MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 30th March, 2017 G.S.R. 308(E).—In exercise of the powers conferred by sub-section (1) of section 467 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following further amendments to Schedule III of the said Act with effect from the date of publication of this notification in the Official Gazette, namely:- 2. In the Companies Act, 2013 (hereinafter referred to as the principal Act), in Sched...

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Category : Companies Act | Comments : 0 | Hits : 1737

RBI/2016-17/260 DPSS.CO.CHD.No./2720/03.01.03/2016-17 March 29, 2017 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 Dear Sir/ Madam, All payment systems to remain closed on April 1, 2017 A reference is invited to the our recentcircular RBI/2016-17/257DPSS.CO.CHD.No./2695/03.01.03/2016-17 dated Ma...

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Category : RBI | Comments : 0 | Hits : 887

RBI/2016-17/259 DBR.No.Leg.BC.56/09.07.005/2016-17 March 29, 2017 All Agency Banks Dear Sir/ Madam, Opening of all Agency Banks for government business on April 1, 2017 – Revised instructions We had vide ourcircular DBR.No.Leg. BC.55/09.07.005/2016-17 dated March 24, 2017advised all Agency Banks to keep all their branches dealing with government business open on all days in the current financial year and on April 1, 2017 (including Saturday, Sunday and all holidays). 2. ...

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Category : RBI | Comments : 0 | Hits : 929

RBI has issued instructions vide notification RBI/2016-17/250 That all agency shall keep counter of their designated branch conducting govt. business open upto To 8 pm on 30th March and upto 6 pm on 31 march 2017. All electronics transaction would, however, continue till midnight of March 31, 2017. Thus assessee can make e-payment till the midnight of 31st March, 2017....

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Category : Service Tax | Comments : 0 | Hits : 1026

RBI/2016-17/256 DBR.No.Leg.BC.55/09.07.005/2016-17 March 24, 2017 All Agency Banks Dear Sir/ Madam, All Agency Banks to remain open for public on all days from March 25, 2017 to April 1, 2017 The Government of India has advised that all Pay and Account Offices will remain open on all days up to April 1, 2017 to facilitate government receipt and payment functions. Accordingly, all Agency Banks are advised to keep all their branches dealing with government business open on all days...

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Category : RBI | Comments : 0 | Hits : 1893

Whereas, in the matter of review of anti-dumping duty on import of Diclofenac Sodium, falling under the heading 2942 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) [hereinafter referred to as the Customs Tariff Act], originating in or exported from People’s Republic of China (hereinafter referred to as the subject country), the designated authority, vide its final findings in notification No.15/3/2013-DGAD, dated the 2nd October, 2014, published in the Gazette of India,...

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Category : Custom | Comments : 0 | Hits : 951

).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following amendments in each of the notifications of the Government of India in the Ministry of Finance (Department of Revenue), specified in column (2) of the Table below, which shall be further amended in the manner specified in the corresponding entry in column (3) of the s...

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Category : Custom | Comments : 0 | Hits : 1013

RBI/2016-17/255 DPSS.CO.CHD.No./2656/03.01.03/2016-17 March 23, 2017 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, Special Clearing operations on March 30 and 31, 2017 A reference is invited to the circular issued by our Department of Government and Bank Accounts (DGBA.GAD.No.2...

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Category : RBI | Comments : 0 | Hits : 4986

Clarifications on Income Computation and Disclosure Standards (ICDS) notified u/s 145(2) of the Income Tax Act, 1961 - Circular No. 10/2017, Dated 23-03-2017. CLICK HERE FOR CIRCULAR ...

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Category : Income Tax | Comments : 0 | Hits : 2214

S.O. (E): In exercise of powers conferred by Section 5 of FT (D&R) Act, 1992, read with paragraph 1.02 of the Foreign Trade Policy, 2015-2020, as amended from time to time, the Central Government hereby makes following amendments in Chapter 4 of Foreign Trade Policy 2015-20. 1. The existing Para 4.22(ii) is amended to read as under: "In cases of supplies to projects in India under deemed export category or projects abroad, the Export Obligation period shall be eo-terminus with contracted du...

