Services provided to the Government, a local Authority or a Governmental Authority with regards to water supply
Posted Date : 23-Aug-2016 , 08:06:15 am | Posted By: CASANSAAR
Services provided to the Government, a local Authority or a Governmental Authority with regards to water supply - Circular no.199/09/2016, Dated 22/08/2016...
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Service Tax |
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Guidelines regarding Provisional Assessments under section 18 of the Custom Act, 1962
Posted Date : 23-Aug-2016 , 08:04:07 am | Posted By: CASANSAAR
Guidelines regarding Provisional Assessments under section 18 of the Custom Act, 1962 - Circular No. 38/2016 Dated 22/08/2016
CLICK FOR CIRCULAR...
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Custom |
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CBDT notifies classes of buyers to whom TCS provisions not apply
Posted Date : 23-Aug-2016 , 07:53:22 am | Posted By: CASANSAAR
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION NO. 75/2016-INCOME TAX
New Delhi, the 19th August, 2016
S.O. 2747(E).- In exercise of the powers conferred by sub-section (1E) of section 206C 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 (21st Amendm...
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CBDT |
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Service tax on freight forwarders on transportation of goods from India
Posted Date : 13-Aug-2016 , 09:13:20 am | Posted By: CASANSAAR
F. No. 137/54/2016-Service Tax-Part-I
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise and Customs
Service Tax Wing
Circular No. 197/7/2016 -Service Tax
New Delhi, the 12th August, 2016
To,
All Principal Chief Commissioners / Chief Commissioners of Central Excise/Service Tax
Principal Directors General/Director General Goods & Service Tax/ DGCEII Systems/Audit/ Tax Payer Services/Performance Management
Chief Commissioner AR CESTAT...
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Service Tax |
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Capacity Building in Banks and AIFIs
Posted Date : 11-Aug-2016 , 06:07:32 pm | Posted By: CASANSAAR
The Reserve Bank had constituted a ‘Committee on Capacity Building’ (July 2014) under the Chairmanship of former Executive Director, Shri G Gopalakrishna, with the objective of implementing non-legislative recommendations of the Financial Sector Legislative Reforms Commission (FSLRC), relating to capacity building in banks and non-banks, streamlining training intervention and suggesting changes thereto in view of ever increasing challenges in banking and non-banking sector.
2. The...
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RBI |
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Priority Sector Lending status for Factoring Transactions
Posted Date : 11-Aug-2016 , 06:05:07 pm | Posted By: CASANSAAR
Please refer toMaster Direction FIDD.CO.Plan.1/04.09.01/2016-17 dated July 7, 2016on Priority Sector Lending (PSL) and Guidelines dated December 3, 2014 for setting up of and operating the Trade Receivables Discounting System (TReDS) issued by Reserve Bank of India.
2. To increase liquidity support for the MSME sector, it has been decided that factoring transactions on ‘with recourse’ basis shall be eligible for priority sector classification by banks, which are carrying out the b...
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RBI |
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Auction of Government of India Dated Securities
Posted Date : 09-Aug-2016 , 02:44:45 pm | Posted By: CASANSAAR
Dear Sir/Madam,
Auction of Government of India Dated Securities
Government of India has offered to sell (re-issue)fourdated securities for notified amount ofRs 15,000crore as per the following details:
Sr No
Security
Notified Amount
(in Rs crore)
GoI Notification
Auction Date
Settlement date
1
7.68% GS 2023
3,000
4(3)-W&M/2016 dated
August 08, 2016
August 12, 2016
(Friday)
August 16, 2016
(Tuesday)
...
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RBI |
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Implementation of Indian Accounting Standards (Ind AS) - RBI
Posted Date : 04-Aug-2016 , 07:37:29 pm | Posted By: CASANSAAR
RBI/2016-17/34
RBI/2016-17/DBR.FID.No. 1/01.02.000/2016-17
August 04, 2016
All India Financial Institutions
(Exim Bank, NABARD, NHB and SIDBI)
Madam / Dear Sir,
Implementation of Indian Accounting Standards (Ind AS)
The Ministry of Corporate Affairs (MCA), Government of India has notified the Companies (Indian Accounting Standards) Rules, 2015 on February 16, 2015. A reference is also invited to the Press Release dated January 18, 2016 issued by the MCA outlining the roadmap for...
