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Notifications/Circulars

Income Tax (26th Amendment) Rules, 2016

October 8, 2016 5863 Views 0 comment Print

The Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems) shall specify the procedures, data structures, and standards for ensuring secure capture and transmission of data, evolving and implementing appropriate security, archival and retrieval policies in relation to the statement referred to in sub-clause (i) of sub-rule (1).

Form No. 68 -Immunity from imposition of penalty- Section 270AA

October 8, 2016 92038 Views 3 comments Print

Form of application under section 270AA.- An application to the Assessing Officer to grant immunity from imposition of penalty under section 270A and from initiation of proceedings under section 276C or section 276CC shall be made in Form No.68

Rate of exchange of conversion of foreign currency wef 07.10.2016

October 8, 2016 1138 Views 0 comment Print

CBEC hereby determines that the rate of exchange of conversion of each of the foreign currencies specified in column (2) of each of Schedule I and Schedule II annexed hereto, into Indian currency or vice versa, shall, with effect from 07th October, 2016, be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods.

Reg. Procedure governing import of un-shredded scrap

October 8, 2016 4621 Views 0 comment Print

Any sea port to be designated for import of un-shredded metallic scrap will be required to install Radiation Portal Monitors and Container Scanner with adequate security. The sea port having completed the above shall approach jurisdictional Customs for inspection and certification. Customs may give necessary clearance on receipt of certification from AERB. On getting clearance from Customs, DGFT will notify such a port as designated port for import of un-shredded scrap.

Notification No. 48/2016-Central Excise (N.T.) dated 07.10.2016

October 7, 2016 2191 Views 0 comment Print

Government of India Ministry of Finance (Department of Revenue) Notification No. 48/2016 – Central Excise (N.T.) New Delhi, dated, the 7th October, 2016 In exercise of the powers conferred by rule 3 of the Central Excise Rules, 2002, the Central Board of Excise and Customs hereby makes amendments in the notification of the Government of […]

Delhi VAT- Speedy disposal of all refund claims

October 7, 2016 1042 Views 0 comment Print

In terms of section 38 of the DVAT,Act 2004 and rules made thereunder, all refund cases pertaining to the wards/zones are required to be disposed off by the concerned Ward Incharge/Zonal Incharge within the stipulated period of two months. In the wake of ever-increasing pendency of Refund cases, directions of the Hon’ble High Court and with a view to provide impetus to the disposal of Refund cases so as to put them on fast track,

Operating Guidelines for Small Finance Banks

October 6, 2016 4333 Views 0 comment Print

The need for separate Operating Guidelines for small finance banks was examined, considering the differentiated nature of business and financial inclusion focus of these banks. Accordingly, the Operating Guidelines for small finance banks are given in the Annex.

Operating Guidelines for Payments Banks

October 6, 2016 2029 Views 0 comment Print

The need for separate Operating Guidelines for payments banks was examined, considering the differentiated nature of business and financial inclusion focus of these banks. Accordingly, the Operating Guidelines for payments banks are given in the Annex.

Priority Sector Lending – Revised Reporting System

October 6, 2016 1111 Views 0 comment Print

On a review, it has been decided to modify the quarterly and annual reporting formats for reporting priority sector lending. The banks are, therefore, requested to furnish data on priority sector advances, in the enclosed revised formats

Import Data Processing and Monitoring System (IDPMS)

October 6, 2016 61480 Views 1 comment Print

In order to enhance ease of doing business and facilitate efficient data processing for payment of import transactions and effective monitoring thereof, Import Data Processing and Monitoring System (IDPMS) has been developed in consultation with the Customs authorities and other stakeholders.

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