"29 September 2016" Archive - Page 3

Aadhaar-based Authentication for Card Present Transactions

RBI/2016-17/70 DPSS.CO.PD No.892/02.14.003/2016-17 29/09/2016

A reference is invited to our circular dated November 26, 2013 on Security and Risk Mitigation Measures for Card Present Transactions wherein the banks were advised that all new card present infrastructure has to be enabled for both EMV Chip and PIN and Aadhaar (biometric validation) acceptance....

‘Doubling Farmers’ Income by 2022-Measures

FIDD.CO.LBS.BC.No.16 /02.01.001/2016-17 29/09/2016

As you are aware, the Government of India in the Union Budget 2016-17 had announced its resolve to double the income of farmers by 2022. Several steps have been taken towards attaining this objective including setting up of an inter-ministerial committee for preparation of a blue print for the same. This agenda has also been reiterated by...

Master Circular- Credit Facilities to Minority Communities – Modification

RBI/2016-17/67 FIDD.GSSD.BC.No.15/09.10.01/2016-17 29/09/2016

The Lead Banks in the identified districts should furnish the relevant extracts of the agenda notes and the minutes of the meetings of the DCCs and of the respective SLBCs to the Union Ministry of Finance and to the Ministry of Minority Affairs on a quarterly basis for their use...

Common Sense: The Most Scarce of All Natural resources

Generally, with the rise in literacy and income levels, the standard of living should go up. This is not so with the present society. Most people boast of having senses like the Knowledge sense, Money sense, Digital sense, Health sense, Dress sense, Civic sense, etc....

Posted Under: Fema / RBI |

Statewise Status of Ratification of GST Bill

The GST Bill was passed in accordance with the provisions of Article 368 of the Constitution, and must be ratified by more than half of the State Legislatures, as required under Clause (2) of the said article. On 12 August 2016, Assam became the first state to ratify the bill, when the Assam Leglisative Assembly unanimously ratified it. ...

Posted Under: Fema / RBI | ,

Interest rates on Small Savings Schemes for Oct,16 to -Dec,16

F.No. 1/04/2016-NS.II 29/09/2016

On the basis of the decision of the Government, interest rates for small savings schemes are to be notified on quarterly basis. Accordingly. the rates of interest on various small savings schemes for the third quarter of financial year 2016-17 starting on 1st October, 2016 and ending on 31st December, 2016...

Constitution of Monetary Policy Committee under RBI Act, 1934

S.O. 3081(E) 29/09/2016

In exercise of the powers conferred by section 45ZB of the Reserve Bank of India Act, 1934 (2 of 1934), the Central Government hereby constitutes the Monetary Policy Committee of the Reserve Bank of India, consisting of the following, namely:-...

Monetary Limits for adjudication of SCN in Central Excise /Service Tax

Circular No. 1049/37/2016-Central Excise 29/09/2016

Kind attention is invited to the following circulars issued by the Board regarding adjudication of cases in Central Excise and Service Tax. In supersession of these circulars and any other circular issued on the above subject, instructions from paragraph 2 onwards are hereby issued to revise the existing monetary limits for adjudication a...

Implications of GST on inter-state transactions of goods & services

According, to model IGST law, IGST shall mean the tax levied under the IGST act on the supply of any goods and services in the course of inter-state trade or commerce. IGST act shall apply to whole of India....

Posted Under: Fema / RBI |

HVAT Amnesty Scheme for Builders – In depth analysis

Haryana Government vide Notification No. No 19/ST-1/ H.A. 6/2003/S.59A/2016 dated 12th September, 2016 launched much awaited Amensty Scheme for Developers- Haryana Alternative Tax Compliance Scheme for Contractors, 2016 (hereinafter referred to as ‘Amnesty Scheme’). The potentially trade smoothening scheme provides Developers/Builders...

Posted Under: Fema / RBI |

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