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Archive: 12 October 2017

Posts in 12 October 2017

Clarification on issues related to furnishing of Bond/LUT

October 12, 2017 1134 Views 0 comment Print

Eligibility to export under LUT: The facility of export under LUT has been now extended to all registered persons who intend to supply goods or services for export without payment of integrated tax except those who have been prosecuted for any offence under the CGST Act or the Integrated Goods and Services Tax Act, 2017

Problem faced by Nepalese pensioners in private sector

October 12, 2017 453 Views 0 comment Print

Procedure to be adopted by Indian Banks who have branches in Nepal for submission of life certificates of Nepalese pensioners. The Bank Managers or authorized officials of Nepal SBI Bank Limited (NSBL)/Everest Bank Limited (EBL) located in Nepal may certify the physical copy of the Life certificate of the pensioners residing in Nepal and forward the same to the Pension Paying Branch of SBI/PNB respectively of the concerned pensioner in India.

Facilities for Hedging Trade Exposures invoiced in Indian Rupees

October 12, 2017 621 Views 0 comment Print

To hedge the currency risk arising out of genuine trade transactions involving exports from and imports to India, invoiced in Indian Rupees, with AD Category I banks in India.

No Change in Interest rates of Small Savings Schemes for Q3 of FY 2017-18

October 12, 2017 654 Views 0 comment Print

Interest rates on small savings schemes for the third quarter of financial year 2017-18 starting 1st October, 2017 shall remain unchanged from those notified for the second quarter of FY 2017-18

Discussion paper on foreign exchange trading platform for retail participants

October 12, 2017 627 Views 0 comment Print

The Reserve Bank of India today released on its website a Discussion Paper on Foreign exchange trading platform for retail participants. The discussion paper proposes a scheme to encourage transparent and fair pricing in the retail forex market

Electronic Trading Platform (ETP) Directions, 2017– Draft Directions

October 12, 2017 867 Views 0 comment Print

The Reserve Bank of India today released Draft Directions for authorising Electronic Trading Platforms for financial market instruments regulated by the Reserve Bank. Comments on the draft guidelines are invited from banks, market participants and other interested parties by November 10, 2017.

MCA amends notification No. S.O. 1693 (E) dated 3rd October, 2007

October 12, 2017 882 Views 0 comment Print

In exercise of the powers conferred by section 29A of the Cost and Works Accountants Act, 1959 (23 of 1959), the Central Government hereby makes the following further amendment in the notification of the Government of India in the Ministry of Corporate Affairs, vide number S.O. 1693 (E) dated the 3rd October, 2007, published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-Section (ii), dated the 3rd day of October, 2007, namely

GST: Twice deduction of amount for same CPIN from bank what to do?

October 12, 2017 5178 Views 1 comment Print

GST Portal will update cash ledger on the basis of first information of CIN received from the bank/ RBI. For same CPIN, cash ledger can’t be updated more than once. Please get in touch with concerned bank for refund of other deducted amount, which was not credited in cash ledger.

ICSI Model Governance Code for Meetings of Gram Panchayats

October 12, 2017 1461 Views 0 comment Print

The Model Governance Code for Meetings of Gram Panchayats is ICSI’s social initiative to facilitate the implementation of standard practices in convening the meeting of Panchayats. Though voluntary in nature, this Code is intended to sensitize the elected representatives of the panchayats regarding their roles and responsibilities, bring about awareness and more so be the guiding light as to how good governance can be inculcated at the last leg of the democratic structure of the country.

What a receiver taxpayer can do in his GSTR 2?

October 12, 2017 25467 Views 9 comments Print

See the supplier-wise summary of all invoices uploaded by supplier taxpayer Against each invoice of the supplier, receiver taxpayer can take one of four possible actions – Accept, Modify, Reject, and Keep Pending, after Supplier taxpayer has uploaded his GSTR 1 Add (by using ADD MISSING INVOICE option). all the invoices for the tax period. which have not been uploaded by the various Supplier(s) taxpayer

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