Due date to furnish Form GSTR-1 for turnover of more than Rs.1.5 Cr extended
Posted Date : 29-Jun-2019 , 08:40:23 am | Posted By: CASANSAAR
G.S.R......(E). - In exercise of the powers conferred by the second proviso to sub-section (1) of section 37 read with section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act), the Commissioner, on the recommendations of the Council, hereby extends the time limit for furnishing the details of outward supplies in FORM GSTR-1 of the Central Goods and Services Tax Rules, 2017, by such class of registered persons having agg...
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Due date to furnish Form GSTR-1 for turnover up to Rs. 1.5 Cr extended
Posted Date : 29-Jun-2019 , 08:39:07 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) (hereafter in this notification referred to as the said Act), the Central Government, on the recommendations of the Council, hereby notifies the registered persons having aggregate turnover of up to 1.5 crore rupees in the preceding financial year or the current financial year, as the class of registered persons who shall follow the special procedure as mentioned...
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GST |
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TDS returns in Form GSTR-7 due date extended to 31.08.2019
Posted Date : 29-Jun-2019 , 08:37:09 am | Posted By: CASANSAAR
G.S.R. .....(E).—In exercise of the powers conferred by sub-section (6) of section 39 read with section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred to as the said Act), and in supercession of the notifications of the Government of India in the Ministry of Finance, Department of Revenue –...
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GST |
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Extension of Date and Method of doing DIR-3 KYC - MCA
Posted Date : 28-Jun-2019 , 09:17:09 am | Posted By: CASANSAAR
The Ministry of Corporate Affairs has received representations from stakeholders expressing certain difficulties in filing e-form DIR-3 KYC in accordance with Rule 12A of the Companies (Appointment and Qualification of Directors) Rules, 2014. Requests have also been made for extension of period for filing such form....
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Companies Act |
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Gold Card Scheme for Exporters - RBI
Posted Date : 28-Jun-2019 , 08:35:13 am | Posted By: CASANSAAR
RBI/2018-19/224
DBR.Dir.BC.No.48/04.02.002/2018-19
June 27, 2019
To
All Scheduled Commercial Banks
(Excluding RRBs)
All Small Finance Banks
All Local Area Banks
Dear Sir / Madam,
Gold Card Scheme for Exporters
Please refer to para 8.1.3 of theMaster Circular DBR No.DIR.BC.14/04.02.002/2015-16 dated July 01, 2015wherein detailed instructions on ‘Gold Card Scheme for Exporters’ have been given.
2. We have been receiving representations from exporters and their As...
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Bank branches to accept coins of all denominations tendered at their counters - RBI
Posted Date : 27-Jun-2019 , 08:24:43 am | Posted By: CASANSAAR
RBI/2018-19/223
DCM (NE) No.3057/08.07.18/2018-19
June 26, 2019
The Chairman and Managing Director /
The Managing Director/
The Chief Executive Officer
All Banks
Madam / Dear Sir,
Acceptance of coins
We invite a reference to ourcircular DCM (RMMT) No.2945/11.37.01/2017-18 dated February 15, 2018on the captioned subject and Paragraph 1 (d) of ourMaster Circular DCM (NE) No.G-2/08.07.18/2018-19 dated July 02, 2018 (updated as on January 14, 2019)on Facility for Exchange of Notes...
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Rupee Interest Rate Derivatives (Reserve Bank) Directions, 2019
Posted Date : 27-Jun-2019 , 08:23:16 am | Posted By: CASANSAAR
RBI/2018-19/222
FMRD.DIRD.19/14.03.046/2018-19
June 26, 2019
To
All participants in Rupee interest rate derivatives markets
Dear Sir/Madam
Rupee Interest Rate Derivatives (Reserve Bank) Directions, 2019
Please refer to Paragraph 8 of theStatement on Developmental and Regulatory Policies, Reserve Bank of India, issued as part of the sixth Bi-monthly Monetary Policy Statement for 2018-19 dated February 07, 2019regarding rationalization of interest rate derivative directions.
