AD bank may receive foreign exchange by way of remittance or by way of reimbursement from his branch or correspondent outside India against payment for exports from India or against any other payment
It has been observed that there is a lack of uniformity among banks in the application of risk weights on their exposures to Housing Finance Companies (HFCs).
Banks and other eligible holders can acquire more than 500 gms. of SGBs in a fiscal year, through transfers etc., including transfers arising out of recovery proceedings.
The Payment and Settlement Systems Act, 2007 (PSS Act) has designated the Reserve Bank of India (Reserve Bank) as the authority for regulation and supervision of payment systems. Under the said Act, certain powers have been conferred upon the Reserve Bank.
Application forms from investors will be received at branches during normal banking hours from October 24, 2016 to November 2, 2016. Receiving Offices need to ensure that the application is complete in all respects as incomplete applications are liable to be rejected.
The Central Excise Tariff Act, 1985 prescribes rate of duty which is called as Tariff Rate or statutory rate of Duty. Since this rate is fixed by an Act of the parliament, any change in the rate of duty upward or downward, which government may consider on any excisable goods to achieve varied socio economic objectives, shall require approval of parliament,
Article discusses Basic features and Objectives of EOU Scheme; Incentives /Facilities available to EOUs,Setting up an EOU;Minimum Investment Criteria; Concept of Unit Approval Committee (UAC); Procedure for approval of an EOU; Sector Specific Requirement for approval as an EOU.
Nature of Dispute covered under Indirect Tax Dispute Resolution Scheme, 2016: A dispute in respect of any of the provisions of the Act which is pending before the Commissioner (Appeals) as an appeal against the impugned order as on the 1.3.2016.
Union Government has finally unveiled the Model Goods and Service Tax Law (MGL) for comments from Public and interested parties on 14th of June, 2016. It is single most important tax reform since 1947 and has been subject to so many restraints and hesitation from state governments over the loss of power to levy and collect indirect taxes and also the concerns over the loss of tax revenue for the state.
Now that the new tax revolution in the from of Implementation of Goods and Services Tax is going to occupy prime time space from April 2017 (not that it is not being trumpted now), the officers feel neglected not (only) because they were not consulted but because they were not taken into confidence all through while coming out with the law.
