Reporting of Inter-State supplies to unregistered persons in Form GSTR 3B and Form GSTR 1
Posted Date : 19-Feb-2019 , 08:25:47 am | Posted By: CASANSAAR
A registered supplier is required to mention the details of inter -State supplies made to unregistered persons, composition taxable persons and UIN holders in Table 3.2 of FORM GSTR-3B. Further, the details of all inter-State supplies made to unregistered persons where the invoice value is up to Rs 2.5 lakhs (rate-wise) are required to be reported in Table 7B of FORM GSTR-1....
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GST |
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Investment by Foreign Portfolio Investors (FPI) in Debt
Posted Date : 16-Feb-2019 , 08:08:51 am | Posted By: CASANSAAR
RBI/2018-19/123
A.P. (DIR Series) Circular No. 19
February 15, 2019
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 Schedule 5 to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2017 notified videNotification No. FEMA.20(R)/2017-RB dated November 07, 2017, as amended from time to time and th...
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FEMA |
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Prevention of Money-laundering (Maintenance of Records) Amendment Rules, 2019
Posted Date : 14-Feb-2019 , 10:50:55 am | Posted By: CASANSAAR
MINISTRY OF FINANCE
(Department of Revenue)
NOTIFICATION
New Delhi, the 13th February, 2019
G.S.R. 108(E).—In exercise of the powers conferred by sub-section (1), read with clauses (i), (j), (jj),(jjj) and (k) of sub-section (2) of section 73 of the Prevention of Money-laundering Act, 2002 (15 of 2003),the Central Government hereby makes the following rules further to amend thePrevention of Money laundering (Maintenance of Records) Rules, 2005, namely:—
1. (1) These rule...
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Income Tax |
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ECB facility for Resolution Applicants under Corporate Insolvency Resolution Process
Posted Date : 08-Feb-2019 , 09:00:11 am | Posted By: CASANSAAR
RBI/2018-19/121
A.P. (DIR Series) Circular No. 18
February 07, 2019
To
All Category-I Authorised Dealer Banks
Madam / Sir,
External Commercial Borrowings (ECB) Policy – ECB facility for Resolution Applicants under Corporate Insolvency Resolution Process
Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to paragraph 1 of theStatement on Developmental and Regulatory Policiesof theSixth Bi-monthly Monetary Policy Statement for 2018-19 dated February 0...
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FEMA |
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Standing Liquidity Facility for Primary Dealers
Posted Date : 08-Feb-2019 , 08:58:59 am | Posted By: CASANSAAR
RBI/2018-19/119
REF. No. MPD.BC.385/07.01.279/2018-19
February 07, 2019
All Primary Dealers,
Standing Liquidity Facility for Primary Dealers
In theSixth Bi-monthly Monetary Policy Statement 2018-19 of the Monetary Policy Committee (MPC) of February 7, 2019, the repo rate under the Liquidity Adjustment Facility (LAF) has been reduced by 25 basis points to 6.25 per cent from 6.50 per cent with immediate effect.
2. Accordingly, the Standing Liquidity Facility provided to Primary Dea...
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RBI |
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Credit Flow to Agriculture- Collateral free agricultural loans
Posted Date : 07-Feb-2019 , 05:53:07 pm | Posted By: CASANSAAR
RBI/2018-19/118
FIDD.CO.FSD.BC.No.13/05.05.010/2018-19
February 7, 2019
The Chairman/Managing Director/Chief Executive Officer
All Scheduled Commercial Banks (including RRBs and SFBs)
Madam/Sir,
Credit Flow to Agriculture- Collateral free agricultural loans
Please refer to paragraph 13 of the Statement on Development and Regulatory Policies of the Sixth Bi-Monthly Monetary Policy Statement for 2018-19 released on February 7, 2019.
2. In this connection, please refer to our ci...
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RBI |
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Change in Bank Rate
Posted Date : 07-Feb-2019 , 05:51:59 pm | Posted By: CASANSAAR
RBI/2018-19/117
DBR.No.Ret.BC.23/12.01.001/2018-19
February 07, 2019
The Chairperson / CEOs of all Scheduled and Non Scheduled Banks
Dear Sir / Madam,
Change in Bank Rate
Please refer to our circular DBR.No.Ret.BC.03/12.01.001/2018-19 dated August 01, 2018 on the captioned subject.
