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RBI Master Circular- Credit Facilities to Minority Communities

April 1, 2023 1695 Views 1 comment Print

In order to ensure that minority communities secure, in a fair and adequate measure, the benefits flowing from various Government sponsored schemes, Scheduled Commercial Banks (referred to as ‘banks’ hereafter) are advised to ensure smooth flow of bank credit to minority communities.

RBI Master Circular – Credit facilities to SCs & STs

April 1, 2023 1359 Views 0 comment Print

In order to encourage SC/ST borrowers to take advantage of credit facilities, greater awareness among them about various schemes formulated by banks needs to be created through various means such as brochures, visits by field staff etc so that salient features of the schemes, as also the advantages that will accrue to them are known to such borrowers. Banks should advise their branches to organize meetings more frequently exclusively for SC/ST beneficiaries to understand their credit needs and to incorporate the same in the credit plan.

Section 54F exemption on house purchased in the name of assessee’s wife & son allowed

April 1, 2023 9615 Views 0 comment Print

Mukkamala Srihari Rao Vs ACIT (ITAT Ranchi) Whether the sale consideration received by a person from sale of capital asset if applied in the name of his wife or son for purchasing/constructing residential house whether the assessee can claim deduction u/s. 54F or 54 of the Act?. From going through the decision(s) relied on by […]

CBIC amends 8 Custom Notifications of G&J and EOU schemes

April 1, 2023 957 Views 0 comment Print

CBIC amends 8 Custom Notifications of G&J and EOU schemes vide Notifications No 28/2023 – Customs Dated: 1st April, 2023. GOVERNMENT OF INDIA MINISTRTY OF FINANCE (DEPARTMENT OF REVENUE) Notifications No 28/2023 – Customs | Dated: 1st April, 2023 G.S.R.263 (E)– In exercise of the powers conferred by sub-section (1) of section 25 of the […]

Exemption for import of fabrics under Special Advance Authorization Scheme

April 1, 2023 2238 Views 0 comment Print

Regarding Exemption for import of fabrics under Special Advance Authorization Scheme under para 4.04A of Foreign Trade Policy, 2023 for manufacture and export of garments vide Notification No. 27/2023- Customs Dated:  1st April, 2023. GOVERNMENT OF INDIA MINISTRYOF FINANCE (DEPARTMENT OF REVENUE) Notification No. 27/2023- Customs Dated:  1st April, 2023 G.S.R. 260.(E) .– In exercise of […]

EPCG Scheme implementation under Foreign Trade Policy, 2023

April 1, 2023 8865 Views 0 comment Print

Regarding implementation of EPCG Scheme under Foreign Trade Policy, 2023 (FTP 2023) vide Notification  No. 26/2023 – Customs Dated: 1st April, 2023.  GOVERNMENT OF INDIA MINISTRYOF FINANCE (DEPARTMENT OF REVENUE) Notification  No. 26/2023 – Customs Dated: 1st April, 2023 G.S.R. 259(E).— In exercise of the powers conferred by sub-section (1) of section 25 of the Customs […]

Duty Free Import Authorisation Scheme implementation under FTP, 2023

April 1, 2023 1347 Views 0 comment Print

Regarding implementation of Duty Free Import Authorisation Scheme under Foreign Trade Policy, 2023 vide Notification No. 25/2023 – Customs Dated: 1st April, 2023  GOVERNMENT OF INDIA MINISTRYOF FINANCE (DEPARTMENT OF REVENUE) Notification No. 25/2023 – Customs Dated: 1st April, 2023 G.S.R. 258(E). – In exercise of the powers conferred by sub-section (1) of section 25 of […]

Advance Authorisation Scheme implementation for export of prohibited goods

April 1, 2023 690 Views 0 comment Print

Regarding implementation of Advance Authorisation Scheme for export of prohibited goods under Foreign Trade Policy, 2023 (FTP 2023) vide Notification No. 24/2023 – Customs Dated:  1st April, 2023. GOVERNMENT OF INDIA MINISTRYOF FINANCE (DEPARTMENT OF REVENUE) Notification No. 24/2023 – Customs | Dated:  1st April, 2023 G.S.R. 257(E). – In exercise of the powers conferred […]

Advance Authorisation Scheme implementation for annual requirement under FTP 2023

April 1, 2023 1941 Views 0 comment Print

Regarding implementation of Advance Authorisation Scheme for annual requirement under Foreign Trade Policy, 2023 vide Notification No. 23/2023 – Customs Dated: 1st April, 2023. GOVERNMENT OF INDIA MINISTRYOF FINANCE (DEPARTMENT OF REVENUE) Notification No. 23/2023 – Customs | Dated: 1st April, 2023 G.S.R. 256(E).— In exercise of the powers conferred by sub-section (1) of section 25 […]

Advance Authorisation Scheme implementation for deemed export under FTP, 2023

April 1, 2023 1920 Views 0 comment Print

Regarding implementation of Advance Authorisation Scheme for deemed export under Foreign Trade Policy, 2023 (FTP, 2023) vide Notification No. 22/2023 – Customs | Dated: 1st April, 2023. GOVERNMENT OF INDIA MINISTRYOF FINANCE (DEPARTMENT OF REVENUE) Notification No. 22/2023 – Customs | Dated: 1st April, 2023 G.S.R. 255(E)– In exercise of the powers conferred by sub-section […]

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