Salient features of the scheme of Withdrawal of Legal Tender Character from existing series of Bank Notes in the denominations of Rs. 500 and Rs. 1000
Seeks to levy anti-dumping duty at modified rates on 4, 4 Diamino Stilbene 2, 2 Disulphonic Acid (DASDA) originating in or exported from Peoples Republic of China up to and inclusive of 22nd January, 2019.
Direct tax collections up to October, 2016 show that net collections are at Rs.3.77 lakh crore which is 10.6% more than the net collections for the corresponding period last year.
Ministry extended last date for filing of financial statements and annual returns using e-forms, AOC-4, AOC-4 (XBRL), AOC4 (CBS), or MGT-7
To break grip of corruption & black money, 500.& 1000 Rs. notes presently in use will not be legal tender from midnight of 8th November 2016.
Indirect tax collections (Central Excise, Service Tax and Customs) up to October 2016 show that net revenue collections are at Rs 4.85 lakh crore which is 26.7% more than the net collections for the corresponding period last year.
All scheduled and non-scheduled banks, including public, private, foreign, cooperative, regional rural and local area banks, will remain closed for public on Wednesday, November 9, 2016.
Government of India vide their Notification no. 2652 dated November 8, 2016 have withdrawn the Legal Tender status of ₹ 500 and ₹ 1,000 denominations of banknotes of the Mahatma Gandhi Series issued by the Reserve Bank of India till November 8, 2016.
On the recommendations of the Central Board of Directors of the Reserve Bank of India, the Central Government hereby specifies the denomination of bank notes of the value of two thousand rupees.
Government declares that ₹ 500 & ₹ 1000 Banknotes shall not be ceased to be legal tender, with effect from the 9th November, 2016 until the 11th November, 2016, to following 8 transactions specified below,