2. As announced in the Sixth Bi-Monthly Monetary Policy Statement 2018-19 dated February 07, 2019, the Bank Rate stands adjusted by 25 basis points from 6.75 per cent to 6....
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RBI |
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Marginal Standing Facility
Posted Date : 07-Feb-2019 , 05:49:52 pm | Posted By: CASANSAAR
RBI/2018-2019/115
FMOD.MAOG. No.129 /01.18.001/2018-19
February 7, 2019
All Marginal Standing Facility (MSF) participants
Madam/Sir,
Marginal Standing Facility
As announced in the Sixth Bi-monthly Monetary Policy Statement, 2018-19, 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 6.50 per cent to 6.25 per cent with immediate effect.
2. Consequently, the Margin...
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RBI |
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Liquidity Adjustment Facility – Repo and Reverse Repo Rates
Posted Date : 07-Feb-2019 , 05:48:03 pm | Posted By: CASANSAAR
RBI/2018-2019/114
FMOD.MAOG.No.128/01.01.001/2018-19
February 7, 2019
All Liquidity Adjustment Facility (LAF) participants
Madam/Sir,
Liquidity Adjustment Facility – Repo and Reverse Repo Rates
As announced in the Sixth Bi-monthly Monetary Policy Statement, 2018-19, 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 6.5 per cent to 6.25 per cent with immediate...
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RBI |
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Kisan Credit Card (KCC) Scheme: Working Capital for Animal Husbandry and Fisheries
Posted Date : 04-Feb-2019 , 08:43:09 pm | Posted By: CASANSAAR
RBI/2018-19/112
FIDD.CO.FSD.BC.12/05.05.010/2018-19
February 04, 2019
The Chairman/Managing Director/Chief Executive Officer
All Scheduled Commercial Banks (including Small Finance Banks and excluding RRBs)
Madam/Sir,
Kisan Credit Card (KCC) Scheme: Working Capital for Animal Husbandry and Fisheries
Please refer to our Master Circular - Kisan Credit Card (KCC) Scheme issued videFIDD.CO.FSD.BC.No.6/05.05.010/2018-19 dated July 4, 2018. It has been decided to extend KCC facility t...
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RBI |
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GST (Compensation to States) Amendment Act, 2018 we.f. 01.02.2019
Posted Date : 30-Jan-2019 , 10:42:40 am | Posted By: CASANSAAR
G.S.R. …… (E). - In exercise of the powers conferred by sub-section (2) of section 1 of the Goods and Services Tax (Compensation to States) Amendment Act, 2018 (34 of 2018), the Central Government hereby appoints the 1st day of February, 2019 as the date on which the provisions of the Goods and Services Tax (Compensation to States) Amendment Act, 2018 (34 of 2018) shall come into force...
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GST |
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RCM under CGST on procurement from unregistered dealers withdrawn
Posted Date : 30-Jan-2019 , 10:31:32 am | Posted By: CASANSAAR
G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 11 of the Central Goods and Services Tax Act, 2017 (12 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 rescinds the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 8/2017-Central Tax (Rate), dated the 28th June, 2017, published in the Gazette of India, Extraordinary, v...
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GST |
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RCM under IGST on procurement from unregistered dealers withdrawn
Posted Date : 30-Jan-2019 , 10:29:31 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 rescinds the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 32/2017-Integrated Tax (Rate), dated the 13th October, 2017, published in the Gazette of India, Extraor...
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GST |
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RCM under UTGST on procurement from unregistered dealers withdrawn
Posted Date : 30-Jan-2019 , 10:27:50 am | Posted By: CASANSAAR
G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 8 of the Union Territory Goods and Services Tax Act, 2017 (14 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 rescinds the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 8/2017- Union Territory Tax (Rate), dated the 28th June, 2017, published in the Gazette of India, ...