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Category : DGFT | Comments : 0 | Hits : 3287

1. Regulation 15 (1) (b) of the SEBI (Issue and Listing of Debt Securities by Municipalities) Regulations, 2015 (SEBI ILDM regulations) requires that an issuer making issue of debt securities under these regulations, on a private placement basis, shall submit its accounts prepared in accordance with National Municipal Accounts Manual or in accordance with similar Municipal Accounts Manual adopted by the respective State Government for at least three immediately preceding financial years. 2. SEB...

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Category : SEBI | Comments : 0 | Hits : 883

RBI/2016-17/254 A.P. (DIR Series) Circular No. 41 March 21, 2017 To, All Authorised Dealer Category - I Banks Madam / Sir, Risk Management and Inter-bank Dealings: Operational flexibility for Indian subsidiaries of Non-resident Companies Attention of Authorised Dealers Category – I (AD Category – I) banks is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 dated May 3, 2000 (Notification No. FEMA. 25/RB-2000 dated M...

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Category : RBI | Comments : 0 | Hits : 31765

1. The Government of India has decided to extend the RoSL on garment exports to exports of made-up articles covered under Chapter 63 of the AIR Drawback schedule. It is provided based on a budgetary allocation of the Ministry of Textiles under a scheme in which the Department of Revenue/Central Board of Excise and Customs (CBEC) handles disbursement along with the extant Duty Drawback. This is exactly on lines of ROSL for garments, details of which are available in Circular no. 43/2016-Cus dated...

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Category : Custom | Comments : 0 | Hits : 1117

Date : Mar 20, 2017 Branches of SBBJ, SBH, SBM, SBP and SBT to operate as branches of SBI from April 1, 2017 All branches of State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Mysore (SBM), State Bank of Patiala (SBP) and State Bank of Travancore (SBT) will function as branches of State Bank of India from April 1, 2017. Customers, including depositors of State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala...

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Category : RBI | Comments : 0 | Hits : 1217

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 17th March, 2017 G.S.R. 258(E).—In exercise of the powers conferred by section 133 read with section 469 of the Companies Act, 2013 (18 of 2013) and sub-section (1) of section 210A of the Companies Act, 1956 (1 of 1956), the Central Government, in consultation with the National Advisory Committee on Accounting Standards, hereby makes the following rules further to amend the Companies (Indian Accounting Standards) Rules, 2...

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Category : Companies Act | Comments : 0 | Hits : 1199

Please refer to our letter IDMD.No.1451/08.03.016/2016-17 dated December 16, 2016 andNotification No. S.O.4061(E) dated December 16, 2016issued by the Government of India about announcement of“Pradan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016. It has been brought to our notice that there is lack of clarity amongst investors on the reference number that needs to be quoted onForm Vwhile uploading the same to the Income tax Authorities. Currently, banks are issuing an acknowledgemen...

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Category : RBI | Comments : 0 | Hits : 1048

1. In order to improve transparency in disclosing the regulatory orders and arbitration awards issued by clearing corporations, it has been decided that all regulatory orders i.e. orders against clearing members and arbitration / appellate awards by arbitrators need to be made available to investors. 2. Accordingly, it has been decided that the Clearing Corporations shall post all regulatory orders and arbitration / appellate awards issued since June 20, 2012, on their websites within 30 days. ...

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Category : SEBI | Comments : 0 | Hits : 916

The Government of India has desired that all government transactions with banks must be accounted for within the same financial year and has requested that certain special arrangements be made for the purpose, as in previous years. Accordingly, all agency banks should keep the counters of their designated branches conducting government business open for government transactions up to 6.00 p.m. on March 30, 2017 and up to 8.00 p.m. on March 31, 2017. All electronic transactions would, however, con...

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Category : RBI | Comments : 0 | Hits : 823

Representations have been received from the members of the trade requesting clarification regarding classification of „Saree‟. The issue raised in these representations is whether the goods described as „Saree‟ which has undergone further processing such as embroidery, stitching of lace and tikki etc. and stitched with two or more kinds of fabrics is classifiable as „Saree‟ under Chapter 54 or as made-ups under Chapter 63 of the Central Excise Tariff Act, 1985....

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Category : Excise | Comments : 0 | Hits : 1555

RBI/2016-17/245 DNBR (PD) CC.No.086/03.10.001/2016-17 March 09, 2017 All NBFCs Madam/ Sir, Disbursal of loan amount in cash Reference is invited to instructions contained in para 37(iii)(b) of Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016 and Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 which states that high value l...

