Daily Archives: August 11, 2016

No Adoption to Foreign couples without NOC from CARA

No Adoption to Foreign couples without NOC from CARA The Ministry of Women and Child Development had issued the Model Guidelines for Foster Care, 2015 to be adopted/adapted by the States/UTs as per their requirement. Central Adoption Resource Authority (CARA) has reported that the indulgence of adoption placement agencies in malpractices in offering children for… Read More »

Capacity Building in Banks and AIFIs : RBI Guidelines

RBI/2016-17/36 DBR.No.BP.BC.4/21.03.009/2016-17 August 11, 2016 All Commercial Banks and All India Financial Institutions (Exim Bank, NABARD, NHB and SIDBI) Madam / Sir, Capacity Building in Banks and AIFIs The Reserve Bank had constituted a ‘Committee on Capacity Building’ (July 2014) under the Chairmanship of former Executive Director, Shri G Gopalakrishna, with the objective of implementing… Read More »

Category: RBI

Priority Sector Lending status for Factoring Transactions :RBI Guidelines

RBI/2016-17/37 FIDD.CO.Plan.BC.10/04.09.01/2016-17 August 11, 2016 The Chairman/ Managing Director/ Chief Executive Officer [All Scheduled Commercial Banks (excluding Regional Rural Banks)] Dear Sir/ Madam, Priority Sector Lending status for Factoring Transactions Please refer to Master Direction FIDD.CO.Plan.1/04.09.01/2016-17 dated July 7, 2016 on Priority Sector Lending (PSL) and Guidelines dated December 3, 2014 for setting up of… Read More »

Category: RBI

GST: Centre may give more space to States on tax modalitie

GST: Centre may give more space to States on tax modalitie With just a little more than six months left for the targeted roll out of the goods and services tax (GST), the Centre has decided to adopt a multi-pronged strategy that includes giving more leeway to the States on working out tax modalities and… Read More »

Category: GST

States may table GST bill in winter Session

Hopeful that all states will be tabling bills on GST in winter session: Naidu Working overtime to get states on board over the GST following the passage of the Constitution amendment bill in Parliament, the government is keen to bring two bills aimed at implementing the new tax regime in the winter session to meet… Read More »

Category: GST

Taxable Event in GST (India)

Taxable Event in GST Key Points about Taxable Event in GST As per proposed Article 366 (12A) of Constitution of India,  Goods and Services Tax means a tax on supply of goods or services, or both, except taxes on supply of alcoholic liquor for human consumption Note that the word used is ‘supply’ and not ‘sale’. Thus two separate legal… Read More »

New Pension Scheme and Post-Retirement Medical Schemes for Employees of Food Corporation of India

Cabinet approves introduction of Pension and Post-Retirement Medical Schemes as part of superannuation benefits for Employees of Food Corporation of India The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for introduction of Pension and Post-Retirement Medical Schemes as part of superannuation benefits for Employees of Food Corporation of… Read More »

Maternity Benefit Act 1961 Amendment approved by Govt

Amendments to the Maternity Benefit Act, 1961 The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its ex-post facto approval for amendments to the Maternity Benefit Act, 1961 by introducing the Maternity Benefit (Amendment) Bill, 2016 in Parliament. The maternity benefit Act 1961 protects the employment of women during the time… Read More »