Master Circular on Import of Goods and services
RBI/2014-15/4 Master Circular No.13/2014-15 July 01, 2014 To, All Category I Authorised Dealer Banks Madam / Sir, Master Circular on Import of Goods and Services Import of Goods and Services into India is being allowed in terms of Section 5 of the Foreign Exchange Management Act 1999 (42 of 1999), read with Notification No. G.S.R.… Read More
Master Circular on Exports of Goods and Services
RBI/2014-15/5 Master Circular No.14/2014-15 July 01, 2014 To, All Category I Authorised Dealer Banks Madam / Sir, Master Circular on Exports of Goods and Services Export of Goods and Services from India is allowed in terms of clause (a) of sub-section (1) and sub-section (3) of Section 7 of the Foreign Exchange Management Act 1999… Read More
Master Circular on External Commercial Borrowings and Trade Credits
RBI/2014-15/3 Master Circular No. 12/ 2014-15 July 01, 2014 To All Authorised Dealer Category I banks and Authorised banks Madam / Sir Master Circular on External Commercial Borrowings and Trade Credits External Commercial Borrowings and Trade Credits availed of by residents are governed by clause (d) of sub-section 3 of section 6 of the Foreign… Read More
Master Circular on Money Transfer Service Scheme
RBI/2014-15/13 Master Circular No.1/2014-15 July 1, 2014 To All Authorised Persons, who are Indian Agents under the Money Transfer Service Scheme Madam / Sir, Master Circular on Money Transfer Service Scheme Money Transfer Service Scheme (MTSS) is a quick and easy way of transferring personal remittances from abroad to beneficiaries in India. Only inward personal… Read More
Master Circular on Miscellaneous Remittances from India Facilities for Residents
RBI/2014-15/10 Master Circular No. 6/2014-15 July 1, 2014 To, All Authorised Persons in Foreign Exchange Madam / Sir, Master Circular on Miscellaneous Remittances from India Facilities for Residents Miscellaneous remittance facilities for residents are allowed in terms of section 5 of the Foreign Exchange Management Act, 1999, read with Government of India Notification No. G.S.R… Read More
Master Circular on Direct Investment by Residents in Joint Venture (JV) / Wholly Owned Subsidiary (WOS) Abroad
RBI/2014-15/2 Master Circular No. 11/2014-15 July 01, 2014 To, All Authorised Dealer Category - I banks Madam / Sir, Master Circular on Direct Investment by Residents in Joint Venture (JV) / Wholly Owned Subsidiary (WOS) Abroad Direct investments by residents in Joint Venture (JV) and Wholly Owned Subsidiary (WOS) abroad are being allowed, in… Read More
Compounding of Contraventions Under FEMA, 1999
The compounding of contraventions under Foreign Exchange Management Act (FEMA), 1999 is a voluntary process by which an applicant can seek compounding of a contravention of any provision of FEMA, 1999 under Section 13(1) of the FEMA, 1999. This Circular consolidates the existing instructions on the subject of "Compounding of Contraventions under FEMA, 1999" at one… Read More
Master Circular – Lending to Micro, Small & Medium Enterprises (MSME) Sector
RBI/2014-15/93 RPCD.MSME & NFS.BC.No. 3/06.02.31/2014-15 July 1, 2014 The Chairman/Managing Director/Chief Executive Officer All Scheduled Commercial Banks (excluding Regional Rural Banks) Dear Sir / Madam Master Circular - Lending to Micro, Small & Medium Enterprises (MSME) Sector As you are aware, the Reserve Bank of India has, from time to time, issued a number of… Read More
Master Circular on Establishment of Liaison / Branch / Project Offices in India by Foreign Entities
The Reserve Bank of India has issued Master Circular which consolidates the existing instructions on the subject of Establishment of Branch/Liaison/Project Offices in India by Foreign Entities" at one place dated 1.07.2014. The list of underlying circulars/notifications consolidated in this Master Circular is furnished in the Appendix as provided in the circular. This Master Circular… Read More
Company Secretaries declared as ‘accountant’ under U.P. VAT Act
The Uttar Pradesh government has released the The Uttar Pradesh Value Added Tax (Fifth Amendment) Rules, 2014 on 27.06.2014, thereby including Company Secretaries in the definition of "accountant" specified under the rules. This is a big recognition for the CS professionals to play a vital role in the field of Indirect Taxation (VAT etc.) and… Read More
Sweat Equity under Companies Act, 2013
Sweat equity shares means such equity shares as are issued by a company to its directors or employees at a discount or for consideration, other than cash, for providing their know-how or making available rights in the nature of intellectual property rights or value additions, by whatever name called. Employee means (a) a permanent… Read More
Ministry notified Companies (cost record and audit) Rules, 2014
The Ministry of Corporate Affairs has notified and issued the much awaited Companies (cost record and audit), Rules, 2014 dated 30.06.2014 thereby providing clarifications with respect to each and every aspect dealing with provisions of cost auditors and classes of companies requiring cost audit. The rules can be accessed at the link given below. Companies… Read More
Filing of Form DPT-4 (Deposits) deferred till 31st August, 2014
The Ministry of Corporate Affairs has issued a circular no. 27/2014 dated 30th June, 2014, providing clarification with regard to the filing of Form DPT-4 under the provisions of Companies Act, 2013. As required by section 74(1) of the Companies Act, 2013 and the rules made there under, companies are required to file a statement… Read More
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