted Date : 28-Sep-2019 , 10:21:21 am | Posted By: CASANSAAR
Order under section 119 of the Income-tax Act, 1961 - Extension of due-date...
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Income Tax |
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Clarifications in respect of filling-up of return forms for the Assessment Year 2019-20
Posted Date : 26-Sep-2019 , 09:21:27 pm | Posted By: CASANSAAR
The Income-tax Return (ITR) forms for the Assessment Year (A.Y.) 2019-20 were notified vide notification bearing G.S.R. 279(E) dated the O1st day of April, 2019. Subsequently; instructions for filing ITR forms were issued and the software utility for e-filing of all the ITR forms was also released. After notification of the ITR forms, various queries were raised by the stakeholders in respect of filling-up of the ITR forms. The queries were examined in the Board and clarifications were issued to...
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Income Tax |
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Agency Commission- Furnishing reconciliation certificate - RBI
Posted Date : 26-Sep-2019 , 09:53:37 am | Posted By: CASANSAAR
RBI/2019-20/69
DGBA.GBD.No.648/31.12.007/2019-20
September 25, 2019
All Agency Banks
Dear Sir / Madam
Agency Commission- Furnishing reconciliation certificate
Please refer to ourCircular No RBI/2019-20/21 DGBA.GBD.No.5/31.02.007/2019-20 dated July 31, 2019related to claiming of agency commission based on which agency banks are submitting two certificates to RBI along with the agency commission claims.
2. It is now been decided that agency banks while claiming agency commission...
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RBI |
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Extension of time for filing BEN-2 - MCA
Posted Date : 25-Sep-2019 , 08:42:57 am | Posted By: CASANSAAR
The Ministry of Corporate Affairs has received rePresentations regarding extension of the last date {or filing of e-Form BEN-2 without additional fees on account of certain new asPects which require further examination and clarification. The matter has been examined and it is hereby informed that the time limit for filing e-form No. BEN-2 is extended upto 31.12.2019 without payment of additional fee and thereafter fee and additional fee shall be payable. Consequent to the extension in the date o...
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Corporate Laws |
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CBDT notifies Income-tax Authorities to facilitates conduct of e-assessment
Posted Date : 25-Sep-2019 , 08:35:04 am | Posted By: CASANSAAR
S.O. 3435(E).—In pursuance of the powers conferred by sub-sections (1), (2) and (5) of Section 120 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby directs that the Income-tax Authority specified in column (2) of Schedule below, having its headquarters at the place mentioned in column (3) of the said Schedule, shall exercise and perform, concurrently, the powers and functions of the Assessing Officer, to facilitate the conduct of E-assessment proceedings i...
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CBDT |
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Exemption to commission agents or traders operating under APMC - CBDT
Posted Date : 24-Sep-2019 , 09:11:05 am | Posted By: CASANSAAR
S.O. 3427(E).—In exercise of the powers conferred by clause (v) of the proviso to section 194N of the Income-tax Act, 1961 (43 of 1961), the Central Government after consultation with the Reserve Bank of India, hereby specifies the commission agent or trader, operating under Agriculture Produce Market Committee (APMC), and registered under any Law relating to Agriculture Produce Market of the concerned State, who has intimated to the banking company or co-operative society or post office h...
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CBDT |
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Higher depreciation on certain motor cars, motor buses, motor lorries and motor taxis - CBDT
Posted Date : 24-Sep-2019 , 09:08:51 am | Posted By: CASANSAAR
G.S.R. 679 (E).—In exercise of the powers conferred by section 32 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes, hereby, makes the following rules to further amend the Income-tax Rules, 1962, namely:...
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CBDT |
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Harmonisation of Turn Around Time (TAT) and customer compensation for failed transactions using authorised Payment Systems
Posted Date : 21-Sep-2019 , 09:11:44 am | Posted By: CASANSAAR
RBI/2019-20/67
DPSS.CO.PD No.629/02.01.014/2019-20
September 20, 2019
All Operators and Participants of Authorised Payment Systems
Madam / Dear Sir,
Harmonisation of Turn Around Time (TAT) and customer compensation for failed transactions using authorised Payment Systems
Please refer to theStatement on Developmental and Regulatory policiesissued as part of Monetary Policy statement dated April 4, 20...
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RBI |
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Priority Sector Lending (PSL) – Classification of Exports under priority Sector
Posted Date : 21-Sep-2019 , 09:10:36 am | Posted By: CASANSAAR
RBI/2019-20/66
FIDD.CO.Plan.BC.12/04.09.01/2019-20
September 20, 2019
The Chairman/Managing Director & CEOs
All Scheduled Commercial Banks including SFBs
(Excluding Regional Rural Banks)
Madam/Dear Sir,
Priority Sector Lending (PSL) – Classification of Exports under priority Sector
In order to boost credit to export sector, it has been decided to effect following changes in para 8 of the“Master Direction on Priority Sector Lending-targets and Classification&rdqu...
