[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs Notification No. 25/2018 – Central Tax New Delhi, the 31st May, 2018 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...

Continue Reading...

Category : GST | Comments : 0 | Hits : 978

RBI/2017-18/181 DNBR (PD) CC.No.092/03.10.001/2017-18 May 31, 2018 All Government NBFCs Madam/ Sir, Withdrawal of Exemptions Granted to Government Owned NBFCs Government owned companies, as defined under Clause (45) of Section 2 of the Companies Act, 2013 (Section 617 of the Companies Act, 1956) and registered with the Reserve Bank of India as NBFCs, are currently exempt from following regulatory and statutory provisions: (i) Sections 45-IB and 45-IC of the RBI Act, 1934. (...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1505

Enrolment as Valuer Member by Registered Valuers Organisation and Registration as Registered Valuer by the Authority...

Continue Reading...

Category : Corporate Laws | Comments : 0 | Hits : 1498

Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs Notification No. 24 /2018 – Central Tax New Delhi, the 28th May, 2018 G.S.R. … (E).- In exercise of the powers conferred by section 48 of the Central Goods and Services Tax Act, 2017 (12 of 2017) read with sub-rule (3) of rule 83 of the Central Goods and Services Tax Rules, 2017, the Commissioner, on the recommendations of the Council, hereby notifies the N...

Continue Reading...

Category : GST | Comments : 0 | Hits : 1265

GOVERNMENT OF PUNJAB DEPARTMENT OF EXCISE & TAXATION PUBLIC NOTICE KIND ATTENTION: DEALERS/CHARTERED ACCOUNTANTS/LAWYERS/OTHER STAKEHOLDERS 1. Generation of e-Way Bill for intra-state movement of goods in the State of Punjab was postponed for a period of two months from 01-04-­2018 vide Notification No. PA/ETC/2018/63 dated 29-03-2018. 2. It may kindly be noted that e-Way Bill Portal is now available for generation of e-Way Bills for intra-state movement of goods in the St...

Continue Reading...

Category : GST | Comments : 0 | Hits : 1307

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs Notification No. 23/2018 – Central Tax New Delhi, the 18th May, 2018 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 Ru...

Continue Reading...

Category : GST | Comments : 0 | Hits : 1262

RBI/2017-18/178 DBR.BP.BC.No.106/21.04.098/2017-18 May 17, 2018 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Basel III Framework on Liquidity Standards – Net Stable Funding Ratio (NSFR) – Final Guidelines The Net Stable Funding Ratio (NSFR) and Liquidity Coverage Ratio (LCR) are significant components of the Basel III reforms. The LCR guidelines which promote short term resilience of a bank’s liquidity profile have been issued vide circular ...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1254

Setting up of IFSC Banking Units (IBUs) – Permissible activities RBI/2017-18/177 DBR.IBD.BC. 105/23.13.004/2017-18 May 17, 2018 All Scheduled Commercial Banks (excluding Regional Rural Banks) Dear Sir/Madam Setting up of IFSC Banking Units (IBUs) – Permissible activities Please refer to RBI circular 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. In terms ...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 4477

Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs Notification No. 22/2018 – Central Tax New Delhi, the 14th May, 2018 G.S.R. 450(E).– In exercise of the powers conferred by section 128 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby waives the late fee payable under section 47 of the said Act for failure to furnish the re...

Continue Reading...

Category : GST | Comments : 0 | Hits : 1850

RBI/2017-18/175 DCBR.BPD (PCB).Cir.No.07/09.09.002/2017-18 May 10, 2018 The Chief Executive Officer All Primary (Urban) Co-operative Banks Dear Sir / Madam Revised guidelines on lending to Priority Sector for Primary (Urban) Co-operative Banks (UCBs) Please refer to our circular UBD.CO.BPD.(PCB).MC.No.18/09.09.001/2013-14 dated October 8, 2013 on the captioned subject and amendments thereto from time to time, consolidated in Master Circular DCBR.BPD.(PCB).MC.No:11/09.09.001/2015...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1448

