He ceiling on bank credit linked to Net Owned Fund (NOF) of NBFCs has been withdrawn in respect of all NBFCs which are statutorily registered with RBI and are engaged in principal business of asset financing, loan, factoring and investment activities. Accordingly, banks may extend need based working capital facilities as well as term loans to all NBFCs registered with RBI and engaged in infrastructure financing, equipment leasing, hire- purchase, loan, factoring and investment activities.
Members & Students Services (Grievances Handling and e-Sahaayataa) The Institute of Chartered Accountants of India 1st April, 2023 Announcement Updation of Member’s Profile at Self Service Portal with GSTIN The tax invoices for the membership fee and the fee for certificate of practice payable for the financial year 2023-24, is to be issued to members […]
Reserve bank of India RBI/2023-24/04 DOR.STR.REC.5/13.07.010/2023-24 April 1, 2023 All Scheduled Commercial Banks (excluding Payments Banks and RRBs) Dear Sir / Madam Master Circular – Guarantees and Co-acceptances Please refer to the Master Circular DOR.STR.REC.8/13.07.010/2022-23 dated April 1, 2022 consolidating the instructions / guidelines issued to banks till March 31, 2022, relating to Guarantees and Co-acceptances. This Master […]
CBIC extends time limit under section 73(10) of CGST Act, 2017 for issuance of order under section 73(9), for recovery of tax not paid or short paid or of input tax credit wrongly availed or utilised for financial 2017-18,2018-19 and 2019-20 as follows: vide Notification No. 09/2023–Central Tax Dated: 31st March, 2023 – (i) for the […]
Maximum late fees restricted to Rs. 1000 for Final Return in FORM GSTR-10 if GSTR-10 is furnished between 01.04.2023 to 30.06.2023
CBIC reduces Annual Return Late Fee as follows vide Notification No. 07/2023–Central Tax Dated: 31st March, 2023 – A. for the financial year 2022-23 onwards Registered persons having an aggregate turnover of up to five crore rupees in the relevant financial year– Fifty rupees per day (25 CGST+25 SGT), subject to a maximum of an amount […]
CBIC notifies Amnesty scheme registered persons in whose cases assessment u/s 62 of CGST Act has been done on or before 28.02.2023 and who have failed to furnish a valid GST return within a period of 30 days from date of service of assessment order vide Notification No. 06/2023 – Central Tax dated 31.03.2023. Ministry […]
Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) New Delhi Notification No. 05/2023–Central Tax Dated: 31st March, 2023 G.S.R. 248(E).—In pursuance of the powers conferred by sub-rule (4B) of rule 8 of the Central Goods and Services Tax Rules, 2017, the Central Government, on the recommendations of the Council, hereby […]
CBIC notifies substitutes Rule 8(4A) & amended Rule 8(4B) pertaining to Aadhar authentication and biometric verification of those registered under GST with retrospective effect force from 26.12.2022 vide Notification No. 04/2023–Central Tax Dated: 31st March, 2023. Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) New Delhi Notification No. 04/2023–Central Tax Dated: […]
CBIC provides Amnesty scheme to registered persons whose GST registrations have been cancelled on or before 31.12.2022 due to non-filing of GST returns vide Notification No. 03/2023 – Central Tax dated 31.03.2023. Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) New Delhi Notification No. 03/2023–Central Tax Dated: 31st March, 2023 […]