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RBI |
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Dishonour of cheques – Modification in procedure
Posted Date : 04-Aug-2016 , 05:43:40 pm | Posted By: CASANSAAR
RBI/2016-17/33
DBR.No.Leg.BC.3/09.07.005/2016-17
August 04, 2016
All Scheduled Commercial Banks
(Including RRBs)
Dear Sir/ Madam,
Dishonour of cheques – Modification in procedure
Please refer to ourcircular DBOD.BC.Leg.No.113/09.12.001/2002-03 dated June 26, 2003and paragraph 11.4 (i) ofRPCD.CO.RRB.BC.No.100/03.05.33/2013-14 dated May 12, 2014wherein banks were advised to introduce a condition for operation of accounts with cheque facility that in the event of dishonour of...
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RBI |
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Union Budget – 2016-17 Interest Subvention Scheme
Posted Date : 04-Aug-2016 , 05:41:58 pm | Posted By: CASANSAAR
RBI/2016-17/32
FIDD.CO.FSD.BC.No 9/05.02.001/2016-17
August 4, 2016
To,
The Chairman / Managing Director
All Public & Private Sector Scheduled Commercial Banks
Dear Sir/Madam
Union Budget – 2016-17
Interest Subvention Scheme
As directed by the Government of India and in pursuance of the budget announcement relating to the Interest Subvention Scheme 2016-17 (the Scheme) it is advised that Government of India has approved the implementation of the Scheme for the year 2...
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RBI |
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lssuance ot rupees bonds to overseas investors
Posted Date : 04-Aug-2016 , 10:59:44 am | Posted By: ISHU KAUR
Issuance of rupees bonds to overseas investors by indian companies-Clarification regarding applicability of provisions of chapter III of the Companies Act 2013.
...
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Category :
Companies Act |
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RBI releases Guidelines for ‘on tap’ Licensing of Universal Banks in the Private Sector
Posted Date : 01-Aug-2016 , 05:47:33 pm | Posted By: CASANSAAR
The Reserve Bank of India today released on its website, “Guidelines for ‘on tap’ Licensing of Universal Banks in the Private Sector”.
Some of the key aspects of the Guidelines include: (i) resident individuals and professionals having 10 years of experience in banking and finance at a senior level are also eligible to promote universal banks; (ii) large industrial houses are excluded as eligible entities but are permitted to invest in the banks up to 10 per cent; (iii...
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RBI |
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Removal of mandatory warehousing requirements for EOUs, STPIs, EHTPs
Posted Date : 29-Jul-2016 , 05:52:11 pm | Posted By: CASANSAAR
Sir/Madam, Chapter 6 of the Foreign Trade Policy (FTP) provides for manufacture of goods and supply of services, including repair, re-making, reconditioning, re-engineering by Export Oriented Units (EOUs), Electronics Hardware Technology Park Units (EHTPs), Software Technology Park Units (STPIs) and Bio-Technology Park Units (hereinafter referred to as “units”) and undertaking to export their entire production of goods and services, except permissible sales in DTA....
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Category :
Custom |
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Retail Participation by Demat Account Holders in the Government Securities Market: Access to NDS
Posted Date : 29-Jul-2016 , 09:08:01 am | Posted By: CASANSAAR
RBI/2016-17/30
Ref No. FMRD.DIRD.3/14.03.07/2016-17
July 28, 2016
To
All eligible market participants
Retail Participation by Demat Account Holders in the Government Securities
Market: Access to NDS-OM Platform
As announced in theFirst Bi-monthly Monetary Policy Statement, 2015-16, an Implementation Group with representation from all the stakeholders was constituted to recommend specific measures to enable seamless movement of securities from Subsidiary General Ledger (SGL) form...
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RBI |
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Half yearly/Quarterly Review of Accounts of Public Sector Banks
Posted Date : 29-Jul-2016 , 09:06:46 am | Posted By: CASANSAAR
RBI/2016-17/29
Ref.DBS.ARS.No.BC.2/08.91.001/2016-17
July 28, 2016
All Public Sector Banks
Dear Sir/Madam,
Half yearly/Quarterly Review of Accounts of Public Sector Banks
Please refer to our circular DBS.ARS.No.BC.17/08.91.001/2002-03 dated June 5, 2003 on conduct of Half yearly/Quarterly Review of Accounts of Public Sector Banks.
