Sovereign Gold Bond Scheme (SGB) 2020-21- Series VII, VIII, IX, X, XI, XII
Posted Date : 10-Oct-2020 , 09:39:48 am | Posted By: CASANSAAR
RBI/2020-2021/52
IDMD.CDD.No.730/14.04.050/2020-21
October 9, 2020
The Chairman& Managing Director
All Scheduled Commercial Banks,
(Excluding RRBs)
Designated Post Offices
Stock Holding Corporation of India Ltd.(SHCIL)
National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd.
Dear Sir/Madam,
Sovereign Gold Bond Scheme (SGB) 2020-21- Series VII, VIII, IX, X, XI, XII
Government of India has vide itsNotification No F.No4.(4)-B (W&M)/2020 dated October 9, 20...
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RBI |
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Export Data Processing and Monitoring System (EDPMS) Module for ‘Caution/De-caution Listing of Exporters’ - Review
Posted Date : 10-Oct-2020 , 09:39:10 am | Posted By: CASANSAAR
RBI/2020-2021/50
A.P. (DIR Series) Circular No.03
October 09, 2020
To
All Category - I Authorised Dealer Banks
Madam / Sir,
Export Data Processing and Monitoring System (EDPMS) Module for ‘Caution/De-caution Listing of Exporters’ - Review
Please refer to Para 4 ofStatement on Development and Regulatory Policies issued on October 9, 2020. In this connection, attention of Authorised Dealer Category – I banks (AD banks) is invited to Para 3.1 of theAPDIR Circula...
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FEMA |
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CBIC clarifies CGST ITC Rule 36(4) for Feb, 2020 to Aug, 2020
Posted Date : 10-Oct-2020 , 09:36:38 am | Posted By: CASANSAAR
Clarification relating to application of sub-rule (4) of rule 36 of the CGST Rules, 2017 for the months of February, 2020 to August, 2020 – reg.
Vide Circular No. 123/42/2019 – GST dated 11th November, 2019, various issues relating to implementation of sub-rule (4) of rule 36 of the Central Goods and Services Tax Rules, 2017 (hereinafter referred to as the CGST Rules) relating to availment of input tax credit (ITC) in respect of invoices or debit notes, the details of which have n...
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GST |
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MSME Loan Interest Subvention extended till 31.03.2021
Posted Date : 08-Oct-2020 , 09:11:22 am | Posted By: CASANSAAR
RBI/2020-21/48
DOR (PCB).BPD.Cir No.3/13.05.001/2020-21
October 7, 2020
The Managing Director / Chief Executive Officer
All Primary (Urban) Co-operative Banks
All State Co-operative Banks
All District Central Co-operative Banks
Dear Sir / Madam,
Interest Subvention Scheme for MSMEs – Co-operative banks
Government of India, Ministry of Micro, Small and Medium Enterprises (MSMEs) had announced the ‘Interest Subvention Scheme for MSMEs 2018’ on November 2, 2018 ...
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MSME |
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CBDT amends Form 3CD, Form No 3CEB, ITR6, & Inserted New Forms & Rules
Posted Date : 03-Oct-2020 , 10:44:48 am | Posted By: CASANSAAR
G.S.R. 610(E).—In exercise of the powers conferred by section 44AB, section 92E, clause (iv) of sub-section (2) of section 115BAA, sub-clause (iii) of clause (c) of sub-section (2) of section 115BAB, clause (iii) of sub-section (2), proviso to sub-section (3) and sub-section (5) of section 115BAC, clause (iii) of sub-section (2), proviso to sub-section (3) and sub-section (5) of section 115BAD read with section 295 the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes he...
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CBDT |
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Special procedure for issuance of GST e-Invoices till 31.10.2020 - CBIC
Posted Date : 03-Oct-2020 , 10:42:14 am | Posted By: CASANSAAR
G.S.R......(E). - In exercise of the powers conferred by section 148 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby notifies the registered persons required to prepare the tax invoice in the manner specified under sub-rule (4) of rule 48 of the Central Goods and Services Tax Rules, 2017, who have prepared tax invoice in a manner other than the said manner, as the class of persons who shall, during the period fro...
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GST |
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CBIC extends IGST exemption on 2 type of transportation Services
Posted Date : 01-Oct-2020 , 10:38:54 am | Posted By: CASANSAAR
G.S.R..605(E).—In exercise of the powers conferred by sub-section (3) and (4) of section 5, subsection (1) of section 6 and clause (xxv) of section 20 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), read with sub-section (5) of section 15 and section 148 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on being satisfied that it is necessary in the public interest so to do, on the recommendations of the Council, hereby makes the fo...
