Liquidity Adjustment Facility: Fixed Rate Reverse Repo Operations
Posted Date : 10-Apr-2018 , 11:26:28 am | Posted By: Manya
The result of the RBI Fixed Rate Reverse Repo Operations held on April 09, 2018 is as under:...
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RBI |
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Transport allowance of Rs.1,600 pm withdrawn by CBDT
Posted Date : 10-Apr-2018 , 07:58:23 am | Posted By: CASANSAAR
S.O. 1517(E).—In exercise of the powers conferred by section 295, read with sub-clause (ii) of clause (14) of section 10 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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Storage of Payment System Data
Posted Date : 07-Apr-2018 , 10:20:00 am | Posted By: Manya
RBI/2017-18/153
DPSS.CO.OD No.2785/06.08.005/2017-2018
6 April 2018
The Chairman and Managing Director / Chief Executive Officers,
Authorised Payment Systems /
All Scheduled Commercial Banks including RRBs /
Urban Co-operative Banks / State Co-operative Banks /
District Central Co-operative Banks /Payment Banks / Small Finance Banks and Local Area Banks
Madam / Sir,
Storage of Payment System Data
Please refer to paragraph 4 of the Statement on Development and Regulatory Polic...
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RBI |
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Action Points for Lead Banks on Enhancing the Effectiveness of Lead District Managers (LDMs)
Posted Date : 07-Apr-2018 , 10:13:53 am | Posted By: Manya
RBI/2017-2018/156
FIDD.CO.LBS.BC.No.20/02.01.001/2017-18
April 6, 2018
The Chairmen/Managing Directors/Chief Executive Officers
All Lead Banks
Madam/ Dear Sir,
Action Points for Lead Banks on Enhancing the Effectiveness of Lead District Managers (LDMs)
As you are aware, the Lead Bank Scheme was last reviewed by the “High Level Committee” under Smt Usha Thorat, then Deputy Governor of Reserve Bank of India, as the Chairperson in 2009. In view of changes that have take...
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RBI |
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Revamp of Lead Bank Scheme - Action Points for SLBC Convenor Banks/ Lead Banks
Posted Date : 07-Apr-2018 , 10:12:27 am | Posted By: Manya
RBI/2017-2018/155
FIDD.CO.LBS.BC.No.19/02.01.001/2017-18
April 6, 2018
The Chairmen/Managing Directors/Chief Executive Officers
All SLBC Convenor Banks/ Lead Banks
Madam/Dear Sir,
Revamp of Lead Bank Scheme - Action Points for SLBC Convenor Banks/ Lead Banks
As you are aware, the Lead Bank Scheme (LBS) was last reviewed by the “High Level Committee” under Smt Usha Thorat, then Deputy Governor of Reserve Bank of India as the Chairperson in 2009. In view of changes tha...
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RBI |
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Cash Management activities of the banks Standards for engaging the Service Provider and its sub-contractor
Posted Date : 07-Apr-2018 , 10:09:00 am | Posted By: Manya
RBI/2017-18/152
DCM (Plg) No.3563/10.25.07/2017-18
April 06, 2018
The Chairman / Managing Director / Chief Executive Officer,
Public Sector Banks / Private Sector Banks / Foreign Banks /
Regional Rural Banks / Primary (Urban) Co-operative Banks /
State Co-operative Banks / District Central Co-operative Banks.
Madam / Dear Sir,
Cash Management activities of the banks
Standards for engaging the Service Provider and its sub-contractor
It was announced vide para 11 of the Stateme...
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RBI |
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Prohibition on dealing in Virtual Currencies (VCs)
Posted Date : 07-Apr-2018 , 10:03:26 am | Posted By: Manya
RBI/2017-18/154
DBR.No.BP.BC.104 /08.13.102/2017-18
April 6, 2018
All Commercial and Co-operative Banks /Payments Banks/Small Finance Banks /
NBFCs / Payment System Providers
Madam / Dear Sir,
Prohibition on dealing in Virtual Currencies (VCs)
Reserve Bank has repeatedly through its public notices on December 24, 2013, February 01, 2017 and December 05, 2017, cautioned users, holders and traders of virtual currencies, including Bitcoins, regarding various risks associated in dea...
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RBI |
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Comprehensive Guidelines on Derivatives: Modifications
Posted Date : 07-Apr-2018 , 10:02:13 am | Posted By: Manya
RBI/2017-18/151
DBR.No.BP.BC.103/21.04.157/2017-18
April 6, 2018
The Chairman and Managing Directors/ Chief Executive Officers of
All Scheduled Commercial Banks (excluding RRBs and LABs),
All India Term-Lending & Refinancing Institutions &
Primary Dealers
Dear Sir,
Comprehensive Guidelines on Derivatives: Modifications
Please refer to para 8.3 of the circular DBOD No.BP.BC.44/21.04.157/2011-12 dated November 2, 2011, in terms of which ‘user suitability and approp...