...
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Financial Benchmark Administrators (Reserve Bank) Directions, 2019
Posted Date : 27-Jun-2019 , 08:22:24 am | Posted By: CASANSAAR
RBI/2018-19/221
FMRD.FMSD.17/03.07.035/2018-19
June 26, 2019
To
All eligible market participants
Dear Sir/Madam
Financial Benchmark Administrators (Reserve Bank) Directions, 2019
Please refer to Paragraph 2 of theStatement on Developmental and Regulatory Policies of the Fourth Bi-monthly Monetary Policy Statement for 2018-19 dated October 05, 2018, wherein it was announced that the Reserve Bank will introduce a regulatory framework for financial benchmarks, to improve the govern...
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RBI |
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Sharing of information with Public Sector Banks in case of loan defaulters
Posted Date : 26-Jun-2019 , 01:56:35 pm | Posted By: CASANSAAR
F. No.225/148/2019/ITA.II
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
North Block New Delhi, dated,25thJune, 2019
To,
All Principal Chief-Commissioners of Income Tax
Sir/Madam,
Subject:- Sharing of information with Public Sector Banks in case of loan defaulters -reg.
Many a time, Public Sector Banks (PSBs) request the Income-tax Department (ITD) to furnish information in respect of immovable assets of a loan defaulter to enabl...
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Income Tax |
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CBIC reveals GST Audit Plan / Strategy for the year 2019-20
Posted Date : 26-Jun-2019 , 01:53:48 pm | Posted By: CASANSAAR
DIRECTORATE GENERAL OF AUDIT
INDIRECT TAXES
C.R. BUILDING, I.P. ESTATE
NEW DELHI -110109
Ph. 011-23370075
Email: dg.audit-cbec@nic.in
F. No. 381/49/2019
Dated: 25/06/2019
To
The Principal Chief Commissioners/Chief Commissioners of GST and Central Excise (All).
Madam/Sir,
Subject: Audit Plan for the year 2019 – 20 – reg
***********
Kind attention is invited to this Directorate General’s letter dated 29.05.2019.
2. In continuation to the Audit Plan...
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GST |
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Rationalisation and Revision of Agency Commission Payable to Banks on Government Transactions
Posted Date : 23-Jun-2019 , 05:48:44 am | Posted By: CASANSAAR
RBI/2018-19/219
DGBA.GBD.No.3144/31.02.007/2018-19
June 20, 2019
All agency banks
Sir/Madam
Rationalisation and Revision of Agency Commission
Payable to Banks on Government Transactions
A reference is invited to ourcircular DGBA.GAD.No.7575/31.12.011/2011-12 dated May 22, 2012advising revision in the rates of agency commission payable to agency banks with effect from July 01, 2012.
2. Since then, there has not only been an expansion in volume and value of government receipts ...
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RBI |
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Formation of new district in the States of Telangana and Madhya Pradesh – Assignment of Lead Bank Responsibility
Posted Date : 23-Jun-2019 , 05:48:07 am | Posted By: CASANSAAR
RBI/2018-19/218
FIDD.CO.LBS.BC.No.19/02.08.001/2018-19
June 20, 2019
The Chairmen / Managing Directors & Chief Executive Officers
All Lead Banks
Madam/ Dear Sir,
Formation of new district in the States of Telangana and Madhya Pradesh –
Assignment of Lead Bank Responsibility
The Government of Telangana vide Gazette Notification G.O.MS.No.18 and 19 dated February 16, 2019 had notified the formation of two new districts in the State of Telangana and the Government of Mad...