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GST |
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CBIC extends UTT exemption on 2 type of transportation Services
Posted Date : 01-Oct-2020 , 10:37:09 am | Posted By: CASANSAAR
G.S.R. 606(E).—In exercise of the powers conferred by sub-section (3) and (4) of section 7, subsection (1) of section 8 and clause (iv) and clause (xxvii) of section 21 of the Union Territory Goods and Services Tax Act, 2017 (14 of 2017) read with sub-section (5) of section 15 and section 148 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on being satisfied that it is necessary in the public interest so to do, on the recommendations of the Counci...
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GST |
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CBIC extends exemption on 2 type of transportation Services
Posted Date : 01-Oct-2020 , 10:33:12 am | Posted By: CASANSAAR
G.S.R. 604(E).—In exercise of the powers conferred by sub-section (3) and (4) of section 9, sub- section (1) of section 11, sub-section (5) of section 15 and section 148 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on being satisfied that it is necessary in the public interest so to do, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India, in the Ministry of Finance (Depa...
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GST |
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ST E-Invoice- CBDT amends rules related to IRN & QR Code
Posted Date : 01-Oct-2020 , 10:27:35 am | Posted By: CASANSAAR
G.S.R……(E). - In exercise of the powers conferred by section 164 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 rules further to amend the Central Goods and Services Tax Rules, 2017, namely:-...
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GST |
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Dynamic QR Code on B2C invoices requirement deferred to 01.12.2020
Posted Date : 01-Oct-2020 , 10:26:20 am | Posted By: CASANSAAR
G.S.R.....(E).—In exercise of the powers conferred by sixth proviso to rule 46 of the Central Goods and Services Tax Rules, 2017, the Government, on the recommendations of the Council, hereby makes the following amendments in notification of the Government of India in the Ministry of Finance (Department of Revenue), No.14/2020 – Central Tax, dated the 21st March, 2020, published in the Gazette of India, Extraordinary, Part II, Section 3, Subsection (i), vide number G.S.R. 197(E), dat...
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GST |
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CBIC extends due date of GSTR-9 & GSTR 9C to 31.10.2020
Posted Date : 01-Oct-2020 , 10:24:37 am | Posted By: CASANSAAR
G.S.R.....(E).– In exercise of the powers conferred by sub-section (1) of section 44 of the Central Goods and Services Tax Act, 2017 (12 of 2017), read with rule 80 of the Central Goods and Services Tax Rules, 2017, the Commissioner, on the recommendations of the Council, hereby makes the following amendment in the notification of Government of India in the Ministry of Finance (Department of Revenue), No. 41/2020-Central Tax, dated the 5th May, 2020, published in the Gazette of India, Extr...
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GST |
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CBIC amends rules related to E-Invoice Under GST
Posted Date : 01-Oct-2020 , 10:23:42 am | Posted By: CASANSAAR
G.S.R……(E). - In exercise of the powers conferred by sub-rule (4) of rule 48 of the Central Goods and Services Tax Rules, 2017, the Government, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 13/2020 – Central Tax, dated the 21st March, 2020, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number...
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GST |
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Order for extension of due date for filing ITRs for AY 2019-20 to 30.11.2020
Posted Date : 01-Oct-2020 , 10:17:25 am | Posted By: CASANSAAR
The date for furnishing of Income-tax returns under section 139 of the Income-tax Act, 1961 (' Act') for the Assessment Year 2019-20 was 31 st March, 2020. However, on consideration of difficulties being faced by the taxpayers due to COVID-19 pandemic, the said date was initially extended to 30th June,2020 and subsequently to 31" July,2020 and 30'h September,2020 vide the Taxation and other laws (Relaxations of certain provisions), Ordinance dated 31.03.2020, Notification No.35 ...
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Income Tax |
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Basel III Framework on Liquidity Standards – Net Stable Funding Ratio (NSFR)
Posted Date : 30-Sep-2020 , 08:21:05 am | Posted By: CASANSAAR
RBI/2020-21/43
DOR.BP.BC.No.16/21.04.098/2020-21
September 29, 2020
All Commercial Banks
(excluding Regional Rural Banks, Local Area Banks and Payments Banks)
Dear Sir/Madam,
Basel III Framework on Liquidity Standards – Net Stable Funding Ratio (NSFR)
Please refer to ourcircular DOR.BP.BC.No.46/21.04.098/2019-20 dated March 27, 2020on Net Stable Funding Ratio (NSFR) guidelines.
