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Notifications

Maharashtra Value Added Tax (Fourth Amendment) Rules, 2016

August 6, 2016 24783 Views 1 comment Print

Set-off in respect of goods manufactured by certain dealers covered under the various packages scheme of incentive- If the claimant dealer has purchased goods (other than the declared goods) which are originally manufactured by,– (i) the Mega Unit or, as the case may be, the Ultra Mega Unit, holding valid Identification Certificate under the Act, or

TDS U/s. 194A not applicable on amount credited/Paid to MUDRA

August 5, 2016 24173 Views 0 comment Print

In exercise of the powers conferred by sub-clause (f) of clause (iii) of sub-section (3) of section 194A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Micro Units Development & Refinance Agency Limited (MUDRA) for the purposes of sub-section (3) of said section.

Sec. 188 to 194 of Bankruptcy Code 2016 notified wef 05.08.2016

August 5, 2016 766 Views 0 comment Print

Central Government hereby appoints the 5th of August, 2016 as the date on which the provisions of sections 188 to 194 (both inclusive) of the said Code shall come into force.

Notification No. 20/2015-2020, Dated: 04.08.2016

August 4, 2016 22338 Views 0 comment Print

a. Imports under Advance Authorisation Scheme are exempted from Minimum Import Price (MIP) under this Notification; b. MIP conditions laid down in this Notification are valid for two more months with effect from 05/08/2016 or until further orders, whichever is earlier.

Notification No. 19/2015-2020, dated: 04.08.2016

August 4, 2016 26024 Views 0 comment Print

The import of human biological samples by the Indian diagnostic laboratories/Indian Clinical Research Centres for lab analysis / R & D testing or export of these materials to foreign laboratories should be permitted by Customs authorities at the port of entry/exit without prior approvals (import licence / export permit) from any other Government agency, provided the concerned Indian company / agency submits an undertaking that they are following and will follow all the applicable rules, regulations & procedures for safe transfer and disposal of the biological samples being imported / exported as per the related norms/ regulations set by WHO* / DGFT** [SCOMET items in Export Policy of ITC (HS), 2012, Schedule-2.

Implementation of Indian Accounting Standards (Ind AS)

August 4, 2016 21557 Views 0 comment Print

In this connection, it is advised that select All-India Term Lending and Refinancing Institutions(AIFIs) (Exim Bank, NABARD, NHB and SIDBI), shall follow the Indian Accounting Standards as notified under the Companies (Indian Accounting Standards) Rules, 2015, subject to any guideline or direction issued by the Reserve Bank

Union Budget–2016-17 – Interest Subvention Scheme

August 4, 2016 20706 Views 0 comment Print

A subvention of 2 % per annum will be made available to Public Sector Banks (PSBs) and in respect of loans given by the rural and semi–urban branches of Private Sector Scheduled Commercial Banks, for short term crop loan upto Rs.3,00,000/- per farmer provided the lending institutions make available short term credit at the ground level at 7% per annum to farmers.

Dishonour of cheques – Modification in procedure

August 4, 2016 21263 Views 0 comment Print

Please refer to our circular DBOD.BC.Leg.No.113/09.12.001/2002-03 dated June 26, 2003 and paragraph 11.4 (i) of RPCD.CO.RRB.BC.No.100/03.05.33/2013-14 dated May 12, 2014 wherein banks were advised to introduce a condition for operation of accounts with cheque facility that in the event of dishonour of a cheque

Compensatory Afforestation Fund Act, 2016

August 3, 2016 20408 Views 0 comment Print

An Act to provide for the establishment of funds under the public accounts of India and the public accounts of each State and crediting thereto the monies received from the user agencies towards compensatory afforestation, additional compensatory afforestation, penal compensatory afforestation

Notification No. 64/2016-Income Tax-Dated: 02.08.2016

August 2, 2016 739 Views 0 comment Print

.It is hereby notified for general information that the organization M/s Indian Institute of Science Education and Research, Pune (PAN:- AAAAI1546E) has been approved by the Central Government for the purpose of clause (II) of sub-section (1) of section 35 of the Income-tax Act. 1961 (said Act), read with Rules 5C and SE of the Income-tax Rules, 1962 (said Rules).

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