On the basis of an assessment of the current macroeconomic situation, it has been decided to: reduce the cash reserve ratio (CRR) of scheduled banks by 25 basis points from 4.75 per cent to 4.50 per cent of their net demand and time liabilities (NDTL) effective the fortnight beginning September 22, 2012. Consequently, around ` 170 billion of primary liquidity will be injected into the banking system; and
Excise Duty on Petrol Reduced and Diesel Hiked- Effective rate of excise duty on Petrol has been reduced from Rs. 6.35 to Rs.1.20 and on Diesel, hiked from ‘nil’ to Rs. 1.46.
Notification No. A-12023/2/2011-Admn. III (LA)-Income Tax In exercise of the powers conferred by section 252 of the Income-tax Act, 1961 (43 of 1961), the Central Government is pleased to appoint Shri H.L. Karwa, Vice-President of the Income Tax Appellate Tribunal, as President of that Tribunal in officiating capacity with effect from the forenoon of 1st September, 2012 and till the post is filled on regular basis.
Notification No. 53/2012-Customs For removal of doubts, it is clarified that the goods for which there is failure of the foreign buyer to take delivery shall include goods rejected by the foreign buyer
Notification No. 52/2012-Customs New Delhi, the 13th September, 2012 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the […]
Notification No. 51 / 2012 – Customs Seeks to amend notification No.12/2012-Cus,dated 17.03.2012 to provide concessional rate of duty on Gold Findings and to extend the list of items under Sr. No.282
Notification No. 37/2012-Income Tax In Budget 2012 CBDT has introduced a provision w.e.f. 01.07.2012 by which a person who has defaulted in payment of TDS / TCS will not be deemed to be a person in default if he furnishes a certificate from CA to the effect that the person in respect of whom default is committed
In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) read with section 25 of the Depositories Act, 1996 (22 of 1996), the Board hereby makes the following Regulations to amend the Securities and Exchange Board of India (Depositories and
In exercise of the powers conferred by sub-section (6) of section 1 of Payment of Wages Act, 1936 (4 of 1936), the Central Government, on the basis of figures of the Consumer Expenditure Survey published by the National Sample Survey Organisation, hereby specifies Rupees eighteen thousand per month as the wages under said sub-section (6).
Banks can henceforth extend financial assistance to support the factoring business of Factoring Companies which comply with the following criteria: (a) The companies qualify as factoring companies and carry out their business under the provisions of the Factoring Regulation Act, 2011 and Notifications issued by the Reserve Bank in this regard from time to time.