RBI/2017-18/173 A.P. (DIR Series) Circular No. 28 May 03, 2018 To All Category - I Authorised Dealer Banks Madam/ Sir Data Sharing with Directorate of Revenue Intelligence Attention of Authorised Dealer Category I (AD Category I) banks is invited to provisions contained in Sections 108 A and 108 B of the Customs Act, 1962 and the Rules notified thereunder vide GSR 1512 (E) Notification No. 114/2017-Customs (N.T) dated December 14, 2017. All AD Category I banks are advised to e...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1637

RBI/2017-18/171 IDMD.GBD.2783/08.08.016/2018-19 May 3, 2018 All Market Participants Dear Sir/Madam, Guidelines on Stripping/Reconstitution of Government Securities Please refer to paragraph 7 of the Statement on Regulatory and Developmental Policies announced on April 5, 2018 regarding review of the mechanism of the Separate Trading of Registered Interest and Principal of Securities (STRIPS) which was introduced w.e.f. April 1, 2010. 2. With a view to meeting the diverse needs...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1401

Circular No.44/18/2018-CGST F. No. 341/28/2017-TRU Government of India Ministry of Finance Department of Revenue Tax Research Unit ***** New Delhi, the 2nd May, 2018 To, The Principal Chief Commissioner/Chief Commissioners/ Principal Commissioner/ Commissioner of Central Tax (All) / The Principal Director Generals/ Director Generals (All) Madam/Sir, Subject: Issue related to taxability of ‘tenancy rights’ under GST- regarding Doubts have been raised as to,- (i) Whether...

Continue Reading...

Category : GST | Comments : 0 | Hits : 1480

RBI/2017-18/170 A.P. (DIR Series) Circular No. 26 May 1, 2018 To All Authorized Persons Madam / Sir Investment by Foreign Portfolio Investors (FPI) in Debt - 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 videNotification No. FEMA.20/2000-RB dated May 3, 2000,as amended from time to time and the releva...

Continue Reading...

Category : FEMA | Comments : 0 | Hits : 1539

In continuation of this Ministry’s General Circular No. 13/2017 dated 26.10.2017, General Circular No. 01/2018 dated 28.03.2018 and upon consideration of requests received from various stakeholders for extending the last date of filing of AOC-4 XBRL E-Forms using Ind AS under the Companies Act, 2013, it has been decided to extend the last date for filing of AOC-4 XBRL for all eligible companies required to prepare or voluntarily prepare their financial statements in accordance with Compani...

Continue Reading...

Category : Companies Act | Comments : 0 | Hits : 1439

Punjab Government imposes profession tax of Rs. 200 Per Month on All such persons who are assessable under the Head Income from Salaries and/ or Wages as per the Income Tax Act, 1961 and All such persons who are assessable under the Head Income from Business and/ or Profession as per the Income Tax Act, 1961....

Continue Reading...

Category : Corporate Laws | Comments : 0 | Hits : 2178

The Insolvency and Bankruptcy Code, 2016 (Code) is a modern economic legislation. Section 240 of the Code empowers the Insolvency and Bankruptcy Board of India (IBBI) to make regulations subject to the conditions that the regulations: (a) carry out the provisions of the Code, (b) are consistent with the Code and the rules made thereunder; (c) are made by a notification published in the Official Gazette; and (d) are laid, as soon as possible, before each House of Parliament for 30 days....

Continue Reading...

Category : Corporate Laws | Comments : 0 | Hits : 1163

RBI/2017-18/169 A.P. (DIR Series) Circular No.25 April 27, 2018 To All Category-I Authorised Dealer Banks Madam / Sir, External Commercial Borrowings (ECB) Policy – Rationalisation and Liberalisation Attention of Authorized Dealer Category-I (AD Category-I) banks is invited toMaster Direction No.5 dated January 1, 2016on External Commercial Borrowings, Trade Credit, Borrowing and Lending in Foreign Currency by Authorised Dealers and Persons other than Authorised Dealers,...

Continue Reading...

