Notification & Circulars

Regarding reducing/eliminating printouts in Customs Clearance

Notification No#55/2016-Customs 23 November 2016

[F. No. 450/25/2013-Cus IV (Pt)] Government of India Ministry of Finance Department of Revenue Central Board of Excise And Customs New Delhi Circular No. 55/2016-Customs, Dated: November 23, 2016 To All Principal Chief Commissioners/Chief Commissioners of Customs/ Customs..

Posted in Custom

Deposit of old demonetized notes of Rs. 500 and Rs. 1000 in Small Savings Scheme

Notification No#1/04/2016-NS.II 23 November 2016

F.No. 1/04/2016-NS.II Ministry of Finance Department of Economic Affairs (Budget Division) North Block, New Delhi Dated 23.11.2016 To 1. The Chief general Manager Reserve Bank of India Department of Government and Bank Accounts Central Office, Byculla Office Building ..

Posted in Community & General

Safeguard duty on Hot Rolled flat sheets and plates

Notification No#3/2016-Customs (SG) 23 November 2016

Seeks to levy safeguard duty on Hot Rolled flat sheets and plates (excluding hot rolled flat products in coil form) of alloy or non-alloy steel having nominal thickness less than or equal to 150mm and nominal width of greater than or equal to 600mm [TO BE PUBLISHED IN THE GAZETTE OF IND..

Posted in Custom

Withdrawal of Legal Tender Character of the existing Bank Notes in the denominations of ₹ 500/- and ₹ 1000/- Exchange Facility – Reports of misuse – Caution to Public

Notification No#2016-2017/1283 22 November 2016

The facility for public to exchange the specified bank notes (old notes in ₹ 500 and ₹ 1000) for legal tender notes and allowing them to deposit into bank accounts in unlimited amounts is provided to enable members of the public in possession of these notes as on the date of the announcement to secu..

Posted in Community & General

Regarding further rationalization of revised simplified procedure for fixation of brand rates

Notification No#54/2016-Customs 22 November 2016

F.No.609/84/2016-DBK Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs Drawback Division, New Delhi Circular No. 54/2016-Customs, Dated: November 22, 2016 To, Principal Chief Commissioners/ Directors Gene..

Posted in Custom

Deposit of old demonetized notes of Rs. 500 and Rs. 1000 in Small Savings Scheme

Notification No#1/04/2016-NS 22 November 2016

Finance Mministry has been decided that subscribers of small scheme may not be allowed to deposit old demonetised currency notes of Rs. 500 and Rs. 1000, in Small Saving Schemes which includes Post Office Savings Account, 5-Year Post Office Recurring Deposit Account, Post Office Time Deposit Ac..

Posted in Community & General

Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Specified Bank Notes (SBNs) – Cash withdrawal for purpose of celebration of wedding – Modification

Notification No#1346/10.27.00/2016-17 22 November 2016

RBI/2016-17/149 DCM (Plg) No.1346/10.27.00/2016-17 November 22, 2016 The Chairman / Managing Director/Chief Executive Officer, Public Sector Banks / Private Sector Banks/ Foreign Banks Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks. Dear Si..

Posted in Community & General

Special measures to incentivise Electronic Payments

Notification No#2016-2017/1282 22 November 2016

In order to meet the transactional needs of the public through digital means, the Reserve Bank has introduced additional measures by way of special dispensation for small merchants and enhancement in limits for semi-closed Prepaid Payment Instruments (PPIs). A special dispensation has n..

Posted in Community & General

Making cash available for Rabi Crop Season – Advisory to banks

Notification No#1345/10.27.00/2016-17 22 November 2016

RBI/2016-17/148 DCM (Plg) No.1345/10.27.00/2016-17 November 22, 2016 The Chairman / Managing Director/Chief Executive Officer, Public Sector Banks / Private Sector Banks / Foreign Banks / Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks Dear ..

Posted in Community & General

Adminissibilty of expenditure incurred by a firm on Keyman Insurance Policy in the case of a Partner

Notification No#38/2016 22 November 2016

CIRCULAR NO. 38/2016 F.No.279/Misc./ 140/2015-ITJ Government of India Ministry of Finance Central Board of Direct Taxes New Delhi, Dated 22nd November, 2016 Subject: Admissibility of expenditure incurred by a Firm on Keyman Insurance Policy in the case of a Partne..

Posted in Income Tax