Notifications issued By RBI, CBEC, IRDA, CBDT, RBI and DGFT

Circular No. 152/3/2012-ST Service tax is not leviable on toll paid by the users of roads, including those roads constructed by a Special Purpose Vehicle (SPV) created under an agreement between National Highway Authority of India (NHAI) or a State Authority and the concessionaire (Public Private Partnership Model, Build-Own/Operate-Transfer arrangement). ‘Tolls’ is a matter enumerated (serial number 59) in List-II (State List), in the Seventh Schedule of the Constit.. Full Article

Reference has been received on import of molasses for use in hookah without compliance of the Cigarettes and other Tobacco Products (Packaging and Labelling) Rules, 2008 Rules, which prescribes the manner in which the specified health warning shall be displayed on the tobacco product packs covering all types of tobacco products produced, supplied and distributed in India. The Rules came into effect from 31st May, 2009 and a set of new pictorial health warning has been.. Full Article

The Quality Review Board has been reconstituted by the Ministry of Corporate Affairs vide notification dated February 6, 2012. Download notification Full Article

. Deficiencies which were witnessed in liquidity risk management during the recent crisis included inadequate liquidity risk management governance, failure to address funding concentrations, lack of meaningful cash flow projections to assess the liquidity position, insufficient holdings of high quality liquid assets, gaps in stress testing and inappropriate linkage of the contingency plans with stress tests, etc. The crisis, thus, highlighted the need for banks to have a.. Full Article

Notification No. 97 (RE-2010) /2009-2014 (i) Minimum Export Price of Basmati Rice has been reduced to US$ 700 per MT. Earlier it was US$ 900 or Rs. 41,400/- per MT FOB. MEP is expressed only in terms of US dollar. (ii) Export is now permitted through all EDI ports. Earlier it was allowed only through six ports. (iii) There is no change in any of the other existing conditions for export of basmati rice as have been notified from time to time. These conditions have be.. Full Article

With a view to liberalizing the procedure, it has been decided to permit AD Category- I banks to allow exporters to receive advance payment for export of goods which would take more than one year to manufacture and ship and where the ‘export agreement’ provides for shipment of goods extending beyond the period of one year from the date of receipt of advance payment subject to the following conditions:- Full Article

A.P. (DIR Series) Circular No. 82 - Attention of all the Authorised Dealers (ADs) in foreign exchange is invited to the A.P.(DIR Series) Circular No. 106 dated June 19, 2003 in terms of which applications by persons, firms and companies for making payments, exceeding USD 500 or its equivalent towards imports into India must be made in Form A-1. Based on suggestions received from the various stake holders, the said limit has been reviewed and it has been decided as a mea.. Full Article

SEBI vide circular dated May 18, 2010 prescribed the framework for setting up of a stock exchange/trading platform by a recognized stock exchange having nationwide trading terminals for Small and Medium Enterprises (SMEs). . In this regard it has been decided to standardize the lot size for Initial Public Offer proposing to list on SME exchange/platform and for the secondary market trading on such exchange/platform, as given under: Full Article