Minister of State for Finance

CLR Snippets | Ministry Clarification on Service Tax leviability on Takeaway Eating Joints

Prior to 01.04.2013, service tax was leviable on restaurants satisfying two conditions namely (i) the facility of air-conditioning or central heating in any part of the establishment, at any point of time during the year, and (ii) a license to serve alcoholic beverages. With effect from 01.04.2013, condition number (ii) stands deleted. Accordingly service tax… Read More

Tags: Air conditioningIndiaLok SabhaMinister of State for FinanceMumbaiRestaurantShri Namo Narain MeenaTaxation in India

RBI and GoI taking steps for Improving Customer Services in Public Sector Banks

Public Sector Banks accounted for nearly two third of the customer complaints received during last financial year. A total number of 72,889 complaints were received in the offices of the Banking Ombudsmen spread across the country against the Scheduled Commercial Banks during the period from June, 2011 to July, 2012, out of which 48,180 were… Read More

Tags: BankCommercial bankIndiaMinister of State for FinanceRajya SabharbiReserve Bank of IndiaRun batted in

No change in RBI policy on not issuing fresh proposals for new Urban Cooperative Banks

The number of Urban Cooperative Banks (UCBs) whose license was cancelled in the last three years are, 31 in 2009-10, 12 in 2010-11 and 14 in 2011-12. Reserve Bank of India (RBI), the licensing authority for UCBs announced in the Annual Policy Statement (2004-05) that no fresh proposals for new UCBs would be considered till… Read More

Tags: Minister of State for FinancerbiReserve Bank of IndiaUrban Cooperative Banks

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