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Old demonitised 500 & 1000 rupee notes will be accepted for making payments towards fees, charges, taxes and penalties payable to the Central and State Governments including Municipal and local bodies;
In terms of Gazette Notification No 2652 dated November 08, 2016 issued by Government of India, Rs 500 and 1000 denominations of Bank Notes of the existing series issued by RBI shall cease to be legal tender with effect from 9th November, 2016,
Ministry of Economic Affairs released a press release on 8th Nov 2016 in order to withdraw Legal Tender Character of Old High Denominated bank Notes (OHD) ie; Rs. 500 &Rs. 1,000
FM sais that there will be positive impact of recent decision of demonetising of higher value currency notes. He assured that people making small deposits for exchanging old currency notes will not be harassed.
It has been alleged that the bank authorities refused to accept payment stating that since IDS, 2016 has closed on 30.09.2016 the banks cannot accept the said challan beyond the said date.
As per Article 279A (4), GST Council will make recommendations to the Union and the States on important issues related to GST, like a) The goods and services that may be subjected or exempted from GST.
The new GST regime will open up an array of opportunities for businesses across India as well as those planning to enter the Indian market.
No sooner political hurdles were out and consensus amongst the political party reach in the Rajya Sabha, 122nd Constitutional Amendment Bill,16 states have immediately ratified 122nd Constitutional Amendment Bill and thereafter subsequent steps and actions, which has been taken by the Central Govt.
Dear Professional Colleagues, Taking nation by surprise, our Hon’ble Prime Minister Shri Narendra Modi Ji declared demonetisation of the existing Rs. 500 and Rs. 1000 notes to take them out of circulation as a measure to curb financing of terrorism through the proceeds of fake Indian currency notes and to eliminate black money. I am […]
Cash withdrawal from a bank account over the counter shall be restricted to Rs. 10,000/- per day subject to an overall limit of Rs. 20,000/- a week from the date of the notification until the end of business hours on 24th November, 2016