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RBI |
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RBI issued Revised Guidelines for Concurrent Audit System of Banks
Posted Date : 20-Sep-2019 , 08:37:43 am | Posted By: CASANSAAR
RBI/2019-20/64
DBS.CO.ARS.No.BC.01/08.91.021/2019-20
September 18, 2019
All Scheduled Commercial Banks (other than Regional Rural Banks), Small Finance Banks, Payments Banks and Local Area Banks
Madam/ Dear Sir,
Concurrent Audit System
Please refer tocircular DBS.CO.ARS.No.BC.2/08.91.021/2015-16 dated July 16, 2015on ‘Concurrent Audit System in Commercial Banks - Revision of RBI's Guidelines’.
2. As you are aware, concurrent audit aims at shortening the interva...
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RBI |
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Priority Sector Targets - Lending to Non-Corporate Farmers – FY 2019-20
Posted Date : 20-Sep-2019 , 08:34:34 am | Posted By: CASANSAAR
RBI/2019-20/63
FIDD.CO.Plan.BC.No.11/04.09.01/2019-20
September 19, 2019
The Chairman/ Managing Director
Chief Executive Officer
(All Scheduled Commercial Banks including Regional Rural Banks, Small Finance
Banks and Foreign banks with more than 20 branches)
Dear Sir/ Madam,
Priority Sector Targets - Lending to Non-Corporate Farmers – FY 2019-20
Please refer to ourCircular...
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RBI |
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Implementation of Section 51-A of Unlawful Activities Prevention Act (UAPA), 1967
Posted Date : 20-Sep-2019 , 08:33:54 am | Posted By: CASANSAAR
RBI/2019-20/65
DBR.AML.BC.No.16/14.06.001/2019-20
September 19, 2019
The Chairpersons/CEOs of all the Regulated Entities
Dear Sir/Madam,
Implementation of Section 51-A 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 August 09, ...
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RBI |
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CBDT omits Proviso to Sub-Rule (5) of Rule 2F of Income-tax Rules 1962
Posted Date : 18-Sep-2019 , 07:41:01 am | Posted By: CASANSAAR
G.S.R. 661(E).—In exercise of the powers conferred by clause (47) of section 10 read with section 295 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: —...
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CBDT |
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Monetary appeal filing limit not applicable to capital gain through penny stocks
Posted Date : 18-Sep-2019 , 07:38:54 am | Posted By: CASANSAAR
The undersigned is directed to refer to Circular No. 23 of 2019 dated 6th September, 2019 and to say that by virtue of powers of the Central Board of Direct Taxes u/s 268A of Income-tax Act,1961, the monetary limits fixed for filing appeals before ITAT/HC and SLPs /appeals before Supreme Court shall not apply in case of assesses claiming bogus LTCG/STCL through penny stocks and appeals/SLPs in such cases shall be filed on merits....
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Income Tax |
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Bharat Bill Payment System - Expansion of biller categories
Posted Date : 17-Sep-2019 , 08:03:16 am | Posted By: CASANSAAR
RBI/2019-20/61
DPSS.CO.PD.No.605/02.27.020/2019-20
September 16, 2019
The Chairman and Managing Director / Chief Executive Officer
Scheduled Commercial Banks including RRBs /
Urban Co-operative Banks / State Co-operative Banks /
District Central Co-operative Banks / Payment Banks / Small Finance Banks
Bharat Bill Payment System Providers / System Participants
and prospective Bharat Bill Payment Operating Units
Madam / Dear Sir,
Bharat Bill Payment System - Expansion of biller c...
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RBI |
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Large Exposures Framework
Posted Date : 12-Sep-2019 , 09:30:58 pm | Posted By: CASANSAAR
RBI/2019-20/60
DBR.No.BP.BC.18/21.01.003/2019-20
September 12, 2019
All Scheduled Commercial Banks
(Excluding Regional Rural Banks)
Dear Sir/Madam,
Large Exposures Framework
Please refer to paragraph 7 (a) of theStatement on Developmental and Regulatory Policies dated August 7, 2019on ‘Harmonisation of single counterparty exposure limit for banks’ exposures to a single NBFC with general single counterparty exposure limit’ (extract enclosed).
2. In terms of c...
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RBI |
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Risk Weight for Consumer Credit except credit card receivables
Posted Date : 12-Sep-2019 , 09:30:10 pm | Posted By: CASANSAAR
RBI/2019-20/59
DBR.No.BP.BC.17/21.06.001/2019-20
September 12, 2019
All Scheduled Commercial Banks
All Local Area Banks
All Small Finance Banks
All Regional Rural Banks
Dear Sir/Madam,
Risk Weight for Consumer Credit except credit card receivables
Please refer to paragraph 6 of theStatement on Developmental and Regulatory Policies dated August 7, 2019on ‘Reduction in risk weight for consumer credit except credit card receivables’ (extract enclosed).
2. As per ex...
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Category :
RBI |
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