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Circulars

Demonetised notes cannot be deposited in Small Savings Schemes

November 23, 2016 2470 Views 1 comment Print

subscribers of Small Savings Schemes may not be allowed to deposit SBNs in Small Savings Schemes. Banks are, therefore, advised not to accept SBNs for deposits in Small Saving Schemes with immediate effect.

CBEC reduces Printouts for routine work & Customs Clearance

November 23, 2016 2416 Views 0 comment Print

One of the ways to make cargo clearance easier is to reduce the use of paper and to introduce electronic messaging and paperless processing.

Relaxation in conditions of cash withdrawal for wedding Celebration

November 22, 2016 2275 Views 0 comment Print

#Demonetisation- Wedding Celebrations- A detailed list of persons to whom the cash withdrawn is proposed to be paid, together with a declaration from such persons that they do not have a bank account, where the amount proposed to be paid is ₹ 10,000/- or more. The list should indicate the purpose for which the proposed payments are being made.

Watch Fraudulent Act of note exchange by Bank officials: RBI

November 22, 2016 3679 Views 0 comment Print

#Demonetisation Few bank branch officials, in connivance with some miscreants, are indulging in fraudulent practices while exchanging SBNs in cash / accepting SBN deposits into account.

Revised simplified procedure for fixation of brand rates

November 22, 2016 7735 Views 1 comment Print

The working sheet (submitted by applicant with brand rate fixation claim) showing the drawback amount, each document wise, in support of claim, shall bear –

Admissibility of expense by a firm on Keyman Insurance Policy of Partner

November 22, 2016 8227 Views 1 comment Print

The issue relating to admissibility of expenditure incurred by a firm on Keyman Insurance Policy premium in the case of a partner has been a contentious one.

IRDA announces list of holidays for the calendar year 2017

November 21, 2016 2455 Views 0 comment Print

Under IRDA Staff (Officers and Employees) Regulations, 2016, following Holidays will be observed by all offices of IRDA during calendar year 2017

Exemption from late fee payment under MVAT for late return filing

November 21, 2016 12298 Views 0 comment Print

The invoice based monthly returns for the financial year 2016-17 are being filed by the eligible registered dealers form 29th August 2016. The Trade Circular No. 22 T of 2016 dt. 26th August 2016 was issued describing the procedure of filing the returns in new formats. The Trade Circular also mentioned the extended dates of return filing for the purpose of late fee exemption for the period from April 2016 onwards.

Due date of filing DVAT return for 2nd quarter extended to 28.11.2016

November 21, 2016 2032 Views 0 comment Print

Last date of filing of online/hard copy of 2nd quarter return for year 2016-17, in Form DVAT-16, DVAT-17 and DVAT-48 extended to 28/11/2016.

Clearance of import of metal scrap-Procedure-regarding

November 18, 2016 1588 Views 0 comment Print

It is clarified that the import of shredded metallic scrap shall continue to be cleared inter-alia upon furnishing of pre-shipment inspection certificate. Para 3(i) of the Circular No. 48/2016-Customs shall stand modified to that extent.

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