Daily Archives: December 28, 2016

Govt proposed jail to people holding old notes

 Holding demonetized notes of Rs 5,00 and 1,000 ? Govt of India to bring Ordinance The Union Cabinet has approved an ordinance to impose penalty and a jail term for people holding demonetized notes of Rs 5,00 and 1,000. Only specified category of people will be allowed to keep demonetized notes. However, anyone can possess… Read More »

Key Facts about your Paytm Account

Paytm Account Customer Helpline: 9643-979797, Merchant Helpline: 72109–72109 Over 17 crore Indians use Paytm in their daily lives. That’s a lot of people and a lot of usage. There are a few common queries that we get from our users, and we have tried to answer them in one consolidated post. Here we go… Does… Read More »

All About GST (Dec 2016- 5th edition) by V S Datey – Book

All About GST (Dec 2016 edition) by V S Datey A Complete Guide to New Model GST Law Link to Buy  All About GST (Dec 2016 edition) by V S Datey Author : V.S. Datey Edition : 5th Edition 2017 Date of Publication : Dec.2016 Binding : Paperback No. Of Pages : 536 Contents of Book  All About… Read More »

Public comments Invited on Report of Financial Redressal Agency

Government invites comments of stakeholders and public on the Report of the Financial Redressal Agency by 31st January 2017. In his Budget Speech of  2015-16, the Union Minister of Finance and Corporate Affairs Shri Arun Jaitley hadannounced the creation a sector-neutral Financial Redressal Agency (FRA) to address the grievances of retailconsumers against all Financial Service… Read More »

Public Comments invited on Report of the Committee on Digital Payments

Comments/suggestions invited from the members of public on the Report of the Committee on Digital Payments within 15 days of hosting the Report on the website After approval of the Cabinet, the Guidelines for the promotion of payments through cards and digital means were issued on February 29, 2016. Among the steps to be taken… Read More »

Govt Contractors have to provide digital payment option to Consumers – Committee Report

Today, most merchants do not accept digital payments. The Committee recommends that the Government should seize the initiative and require all government agencies and merchants where contracts are awarded by the government to provide at-least one suitable digital payment option to its consumers and vendors (Discussed in Section: Government Payments and Receipts). Read Complete Report Report… Read More »

Disincentives for usage of cash – Committee on Digital Payment Recommendation

Disincentives for usage of cash – Committee on Digital Payment Recommendation Implement disincentives for usage of cash a) Permit merchants including government agencies to levy a cash handling charge for payments in cash above a certain threshold. The cash handling charge so collected should be exclusively used fund new infrastructure for acceptance of digital payments… Read More »

Digital Payment Committee recommended to create DIPAYAN Fund in Budget 2017

Digital Payment Committee Recommendation Create a fund from savings generated from cash-less transactions: In the upcoming Union Budget 2017-18, a new Digital Payments Incentive Fund should be created, resourced from the savings generated by the Central Government from the movement towards less cash. a) This may be called DIPAYAN or Digital Payments Action Network, also… Read More »

Report of Committee on Digital Payments (Constituted by Govt of India )

Committee on Digital Payments December 2016 Constituted by MINISTRY OF FINANCE, GOVERNMENT OF INDIA Download Report of Committee on Digital Payments Report of the Committe on Digital Payments, chaired by Shri Ratan P. Watal, Principal Advisor, NITI Ayog and Former Finance Secretary (Dated :27th December, 2016) 1 .Acknowledgement The remit of the Committee was comprehensive and… Read More »

Check your CIBIL Score before Applying for Loan

CIBIL Score before Applying for Loan For every home buyer, the most important thing is to get the home loan application accepted by the lender.  Hence, it’s great to know where you stand financially before you are rejected by a lender so that you can make improvements to your CIBIL score. Benefits of maintaining good… Read More »

Pay wages to workers electronically : Delhi Govt order to Employers / Contractors

In a bid to promote digital transactions, the Delhi government has directed all employers and contractors in the city to pay wages to their workers either electronically or through cheques. The Labour Department of the Delhi government has issued an advisory asking all contractors and employers to adopt such mode of payments to disburse wages… Read More »

Position limits of Stock Brokers / FPIs / Mutual Funds for stock derivatives contracts

CIRCULAR SEBI/HO/MRD/DP/CIR/P/2016/143 December 27, 2016 To, All Stock Exchanges (except for Commodity Derivatives Exchanges). Dear Sir / Madam, Subject: Review of the position limits available to Stock Brokers / Foreign Portfolio Investors (FPIs) – Category I & II / Mutual Funds (MFs) for stock derivatives contracts The position limits for Trading Member / Foreign Institutional… Read More »

Potatoes permitted for export without any Minimum Export Price

(To be Published in the Gazette of India Extraordinary Part II Section 3, Sub Section (ii)) Government of India Ministry of Commerce & Industry Department of Commerce Udyog Bhawan Notification No. 32/2015-2020 New Delhi, Dated the 27 December, 2016 Subject: Export Policy of Potato — Removal of Minimum Export Price (MEP) on export of potatoes… Read More »