It has been decided to start reckoning the market value of collateral securities for the purpose of RBI Repo (including MSF) and Reverse Repo operations and to allow re-repoing of securities received under RBI Reverse Repo operations with effect from November 26, 2016.
Payment Systems (RTGS, NEFT, Cheque Clearing, Repo, CBLO and Call markets) shall remain open on Saturday, November 12 and Sunday, November 13, 2016.
Banks shall remain open for public transactions on Saturday, November 12 and Sunday, November 13, 2016 as regular working days for transacting all business
(i) for making payments in all pharmacies on production of doctor’s prescription and proof of identity; (j) for making payments on all toll plazas on the State and National Highways;(k) for payments on purchases LPG gas cylinders; (l) for making payments to catering services on board, during travel by rail;
Compliance liability of service tax payment and procedure on to the service provider located in the non-taxable territory with respect to online information and database access or retrieval services provided in the taxable territory to ‘non-assesse online recipient’.
Person located in non-taxable territory providing online information and database access or retrieval services to ‘non-assesse online recipient’, as defined therein, is liable to pay service tax and the procedure for payment of service tax.
No Service Tax exemption on Services received from a provider of service located in a non- taxable territory on online information and database access or retrieval services received by Government, a local authority, a governmental authority or an individual in relation to any purpose other than commerce, industry or any other business or profession;
Seeks to amend Place of Provision of Services Rules, 2012 so as to amend the place of provision of ‘online information and database access or retrieval services’ with effect from 01.12.1016.
Government of India vide their Notification no. 2652 dated November 8, 2016 have withdrawn the Legal Tender status of ₹ 500 and ₹ 1,000 denominations of banknotes of the Mahatma Gandhi Series issued by the Reserve Bank of India till November 8, 2016.
On the recommendations of the Central Board of Directors of the Reserve Bank of India, the Central Government hereby specifies the denomination of bank notes of the value of two thousand rupees.
