Govt. notifies NACIN as the authority for conducting the examination for GST Practitioners under CGST Rules, 2017

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) NOTIFICATION New Delhi, the 28th May, 2018 No. 24 /2018–Central Tax G.S.R. 503(E).—In exercise of the powers conferred by section 48 of the Central Goods and Services Tax Act, 2017 (12 of 2017) read with sub-rule (3) of rule 83 of the… Read More

Govt. notifies levy of PSLC under Reverse Charge Mechanism under Integrated Tax

NOTIFICATION New Delhi, the 28th May, 2018 No. 12/2018-Integrated Tax (Rate) G.S.R. 506(E).—In exercise of the powers conferred by sub-section (3) of section 5 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following further amendments in the notification of… Read More

Govt. notifies levy of PSLC under Reverse Charge Mechanism under Union Territory Tax

NOTIFICATION New Delhi, the 28th May, 2018 No. 11/2018- Union Territory Tax (Rate) G.S.R. 505(E).—In exercise of the powers conferred by sub-section (3) of section 7 of the Union Territory Goods and Services Tax Act, 2017 (14 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following further amendments in… Read More

Govt. notifies levy of PSLC under Reverse Charge Mechanism under Central Tax

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 28th May, 2018 No. 11/2018-Central Tax (Rate) G.S.R. 504(E).—In exercise of the powers conferred by sub-section (3) of section 9 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following… Read More

E-Way Bill system to roll out for intra-State movement of goods in the Maharashtra, Manipur and Union Territories

Ministry of Finance   24 MAY 2018 As per the decision of the GST Council, e-Way Bill system for inter-State movement of goods has been rolled out from 1st April, 2018. As on 23rd May, 2018, e-Way Bill system for intra-State movement of goods has been rolled out in the States of Andhra Pradesh, Arunachal Pradesh, Assam, Bihar,… Read More

SEBI issues circular on Segregated Nominee Account Structure in IFSC

CIRCULAR SEBI/HO/MRD/DRMNP/CIR/P/2018/83 May 24, 2018 All recognized Stock Exchanges and recognized Clearing Corporations in IFSC Dear Sir/Madam Segregated Nominee Account Structure in International Financial Service Centre (IFSC) With a view to further facilitate ease of market access for foreign investors in IFSC and based on feedback received from market participants, it has been decided to… Read More

Govt. extends time of the Task Force for drafting a New Direct Tax Legislation

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 22nd May, 2018 PRESS RELEASE Extension of time of the Task Force for drafting a New Direct Tax Legislation A Task Force was constituted by the Government in November,2017 to review the existing Income-tax Act, 1961 and to draft… Read More

Govt. rescinds notification no. G.S.R. 319(E), w.e.f. 25th May 2018

NOTIFICATION New Delhi, the 21st May, 2018 No. 11/2018-Union Territory Tax G.S.R. 471(E).—In exercise of the powers conferred under sub-section (1) of section 22 of the Union Territory Goods and Services Tax Act, 2017 (No. 14 of 2017) and section 164 of Central Goods and Services Tax Act, 2017 (No. 12 of 2017) read with… Read More

Govt. rescinds notification number G.S.R. 315 w.e.f. 25th May 2018

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 21st May, 2018 No. 10/2018-Union Territory Tax G.S.R. 470(E).—In exercise of the powers conferred under sub-section (1) of section 22 of the Union Territory Goods and Services Tax Act, 2017 (No. 14 of 2017) and section 164 of Central Goods and Services Tax Act, 2017… Read More

SEBI issues circular on Investment of own funds by Clearing Corporations in IFSC

Securities and Exchange Board of India CIRCULAR SEBI/HO/MRD/DRMNP/CIR/P/2018/82 May 21, 2018 All recognized Clearing Corporations in International Financial Services Centre (IFSC) Dear Sir / Madam Investment of own funds (excluding funds lying in Core Settlement Guarantee Fund) by Clearing Corporations in International Financial Services Centre (IFSC) SEBI vide circular SEBI/HO/MRD/DRMNP/CIR/P/2016/54 dated May 04, 2016, has… Read More

RBI issues directions for setting up of IFSC Banking Units (IBUs)

RBI/2017-18/177 DBR.IBD.BC. 105/23.13.004/2017-18 May 17, 2018 All Scheduled Commercial Banks (excluding Regional Rural Banks) Dear Sir/Madam Setting up of IFSC Banking Units (IBUs) – Permissible activities Please refer to RBI circular DBR.IBD.BC.14570/23.13.004/2014-15 dated April 01, 2015, as modified from time to time, setting out RBI directions relating to IFSC Banking Units (IBUs). 2. In terms of para… Read More

RBI issues final guidelines for Basel III Framework on Liquidity Standards – Net Stable Funding Ratio

RBI/2017-18/178 DBR.BP.BC.No.106/21.04.098/2017-18 May 17, 2018 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Basel III Framework on Liquidity Standards – Net Stable Funding Ratio (NSFR) – Final Guidelines The Net Stable Funding Ratio (NSFR) and Liquidity Coverage Ratio (LCR) are significant components of the Basel III reforms. The LCR guidelines which promote short term resilience… Read More

Govt. extends date for filing return in FORM GSTR-3B for the month of April, 2018

Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs Notification No. 23/2018 – Central Tax New Delhi, the 18th May, 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) read with sub-rule (5)… Read More

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