With effect from the 16th day of June, 2018 No e-Way Bill in respect of movement of goods originating and terminating within the State of Delhi (intra-State movement but without passing through any other State) shall be required where the consignment value does not exceed Rs.1,00,000/- (rupees one lakh only).
In re Shandong Heavy Industry India Pvt. Ltd (GST AAR Maharashtra) Q.A Whether the classification of Marine Diesel Engine falling under TSH 8408 of Customs Tariff Act, 1975 as adopted to GST attracting 28% of IGST (14% CGST + 14% SGST) as per Schedule IV (Sr. No. 115) of Notification No. 01/2017 – Central Tax […]
Circular No.21/21/2017 – IGST which exempts from tax interstate movement of rigs, tools, spares, and all goods on wheels [ like cranes ] where interstate movement of such goods is not for further supply of same goods is not applicable to the facts of present transaction as in the present case interstate movement of goods from SML HO in Maharashtra to SML branches in other states is for further supply of goods on hire.
It has been decided to permit banks, with effect from the date of this circular, to reckon Government securities held by them up to another 2 per cent of their NDTL, under FALLCR within the mandatory SLR requirement, as Level 1 HQLA for the purpose of computing their LCR. Hence, the carve-out from SLR, under FALLCR will now be 11 per cent, taking the total carve out from SLR available to banks to 13 per cent of their NDTL.
It has been decided to withdraw minimum residual maturity restriction of three years for investment by FPIs in G-Secs and SDLs. Further, the auction process being carried out by BSE/ NSE shall be discontinued from the date of this circular.
In view of the continuing rise in the yields on Government Securities, as also the inadequacy of time to build investment fluctuation reserve (IFR) for many banks, it has been decided to grant banks the option to spread provisioning for their mark to market (MTM) losses on all investments held in AFS and HFT for the quarter ending June 30, 2018 as well. The provisioning required may be spread equally over up to four quarters, commencing with the quarter ending June 30, 2018.
Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to Schedule 5 to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2017 notified vide Notification No. FEMA.20(R)/2017-RB dated November 07, 2017, as amended from time to time and the relevant directions issued thereunder.
CBIC Chairman request all zones who have not been able to reach zero pendency for IGST Refund to continue to work with same enthusiasm to clear all claims pre April even post 16th June.
The matter regarding amendment in the RTI Act, 2005 is under consideration and has not reached finality. As per section 8(1)0) of the RTI Act, 2005, information requested by you cannot be supplied at this stage.
Tariff Notification No. 53/2018-Customs (N.T.) Dated: 14th June, 2018 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver
