Service tax return due date for period april 2017 to june 2017 is 15th August 2017,Notification No- ST-18/2017 dt 22.06.2017 Finance Ministry notifies filing of Service Tax Returns in Form ST-3 / ST-3C for the period April – June 2017 byAugust 15; Revised Return for said period shall be submitted within a period of 45 days from date of submission of return under Rule 7 of Service Tax Rules. ...

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Category : Service Tax | Comments : 0 | Hits : 2881

MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 20th June, 2017 G.S.R. 611(E).-In exercise of the powers conferred by sub-section (1) of Section 11 of the Specified Bank Notes (Cessation of Liabilities) Act, 2017 ( 2 of 2017), the Central Government hereby makes the following rules, namely:- 1. Short title and commencement.- (1) These rules may be called the Specified Bank Notes (Deposit by Banks, Post Offices and District Central Cooperative ...

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Category : RBI | Comments : 0 | Hits : 1035

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, namely:- Chapter I PRELIMINARY 1. Short title, Extent and Commencement.- (1) These rules may be called the Central Goods and Services Tax Rules, 2017. (2) They shall come into force with effect from 22nd June, 2017....

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Category : GST | Comments : 0 | Hits : 1405

GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF EXCISE AND CUSTOMS Notification No. 6/2017 — Central Tax New Delhi, the 19th June, 2017 G.S.R. (E).- In exercise of the powers conferred by sub-rule (1) of rule 26 of the Central Goods and Services Tax Rules, 2017 (hereinafter referred to as the said Rules), the Central Board of Excise and Customs hereby notifies the following modes of verification, for the purpose of the said rule, namely:‑ (...

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GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF EXCISE AND CUSTOMS Notification No. 5/2017 — Central Tax New Delhi, the 19th June, 2017 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 hereby specifies the persons who are only engaged in making supplies of taxable goods or services or both, the total tax on which is li...

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Category : GST | Comments : 0 | Hits : 2173

GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF EXCISE AND CUSTOMS Notification No. 4/2017–Central Tax New Delhi, the 19th June, 2017 G.S.R…. (E).- In exercise of the powers conferred by section 146 of the Central Goods and Services Tax Act, 2017 (12 of 2017) read with section 20 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central Government hereby notifies www.gst.gov.in as the Common Goods and Services T...

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GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF EXCISE AND CUSTOMS Notification No. 2/2017 – Integrated Tax New Delhi, the 19th June, 2017 G.S.R . (E). – In exercise of the powers conferred by sub-section (2) of section 14 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017) (hereinafter referred to as the said Act), read with sub-rule (2) of rule 14 of the Central Goods and Services Tax Rules, 2017, the Central Govern...

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Category : GST | Comments : 0 | Hits : 1647

GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF EXCISE AND CUSTOMS Notification No. 1/2017 – Integrated Tax New Delhi, the 19th June, 2017 G.S.R. …..(E).— In exercise of the powers conferred by sub-section (3) of section 1 of the CentralGoods and Services Tax Act, 2017 (13 of 2017), the Central Government hereby appoints the 22nd day of June, 2017, as the date on which the provisions of sections 1, 2, 3, 14, 20 and 22 of t...

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In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944) and section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the CENVAT Credit Rules, 2004, namely:- 1. (1) These rules may be called the CENVAT Credit (Third Amendment) Rules, 2017. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the CENVAT Credit Rules, 2004, in rule 4, in sub-rule (7), ...

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Category : Excise | Comments : 0 | Hits : 1298

1. This has reference to SEBI Circular No. CIR/MIRSD/2/2015 dated August 26, 2015 on implementation of the Multilateral Competent Authority Agreement and Foreign Account Tax Compliance Act. 2. In terms of Rule 114G(1)(e)(i) of Income Tax Rules, 1962 issued under Section 285BA of Income Tax Act, 1961 following information is required to be reported by reporting financial institution in the case of reportable custodial account:- (i) the total gross amount of interest, the total gross amount of di...

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Category : SEBI | Comments : 0 | Hits : 1107

1. Regulations 111A and 111B of ICDR Regulations inter alia specify liability of a listed entity or any other person for contravention and actions which can be taken by the respective stock exchange and the revocation of such actions, in the manner specified by SEBI. 2. Stock exchanges shall impose fines on the companies for non-compliance with certain provisions of ICDR Regulations as under: Regulation Violation Fine 95(1) Delay in completion of bonus issue. ₹ 20,000 per day of non-complianc...

