RBI grants ˜in-principle™ approval to NPCI to function as the central unit for Bharat Bill Payment Systems (BBPS)
The Reserve Bank of India has today decided to grant ˜in principle™ approval to the National Payments Corporation of India (NPCI) to function as the Bharat Bill Payment Central Unit (BBPCU) in BBPS. The Bharat Bill Payment System (BBPS), an integrated bill payment system, will function as a tiered structure for operating the bill payment… Read More
PAN based litigation Management System launched by I-T Department
Aimed to reduce lengthy proceedings and time taken in litigation, the Income Tax department has activated a PAN-based online system which enables the taxman to access cases in their jurisdiction on a click, amongst a building database of over 5 lakh appeals and 1.50 lakh judgements. The new facility is part of the National Judicial… Read More
DIPP releases Press Note No. 12(2015 Series) dated: 24th November, 2015 for FDI policy on various sectors
The Department Of Industrial Policy & Promotion(DIPP) Government of India has reviewed the extant FDI policy on various sectors and made following amendments in the Consolidated FDI Policy Circular of 2015 (FDI Policy), effective from May 12, 2015, and as amended from time to time. To view Press Note No. 12(2015 Series) dated: 24th November, 2015, please click… Read More
Version of Form 3 LLP is likely to be modified w.e.f 24th Nov 2015
The Ministry of Corporate Affairs has issued a Version of Form 3 LLP, which is likely to be modified with effective from 24th Nov 2015 between 09:00PM to 10:00 PM. Stakeholders are requested to plan accordingly Read More
Reviewed FDI regulations allow single-brand retail companies to go Ecommerce
Single-brand retail companies wanting to sell on Ecommerce platforms will be able to do so only if they have a licence for setting up physical outlets, according to revised foreign direct investment regulations. Any brand entering India will have to apply for a licence to set up stores and once it secures the licence, it… Read More
Setting up of Implementation Cell, Seventh Central Pay Commission in the Expenditure
Government of India Ministry of Finance Department of Expenditure North Block, New Delhi, Dated 20th November, 2015 OFFICE MEMORANDUM Subject: Setting up of Implementation Cell, Seventh Central Pay Commission in the Department of Expenditure An Implementation Cell for processing and implementing the accepted recommendations of the Seventh Central Pay Commission is set up in the… Read More
Frequently Asked Questions on SEBI (Share Based Employee Benefits) Regulations, 2014
FREQUENTLY ASKED QUESTIONS ON SEBI (SHARE BASED EMPLOYEE BENEFITS) REGULATIONS, 2014 1. In terms of proviso to regulation 3(12) of the SEBI (Share Based Employee Benefits) Regulations, 2014, the un-appropriated inventory of shares which is not backed by grants but has been acquired through secondary acquisition by the trust has to be sold on the… Read More
Rate of exchange of conversion of the foreign currency with effect from 20th November, 2015
GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF EXCISE AND CUSTOMS) Notification No. 112/2015 - Customs (N.T.) Dated the 19th November, 2015 In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Central Board of Excise… Read More
FREQUENTLY ASKED QUESTIONS (FAQ) on SWACHH BHARAT CESS (SBC)
SWACHH BHARAT CESS (SBC) FREQUENTLY ASKED QUESTIONS (FAQ) Background:Background: Chapter VI (Section 119) of the Finance Act 2015 contains provisions for levy and collection of Swachh Bharat Cess (SBC). Now the Government has announced 15th November, 2015 as the date from which the provisions of Section 119 would come into effect (notification No.21/2015-Service Tax, dated… Read More
Clarification on FDI Policy on Single Brand Retail Trading
Government of India Ministry of Commerce & Industry Department of Industrial Policy & Promotion Clarification on FDI Policy on Single Brand Retail Trading (as contained at para 6.2.16.3 of Consolidated FDI Policy Circular of 2015) Issue Clarification/ Comment Can the brand owner or non-resident entity/entities undertake single brand retail trading of the specific brand through… Read More
Workshop on Swachh Bharat Cess and Cenvat Credits under Excise and Service Tax
ICSI is organising a Workshop on Swachh Bharat Cess and Cenvat Credits under Excise and Service Tax and their relevance in GST 26 Nov, 2015 at PHD House, New Delhi. Stakeholders are requested to attend the same. To view more please access at the link given below: Workshop on Swachh Bharat Cess and Cenvat Credits… Read More
Implementation of UNSCR 2140(2014) and 2216(2015) pertaining to Yemen
RBI/2015-16/243 DBR.AML.No.6912/14.06.001/ 2015-16 November 20, 2015 The Chairpersons/ CEOs of all Scheduled Commercial Banks/ Regional Rural Banks/ Local Area Banks/All India Financial Institutions/ all NBFCs/ All Primary (Urban) Co-operative Banks /State and Central Co-operative Banks (StCBs / CCBs) /All Payment System Providers/ System Participants and Prepaid Payment Instrument Issuers/ All authorised persons including those who… Read More
Internet Banking Facility for Customers of Regional Rural Banks
CLR Note:The Reserve Bank of India (RBI) has issued a notification with Reference No. DBR.RRB.BC.No. 59/31.01.001/2015-16-16 dated November 19, 2015 in reference to Internet Banking Facility for Customers of Regional Rural Banks.The notification can be accessed as below: RBI/2015-16/242 DBR.RRB.BC.No. 59/31.01.001/2015-16 November 19, 2015 All Regional Rural Banks Dear Sir/Madam, Internet Banking Facility for Customers of Regional… Read More
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