Daily Archives: November 27, 2016

Chest Guarantee Scheme for SBN Deposits (CGSS) at District Level -RBI Guidelines

RBI/2016-17/160 DCM (Plg) No. 1430/10.27.00/2016-17 November 27, 2016 The Chairman / Managing Director/ Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural Banks / Urban Cooperative Banks/ State Cooperative Banks Dear Sir Chest Guarantee Scheme for Specified Bank Notes (SBNs) – CGSS Please refer to our circular DCM (Plg) No.1383/10.27.00/2016-17… Read More »

Capital Goods Definition Changed in New Draft Model GST Law

Capital Goods Definition under Model GST Law Definition of Capital Goods as per the New Draft Model GST Law, released by CBEC on 25.11.2016 – “capital goods” means goods, the value of which is capitalised in the books of accounts of the person claiming the credit and which are used or intended to be used in the course or… Read More »

Taxable person- Section 10 of New Draft Model GST Law

Taxable person Section 10 of Draft Model GST Law  [ Released by CBEC on 25.11.2016 ] Taxable person  (1) Taxable Person means a person who is registered or liable to be registered under Schedule V of this Act. (2) A person who has obtained or is required to obtain more than one registration, whether in one State… Read More »

Anti-profiteering Measure – Section 163 of New Draft Model GST Law

Anti-profiteering Measure Section 163 of Draft Model GST Law  [ Released by CBEC on 25.11.2016 ] Anti-profiteering Measure (1) The Central Government may by law constitute an Authority, or entrust an existing Authority constituted under any law, to examine whether input tax credits availed by any registered taxable person or the reduction in the price on… Read More »

IDS 2016 -Acceptance of payments by banks through ITNS-286

 [Related Post Download IDS (Income Declaration Scheme) 2016 Challan for Payment :ITNS 286 ] No.RB/CIR/OTC-IDS/1404A November 25, 2016 The Chief Executives of All Member Banks Dear Sir/Madam, Income Declaration Scheme 2016 – Grievance regarding non-acceptance by banks of payments under IDS, 2016 through ITNS-286 We have received a communication dated November 23, 2016 from RBI on the… Read More »

All 4041 cities/towns asked to shift to cashless transactions

All 4,041 cities/towns asked to shift to cashless transactions; Madhya Pradesh to do so by March next year Internet banking, Online payments and PFMS to be adopted Shri M.Venkaiah Naidu launched cashless transaction facility of Visakhapatnam Corporation As a part of the ongoing efforts to move towards cashless transactions of all kind, the Ministry of… Read More »

Text of PM’s ‘ Mann Ki Baat ‘ on AIR on 27 November 2016

Text of PM’s ‘Mann Ki Baat’ address on All India Radio on 27 November 2016 मेरे प्यारे देशवासियो, नमस्कार। पिछले महीने हम सब दिवाली का आनंद ले रहे थे। हर वर्ष की तरह इस बार दिवाली के मौके पर, मैं फिर एक बार जवानों के साथ दिवाली मनाने के लिये, चीन की सीमा पर, सरहद… Read More »

Section 42(1A) Requirement for maintaining additional CRR by Schedule Banks

Reserve Bank of India Act, 1934 – Section 42(1A) Requirement for maintaining additional CRR RBI/2016-17/159 DBR.No.Ret.BC.41/12.01.001/2016-17 November 26, 2016 The Chairperson / CEOs of all Scheduled Commercial Banks/ Regional Rural Banks / All Scheduled Primary (Urban) Co-operative Banks / All Scheduled State Co-operative Banks Dear Sir, Reserve Bank of India Act, 1934 – Section 42(1A)… Read More »