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Archive: 23 July 2019

Posts in 23 July 2019

Loans sanctioned in 1,33,448 cases under 59-minutes Scheme to MSME

July 23, 2019 456 Views 0 comment Print

Press Information Bureau Government of India Ministry of Finance 23-July-2019 17:45 IST Loans sanctioned in 1,33,448 cases under 59-minutes Scheme to MSME Out of 2,00,660 applications submitted, 1,59,583 applications for loans on the psbloansin 59 portal have been accorded in principle approval since the launch of the portal. Sanctions have been made in respect […]

Curbing mechanism for wilful defaults

July 23, 2019 564 Views 0 comment Print

Mechanisms are in place to deter wilful defaulters, curb incidence of wilful defaults, and effect recovery from wilful defaulters. These include, inter-alia, the following: 1. PSBs have been asked to examine all accounts exceeding Rs. 50 crore, if classified as Non-Performing Asset (NPA), from the angle of possible fraud and to immediately initiate examination of the issue of wilful default once a fraud is reported.

NPAs of Nationalised Banks started declining 

July 23, 2019 483 Views 0 comment Print

Loans written-off from Balance Sheets of PSBs; As A result of Government’s 4R’s Strategy of Recognition, Resolution, Re-capitalisation and Reforms, NPAs of Nationalised Banks have started declining 

Linking Rupay Card and Accounts with Aadhaar

July 23, 2019 324 Views 0 comment Print

Account holders under Pradhan Mantri Jan-Dhan Yojana (PMJDY) are provided with a RuPay Debit card, having an inbuilt accident insurance cover of Rs.1 lakh (Rs.2 lakh for PMJDY accounts opened after 28.08.2018). As apprised by National Payments Corporation of India (NPCI), linking of Aadhaar is not mandatory for activation of RuPay cards.

Mauritius Leaks again revealed devastating impact of tax avoidance

July 23, 2019 645 Views 0 comment Print

The Mauritius Leaks have once again revealed the devastating impact of tax avoidance. ICRICT calls for multilateral accord to overhaul the international tax system, the end of tax havens, the adoption of a minimum global tax and the creation of a Global Asset Registry

Lok Sabha passes Right to Information (Amendment) Bill, 2019 

July 23, 2019 366 Views 0 comment Print

Lok Sabha passed the Right to Information (Amendment) Bill, 2019 today. In this amendment, it is proposed to amend the Right to Information Act, 2005 so as to provide that the term of office of, and the salaries, allowances and other terms and conditions of service of, the Chief Information Commissioner and Information Commissioners and the State Chief Information Commissioner and the State Information Commissioners, shall be such as may be prescribed by the Central Government.

NCLT dismisses 9 IBC plea for payment of interest due to dispute on existence of debt

July 23, 2019 6804 Views 0 comment Print

Steel India Vs M/s. Theme Developers Pvt Ltd (NCLT Mumbai) We have carefully gone through the pleadings on record and pursued the submissions made by the counsels for both the sides. On careful perusal of the documents it is noticed that the Corporate Debtor has already paid the entire Principal amount to the Petitioner, which […]

Code on Wages Bill, 2019 Introduced in Lok Sabha

July 23, 2019 4755 Views 0 comment Print

The Code on Wages Bill, 2019 Introduced in Lok Sabha on 23rd July 2019 The Minister of State (I/C) for Labour and Employment Shri Santosh Kumar Gangwar introduced The Code on Wages Bill, 2019 in Lok Sabha today to amend and consolidate the laws relating to wages and bonus and matters connected therewith. The Code […]

Payment: Utilization of IGST Credit (implemented in Form GSTR 3B only)

July 23, 2019 2565 Views 0 comment Print

Taxpayers filing Form GSTR 3B will have to utilize IGST credit towards payment of Integrated tax, and the amount remaining, if any, may be utilised towards the payment of Central tax and State tax or Union territory tax, in any order.

List of CGST Circulars on GST Refund Claims- Issued till 22nd July 2019

July 23, 2019 5565 Views 1 comment Print

Here we have compiled List of CGST Circulars on GST Refund Claims- Issued till 22nd July 2019 since Implementation of GST from 1st July 2017.  Article contains, Relevant Circular No., Date of Issue of the Circular and Brief about the contents of the Circular. Circular No. Date Subject Circular No. 2/2/2017-GST 04-07-2017 Issues related to […]

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July 2019