2. In view of the continued uncertainty on account of COVID-19, on a review, it has been deci...
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RBI |
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Basel III Capital Regulations - Review of transitional arrangements
Posted Date : 30-Sep-2020 , 08:20:15 am | Posted By: CASANSAAR
RBI/2020-21/42
DOR.BP.BC.No15/21.06.201/2020-21
September 29, 2020
All Commercial Banks
(Excluding Small Finance Banks, Payment Banks, RRBs and LABs)
Dear Sir/Madam,
Basel III Capital Regulations - Review of transitional arrangements
Please refer tocircular DOR.BP.BC.No.45/21.06.201/2019-20 dated March 27, 2020on ‘Basel III Capital Regulations - Review of transitional arrangements’.
2. In view of the continuing stress on account of COVID-19, it has been decided to...
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RBI |
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CBDT issues Guidelines under section 194-O (4) and section 206C (1-I) of the Income-tax Act, 1961
Posted Date : 30-Sep-2020 , 08:12:42 am | Posted By: CASANSAAR
Circular No. 17 of 2020
F. No. 370133/22/2020-TPL
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
(TPL Division)
****
Dated: 29th September, 2020
Sub.: Guidelines under section 194-O (4) and section 206C (1-I) of the Income-tax Act, 1961 —reg.
Finance Act, 2020 inserted a new section 194-0 in the Income-tax Act 1961 (hereinafter referred to as “the Act-) which mandates that with effect from 1st day of October, 2020, an e-c...
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CBDT |
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MCA extended Time for conducting EGMs through VC or OAVM till 31.12.2020
Posted Date : 29-Sep-2020 , 09:43:49 am | Posted By: CASANSAAR
In continuation to this Ministry’s General Circulars No.14/2020 dated 8th April, 2020, No.17/2020 dated 13th April, 2020 and No.22/2020 dated 15.06.2020 and after due examination and it: has been decided to allow companies to conduct their EGMs through VC or OAVM or transact. items through postal ballot in accordance with the framework provided in the aforesaid Circulars upto 31st December, 2020. All other requirements provided in the said Circulars shall remain unchanged....
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Companies Act |
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Relaxation for filing Charge related forms extended till 31.12.2020 - MCA
Posted Date : 29-Sep-2020 , 09:41:55 am | Posted By: CASANSAAR
In continuation to this Ministry’s General Circular No. 23/2020 dated 17.06.2020 [G.C.] and after clue examination and it has been decided to extend scheme till 31.12.2020. Accordingly, the figures “30.09.2020” and “01.10.2020” wherever they appear in the G.C. shalt be substituted with figures “31.12.2020” and “01.01.2021” respectively....
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Companies Act |
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MCA extended LLP Settlement Scheme 2020 to 31.12.2020
Posted Date : 29-Sep-2020 , 09:40:27 am | Posted By: CASANSAAR
In continuation to this Ministry’s General Circular No. 13/2020 dated 30.03.2020, in view of large scale disruption caused by the COVID-19 pandemic and after due examination, it has been decided to extend aforesaid scheme till 31st December, 2020. All other requirements provided in the said circular shall remain unchanged....
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Companies Act |
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MCA extended Companies Fresh Start Scheme, 2020 till 31.12.2020
Posted Date : 29-Sep-2020 , 09:38:55 am | Posted By: CASANSAAR
In continuation to this Ministry’s General Circular No.12/2020 dated 30.03.2020, in view of the large scale disruption caused by the COVID-19 Pandemic and after due examination, it has been decided to extend aforesaid scheme till 31st December, 2020. All other requirements provided in the said circular shall remain unchanged....
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Companies Act |
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Positive Pay System for Cheque Truncation System - RBI
Posted Date : 26-Sep-2020 , 09:48:01 am | Posted By: CASANSAAR
RBI/2020-21/41
DPSS.CO.RPPD.No.309/04.07.005/2020-21
September 25, 2020
The Chairman and Managing Director / Chief Executive Officer
All Scheduled Commercial Banks including Regional Rural Banks /
Urban Co-operative Banks / State Co-operative Banks /
District Central Co-operative Banks / Local Area Banks / Payment Banks /
Small Finance Banks / National Payments Corporation of India
Madam / Dear Sir,
Positive Pay System for Cheque Truncation System
Please refer to theStatement...
