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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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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GST |
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Discontinuance of Letters of Undertaking (LoUs) and Letters of Comfort (LoCs) for Trade Credits
Posted Date : 13-Mar-2018 , 08:30:00 pm | Posted By: CASANSAAR
RBI/2017-18/139
A.P. (DIR Series) Circular No. 20
March 13, 2018
All Authorised Dealer Category – I Banks
Madam/ Sir
Discontinuance of Letters of Undertaking (LoUs) and Letters of Comfort (LoCs) for Trade Credits
Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to paragraph 2 ofA.P. (DIR Series) Circular No. 24 dated November 1, 2004andparagraph No. 5.5of Master Direction No.5 dated January 1, 2016 on ‘External Commercial Borrowings, ...
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RBI |
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Hedging of Commodity Price Risk and Freight Risk in Overseas Markets (Reserve Bank) Directions
Posted Date : 12-Mar-2018 , 11:48:05 pm | Posted By: Manya
RBI/2017-18/138
A.P. (DIR Series) Circular No. 19
March 12, 2018
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Hedging of Commodity Price Risk and Freight Risk in Overseas Markets
(Reserve Bank) Directions
Attention of Authorised Dealer Category - I (AD Category-I) banks is invited to regulation 6 and 6A of the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 dated May 3, 2000 (Notification No.FEMA. 25/RB-2000 dated May 3, 2000)...
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RBI |
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Second Amendment (2018) to CGST Rules
Posted Date : 07-Mar-2018 , 04:11:40 pm | Posted By: Manya
[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 Excise and Customs
Notification No.12/2018 – Central Tax
New Delhi, the 7th 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 rule...
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Category :
Income Tax |
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Rescinding notification No. 06/2018 - CT dated 23.01.2018
Posted Date : 07-Mar-2018 , 04:08:32 pm | Posted By: Manya
[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 Excise and Customs
Notification No. 13/2018 – Central Tax
New Delhi, the 7th March, 2018
G.S.R…. (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,...
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Income Tax |
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Separate limit of Interest Rate Futures (IRFs) for Foreign Portfolio Investors (FPIs)
Posted Date : 03-Mar-2018 , 03:32:31 pm | Posted By: Manya
RBI/2017-18/137
FMRD.DIRD.6/14.03.001/2017-18
March 1, 2018
All market participants
Madam/Sir,
Separate limit of Interest Rate Futures (IRFs) for Foreign Portfolio Investors (FPIs)
Please refer to Paragraph 8 of the statement on Developmental and Regulatory Policies, issued as part of the third Bi-monthly Monetary Policy Statement for 2017- 18 dated August 02, 2017, wherein a separate limit of Interest Rate Futures for Foreign Portfolio Investors was proposed.
2. Currently, th...
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RBI |
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Priority Sector Lending – Targets and Classification
Posted Date : 03-Mar-2018 , 03:30:49 pm | Posted By: Manya
RBI/2017-18/135
FIDD.CO.Plan.BC.18/04.09.01/2017-18
March 01, 2018
The Chairman/ Managing Director & CEOs
All Scheduled Commercial Banks
Dear Sir/ Madam,
Priority Sector Lending – Targets and Classification
Please refer to the revised priority sector guidelines issued to banks vide FIDD.CO.Plan.BC.54/04.09.01/2014-15 circular dated April 23, 2015. It was stipulated therein under Para (II) (i) that the sub-targets for lending to small and marginal farmers and micro ente...
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RBI |
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Review of Currency Distribution & Exchange Scheme (CDES)
Posted Date : 03-Mar-2018 , 03:26:29 pm | Posted By: Manya
RBI/2017-18/136
DCM (CC) No. 3071/03.41.01/2017-18
March 01, 2018
The Chairman & Managing Director /
Chief Executive Officer,
All Banks
Madam / Dear Sir,
Review of Currency Distribution & Exchange Scheme (CDES)
Please refer to the announcement made in Part B of the Bi-Monthly Review of Monetary Policy dated February 7, 2018. The RBI has been providing several incentives to banks, from time to time for installation of various machines by them to encourage technology abso...
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RBI |
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Risk Management and Inter-bank Dealings: Revised guidelines relating to participation of a person resident in India and Foreign Portfolio Investor (FPI) in the Exchange Traded Currency Derivatives (ETCD) Market
Posted Date : 27-Feb-2018 , 11:17:51 am | Posted By: Manya
RBI/2017-18/134
A. P. (DIR Series) Circular No. 18
February 26, 2018
All Category - I Authorised Dealer banks
Madam/Sir,
Risk Management and Inter-bank Dealings: Revised guidelines relating to participation of a person resident in India and Foreign Portfolio Investor (FPI) in the Exchange Traded Currency Derivatives (ETCD) Market
Attention of Authorized Dealers Category - I (AD Category - I) banks is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contract...
