"24 November 2016" Archive

No Exchange of demonetised Bank Notes from 25.11.2016

Notification No. S.O. 3543(E) (24/11/2016)

Central Government hereby further amends notification of the Government of India, in Ministry of Finance, Department of Economic Affairs number S.O. 3407 (E) dated 8th November, 2016 published in Gazette of India...

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ICAI- Admit cards – CPT December 2016

Admit cards in respect of candidates admitted to the CPT December 2016 examination, with their photographs and signatures on them, are hosted on icaiexam.icai.org...

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Posted Under: Fema / RBI |

FM reviews currency status & how to push cash less transactions

FM Shri Arun Jaitley said that one of major objectives of withdrawal of legal tender status on Rs. 500 and Rs. 1000 notes was to move Indian economy further towards digital transactions....

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Posted Under: Fema / RBI |

Measure to decongest storage facilities of bank notes

RBI/2016-17/153 DCM (Plg) No.1383/10.27.00/2016-17 (24/11/2016)

As you are aware there is a massive accumulation of SBNs at branches of banks and currency chests putting strain on processing capacities and storage facilities. This is slowing down the deposit of accumulated SBNs into chests....

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Demonetisation : A Misguided Missile fired in Haste

I appreciate intention of Government for demonetization of currency as it might have taken in good spirit for betterment of people as well as our nation. However, following questions/issues which are being circulated through media / social media still remained unanswered which is raising doubts in the minds of common man and need to be cl...

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Posted Under: Fema / RBI | ,

Migration and enrolment of existing taxpayers under GST

All the existing registrants having a Permanent Account Number will be issued a provisional registration certificate in Form GST REG-21.Such Certificate shall be valid for an initial period of six months (or an extended period, as may be notified by the Central Government/State Government on recommendation of the Council) from the date of...

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Posted Under: Fema / RBI | ,

Place of supply of goods – Model GST law

In order to determine whether a supply is interstate or intra state, both the location of the supplier and the place of supply are relevant. If the location of the supplier and the place of supply are in different states, then in that it will be considered as an Inter-state supply and IGST will be levied...

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Posted Under: Fema / RBI |

Ordinary Course of Business under Companies Act, 2013

Since the introduction of the Company’s Act Provisions and especially in the context of Sec. 180, 185 & 188 etc., Ordinary course of business word becomes the matter of discussion. Like, as per section 188, if Company does the transaction on the arm’s length basis and in the nature of ordinary course of business then no approval requi...

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Posted Under: Fema / RBI |

NBFC takeover Procedure

Following is the Procedure for NBFC takeover- Acquirer of NBFC can first go through the documents of the Target company and once Acquirer confirms the Acquisition of the said NBFC, MOU to be signed with some token money....

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Posted Under: Fema / RBI |

Woman directorship – preceptive or expedient

With the introduction of new Companies Act, 2013, there’s mandatory inclusion of at least one woman director in the Board of every prescribed class of companies...

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Posted Under: Fema / RBI |
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