Liquidity Adjustment Facility – Oil Marketing Companies’ Government of India Special Bonds (Oil Bonds) as eligible collateral under LAF/MSF and Removal of Margin Requirement for Reverse Repos
It has been alleged that the bank authorities are refusing to accept payment stating that since IDS, 2016 has closed on 30.09.2016 the banks cannot accept the challan beyond the date.
The Honble Bombay HC in the above stated case held that when the wordings of law are quite clear then law should be applied in its letter and no space could be made for logical or beneficial or constructive interpretation.
G.S.R. (E). – Whereas in the matter of “Low Ash Metallurgical Coke” (hereinafter referred to as the subject goods) falling under sub-heading 2704 00 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act)
Central Government hereby further amends notification of the Government of India, in Ministry of Finance, Department of Economic Affairs number S.O. 3407 (E) dated 8th November, 2016 published in Gazette of India
FM Shri Arun Jaitley said that one of major objectives of withdrawal of legal tender status on Rs. 500 and Rs. 1000 notes was to move Indian economy further towards digital transactions.
As you are aware there is a massive accumulation of SBNs at branches of banks and currency chests putting strain on processing capacities and storage facilities. This is slowing down the deposit of accumulated SBNs into chests.
I appreciate intention of Government for demonetization of currency as it might have taken in good spirit for betterment of people as well as our nation. However, following questions/issues which are being circulated through media / social media still remained unanswered which is raising doubts in the minds of common man and need to be clarified :
All the existing registrants having a Permanent Account Number will be issued a provisional registration certificate in Form GST REG-21.Such Certificate shall be valid for an initial period of six months (or an extended period, as may be notified by the Central Government/State Government on recommendation of the Council) from the date of issue.
In order to determine whether a supply is interstate or intra state, both the location of the supplier and the place of supply are relevant. If the location of the supplier and the place of supply are in different states, then in that it will be considered as an Inter-state supply and IGST will be levied