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RBI |
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0 | Hits : 693
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Ombudsman Scheme for Non-Banking Financial Companies, 2018 - Appointment of the Nodal Officer/Principal Nodal Officer
Posted Date : 24-Feb-2018 , 09:19:50 am | Posted By: CASANSAAR
RBI/2017-18/133
DNBR.PD.CC.No 091/03.10.001/2017-18
February 23, 2018
All NBFCs
Madam/ Dear Sir,
Ombudsman Scheme for Non-Banking Financial Companies, 2018 - Appointment of the Nodal Officer/Principal Nodal Officer
The Reserve Bank of India (RBI) has brought into operation today theOmbudsman Scheme for Non-Banking Financial Companies, 2018(The Scheme). The Scheme is available on the RBI websitehttp://www.rbi.org.in. The Non-Banking Financial Companies (NBFCs) that are covered und...
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RBI |
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OBC warns Concurrent Auditors to duly Verify all Outward SWIFT messages
Posted Date : 22-Feb-2018 , 10:21:59 am | Posted By: CASANSAAR
ORIENTAL BANK OF COMMERCE
(A GOVERNMENT OF INDIA UNDERTAKING)
CORPORATE OFFICE, GURGAON
HO/I&C/Circular letter No./41/2017-18
Date: 19.02.2018
To All Concurrent Auditors / Branches / Offices
Re: Verification of all Outward SWIFT messages
Attention of all concurrent auditors is invited towards the scope & coverage of activities while undertaking audit work of Branches/Clusters/Offices. In this connection, detailed guidelines on scope & coverage of activities have ...
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Category :
RBI |
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RBI forms committee to measure effectiveness of bank audit in fraud mitigation
Posted Date : 22-Feb-2018 , 10:19:18 am | Posted By: CASANSAAR
Reserve Bank of India (RBI), as part of its ongoing efforts for strengthening of the supervisory framework in the country, has been issuing necessary instructions to banks from time to time on a variety of issues of prudential supervisory concern, including the management of operational risks inherent in the functioning of banks. The risks arising from the potential malicious use of the SWIFT infrastructure, created by banks for their genuine business needs, has always been a component of their ...
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Category :
RBI |
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Acceptance of coins
Posted Date : 16-Feb-2018 , 10:26:01 am | Posted By: Manya
RBI/2017-18/132
DCM (RMMT) No.2945/11.37.01/2017-18
February 15, 2018
The Chairman and Managing Director /
The Managing Director/
The Chief Executive Officer
All Banks
Dear Sir
Acceptance of coins
We invite a reference to Paragraph 1 (d) of our Master Circular DCM (NE) No. G - 1/08.07.18/2017-18 dated July 03, 2017 on Facility for Exchange of Notes and Coins where it was advised that none of the bank branches should refuse to accept small denomination notes and / or coins tend...
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RBI |
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Clarifications regarding GST in respect of certain services
Posted Date : 13-Feb-2018 , 09:39:14 am | Posted By: CASANSAAR
Circular No. 32/06/2018-GST
F. No. 354/17/2018-TRU
Government of India
Ministry of Finance
Department of Revenue
Tax research Unit
****
Room No. 146G, North Block,
New Delhi, 12th February 2018
To,
The Principal Chief Commissioners/ Chief Commissioners/ Principal Commissioners/
Commissioner of Central Tax (All) /
The Principal Director Generals/ Director Generals (All)
Madam/Sir,
Subject: Clarifications regarding GST in respect of certain services
I am dire...
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Category :
GST |
Comments :
0 | Hits : 665
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Resolution of Stressed Assets – Revised Framework
Posted Date : 13-Feb-2018 , 09:36:05 am | Posted By: CASANSAAR
RBI/2017-18/131
DBR.No.BP.BC.101/21.04.048/2017-18
February 12, 2018
All Scheduled Commercial Banks
(Excluding Regional Rural Banks (RRB)),
All-India Financial Institutions
(Exim Bank, NABARD, NHB and SIDBI)
Dear Sir/Madam,
Resolution of Stressed Assets – Revised Framework
1. The Reserve Bank of India has issued various instructions aimed at resolution of stressed assets in the economy, including introduction of certain specific schemes at different points of time. In vi...
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Category :
RBI |
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0 | Hits : 601
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Levy of Penal Interest – Delayed Reporting
Posted Date : 09-Feb-2018 , 09:14:50 pm | Posted By: CASANSAAR
RBI/2017-18/130
DCM (CC) No. 2885/03.35.01/2017-18
February 9, 2018
1. The Chairman & Managing Director / Chief Executive Officer
(All Banks having currency chests)
2. The Director Treasuries
(State Governments)
Madam / Dear Sir,
Levy of Penal Interest – Delayed Reporting
Please refer to ourMaster Direction DCM (CC) No.G-2/03.35.01/2017-18 dated October 12, 2017on captioned subject.
2. Presently, penal interest is levied for all cases where the bank has enjoyed ...
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RBI |
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