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Category : RBI | Comments : 0 | Hits : 827

RBI/2016-17/247 A.P. (DIR Series) Circular No. 38 March 09, 2017 To All Category - I Authorised Dealer Banks Madam / Sir, Exim Bank's Government of India supported Line of Credit of USD 92.18 million to the Government of Tanzania Export-Import Bank of India (Exim Bank) has entered into an agreement on July 10, 2016 with the Government of Tanzania for making available to the...

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Category : RBI | Comments : 0 | Hits : 846

RBI/2016-17/248 FIDD.CO.LBS.BC.No.23/02.08.001/2016-17 March 9, 2017 The Chairmen & Managing Directors All Lead Banks Dear Sir/Madam, Formation of seven new districts in the State of Manipur - Assignment of Lead Bank Responsibility The Government of Manipur vide Gazette Notification dated December 8, 2016 had notified the creation of seven new districts in the State of Manipur. It has been decided to assign the lead bank responsibility of the seven new districts as detailed b...

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Category : RBI | Comments : 0 | Hits : 815

Kind attention is invited to Ninety two Circulars and Instruction on Show Cause Notices and Adjudication issued by the Board from time to time, placed at the Annexures to this Masteer Circular. These circulars address references from trade and field formations and provide clarity and uniformity on the issues raised. Board undertakes exercise of consolidating these circulars from the time to time so as to ensure clarity and ease of reference. This master circular on the subject of show cause noti...

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Category : Excise | Comments : 0 | Hits : 1037

In exercise of the powers conferreed by sub-section (1) of section 93 of the Finance Act, 1994, the Central Government, being satisfied that it is neccesary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 25/2012 Service Tax, dated the 20th June, 2012, published in the Gazette of India, namel:- In the said notification, in the opening paragraph, in entry 9, in cla...

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Category : Service Tax | Comments : 0 | Hits : 1273

RBI/2016-17/243 DGBA.GAD.No.2294/15.04.001/2016-17 March 6, 2017 All Agency Banks Dear Sir/Madam Gold Monetisation Scheme Please refer to RBIMaster Direction No.DBR.IBD.No.45/23.67.003/2015-16 dated October 22, 2015(updated up to January 21, 2016) on the above subject. In order to operationalise the scheme, we advise the following: 2. In order to have uniformity in reporting, reconciliation...

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Category : RBI | Comments : 0 | Hits : 921

I am directed to invite the attention of the field formations to the prosecution guidelines issued by the Ministry vide Circular No. 27/2015-Customs dated 23.10.2015 (further amended vide Circular No. 46/2016-Customs dated 04.10.2016) revising the guidelines issued vide order No.394/71/97-CUS (AS) dated 22.06.1999....

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Category : Custom | Comments : 0 | Hits : 1076

In exercise of the powers conferred by sub-section (1) of section 4 and subsection (1) of section 5 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby appoints officer to exercise the powers and discharge duties conferred or imposed on officers, for purpose of adjudication of show cause notice....

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Category : Custom | Comments : 0 | Hits : 976

In exercise of the powers conferred by section 157 of the Customs Act,1962 (52 of 1962), the Central Board of Excise and Customs hereby makes the following regulations, further to amend the Courier Imports and Exports (Clearance) Regulations, 1998, namely:- These regulations may be called the Courier Imports and Exports (Clearance) Amendment Regulations, 2017. In the Courier Imports and Exports (Clearance) Regulations, 1998, in regulation 6, in the sub- regulation (3), for the first proviso, t...

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Category : Custom | Comments : 0 | Hits : 1008

In exercise of power conferred by section 14 of custom act, 1962, CBEC notified revise rate of exchange for conversion of foreing currencies relating to import and export goods....

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Category : Custom | Comments : 0 | Hits : 949

Whereas, Central Government is satisfied that in the period commencing on and from the 1st day of july, 2012 and ending with 31st march, 2015 (hereinafter referred as the said period), according to the practice that was generally prevalent, there was non levy of service tax by way of admission to museum and this service was liable to service tax, in said period, which was not being paid according to the said practice. Now, therefore, in exercise of power conferred by section 11C of Central Exci...

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Category : Service Tax | Comments : 0 | Hits : 959