RBI notification on submission of returns by the government-owned NBFC

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… Read More

CBDT amends Income Tax NoT No. 49/2015 dt. 22nd June, 2015 with retrospective effect

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION 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… Read More

RBI discontinues issue of LoUs /LoCs for Trade Credits

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 of A.P. (DIR Series) Circular No.… Read More

CBEC issues circular on processing of refund applications for UIN entities

Circular No. 36/10/2018-GST F. No. 349/48/2017-GST Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs GST Policy Wing New Delhi, Dated the 13th March, 2018 To, The Principal Chief Commissioners/Chief Commissioners/ Principal Commissioners/ Commissioners of Central Tax (All) The Principal Director Generals / Director Generals (All) The Principal Chief… Read More

SEBI issues clarification in respect of investment by certain Category II FPIs

CIRCULAR CIR/IMD/FPIC/47/2018 March 13, 2018 To, 1. All Foreign Portfolio Investors ("FPIs") through their Designated Depository Participants ("DDPs")/ Custodian of Securities. 2. All Recognized Stock Exchanges 3. The Depositories (NSDL and CDSL) Sir/ Madam, Subject: Clarifications in respect of investment by certain Category II FPIs I. This is in reference to SEBI circular No. CIR/IMD/FPIC/… Read More

RBI issues directions on Hedging of Commodity Price Risk and Freight Risk in Overseas Markets

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… Read More

Govt. imposes anti-dumping duty on imports of ‘O-Acid’ originating in or exported from China PR

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REx`VENUE) NOTIFICATION No. 6/2018-Customs (ADD) New Delhi, the 12th March, 2018 G.S.R. (E). – Whereas, in the matter of import of ‘O-Acid’ (hereinafter referred to as the subject goods), falling under Chapter… Read More

Implemetation of Basel III capital regulations :RBI

Ministry of Finance Reserve Bank of India (RBI) has informed that the Basel III capital regulations has been implemented from April 1, 2013 in India in phases, for full implementation by March 31, 2019. Norms/guidelines regarding the capital required to be maintained by banks in India including the Basel III capital regulations, are issued by… Read More

GST Council recommends introduction of E-way Bill from 1 April 2018

Ministry of Finance In the 26th meeting held here today ,  the GST Council has recommended the introduction of e-way bill for inter-State movement of goods across the country from 01st April 2018. For intra-State movement of goods, e-way bill system will be introduced w.e.f. a date to be announced in a phased manner but not… Read More

GST Council’s recommendations during its 26th meeting in New Delhi

Ministry of Finance Return filing System             The present system of filing of GSTR 3B and GSTR 1 is extended for another three months i.e., April to June, 2018 till the new return system is finalized. A new model was discussed extensively and Group of Ministers on IT has been tasked to finalize the same.… Read More

GST council decides to extend tax exemption for exporters for 6 months

Ministry of Finance             Sending a strong positive signal to the exporting community, the GST Council in its 26thmeeting held here today decided to extend the available tax exemptions on imported goods for a further 6 months beyond 31.03.2018. Thus, exporters presently availing various export promotion schemes can now continue to avail such exemptions on… Read More

GST council made recommendations regarding Data Analytics in its 26th meeting

Ministry of Finance  In the 26th meeting held here today , the GST Council has been apprised of the fact that CBEC and GSTN have started detailed data analytics across a number of data sets available with them. The outcome of preliminary data analysis has revealed interesting insights: It has emerged that there is variance between… Read More

Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Amendment Rules, 2018

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 8th March, 2018 G.S.R. 213(E) .– In exercise of the powers conferred by sub-sections (1) and (2) of section 469 read with section 398 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Filing of… Read More

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