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Category : SEBI | Comments : 0 | Hits : 1019

The Government of West Bengal vide Gazette Notification dated February 07, 2017 notified the creation of a new district “Kalimpong” by redefining the limits of Darjeeling District of West Bengal. It has been decided to assign the lead bank responsibility of this new district to State Bank of India as detailed below:- Sr No Newly carved district Erstwhile District Sub-division under the newly created district Lead Bank Responsibility assigned to District Working Code allot...

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Category : RBI | Comments : 0 | Hits : 928

RBI/2016-17/322 DGBA.GBD.No.3262/31.02.007/2016-17 June 15, 2017 All Agency Banks Dear Sir Period for Submission of Agency Commission Claims Please refer to circular No.DGBA.GAD.1031/31.12.010/98-99 dated May 6, 1999 wherein all agency banks were advised to submit their eligible agency commission claims to the Reserve Bank of India within two quarters from the end of the quarter during which the transactions have been conducted. 2. On a review, it has now been decided to reduc...

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Please refer to theMaster Circular DBR.No.BP.BC.4./21.06.001/2015-16 dated July 1, 2015on 'Prudential Guidelines on Capital Adequacy and Market Discipline - New Capital Adequacy Framework (NCAF)'. 2. In terms of para 6 of the circular, six domestic credit rating agencies viz. CARE, CRISIL, FITCH India, ICRA, Brickwork Ratings and SMERA have been accredited for the purpose of risk weighting the banks' claims for capital adequacy purposes. The long term and short term ratings issued by these dome...

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Under the existing provisions contained in section 194-1 of the Income Tax Act, 1961 ('the Act'), tax is required to be deducted at source on payment of rent. The term "rent" is defined in the Explanation to the said section to mean any payment, by whatever name called, under any lease, sub-lease, tenancy or any other agreement or arrangement for the use of (either separately or together) any (a) land; or (b) building (including factory building); or (c) land appurtenant to a b...

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Category : CBDT | Comments : 0 | Hits : 1174

Section 132B of the Income Tax Act 1961, provides for adjustment of seized assets/requisitioned assets against the amount of any existing liability under the Income Tax Act, 1961, (the Act), the Wealth-tax Act, 1957, the Expenditure-tax Act, 1987, the Gift-tax Act, 1958 and the Interest-tax Act, 1974, and the amount of the liability determined on completion of the assessment under section 153A of the Act and the assessment of the year relevant to the previous year in which search is initiated or...

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Category : Income Tax | Comments : 0 | Hits : 1078

Section 2(22) clause (e) of the Income Tax Act, 1961 (the Act) provides that “dividend” includes any payment by a company, not being a company in which the public are substantially interested, of any sum by way of advance or loan to a shareholder, being a person who is the beneficial owner of shares (not being shares entitled to a fixed rate of dividend whether with or without a right to participate in profits holding not less than ten per cent of the voting power, or to any concern ...

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Category : Income Tax | Comments : 0 | Hits : 1101

IGST Exemption under GST [As per discussions in the 16th GST Council Meeting held on 11th June, 2017 I . Bilateral Commitments – Imports under Agreement between India and Pakistan / Bangladesh for regulation of Bus Service...

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Category : GST | Comments : 0 | Hits : 1190

REVISED THRESHOLD LIMIT FOR COMPOSITION LEVY [As per discussions in the 16th GST Council Meeting held on 11th June, 2017] 1. Sub section (1) of section 10 read with sub-section (2) of the same section of the Central Goods and Services Tax Act, 2017 [CGST Act] provides that an eligible registered person, whose aggregate turnover in the preceding financial year did not exceed Rs.50 lakh, may opt to pay, in lieu of the tax payable by him, an amount calculated at the rate of: 1. 1% of tur...

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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 51/2017 New Delhi, the 9th June, 2017 G.S.R. 569(E).—In exercise of the powers conferred by section 139A and section 285BA, 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:‑ 1. (1) These rules may be called the Income –tax (14th Amendme...

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Category : CBDT | Comments : 0 | Hits : 1197

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 9th June, 2017 [Income-tax] S.O. 1866(E).—In exercise of the powers conferred by the third proviso to sub-section (2) of section 92C of the Income-tax Act, 1961 (43 of 1961)(hereinafter referred to as the ‘Act’), read with proviso to sub-rule (7) of rule 10CA of the Income-tax Rules, 1962, the Central Government hereby notifies that where the variation between the arm’s length price determine...