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GST |
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UTGST (Amendment) Act, 2018 applicable ef 1st February 2019
Posted Date : 30-Jan-2019 , 10:26:41 am | Posted By: CASANSAAR
G.S.R. …… (E). - In exercise of the powers conferred by sub-section (2) of section 1 of the Union Territory Goods and Services Tax (Amendment) Act, 2018 (33 of 2018), the Central Government hereby appoints the 1st day of February, 2019 as the date on which the provisions of the Union Territory Goods and Services Tax (Amendment) Act, 2018 (33 of 2018) shall come into force....
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GST |
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IGST Registration provision amended to align special category States
Posted Date : 30-Jan-2019 , 10:20:50 am | Posted By: CASANSAAR
G.S.R…. (E).— In exercise of the powers conferred by section 20 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017) read with sub-section (2) of section 23 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. 10/2017-Integrated Tax, dated the 13th October, 2017, ...
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GST |
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GST Registration of Jewellery, goldsmiths & silversmiths
Posted Date : 30-Jan-2019 , 10:19:29 am | Posted By: CASANSAAR
G.S.R…. (E).— In exercise of the powers conferred by section 20 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017) read with sub-section (2) of section 23 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 amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.7/2017- Integrated Tax, dated the 14th September, 2017, ...
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GST |
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IGST (Amendment) Act, 2018 applicable wef 1st February 2019
Posted Date : 30-Jan-2019 , 10:18:07 am | Posted By: CASANSAAR
G.S.R. …..(E).— In exercise of the powers conferred by sub-section (2) of section 1 of the Integrated Goods and Services Tax (Amendment) Act, 2018 (32 of 2018), the Central Government hereby appoints the 1st day of February, 2019 as the date on which the provisions of the Integrated Goods and Services Tax (Amendment) Act, 2018 (32 of 2018) shall come into force....
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GST |
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CGST Registration provision amended to align Special Category States
Posted Date : 30-Jan-2019 , 10:16:04 am | Posted By: CASANSAAR
G.S.R. (E).— In exercise of the powers conferred by sub-section (2) of section 23 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. 65/2017-Central Tax, dated the 15th November, 2017, published in the Gazette of India, Extraordinary, vide number G.S.R. 1421 (E), dated the 15th N...
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GST |
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CBIC aligns rates for Composition Scheme with CGST Rules 2017
Posted Date : 30-Jan-2019 , 10:15:01 am | Posted By: CASANSAAR
G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 10 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.8/2017 - Central Tax, dated the 27th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide numbe...
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GST |
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CBIC defines jurisdiction of Jt Commissioner (Appeals) under GST
Posted Date : 30-Jan-2019 , 10:13:34 am | Posted By: CASANSAAR
G.S.R (E).- In exercise of the powers under section 3 read with section 5 of the Central Goods and Services Tax Act, 2017 (12 of 2017) and section 3 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central Board of Indirect Taxes and Customs, 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- Central Tax, dated the 19th June, 2017, published in the Gazette of India, Extraor...
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GST |
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Central Goods and Services Tax (Amendment) Rules 2019
Posted Date : 30-Jan-2019 , 10:12:07 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 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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CGST (Amendment) Act, 2018 applicable wef 1st February, 2019
Posted Date : 30-Jan-2019 , 10:06:55 am | Posted By: CASANSAAR
G.S.R. …..(E).— In exercise of the powers conferred by sub-section (2) of section 1 of the Central Goods and Services Tax (Amendment) Act, 2018 (31 of 2018), the Central Government hereby appoints the 1st day of February, 2019, as the date on which the provisions of the Central Goods and Services Tax (Amendment) Act, 2018 (31 of 2018), except clause (b) of section 8, section 17, section 18, clause (a) of section 20, sub-clause (i) of clause (b) and sub-clause (i) of clause (c) of se...
