Daily Archives: March 10, 2017

RBI App- Now RBI website at your fingertips

Date : Mar 10, 2017 The Reserve Bank of India today formally launched a mobile application (app) version of the Reserve Bank of India’s website (www.rbi.org.in). The app is available on Android as well as iOS platforms and can be downloaded from the Play Store/App Store in one’s Android phone/iPhone, respectively, using the keyword “Reserve… Read More »

How to Open Demat Account

How to Open Demat Account Step 1 to  Open Demat Account Step 2 to  Open Demat Account Step 3 to  Open Demat Account Step 4 to  Open Demat Account Source ncfeindia

Who will pass CGST , UGST and SGST Bill

Goods and Service Tax (GST) Bill The 122nd Constitution Amendment Bill, 2014 has been passed by the Parliament and after ratification by fifty percent of the States, the same has been enacted as 101st Constitution Amendment, Act, 2016. No Goods and Service Tax (GST) Bill has so far been passed. The Central Goods and Services… Read More »

Category: GST

Direct and Indirect Tax collection upto February 2017

Net Indirect Tax collection upto February 2017 stood at Rs 7.72 lakh crore, 22.2% more than the corresponding period last year Net Direct Tax collections upto February 2017 stood at Rs. 6.17 lakh crore, 10.7% more than the corresponding period last year Indirect Taxes            The figures for indirect tax collections (Central Excise, Service Tax… Read More »

Roll out of GST-1st July 2017 in India

Roll out of GST-1st July 2017; Draft CGST Law and Draft IGST Law approved in the 11th Council Meeting held on 4 March 2017 The GST Council in its 9th Meeting held on 16 January 2017 took note of the work to be completed for the rollout of GST and after deliberations, agreed to extend… Read More »

Steps taken by Government of India to curb generation of black money

Steps taken by Government to curb the generation of black money Action against black money is an on-going process. Such actions include policy-level initiatives, effective enforcement action on the ground, putting in place robust legislative and administrative frameworks, systems and processes with due focus on capacity building and integration and mining of information through increasing… Read More »

Lodging of complaints with CBI in cases of fraud by commercial banks

Lodging of complaints with CBI in cases of fraud /embezzlement by commercial banks and select Financial Institutions Reserve Bank of India (RBI) Master Directions dated 01.07.2016 on Frauds-Classification and Reporting by commercial banks and select Financial Institutions, inter alia, provide as follows, in regard to lodging of complaints with CBI in cases of fraud /embezzlement:-… Read More »

Website to check Live result of Elections of 5 states

Dissemination of Trends and Results of General Elections of 5 Assemblies to start at 8 am tomorrow through ECI website A Novel Initiative: ECI website to provide Comparative Analysis on Results of 5 Assembly Elections, 2017 with the 2012 polls Election Commission has set up robust, fool proof and secured infrastructure facility for disseminating Trends… Read More »

Can Person Availing GST Composition Scheme Purchase From Unregistered Person ?

Query: Under GST, if any person is availing Composition Scheme, can he purchase goods and services from unregistered Person ? Answer: A Composition supplier is required to make purchases only from registered taxpayers. In case, a composition supplier makes any purchases from an unregistered taxpayer, he would be liable to pay tax on reverse charge basis on all… Read More »

USA -IRS -Low Income Taxpayer Clinic List

Program Report and 2017 Publication 4134, Low Income Taxpayer Clinic List LITC Program Report The Internal Revenue Service’s Low Income Taxpayer Clinic (LITC) Program Office has issued its annual program report, which details how LITCs have provided representation, education, and advocacy for taxpayers who are low income or speak English as a second language (ESL).… Read More »

Issue of Rs 10 banknotes with improved security features by RBI

Issue of Rs 10 banknotes with improved security features The Reserve Bank of India will shortly issue ₹ 10 denomination banknotes in the Mahatma Gandhi Series-2005 with inset letter ‘L’ in both the number panels, bearing the signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India, and the year of printing ‘2017’ printed… Read More »

Category: RBI

7 new districts in Manipur – Assignment of Lead Bank Responsibility by RBI

RBI/2016-17/248 FIDD.CO.LBS.BC.No.23/02.08.001/2016-17 March 9, 2017 The Chairmen & Managing Directors All Lead Banks Dear Sir/Madam, Formation of seven new districts in the State of Manipur – Assignment of Lead Bank Responsibility The Government of Manipur vide Gazette Notification dated December 8, 2016 had notified the creation of seven new districts in the State of Manipur.… Read More »

Category: RBI

India-Belgium DTAA Amended

India and Belgium sign Protocol amending the India-Belgium Double Taxation Avoidance Agreement and Protocol Fighting the menace of Black Money stashed in offshore accounts is a key priority area for the Government India and Belgium have signed a Protocol amending the existing Agreement and Protocol between the two countries for Avoidance of Double Taxation and… Read More »