RBI issues third Bi-monthly Monetary Policy Statement, 2017-18
On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to: reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 6.25 per cent to 6.0 per cent with immediate effect. Consequently, the reverse repo rate… Read More
RBI reduces Bank Rate from 6.50% to 6.25% w.e.f. 02.08.2017
RBI/2017-18/34 DBR.No.Ret.BC.82/12.01.001/2017-18 August 02, 2017 The Chairperson / CEOs of all Scheduled and Non Scheduled Banks Dear Sir / Madam, Change in Bank Rate Please refer to our circular DBR.No.Ret.BC.58/12.01.001/2016-17 dated April 06, 2017 on the captioned subject. 2. As announced in the Third Bi-Monthly Monetary Policy Statement 2017-18 dated August 02, 2017, the Bank Rate stands adjusted… Read More
RBI issues circular on amended Basel III Framework on Liquidity Standards
RBI/2017-18/36 DBR.BP.BC.No. 81/21.04.098/2017-18 August 02, 2017 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Basel III Framework on Liquidity Standards – Liquidity Coverage Ratio (LCR), Liquidity Risk Monitoring Tools and LCR Disclosure Standard Please refer to our circular DBOD.BP.BC.No.120/21.04.098/2013-14 dated June 9, 2014 “Basel III Framework on Liquidity Standards – Liquidity Coverage Ratio (LCR), Liquidity Risk Monitoring… Read More
RBI clarifies issue of comprehensive Credit Information Reports
RBI/2017-18/35 DBR.CID.BC.No.79/20.16.042/2017-18 August 2, 2017 All Credit Information Companies Dear Sir/Madam Issue of comprehensive Credit Information Reports Please refer to para (v) of Annex IV to our circular DBOD.No.CID.BC.127/20.16.056/2013-14 dated June 27, 2014 advising Credit Information Companies (CICs) to include information on all accounts, both current and past, of a customer having multiple borrowings, in her/his Credit… Read More
Import of Red Sanders is prohibited :DGFT
MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE) NOTIFICATION New Delhi, the 1st August, 2017 No. 17/2015-2020 Subject: Amendment in import policy conditions of items under Exim Code 44039918 under Chapter 44 of ITC (HS), 2017–Schedule–1 (Import Policy). S.O. 2432(E).—In exercise of powers conferred by Section 3 of FT (D&R)… Read More
CBEC clarifies on Leviability of IGST on High Sea Sales of imported goods
Circular No. 33 /2017-Cus F.No.450/131/2017-CusIV Government of India Ministry of Finance Department of Revenue (Central Board of Excise and Customs) New Delhi, dated the 1st August, 2017 TO, All Principal Chief Commissioners/Chief Commissioners of Customs / Customs (Preventive), All Principal Chief Commissioners/Chief Commissioners of Customs and Central Excise/ GST, All Principal Commissioners/Commissioners of Customs /… Read More
SEBI issues clarification on margin trading facility
CIRCULAR CIR/MRD/DP/ 86/2017 August 01, 2017 To, All Stock Exchanges Dear Sir/Madam, Sub: Margin Trading Facility- Clarification 1. SEBI vide circular CIR/MRD/DP/54/2017 dated June 13, 2017 prescribed comprehensive framework for permitting stock brokers to provide margin trading facility to their clients. 2. Representations have been received from the Stock brokers and their Association requesting to… Read More
CBEC rescinds notification no 63/2017-customs dated 05.07.2017.
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 69 /2017 -Customs New Delhi, the 31st July, 2017 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52… Read More
CBEC amends notification no 50/2017-cus dated 30.06.2017.
[TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF EXCISE AND CUSTOMS) NOTIFICATION No. 70 /2017-Customs New Delhi, the 31st July, 2017 G.S.R. (E). – In exercise of the powers conferred by sub-section (1) of section… Read More
MoL&E enters into agreement with banks or easy deposit & withdrawals of EPF Contributions
Agreements with Banks for easy deposit & withdrawals of EPF Contributions The Employees’ Provident Fund Organisation (EPFO) has tied up/entered into agreement with ten banks to collect EPFO dues and to make payments of Provident Fund (PF) withdrawals, pension and insurance to EPFO beneficiaries. These banks are State Bank of India, Punjab National Bank, Indian… Read More
Govt. sets up two call centres to cater to the queries on GST
Government sets up two call centres to cater to the queries relating to GST Government has set up two call centres being run for the purpose of catering to queries of taxpayers and stakeholders in GST. i. Call centre on GST Application software prepared by GSTN, is being run by GSTN. Phone number is 0120-4888999… Read More
Number of Income Tax payers increased after demonetisation:MoF
Increase in number of Income Tax payers after demonetisation The number of income tax payers has increased after demonetization. During the period of 09.11.2016 to 31.03.2017, 1.96 crore returns were filed as compared to 1.63 crore returns filed during corresponding period of FY 2015-16 and 1.23 crore returns filed during corresponding period of FY 2014-15.… Read More
Govt. mandates Aadhaar linkage to PAN cards
Mandating Aadhaar linkage to PAN cards Permanent Account Number (PAN) is the key identifier of taxable entity and aggregator of all financial transactions undertaken by one person. One PAN for one person is the guiding principle for allotment of PAN. However, for achieving the objective of one PAN to one assessee it is required to… Read More
Subscribe to the Daily Journal
Corporate Law Referencer
India’s Leading Compliance Software