Category : FEMA | Comments : 0 | Hits : 1420

RBI/2017-18/168 A.P. (DIR Series) Circular No. 24 April 27, 2018 To All Authorized Persons Madam / Sir Investment by Foreign Portfolio Investors (FPI) in Debt - 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 videNotification No. FEMA.20/2000-RB dated May 3, 2000, as amended from time to time and the re...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1314

In continuation to the Ministry's General Circular No. 16/2017 dated 29/12/2017 and General Circular No. 02/2018 dated 28.03.2018 on the subject cited above and to state that the closing date of the scheme viz. 30.04.2018 is falling under gazetted holiday on account of 'Budh Purnima', therefore, this Ministry has decided to give one day extension of the said scheme i.e. up to 01.05.2018....

Continue Reading...

Category : Corporate Laws | Comments : 0 | Hits : 1702

The Disciplinary Committee of the Insolvency and Bankruptcy Board of India had issued an ex-parte interim order dated 8th March, 2018 against Mr. Mukesh Mohan, Insolvency Professional [Regn. No. IBBI/IPA-001/IP-P00018/2016-2017/10042] pending completion of inspection. A copy of ex-parte interim order is annexed to this order....

Continue Reading...

Category : Corporate Laws | Comments : 0 | Hits : 1649

In terms of the IBBI (Insolvency Professionals) Regulations, 2016, an individual is eligible for registration as an insolvency professional, subject to meeting other requirements, if he has completed a pre-registration educational course, as may be required by the Board, from an insolvency professional agency (IPA) after his enrolment as a professional member. The pre-registration educational course shall be delivered by the IPAs in not less than 50 hours either in class room sessions or in M...

Continue Reading...

Category : Corporate Laws | Comments : 0 | Hits : 1871

RBI/DBR/2015-16/18 Master Direction DBR.AML.BC.No.81/14.01.001/2015-16 February 25, 2016 (Updated as on April 20, 2018) Master Direction - Know Your Customer (KYC) Direction, 2016 In terms of the provisions of Prevention of Money-Laundering Act, 2002 and the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005, Regulated Entities (REs) are required to follow certain customer identification procedures while undertaking a transaction either by establishing an account based r...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1423

Format of ANNUAL COMPLIANCE CERTIFICATE(Annexure A) to be submitted by the IPAs to the IBBI and to be displayed on its website within 45 days of the closure of the financial year....

Continue Reading...

Category : Corporate Laws | Comments : 0 | Hits : 1321

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:-...

Continue Reading...

Category : GST | Comments : 0 | Hits : 1425

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs Notification No. 21/2018 – Central Tax New Delhi, the 18th April, 2018 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 follow...

Continue Reading...

Category : GST | Comments : 0 | Hits : 1083

RBI/2017-18/164 IDMD.CDD.No.2652/14.04.050/2017-18 April 13 2018 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 2018-19 Series-I, Operational Guidelines This has reference to the GoI notification F.No.4(8)-W&M/2018 and RBI circular IDMD.CDD.No.2651/14....

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1345

RBI/2017-18/163 IDMD.CDD.No.2651/14.04.050/2017-18 April 13, 2018 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 2018-19 Series I Government of India has vide its Notification F.No.4(8)-W&M/2018 dated April 13, 2018 announced that the Sovereign Gold ...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1191

RBI/2017-18/162 DCM (Plg.) No. 3641/10.25.007/2017-18 April 12, 2018 The Chairman and Managing Director/ Chief Executive Officer All Banks Dear Sir, Cassette - Swaps in ATMs As stated in para 15 of the monetary policy statement dated October 04, 2016, the Bank had constituted a Committee on Currency Movement (CCM) [Chair: Shri D.K. Mohanty, Executive Director] to review the entire gamut of security of the treasure in transit. The recommendations of the Committee have been exami...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1363

RBI/2017-18/161 A.P. (DIR Series) Circular No. 23 April 12, 2018 To All Category - I Authorised Dealer Banks Madam / Sir Liberalised Remittance Scheme (LRS) for Resident Individuals – daily reporting of transactions Please refer to the announcement made in para 10 of Part II of the First Bi Monthly Monetary Policy Statement 2018-19 dated April 05, 2018. 2. Currently, transactions under Liberalised Remittance Scheme (LRS) are being permitted by AD banks based on the de...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 1425