Daily Archives: June 3, 2016

New ports to allow import/export under EP schemes

Adds new ports in EP notifications to allow import/export under EP schemes from these ports 36/2016-Cus,dt. 01-06-2016 Related Post Security under section 59 (3) of the Customs Act 14 New Airports in India Railways for Port Connectivity to Boost Country’s Imports and Exports Govt Notify Land Ports Authority of India (Fees and Other Charges) Regulations,… Read More »

LPG Distributorships Unified Guidelines issued

Unified Guidelines for LPG Distributorships issued The Ministry of Petroleum and Natural Gas (MoPNG) is committed to provide clean fuel to all households in the country with key focus on rural and difficult areas. In this endeavor, strengthening supply chain of LPG distribution is one of the key initiatives of the Ministry. In this direction,… Read More »

Annual return of Service Tax

Annual return of Service Tax Amended provisions as per the Finance Act  2016 in respect of Annual return of Service Tax (Applicable w. e. f. 01.04.2016) Annual return of Service Tax Key features :- (i) Annual return of Service Tax shall be in addition to the half yearly returns filed by the assessee. Thus the… Read More »

Section 435 of Companies Act 2013

Section 435 of Companies Act 2013 Applicability of Section 435 of Companies Act 2013 NOTIFICATION NO. SO 1795(E) [F.NO.01/12/2009-CL-I (Vol. IV)], dated 18-5-2016.—In exercise of the powers conferred by sub-section (3) of section 1 of the Companies Act, 2013 (18 of 2013), the Central Government hereby appoints the 18th day of May, 2016 as the date… Read More »

Draft National Water Framework Bill ; suggestions invited

Suggestions invited on Draft National Water Framework Bill and Draft Model Bill for Conservation, Protection, Regulation and Management of Ground Water Ministry of Water Resources, River Development and Ganga Rejuvenation has uploaded the draft national water framework bill and draft model bill for conservation, protection, regulation and management of ground water on its website (http://mowr.gov.in).… Read More »

Designated authority under Direct Tax Dispute Resolution Scheme

LETTER [F.NO.279/MISC/M-61/2016, DATED 1-6-2016 The Direct Tax Dispute Resolution Scheme 2016 (hereinafter referred to as the Scheme) introduced vide Finance Act, 2016 (28 of 2016), provides to the “declarant” a mechanism to resolve disputes pending before Commissioners of Income Tax (Appeals) as on 29-2-2016 and pertaining to “disputed tax”and/or “specified tax”. 2. The Scheme also… Read More »

Indirect Tax Dispute Resolution Scheme 2016 Instructions

F No 1080/06/DLA/IDRS/2016 Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs Directorate of Legal Affairs New Delhi the 01st June 2016 Instruction To All Chief Commissioners, Customs, Central Excise and Service Tax All Principal Commissioners/ Commissioners, Customs, Central Excise and Service Tax Sir, Subject: Indirect Tax Dispute Resolution… Read More »

Banks to implement Relief Measures in areas affected by Natural Calamities : RBI

RBI/2015-16/416 FIDD.FSD.BC.No.25/05.10.001/2015-16 June 2, 2016 The Chairman/ Managing Director / Chief Executive Officer [All Scheduled Commercial Banks, (excluding Regional Rural Banks)] Madam / Sir Implementation of Supreme Court Orders in Writ Petition by Swaraj Abhiyan against Union of India and others- Guidelines on Relief Measures by banks in areas affected by Natural Calamities During the… Read More »

Refinancing of Project Loans by NBFC : RBI Guidelines

RBI/2015-16/417 DNBR.CC.PD.No.082/03.10.001/2015-16 June 02, 2016 To All Non-Banking Financial Companies Dear Sirs, Refinancing of Project Loans Please refer to circular DNBS.(PD).CC.No.371/03.05.02/2013-14 dated March 21, 2014, issued by Department of Non-Banking Supervision on Early Recognition of Financial Distress, Prompt Steps for Resolution and Fair Recovery for Lenders: Framework for Revitalising Distressed Assets in the Economy. 2.… Read More »

Cyber Security Framework in Banks is must : RBI

RBI/2015-16/418 DBS.CO/CSITE/BC.11/33.01.001/2015-16 Jyeshtha 12, 1938 (saka) June 2, 2016 To The Chairman/ Managing Director /Chief Executive Officer All Scheduled Commercial Banks (excluding Regional Rural Banks) Madam / Dear Sir, Cyber Security Framework in Banks Introduction Use of Information Technology by banks and their constituents has grown rapidly and is now an integral part of the… Read More »

Return in Form CR-II for FY 2015-16 by 16th june 16 under Delhi Vat

GOVERNMENT OF THE NATIONAL CAPITAL TERRITORY OF DELHI DEPARTMENT OF TRADE AND TAXES NOTIFICATION Delhi, the 19th May, 2016 No. F.3( 628) /Policy/VAT/2016/238-50.—In exercise of the powers conferred on me under section 27 of the Delhi Value Added Tax Act, 2004 and in partial modification to the notification number F. 3(628)/Policy/ VAT/2016/1424-36 dated 11th February,… Read More »

Guidelines for evaluating/awarding tenders for shipbuilding, dry-docking and ship repair works

Guidelines for evaluating/awarding tenders for shipbuilding, dry-docking and ship repair works The Government has issued guidelines for evaluating and awarding tenders for shipbuilding, dry-docking and ship repair works for Government departments or agencies including Public Sector Undertakings. As a step towards supporting Indian shipbuilding and ship-repair industry, the Union Cabinet had, on December 9, 2015,… Read More »

Foreign Currency Exchange Rate Notified

Exchange Rate of Foreign Currency Relating To Imported and Export Goods Notified In exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs (CBEC) No.77/2016-CUSTOMS (N.T.), dated 19th May, 2016, except as respects things done… Read More »