2. The reporting format has been revised as per theannex. You may, accordingly, arrange to prepare the review in the revised format as enclosed, eff...
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Category :
RBI |
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Priority Sector Lending –Targets and Classification
Posted Date : 29-Jul-2016 , 09:05:57 am | Posted By: CASANSAAR
RBI/2016-17/27
FIDD.CO.Plan.BC.No.8/04.09.001/2016-17
July 28, 2016
The Chairman/ Managing Director/
Chief Executive Officer
[All Scheduled Commercial Banks
(excluding RRBs)]
Dear Sir/ Madam,
Priority Sector Lending –Targets and Classification- Bank loans to MFIs for on-lending - Qualifying asset - Revised loan limit
Please refer to paragraph 19 (b) (iv) of the Master Direction on Priority Sector Lending – Targets and ClassificationFIDD.CO.Plan.No.1/04.09.001/2016-...
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RBI |
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Guidelines for Relief Measures by NBFCs in areas affected by Natural Calamities
Posted Date : 29-Jul-2016 , 08:57:47 am | Posted By: CASANSAAR
RBI/2016-17/28
DNBR (PD) CC.No.083/03.10.001/2016-17
July 28, 2016
All Non-Banking Financial Companies
Madam/ Sir,
Guidelines for Relief Measures by NBFCs in areas affected by Natural Calamities
The Reserve Bank has issued guidelines to banks in regard to matters relating to relief measures to be provided in areas affected by natural calamities videFIDD.No.FSD.BC.52/05.10.001/2014-15 dated March 25, 2015,FIDD No.FSD.BC.12/05.10.001/2015-16 dated August 21, 2015andFIDD.No.FSD.BC.2...
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RBI |
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Company Court under Section 435 Of The Company Act 2013
Posted Date : 28-Jul-2016 , 05:43:31 pm | Posted By: CASANSAAR
S.O......... (E).-In exercise of the powers conferred by sub-section (1) of section 435 of the Companies Act, 2013 (18 of 2013), the Central Government hereby, with the concurrence of the Chief Justice of the High Court of Delhi, designates the following Couft as Special Court for the purposes of providing speedy trial of offences punishable under the Companies Act, 2013 with imprisonment of two years or more under the Companies Act, 2013, namely:-...
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Category :
Companies Act |
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Companies (Accounts) Amendment Rules, 2016
Posted Date : 28-Jul-2016 , 05:31:21 pm | Posted By: CASANSAAR
G.S.R. (E).-In exercise of the powers conferred by sub-sections (1) and (3) of section 128, sub section (3) of section 129, section 133, section 134 and section 138 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Accounts) Rules, 2014, namely:-
...
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Category :
Companies Act |
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Companies (Incorporation) Third Amendment Rules,2016
Posted Date : 28-Jul-2016 , 05:09:10 pm | Posted By: CASANSAAR
G.S.R. .—In exercise of the powers conferred by sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Incorporation) Rules, 2014, namely:
...
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Category :
Companies Act |
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CBEC Instructions regarding provisional attachment of property under section 73C of the Finance Act, 1994
Posted Date : 28-Jul-2016 , 07:42:56 am | Posted By: CASANSAAR
Circular No. 196/06/2016-ST, Dated 27-07-2016,CBEC Instructions regarding provisional attachment of property under section 73C of the Finance Act, 1994....
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Category :
Service Tax |
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General procedures regarding excise duty on articles of jewellery
Posted Date : 27-Jul-2016 , 10:50:36 am | Posted By: ISHU KAUR
General procedures regarding excise duty on articles of jewellery or parts of articles of jewellery or both falling under heading 7113
...
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Category :
Excise |
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Guidelines for issue of summons, visits, search, seizure, arrest and prosecution regarding manufacturers of articles of jewellery
Posted Date : 27-Jul-2016 , 10:48:25 am | Posted By: ISHU KAUR
Guidelines for issue of summons, visits, search, seizure, arrest and prosecution regarding manufacturers or principal manufacturers of articles of jewellery or parts of articles of jewellery or both
...
