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Archive: December, 2016

Posts in December, 2016

MVAT: Delegation of Powers to AC and STO

December 13, 2016 1402 Views 0 comment Print

Commissioner of Sales Tax, Maharashtra State, Mumbai hereby amends the Order No. SR. D. C. (A and R)/ PWR/1006/4/Adm-3, dated the 6th October 2007, as follows, namely:—

MVAT: Delegation of Powers to Deputy Commissioners of Sales Tax

December 13, 2016 1180 Views 0 comment Print

Commissioner of Sales Tax, Maharashtra State, Mumbai hereby amends the Order No. SR.D.C. (A and R)/PWR/ 1006/3/Adm-3, dated the 6th October 2007, as follows, namely:—

MVAT: Delegation of Powers to Additional Commissioners

December 13, 2016 817 Views 0 comment Print

In Schedule appended to said Notification, in column (1), against the entry at Sr. No. 1, in column (3), in entry at Sr. No. 15, for word and figures Section 70, words, brackets and figures Sub-section (1) and (2) of section 70, shall be substituted.

Kuth root having ITC-HS Code 12119046 of MEIS schedule, deleted

December 13, 2016 823 Views 0 comment Print

FTP- Kuth Root having ITC-HS Code 12119046 appearing at Sl. No. 506 of Appendix 3B of MEIS schedule is deleted.

Demonetisation- RBI keeping constant Vigil, RBI Staff was a Junior

December 13, 2016 1288 Views 0 comment Print

There has been a media report about one of the RBI staff at Bengaluru as well. Let me clarify that it was a junior functionary of the Reserve Bank of India

Banks to preserve CCTV recordings from Nov 08 to Dec 30, 2016

December 13, 2016 3715 Views 0 comment Print

Banks are advised to preserve CCTV recordings of operations at bank branches and currency chests for period from November 08 to December 30, 2016

ALP not to be tested with growth in business rather by applying suitable method to transaction itself

December 13, 2016 1546 Views 0 comment Print

ITAT Delhi held that as to whether a transaction is entered into at an Arm’s Length Price or not must depend upon the facts of each case relating to the transaction per-se i.e. the transaction itself as the profit is only a possibility of the desired result with or without the aid of international transaction.

Cashless Economy- Are we ready?

December 13, 2016 5821 Views 7 comments Print

After Demonetisation, the sole emphasis of the Government is on Cashless Economy or Digital payments. The bold step of demonetisation taken by the PM would become a nullity if the whole country does not adopt cashless transactions. The government wants every citizen to open bank account and use the option of debit cards, credit cards […]

Standalone PDs can distribute Relief/Savings bonds

December 13, 2016 895 Views 0 comment Print

RBI allow Standalone PDs to distribute Relief/Savings bonds under non-core activities, as brokers of authorized entities, subject to adherence to terms

Banks to Send branch-wise report on detection of counterfeit note: RBI

December 12, 2016 1786 Views 0 comment Print

Counterfeit notes detected in the SBNs received in exchange and deposits should be kept branch-wise, in a secured and segregated manner, so that further analysis, as necessary, can be conducted at a later stage.

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