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RBI |
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Rollout of the foreign exchange trading platform for retail participants – FX-Retail
Posted Date : 23-Jun-2019 , 05:47:29 am | Posted By: CASANSAAR
RBI/2018-19/217
FMRD.FMD.16/02.03.225/2018-19
June 20, 2019
All Eligible Market Participants
Dear Sir/Madam,
Rollout of the foreign exchange trading platform for retail participants – FX-Retail
Please refer to theStatement on Developmental and Regulatory Policies dated June 06, 2019, announcing the introduction of an electronic trading platform for buying/selling foreign exchange by retail customers of banks. The platform, FX-Retail, is ready for rollout by the Clearing Cor...
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RBI |
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Discontinuation of the requirement of Paper to Follow (P2F) for State Government Cheques
Posted Date : 23-Jun-2019 , 05:46:47 am | Posted By: CASANSAAR
RBI/2018-19/216
DGBA.GBD.No.3136/42.01.035/2018-2019
June 20, 2019
The Chairman and Managing Director/
The Chief Executive Officer
All Agency Banks
Madam / Dear Sir,
Discontinuation of the requirement of Paper to Follow (P2F) for State Government Cheques
With a view to enhancing efficiency in cheque clearing, Reserve Bank has introduced Cheque Truncation System (CTS) for clearance of cheques, facilitating the presentation and payment of cheques without their physical movement. ...
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RBI |
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Restriction on E-way Bill Issuance relaxed till 21st August 2019
Posted Date : 23-Jun-2019 , 05:45:07 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, and on being satisfied that it is necessary in the public interest so to do, hereby makes the following amendment in the notification of the Government of India, Ministry of Finance, Department of Revenue No.22/2019- Central Tax, dated the 23rd April, 2019, published in the Gazette of India, Extr...
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GST |
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Mechanism to verify the IGST payments for goods exported out of India in certain cases
Posted Date : 19-Jun-2019 , 10:03:07 am | Posted By: CASANSAAR
The procedure for claiming IGST refunds is fully automated as provided under Instruction 15/2017-Cus dated 09.10.2017. It has come to the notice of the Board that instances of availment of IGST refund using fraudulent ITC claims by some exporters have been observed by various authorities. Exporters have availed ITC on the basis of ineligible documents or fraudulently and utilized that credit for payment of IGST on goods exported out of India. It has also been observed in several cases that there...
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Custom |
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Scheme for Reimbursement of MDR- withdrawal of RBI circulars
Posted Date : 14-Jun-2019 , 09:19:41 am | Posted By: CASANSAAR
RBI/2018-19/210
DGBA.GBD.No.3089/43.33.001/2018-19
June 13, 2019
To
All Acquiring Banks of Debit Card/ BHIM UPI/ BHIM Aadhaar Pay transactions
Dear Sir
Scheme for Reimbursement of MDR- withdrawal of RBI circulars
Please refer to our following instructions on the MDR reimbursement schemes:
Circular no. RBI/2016-17/228
DGBA.GAD.No.2128/44.02.001/2016-17 dated February 16, 2017
Circular no. RBI/2017-18/55
DGBA.GBD.No.505/31.02.007/2017-18 dated September 7, 2...
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RBI |
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National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) systems – Waiver of charges
Posted Date : 12-Jun-2019 , 08:45:10 am | Posted By: CASANSAAR
RBI/2018-2019/208
DPSS (CO) RPPD No.2557/04.03.01/2018-19
June 11, 2019
The Chairman / Managing Director / Chief Executive Officer
of member banks participating in RTGS and / or NEFT
Madam / Sir
National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) systems – Waiver of charges
Please refer to paragraph No. 8 of the Second Bi-monthly Monetary PolicyStatement on Developmental and Regulatory Policies for 2019-20 dated June 06, 2019on the above subject...
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RBI |
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Financial Inclusion- Access to Banking Services – Basic Savings Bank Deposit Account (BSBDA)
Posted Date : 11-Jun-2019 , 08:52:48 am | Posted By: CASANSAAR
RBI/2018-19/206
DBR.LEG.BC.No.47/09.07.005/2018-19
June 10, 2019
All Scheduled Commercial Banks (including RRBs)
All Payments Banks
All Small Finance Banks
All Local Area Banks
Dear Sir/ Madam
Financial Inclusion- Access to Banking Services – Basic Savings Bank Deposit Account (BSBDA)
Please refer to ourcircular DBOD.No.Leg.BC.35/09.07.005/2012-13 dated August 10, 2012on the captioned subject.