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RBI |
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Investment by Foreign Portfolio Investors (FPI) in Government Securities -
Posted Date : 07-Apr-2018 , 10:00:42 am | Posted By: Manya
RBI/2017-18/150
A.P.(DIR Series) Circular No. 22
April 06, 2018
To
All Authorized Persons
Madam / Sir
Investment by Foreign Portfolio Investors (FPI) in Government Securities -
Medium Term Framework – Review
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, 2000 notified vide Notification No. FEMA.20/2000-RB dated May ...
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RBI |
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Clarification on issues related to furnishing of Bond/Letter of Undertaking for exports
Posted Date : 07-Apr-2018 , 08:48:32 am | Posted By: CASANSAAR
Various communications have been received from the field formations and exporters that the LUTs being submitted online in FORM GST RFD-11 on the common portal are not visible to the jurisdictional officers of Central Board of Indirect Taxes and Customs and of a few States. Therefore, a need was felt for a clarification regarding the acceptance of LUTs being submitted online in FORM GST RFD-11...
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GST |
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RBI defers implementation of Ind AS for banks by one year
Posted Date : 06-Apr-2018 , 09:49:33 am | Posted By: CASANSAAR
This Statement sets out various developmental and regulatory policy measures for strengthening regulation and supervision; broadening and deepening financial markets; improving currency management; promoting financial inclusion and literacy; and, facilitating data management.
I. Regulation and Supervision
1. Mandatory Loan Component in Working Capital Finance
With a view to promoting greater credit discipline among working capital borrowers, it is proposed to stipulate a minimum level o...
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RBI |
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CBDT Releases ITR 1 to ITR 7 for Financial Year 2017-18
Posted Date : 06-Apr-2018 , 09:16:02 am | Posted By: CASANSAAR
G.S.R. 332 (E).– In exercise of the powers conferred by section 139 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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Setting up of an IT Grievance Redressal Mechanism to address the grievances of taxpayers due to technical glitches on GST Portal-reg.
Posted Date : 04-Apr-2018 , 10:26:36 am | Posted By: Manya
Circular No. 39/13/2018-GST
F. No. 267/7/2018-CX.8
Government of India
Ministry of Finance
Department of Revenue
Central Board of Indirect Taxes and Customs
New Delhi, dated the 3
rd April, 2018
To
The Principal Chief Commissioners/ Chief Commissioners/ Principal Commissioners/
Commissioner of Central Tax (All),
The Principal Director Generals/ Director Generals (All).
...
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GST |
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Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by Banks – Spreading of MTM losses and creation of Investment Fluctuation Reserve (IFR)
Posted Date : 02-Apr-2018 , 05:11:52 pm | Posted By: Manya
RBI/2017-18/147
DBR.No.BP.BC.102/21.04.141/2017-18
April 2, 2018
All Scheduled Commercial Banks
(Excluding Regional Rural Banks),
Small Finance Banks
Dear Sir/Madam,
Prudential Norms for Classification, Valuation and Operation of Investment
Portfolio by Banks – Spreading of MTM losses and creation of Investment
Fluctuation Reserve (IFR)
Please refer to Master Circular DBR.No.BP.BC.6/21.04.141/2015-16 dated July 1, 2015 on the captioned subject. Banks are required to mar...
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RBI |
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Relaxation of additional fees and extension of last date of filing of AOC-4 XBRL E-Forms
Posted Date : 31-Mar-2018 , 09:14:04 am | Posted By: CASANSAAR
General Circular No.01/2018 regarding Relaxation of additional fees and extension of last date of filing of AOC-4 XBRL E-Forms using Ind AS under the Companies Act, 2013...
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Companies Act |
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Condonation of Delay Scheme 2018 extended upto 30th April 2018
Posted Date : 31-Mar-2018 , 09:11:38 am | Posted By: CASANSAAR
In continuation to the Ministry's General Circular No. 16/2Ol7 dated 29/12/2017 on the subject cited above, this Ministry has, on consideration of requests received from various stakeholders, has decided to extend the Condonation of Delay Scheme, 2018 upto 30th April, 2018....
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Companies Act |
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President assents Finance Act, 2018 (Applicable for FY 2018-19)
Posted Date : 31-Mar-2018 , 09:08:39 am | Posted By: CASANSAAR
The following Act of Parliament received the assent of the President on the 29th March, 2018, and is hereby published for general information:—
THE FINANCE ACT, 2018, NO. 13 OF 2018...