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RBI |
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Rs.500 cap on late fee for delay in filing Form GSTR-10
Posted Date : 22-Sep-2020 , 09:23:30 am | Posted By: CASANSAAR
Ministry Of Finance
(Department of Revenue)
(Central Board Of Indirect Taxes And Customs)
Notification No. 68/2020 – Central Tax
New Delhi, the 21st September, 2020
G.S.R. 573(E).—In exercise of the powers conferred by section 128 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act), the Government, on the recommendations of the Council, hereby waives the amount of late fee payable under section 47 of...
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GST |
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Rs.500 cap on late fee for delay in filing Form GSTR-4
Posted Date : 22-Sep-2020 , 09:21:04 am | Posted By: CASANSAAR
Ministry Of Finance
(Department of Revenue)
(Central Board Of Indirect Taxes And Customs)
Notification No. 67/2020 – Central Tax
New Delhi, the 21st September, 2020
G.S.R. 572(E).—In exercise of the powers conferred by section 128 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act), read with section 148 of the said Act, the Government, on the recommendations of the Council, hereby makes the followin...
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Category :
GST |
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Time limit for issuing invoices under GST in specified cases extended
Posted Date : 22-Sep-2020 , 09:19:15 am | Posted By: CASANSAAR
Ministry Of Finance
(Department of Revenue)
(Central Board Of Indirect Taxes And Customs)
Notification No. 66/2020 – Central Tax
New Delhi, the 21st September, 2020
G.S.R. 571(E).—In exercise of the powers conferred by section 168A of the Central Goods and Services Tax Act, 2017 (12 of 2017), read with section 20 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), and section 21 of the Union Territory Goods and Services Tax Act, 2017 (14 of 2017), the ...
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GST |
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RBI releases Handbook of Statistics on the Indian Economy 2019-20
Posted Date : 19-Sep-2020 , 09:52:48 am | Posted By: CASANSAAR
Today, the Reserve Bank released its annual publication titled “Handbook of Statistics on the Indian Economy, 2019-20” (HBS). This publication, the 22nd in the series, disseminates time series data on various economic and financial indicators relating to the Indian economy. The current volume contains 240 statistical tables covering national income aggregates, output, prices, money, banking, financial markets, public finances, foreign trade and balance of payments and select socio-ec...
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RBI |
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Administrative instructions for recovery of interest on net cash tax liability w.e.f. 01.07.2017
Posted Date : 19-Sep-2020 , 09:50:41 am | Posted By: CASANSAAR
Based on the recommendations of the 35th meeting of the GST Council held on 21st June, 2019, the provision of section 50 was amended vide section 100 of the Finance (No. 2) Act, 2019 to provide for charging interest on the net cash tax liability. The said amendment was to be made effective from a date to be notified by the Government. Accordingly, the said provision was made effective vide notification No. 63/2020 — Central Tax dated the 25th August. 2020, w.e.f. 01.09.2020....
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GST |
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Govt introduces Taxation Law Amendment Bill in Lok Sabha
Posted Date : 19-Sep-2020 , 09:44:43 am | Posted By: CASANSAAR
THE TAXATION AND OTHER LAWS (RELAXATION AND AMENDMENT OF CERTAIN PROVISIONS) BILL, 2020...
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Category :
Income Tax |
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0 | Hits : 634
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Guidelines for compulsory selection of returns for Complete Scrutiny during the FY 2020-21
Posted Date : 18-Sep-2020 , 09:42:37 am | Posted By: CASANSAAR
Keeping in view of the Faceless Assessment Scheme,2020 implemented by the Department and the difficulties being faced amid COVID-19 pandemic, the parameters for compulsory selection of returns for Complete Scrutiny during Financial Year 2020-21 and conduct of assessment proceedings in such cases are prescribed as under:...
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Category :
Income Tax |
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Automation of Income Recognition, Asset Classification and Provisioning processes in banks
Posted Date : 15-Sep-2020 , 09:56:33 am | Posted By: CASANSAAR
RBI/2020-21/37
Ref. No. DoS.CO.PPG./SEC.03/11.01.005/2020-21
September 14, 2020
The Chairman / Managing Director / Chief Executive Officer
All Scheduled Commercial Banks (Excluding RRBs) and
All Small Finance Banks
Madam / Dear Sir,
Automation of Income Recognition, Asset Classification and Provisioning processes in banks
We invite a reference to our circular DBS.CO.PPD.No.1950/11.01.005/2011-12 dated August 04, 2011, in terms of which banks were advised, inter alia, to have ap...
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RBI |
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