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GST |
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External Commercial Borrowings (ECB) Policy – New ECB Framework
Posted Date : 17-Jan-2019 , 09:14:12 am | Posted By: CASANSAAR
RBI/2018-19/109
A.P. (DIR Series) Circular No. 17
January 16, 2019
To
All Category-I Authorised Dealer Banks
Madam / Sir,
External Commercial Borrowings (ECB) Policy – New ECB Framework
Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to paragraph 7 of theStatement on Developmental and Regulatory Policiesof theFifth Bi-monthly Monetary Policy Statement for 2018-19 released on December 5, 2018. Reference is also invited to paragraphs 2 and 3 ofMa...
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Category :
FEMA |
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Notification Regarding Advance Authorisation by CA to avail Input Tax Credit
Posted Date : 17-Jan-2019 , 09:11:57 am | Posted By: CASANSAAR
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(Department of Revenue)
[CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS]
Notification No. 1/2019-Central Tax
New Delhi, the 15th January, 2019
G.S.R. (E).- In exercise of the powers conferred by section 147 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 amendment in the notification of the Government of India in the Ministry of Finance, Dep...
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Category :
GST |
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Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit
Posted Date : 11-Jan-2019 , 10:45:03 pm | Posted By: CASANSAAR
RBI/2018-19/107
DBR.Dir.BC.No.22/04.02.001/2018-19
January 11, 2019
All Scheduled Commercial Banks (excluding RRBs)
Small Finance Banks and
Primary (Urban) Cooperative Banks
Dear Sir / Madam,
Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit
Please refer to the operational instructions for the captioned scheme contained in RBI circular on Interest Equalisation S...
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Category :
RBI |
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Basel III Capital Regulations- Review of transitional arrangements
Posted Date : 10-Jan-2019 , 08:48:33 pm | Posted By: CASANSAAR
RBI/2018-19/106
DBR.BP.BC.No.20/21.06.201/2018-19
January 10, 2019
All Scheduled Commercial Banks
(Excluding RRBs and LABs)
Dear Sir/Madam,
Basel III Capital Regulations- Review of transitional arrangements
Please refer to para 4.5 ‘Transitional Arrangements’, para 15.2.2 of Part D ‘Capital Conservation Buffer Framework’ and para 2.3 of Annex 16 of theMaster Circular, DBR.No.BP.BC.1/21.06.201/2015-16 dated July 1, 2015on ‘Basel III Capital Regulatio...
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Category :
RBI |
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Gold Monetization Scheme, 2015
Posted Date : 10-Jan-2019 , 09:08:27 am | Posted By: CASANSAAR
RBI/2018-19/104
DBR.IBD.BC.19/23.67.001/2018-19
January 9, 2019
All Scheduled Commercial Banks (excluding RRBs)
Dear Sir/Madam
Gold Monetization Scheme, 2015
In exercise of the powers conferred on the Reserve Bank of India under Section 35A of the Banking Regulation Act, 1949, the RBI makes the following amendments in theReserve Bank of India (Gold Monetization Scheme, 2015)Master Direction No.DBR.IBD.No.45/23.67.003/2015-16 dated October 22, 2015, with immediate effect.
1. Th...
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RBI |
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Tokenisation – Card transactions
Posted Date : 09-Jan-2019 , 08:00:57 am | Posted By: CASANSAAR
RBI/2018-19/103
DPSS.CO.PD No.1463/02.14.003/2018-19
January 08, 2019
The Chief Executive Officer / President
All authorised card payment networks
Madam / Dear Sir,
Tokenisation – Card transactions
Continuing the efforts to improve safety and security of card transactions, Reserve Bank of India had permitted card networks for tokenisation in card transactions for a specific use case.
2. It has now been decided to permit authorised card payment networks to offer card tok...
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Category :
RBI |
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Clarification regarding section 140(1) of the CGST Act, 2017
Posted Date : 03-Jan-2019 , 09:15:03 pm | Posted By: CASANSAAR
Attention is invited to sub-section (a) of section 28 of the CGST (Amendment) Act, 2018 (No. 31 of 2018) which provides that section 140(1) of the CGST Act, 2017 be amended with retrospective effect to allow transition of CENVAT credit under the existing law viz. Central Excise and Service Tax law, only in respect of “eligible duties”. In this regard, doubts have been expressed as to whether the expression “eligible duties” would include CENVAT credit of Service Tax withi...
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Category :
GST |
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