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Income Tax |
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Extension of due date to file GST refund application U/s. 55 by notified agencies
Posted Date : 29-Mar-2018 , 10:02:54 am | Posted By: CASANSAAR
G.S.R....(E).- Whereas, as per section 55 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act), the Government may, on the recommendations of the Council, by notification, specify any specialised agency of the United Nations Organisation or any Multilateral Financial Institution and Organisation notified under the United Nations (Privileges and Immunities) Act, 1947 (46 of 1947), Consulate or Embassy of foreign countries and an...
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GST |
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Due date to filie return in FORM GSTR-6 extended to 31st day of May, 2018
Posted Date : 29-Mar-2018 , 10:00:21 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 supersession of notification No. 08/2018-Central Tax, dated the 23rd January, 2018, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 57 (E), dated the 23rd January, 2018, except as respects things done or omitted to be done bef...
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GST |
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Form GSTR-1 due date for the months of April to June, 2018 notified
Posted Date : 29-Mar-2018 , 09:58:48 am | Posted By: CASANSAAR
G.S.R……(E). - In exercise of the powers conferred by the second proviso to subsection (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 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 under sub-section (1) of section 37 of the Act for the months as specified in column (2) of t...
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GST |
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CBEC notifies due date of Form GSTR-1 for the quarter April to June, 2018
Posted Date : 29-Mar-2018 , 09:57:57 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 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 m...
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GST |
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Extension of date for submitting the statement in FORM GST TRAN-2 to 30th June 2018
Posted Date : 28-Mar-2018 , 09:56:38 pm | Posted By: CASANSAAR
In exercise of the powers conferred by sub-clause (iii) of clause (b) of sub-rule (4) of rule 117 of the Central Goods and Services Tax Rules, 2017 read with section 168 of the Central Goods and Services Tax Act, 2017, the Commissioner, on the recommendations of the Council, hereby extends the period for furnishing the statement in FORM GST TRAN-2 under sub-clause (iii) of clause (b) of sub-rule (4) of rule 117 of the Central Goods and Services Tax Rules, 2017 till the 30th day of June, 2018....
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GST |
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GST - Clarifications on issues related to Job Work
Posted Date : 28-Mar-2018 , 09:54:00 pm | Posted By: CASANSAAR
Various representations have been received regarding the procedures to be followed for sending goods for job work and the related compliance requirements for the principal and the job worker. In view of the difficulties being faced by the taxpayers and to ensure uniformity in the implementation of the provisions of the law across the field formations, the Board, in exercise of its powers conferred under section 168 (1) of the Central Goods and Services Tax Act, 2017, (hereinafter referred to as ...
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GST |
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Special Clearing operations on March 31, 2018
Posted Date : 28-Mar-2018 , 06:16:30 pm | Posted By: Manya
RBI/2017-18/145
DPSS.CO.CHD.No./2707/03.01.03/2017-18
March 28, 2018
The Chairman and Managing Director / Chief Executive Officer
All Scheduled Commercial Banks including Regional Rural Banks/
Urban Co-operative Banks / State Co-operative Banks /
District Central Co-operative Banks/Local Area Banks
Madam / Dear Sir,...
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RBI |
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Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2017-18)
Posted Date : 27-Mar-2018 , 05:05:19 pm | Posted By: Manya
RBI/2017-18/144
DGBA.GBD.No.2388/42.01.029/2017-18
March 27, 2018
All agency banks
Dear Sir / Madam
Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2017-18)
The Government of India has desired that all government transactions with banks for Financial Year 2017-18 must be accounted for within the same financial year and has requested that, as in previous years, certain special arrang...
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RBI |
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Reverse charge mechanism u/s 5(4) of IGST Act suspended till 30.06.2018
Posted Date : 26-Mar-2018 , 08:27:39 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 makes the following amendment in 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 th...
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GST |
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Reverse charge mechanism u/s 7(4) suspended till 30.06.2018
Posted Date : 26-Mar-2018 , 08:25:01 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 makes the following further amendment in 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 i...
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GST |
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Central Goods and Services Tax (Third Amendment) Rules, 2018
Posted Date : 26-Mar-2018 , 08:22:15 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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CBEC notifies applicability of E-Way Bill Rules wef 1st April 2018
Posted Date : 26-Mar-2018 , 08:20:58 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 appoints the 1st day of April, 2018, as the date from which the provisions of sub-rules (ii) [other than clause (7)], (iii), (iv), (v), (vi) and (vii) of rule 2 of notification No. 12/2018 – Central Tax, dated the 7th March, 2018, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide...
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GST |
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CBEC notifies Due dates for filing FORM GSTR-3B for April to June, 2018
Posted Date : 26-Mar-2018 , 08:20:05 am | 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) (hereafter in this notification referred to as the Act) read with sub-rule (5) of rule 61 of the Central Goods and Services Tax Rules, 2017, the Commissioner, on the recommendations of the Council, hereby specifies that the return in FORM GSTR-3B for the month as specified in column (2) of the Table below shall be furnished electronically through the common ...
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GST |
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