2. The Basic Savings Bank Deposit (BSBD) Account was designed as a savings ...
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RBI |
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Sale of Securities held in Held to Maturity (HTM) Category - Accounting treatmen
Posted Date : 11-Jun-2019 , 08:51:55 am | Posted By: CASANSAAR
RBI/2018-19/205
DCBR.BPD.(PCB) Cir.No.10/16.20.000/2018-19
June 10, 2019
The Chief Executive Officers of
All Primary (Urban) Co-operative Banks
Madam / Dear Sir,
Sale of Securities held in Held to Maturity (HTM) Category - Accounting treatment
Please refer to Para 16.2 ofMaster Circular DCBR.BPD.(PCB).MC.No.4/16.20.000/2015-16 dated July 01, 2015on Investments by Primary (Urban) Co-operative Banks (UCBs) indicating that securities acquired by banks with the intention to hold the...
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RBI |
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Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by Bank
Posted Date : 11-Jun-2019 , 08:51:07 am | Posted By: CASANSAAR
RBI/2018-19/204
DBR.No.BP.BC.46/21.04.141/2018-19
June 10, 2019
All Commercial Banks
(excluding RRBs)
Dear Sir/Madam
Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by Banks - Sale of investments held under Held to Maturity (HTM) category
Please refer to ourcircular DBR No BP.BC.6/21.04.141/2015-16 dated July 1, 2015, advising banks that if the value of sales and transfer of securities to / from HTM category exceeds 5 per cent of the book val...
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RBI |
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Standing Liquidity Facility for Primary Dealers - RBI
Posted Date : 07-Jun-2019 , 08:12:02 am | Posted By: CASANSAAR
RBI/2018-19/200
REF.No.MPD.BC.387/07.01.279/2018-19
June 06, 2019
All Primary Dealers,
Standing Liquidity Facility for
Primary Dealers
In theSecond Bi-monthly Monetary Policy Statement 2019-20 of the Monetary Policy Committee (MPC) of June 06, 2019, the policy repo rate under the Liquidity Adjustment Facility (LAF) has been reduced by 25 basis points to 5.75 per cent from 6.00 per cent with immediate ...
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RBI |
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Change in Bank Rate - RBI
Posted Date : 07-Jun-2019 , 08:11:15 am | Posted By: CASANSAAR
RBI/2018-19/199
DBR.No.Ret.BC.44/12.01.001/2018-19
June 06, 2019
The Chairperson / CEOs of all Scheduled and Non Scheduled Banks
Dear Sir / Madam,
Change in Bank Rate
Please refer to ourcircular DBR.No.Ret.BC.33/12.01.001/2018-19 dated April 04, 2019on the captioned subject.
2. As announced in theSecond Bi-Monthly Monetary Policy Statement 2019-20 of June 06, 2019, the Bank Rate is revised downwards by 25 basis points from 6.25 per cent to 6.00 per cent with immediate effect.
...
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RBI |
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Marginal Standing Facility - RBI
Posted Date : 07-Jun-2019 , 08:10:30 am | Posted By: CASANSAAR
RBI/2018-2019/198
FMOD.MAOG. No.133/01.18.001/2018-19
June 6, 2019
All Marginal Standing Facility (MSF) participants
Madam/Sir,
Marginal Standing Facility
As announced in theSecond Bi-monthly Monetary Policy Statement, 2019-20, today, it has been decided by the Monetary Policy Committee (MPC) to reduce the policy Repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points from 6.00 per cent to5.75 per centwith immediate effect.