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Category :
Excise |
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Export related procedural simplifications - excise duty on articles of jewellery falling under heading 7113
Posted Date : 27-Jul-2016 , 10:48:02 am | Posted By: CASANSAAR
In this year’s Budget, central excise duty of 1% without input and capital goods tax credit or 12.5% with credit was imposed on articles of jewellery falling under heading 7113 of the First Schedule to the Central Excise Tariff 1985. Subsequent to that, the Government had set up a Sub-Committee of the High Level Committee, headed by Dr. Ashok Lahiri to interact with Trade & Industry on issues relating to procedure and compliance relating to excise duty of articles of jewellery. The Sub...
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Category :
Excise |
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Guidelines for Excise Audit of Manufacturers / Principal Manufacturers of articles of jewellery or parts of articles of jewellery
Posted Date : 27-Jul-2016 , 10:45:50 am | Posted By: CASANSAAR
In this year’s Budget, central excise duty of 1% without input and capital goods tax credit or 12.5% with credit was imposed on articles of jewellery falling under heading 7113 of the First Schedule to the Central Excise Tariff 1985. Subsequent to that, the Government had set up a Sub-Committee of the High Level Committee, headed by Dr. Ashok Lahiri to interact with Trade & Industry on issues relating to procedure and compliance relating to excise duty of articles of jewellery. The Sub...
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Category :
Excise |
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Excise duty imposition on articles of jewellery in the Budget 2016-17
Posted Date : 27-Jul-2016 , 10:45:23 am | Posted By: ISHU KAUR
taxability of stock on february 29,2016-excise duty imposition on articles of jewellery in the budget 2016-2017
central excise duty of 1% without input and capital good tax credit or 12.5% with credit was imposed on articles of jewellery falling under heading 7113.
...
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Category :
Excise |
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0 | Hits : 1073
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Regarding assessment of Bulk liquid Cargo
Posted Date : 26-Jul-2016 , 05:12:30 pm | Posted By: ISHU KAUR
Assessment of Bulk Liquid Cargo regarding:
Kindly refer to the judgement of hon'ble supreme court in case of mangalore refinery and petrochemicals ltd. vs commissioner of custom,mangalore dated 02/09/2015 [2015(323)E.L.T.423 (S.C.)]
...
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Category :
Custom |
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0 | Hits : 989
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Draft Rules for prescribing the manner of determination of amount received by the company in respect of share
Posted Date : 26-Jul-2016 , 08:01:04 am | Posted By: CASANSAAR
CBDT prescribes method to determine shares consideration for buy-back tax; releases draft rules.
Under section 115QA of the Income-tax Act, 1961 (the Act), additional Income-tax at the rate of 20 percentis levied on the distributed income arising out of buy back of unlisted share by the company. The distributed income was defined to be the consideration paid by the company on buy back of shares as reduced by the amount which was received by the company for issue of such shares...
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Category :
Income Tax |
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0 | Hits : 944
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Review of entity based facilitation programmes viz. Accredited Client Programme (ACP) and Authorized Economic Operator (AEO) programme — Revised Guidelines.
Posted Date : 23-Jul-2016 , 10:55:32 am | Posted By: ISHU KAUR
: Review of entity based facilitation programmes viz. Accredited Client Programme (ACP) and Authorized Economic Operator (AEO) programme — Revised Guideline...
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Category :
Custom |
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0 | Hits : 1070
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Liquidity Coverage Ratio (LCR), Liquidity Risk Monitoring Tools and LCR Disclosure Standards
Posted Date : 22-Jul-2016 , 07:25:59 am | Posted By: CASANSAAR
RBI/2016-17/25
DBR.BP.BC.No.2/21.04.098/2016-17
July 21, 2016
All Scheduled Commercial Banks
(excluding RRBs)
Dear Sir,
Basel III Framework on Liquidity Standards – Liquidity Coverage Ratio (LCR), Liquidity Risk Monitoring Tools and LCR Disclosure Standards
Please refer to ourcirculars DBOD.BP.BC.No.120/21.04.098/2013-14 dated June 9, 2014,DBR.BP.BC.No.52/21.04.098/2014-15 dated November 28, 2014andDBR.BP.BC.No.77/21.04.098/2015-16 dated February 11, 2016on ‘Basel II...
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Category :
RBI |
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