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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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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Seeks to prescribe the due dates for filing FORM GSTR-3B for the months of April to June, 2018
Posted Date : 24-Mar-2018 , 10:28:40 am | Posted By: Manya
Government of India
Ministry of Finance
(Department of Revenue)
Central Board of Excise and Customs
Notification No. 16 /2018 – Central Tax
New Delhi, the 23rd March, 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) (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 recom...
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GST |
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Notifies the date from which E-Way Bill Rules shall come into force
Posted Date : 24-Mar-2018 , 10:26:03 am | Posted By: Manya
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise and Customs
Notification No. 15/2018 – Central Tax
New Delhi, the 23rd March 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 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 ...
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GST |
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Amending the CGST Rules, 2017(Third Amendment Rules, 2018).
Posted Date : 24-Mar-2018 , 10:24:34 am | Posted By: Manya
Government of India
Ministry of Finance
(Department of Revenue)
Central Board of Excise and Customs
Notification No. 14/2018 – Central Tax
New Delhi, the 23rd March, 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 following
rules further to amend the Central Goods and Services Tax Rules, 2017, namely: -
1. (1) These rules may be called the Cen...
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GST |
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Implementation of UNSCR 2397 (2017), pertaining to Democratic People's Republic of Korea (DPRK)
Posted Date : 24-Mar-2018 , 10:21:09 am | Posted By: Manya
RBI/2017-18/143
DBR.AML.No.8528/14.06.056/2017-18
March 23, 2018
All Regulated Entities
Dear Sir/Madam,
Implementation of UNSCR 2397 (2017), pertaining to Democratic People's Republic of Korea (DPRK)
Please find enclosed a copy of the ‘Order’ issued by Ministry of External Affairs dated March 5, 2018, published in the Gazette of India on implementation of United Nations Security Council Resolutions 2397 (2017) on Democratic People’s Republic of Korea.
2. Regu...
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RBI |
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NFRA (Manner of Appointment and other Terms and Conditions of Service of Chairperson and Members) Rules, 2018
Posted Date : 21-Mar-2018 , 08:59:54 pm | Posted By: May I Help You.
Central Govt vide notification dated 21/03/2018 notified, The National Financial Reporting Authority (Manner of Appointment and other Terms and Conditions of Service of Chairperson and Members) Rules, 2018.
CLICK HERE FOR RULES...
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Companies Act |
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Reporting and Accounting of Central Government Transactions of March 2018
Posted Date : 19-Mar-2018 , 06:44:09 am | Posted By: Manya
RBI/2017-18/142
DGBA.GBD.No.2324/42.01.029/2017-18
March 19, 2018
All Agency Banks
Dear Sir / Madam,
Reporting and Accounting of Central Government Transactions of March 2018
Please refer to Circular DGBA.GAD.No. 2376/42.01.029/2016-17 dated March 16, 2017 advising the procedure to be followed for reporting and accounting of Central Government transactions (including CBDT, CBEC, departmentalised ministries and non-Civil Ministries) at the Receiving/Nodal/Focal Point branches of y...
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RBI |
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Submission of returns by the Government-owned Non-Banking Financial Companies - RBI
Posted Date : 15-Mar-2018 , 09:55:39 pm | Posted By: CASANSAAR
RBI/2017-18/141
DNBS.PD.CC.No.1925/66.08.001/2017-18
March 15, 2018
To
All Government-Owned Non-Banking Financial Companies (NBFCs)
Madam/ Sir,
Submission of returns by the
Government-owned Non-Banking Financial Companies
In exercise of the powers conferred by sections 45JA, 45K and 45L of the Reserve Bank of India Act, 1934 (hereinafter referred to as the RBI Act), it has been decided to apply theMaster Direction – Non-Banking Financial Company Returns (Reserve Bank) D...
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RBI |
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Agency commission payable to banks for operating Special Deposit Scheme (SDS)
Posted Date : 15-Mar-2018 , 09:54:51 pm | Posted By: CASANSAAR
RBI/2017-18/140
DGBA.GBD.2294/15.01.001/2017-18
March 15, 2018
All Agency Banks handling Special Deposit Scheme
Dear Sir,
Agency commission payable to banks for operating Special Deposit Scheme (SDS)
Please refer to para 2 of ourMaster Circular RBI/2017-18/2 dated July 1, 2017on Conduct of Government Business by Agency Banks- Payment of Agency Commission where in it is mentioned that SDS transactions undertaken by agency banks are eligible for agency commission.
2. In this...
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RBI |
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CBDT amends Income Tax Notification No. 49/2015 with retrospective effect
Posted Date : 15-Mar-2018 , 09:52:56 pm | Posted By: CASANSAAR
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 14/2018
New Delhi, the 13th March, 2018
G.S.R. 221(E).—In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby amends the notification of the Ministry of Finance (Department of Revenue), number S.O.1660 (E) dated the 22nd June, 2015, published in the Gazette of India, Extraordinary, Part-II, Secti...
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CBDT |
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GST - Processing of refund application for UIN entities
Posted Date : 14-Mar-2018 , 09:31:54 pm | Posted By: CASANSAAR
The GST Council, in its 23rd meeting held at Guwahati on 10th November 2017, has decided that the entities having Unique Identity Number (UIN) may be given centralized registration at the option of such entities. Further, it was also decided that the Central Government will be responsible for all administrative compliances in respect of such entities....
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