"18 May 2017" Archive

Draft ‘Fugitive Economic Offenders Bill, 2017’ -Govt invite comments

It is widely felt that the spectre of high-value economic offenders absconding from India to defy the legal process seriously undermines the rule of law in India. It is, therefore, felt necessary to provide an effective, expeditious and constitutionally permissible deterrent to ensure that such actions are curbed....

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Posted Under: Fema / RBI |

104 Transfers and postings in the grade of ACIT / DCIT (Local changes)

The following postings/ transfers in the grade of Assistant/ Deputy Commissioner of Income Tax (Local Change) are, hereby, ordered with immediate effect and until further orders...

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Fast Tracking Skill Development

‘Skill building’ and ‘knowledge’ are quintessential for economic growth of any country in today’s world. More so for a country like India where 13 million youth are estimated to enter the job market annually. There is another reason too which makes ‘skill building’ an imperative for the growth of country’s economy. ...

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Posted Under: Fema / RBI |

MEIS Scheme being re-designed to make exports GST compliant

Merchandise Exports from India Scheme being re-designed to make exports GST- compliant; working capital needs under new tax regime being deliberated upon ...

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Posted Under: Fema / RBI |

Minimum qualifications & experience for CFO & CTO of Banks

RBI/2016-17/304 DBR.Appt.No.BC.68/29.67.001/2016-17 (18/05/2017)

A Chief Financial Officer (CFO) and Chief Technology Officer (CTO) in banks’ management structure would play a crucial role in strengthening and sustaining the banks’ risk governance framework....

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Customs Rate of foreign currency exchange WEF 19th May, 2017

Notification No. 49/2017-Customs (N.T.) (18/05/2017)

Indian currency or vice versa, shall, with effect from 19th May, 2017, be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods....

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SCOMET Export permission for ‘Stock & Sale’ purposes

Public Notice No. 07/2015-20 (17/05/2017)

The provision of SCOMET export authorization for Stock and Sale has been clarified and the procedure to be followed when seeking permission for re-export/retransfer of SCOMET items by the stockist entity to the ultimate end-user has been framed....

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Insolvency and Bankruptcy: The Road Ahead

The Insolvency and Bankruptcy Code is a transformational piece of legislation as it seeks to establish an ecosystem for handling Insolvency & Bankruptcy issues. The Code received Presidential Assent on 28th May, 2016 when the landmark Bill introduced in the Lok Sabha in November 2015 finally became an Act. ...

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Posted Under: Fema / RBI |

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