2. Consequently, the Marginal Stan...
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RBI |
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Liquidity Adjustment Facility – Repo and Reverse Repo Rates
Posted Date : 07-Jun-2019 , 08:09:42 am | Posted By: CASANSAAR
RBI/2018-2019/197
FMOD.MAOG.No.132/01.01.001/2018-19
June 6, 2019
All Liquidity Adjustment Facility (LAF) participants
Madam/Sir,
Liquidity Adjustment Facility – Repo and Reverse Repo Rates
As announced in theSecond Bi-monthly Monetary Policy Statement, 2019-20, today, it has been decided by the Monetary Policy Committee (MPC) to reduce the policy Repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points from 6.00 per cent to5.75 per centwith immediate effe...
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RBI |
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Procedure to file e-TDS/TCS statement online through income tax e-filing portal
Posted Date : 07-Jun-2019 , 08:08:07 am | Posted By: CASANSAAR
Government of India
Ministry of Finance
Central Board of Direct Taxes
Directorate of Income Tax (Systems)
Notification No. 10/2019
New Delhi, 04, June, 2019
Procedure for online submission of statement of deduction of tax under sub-section (3) of section 200 and statement of collection of tax under proviso to sub-section (3) of section 206C of the Income-tax Act, 1961 read with rule 31A(5) and rule 31AA(5) of the Income-tax Rules, 1962 respectively
1. The provisions relating t...
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Category :
Income Tax |
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Enforcement action in respect of statutory auditors of commercial banks
Posted Date : 05-Jun-2019 , 09:32:13 am | Posted By: CASANSAAR
RBI vide itsPress Release dated June 29, 2018had put in place an enforcement action framework in respect of statutory auditors for the lapses in the statutory audit of commercial banks. In terms of the aforesaid enforcement action framework, on account of the lapses identified in a statutory audit assignment carried out by the firm, M/s S.R.Batliboi & Co. LLP, Chartered Accountants (ICAI Firm Registration Number: 301003E), it has been decided that RBI will not approve the said firm for c...
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RBI |
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ICAI Changes the name of 17 Regional Council Branches as per change in City Name
Posted Date : 04-Jun-2019 , 09:31:34 am | Posted By: CASANSAAR
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
NOTIFICATION
New Delhi, the 4th May, 2019
(CHARTERED ACCOUNTANTS)
No.1-CA.(7)/191/2019.—TheCouncil of the Institute of the Chartered Accountants of India at its meeting held on 25.03.2019 has approved to change the names of following Branches of Regional Councils of ICAI set up by the Council from time to time:—
S.No.
Old Name
New Name
1
Allahabad Branch of CIRC of ICAI
Pr...
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Students Zone |
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CBDT extended due date of filing TDS return Form 24Q for FY 2018-19 to 30.06.2019
Posted Date : 03-Jun-2019 , 08:37:09 pm | Posted By: CASANSAAR
F .No.275/38/2017 -IT(B)
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
North Block, New Delhi
3rd June 2019
ORDER UNDER SECTION 119 OF THE INCOME-TAX ACT. 1961
With a view to redress genuine hardship of deductors in timely filing of TDS statement in Form 24Q on account of revision of its formal and consequent updating of the File Validation Utility for its online filing, the Central Board of Direct Taxes, in exercise of its powers...
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Category :
Income Tax |
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Rationalisation of Branch Authorisation Policy- Revision of Guidelines
Posted Date : 01-Jun-2019 , 07:28:39 am | Posted By: CASANSAAR
RBI/2018-19/194
DBR.RRB.BL.BC.No.40/31.01.002/2018-19
May 31, 2019
The Chairman
All Regional Rural Banks
Madam/Dear Sir,
Rationalisation of Branch Authorisation Policy- Revision of Guidelines
Please refer to theMaster Circular DBR.CO.RRB.BL.BC.No.17/31.01.002/2015-16 dated July 01, 2015consolidating instructions/guidelines issued to Regional Rural Banks (RRBs) on Branch Licensing till June 30...
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RBI |
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