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Archive: 25 October 2016

Posts in 25 October 2016

RBI advised Change of ATM Card Pin & Passwords Periodically

October 25, 2016 2038 Views 0 comment Print

RBI has urged ATM Card holders that it is a good practice to change the PIN and passwords periodically and not to share them with anyone for any reason. It has also cautioned that banks do not ask for card or account details from their customers.

FEM (Foreign Exchange Derivative Contracts) (Amendment) Regulations, 2016

October 25, 2016 883 Views 0 comment Print

5B Permission to a person resident outside India to enter into exchange traded currency derivatives A person resident outside India who is exposed to Rupee currency risk arising out of:

Notification No. 130/2016 -Customs (N.T.), dated 25th October, 2016

October 25, 2016 871 Views 0 comment Print

Central Government Rescinds notification No. 66/1996 dated the 2nd September, 1996 vide its Notification No. 130/2016 -Customs (N.T.), dated 25th October, 2016

Notification No. 129/2016 -Customs (N.T.), dated 25th October, 2016

October 25, 2016 1180 Views 0 comment Print

Regarding appointment of Common Adjudicating Authority Notification No. 129/2016 -Customs (N.T.), dated 25th October, 2016

Notification No. 128/2016 -Customs (N.T.), dated 25th October, 2016

October 25, 2016 1369 Views 0 comment Print

Regarding appointment of Common Adjudicating Authority Notification No. 128/2016 -Customs (N.T.), dated 25th October, 2016

Appearance & Audit under GST Law Domain of Advocates

October 25, 2016 32197 Views 60 comments Print

In conclusion, only person licensed to practice law in India should issue Audit Certificate under GST Law. If such authority for Appearance & audit given to Chartered Accountants, situation may arise that order of assessing authority in proposed GST Law, passed against the audit & representation of Chartered Accountant become in-fructuous, bad in law, null & void,

NSDL Cautions on Fake Calls for collection of PAN Fees

October 25, 2016 3967 Views 2 comments Print

NSDL e-Gov does not make any calls for recovery / collection of amounts for issuance of PAN/processing PAN applications nor does it solicit any bank or credit / debit card details from the applicants over phone or e-mail.

Draft rules of valuation of FMV in respect of Trust or institution

October 25, 2016 2791 Views 0 comment Print

Draft Rules for prescribing the method of valuation of fair market value in respect of the trust or the institution ceases to exist as charitable organization or converts into a non-charitable organization.

Using GST for checking menace of undisclosed sales & incomes

October 25, 2016 5062 Views 3 comments Print

Following measures can be adopted to curb the practice of undisclosed turnovers in the GST law. 1. Discouraging Without Bill Sales through Denial of Input Tax Credit on such sales 2. Tracking Sales Turnover for restriction on Tax Credit.

Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Twelfth Amendment) Regulations, 2016

October 25, 2016 3055 Views 0 comment Print

(i) These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Twelfth Amendment) Regulations, 2016.

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