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Category : CBDT | Comments : 0 | Hits : 1327

RBI/2016-17/320 FIDD.CO.LBS.BC.No 31/02.01.001/2016-17 June 8, 2017 The Chairman and Managing Director/ Chief Executive Officer SLBC Convenor Banks Dear Sir, Aligning roadmap for unbanked villages having population more than 5000 with revised guidelines on Branch Authorisation Policy Please refer to thecircular FIDD.CO.LBS.BC.No.82/02.01.001/2015-16 dated December 31, 2015wherein SLBCs were advised to identify villages with population above 5000 without a bank branch of a schedu...

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Category : RBI | Comments : 0 | Hits : 919

RBI/2016-17/319 DGBA.GBD.No.3235/45.01.001/2016-17 June 8, 2017 All Agency Banks Dear Sir / Madam Recording of PPO Number in the passbook of Pensioners / Family Pensioners As you are aware, it has been decided to record the PPO number in all the pension passbooks of the pensioners/family pensioners issued to them. This is to alleviate the difficulties reported by pensioners/family pensioners to get ...

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Category : RBI | Comments : 0 | Hits : 954

S.O. 1683(E).—Whereas, the Insolvency and Bankruptcy Code, 2016 (31 of 2016) (hereinafter referred to as the said Code) received the assent of the President on 28th May, 2016 and was published in the official Gazette on the same date; And, whereas, section 252 of the said Code amended the Sick Industrial Companies (Special Provisions) Repeal Act, 2003 (1 of 2004) in the manner specified in the Eighth Schedule to the said Code;...

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Category : Corporate Laws | Comments : 0 | Hits : 1112

Please refer to ourcircular DBR.No.Ret.BC.64/12.01.001/2015-16 dated December 10, 2015, on maintenance of Statutory Liquidity Ratio under Section 24 and Section 56 of the Banking Regulation Act, 1949. 2. As announced in theSecond Bi-Monthly Monetary Policy Statement 2017-18of the Reserve Bank of India today, it has been decided to reduce the Statutory Liquidity Ratio (SLR) of commercial banks, primary (urban) co-operative banks (UCBs), state co-operative banks and central co-operative banks fro...

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Category : RBI | Comments : 0 | Hits : 994

Please refer to theSecond Bi-monthly Monetary Policy Statement for 2017-18, announced today. 2. As a countercyclical measure, the LTV ratios, risk weights and standard asset provisioning rate for individual housing loanssanctioned on or after the date of this circularshall be as under: Outstanding loan LTV ratio (%) Risk Weight (%) Standard Asset Provision (%) Up to Rs.30 lakh <80 35 0.25 > 80 and<90 50 Above Rs.30 lakh and up to Rs.75 lakh <80 35 ...

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Attention of Authorized Dealer Category - I (AD Category - I) banks is invited to Sr. No. 3, 4 and 5 of Annex toA.P.(DIR Series) Circular No.17 dated September 29, 2015, paragraph No. 2, 3, 4 and 5 ofA.P. (DIR Series) Circular No. 60 dated April 13, 2016, paragraph No. 2 ofA.P. (DIR Series) Circular No. 31 dated February 16, 2017andparagraph No. 3.2,3.3.1,3.3.3and3.3.4of Master Direction No.5 dated January 1, 2016 on ‘External Commercial Borrowings, Trade Credit, Borrowing and Lending in F...

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Category : RBI | Comments : 0 | Hits : 940

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TEXES) NOTIFICATION NO. 44/2017 New Delhi, the 5th June, 2017 INCOME-TAX S.O. 1790(E).—In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the Cost Inflation Index as mentioned in column (3) of the Table for the Financial Years mentioned in the corresponding entry in column (2) of the said Table, ...

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Category : CBDT | Comments : 0 | Hits : 2786

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 5th June, 2017 INCOME-TAX S.O. 1789(E).—In exercise of the powers conferred by third proviso to the clause (38) of section 10 of the Income-tax Act, 1961 (43 of 1961) hereinafter referred to as the Income-tax Act, the Central Government hereby notifies all transactions of acquisition of equity share entered into on or after the 1st day of October, 2004 which are not chargeable to...

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Category : CBDT | Comments : 0 | Hits : 1651

Clarification regarding transmission of Securities by Operation of Law - Circular 07/2017, Dated 05/06/2017....

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Category : Companies Act | Comments : 0 | Hits : 1057