E-WAY BILL RULES

  [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs Notification No.27 /2017 – Central Tax New Delhi, the 30thAugust, 2017 G.S.R. ( )E.:- In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government hereby makes the following rules further to amend the Central Goods and Services Tax Rules, 2017, namely:- (1) These rules may be called the Central Goods and Services Tax (Sixth Amendment) Rules, 2017. (2) Save as otherwise provided in these rules, they shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.

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RBI Annual Report for the F.Y. 2016-17

  During 2016-17, 762,072 pieces of counterfeit notes were detected in the banking system, of which 95.7 per cent were detected by commercial banks (Table VIII.7). Detection of counterfeit notes was 20.4 per cent higher than the previous year. Barring `100, the detection of counterfeit notes increased across denominations – notably, `500 and `1,000 – during 2016-17 (Table VIII.8). During 2016-17, the National Crime Records Bureau (NCRB), Ministry of Home Affairs designed a uniform proforma for collection of Fake Indian Currency Note (FICN) data. It also developed a web-enabled software for uploading data on FICN detected by banks and law enforcement agencies. The Reserve Bank is facilitating implementation of the system in collaboration with NCRB. A survey-based estimation of FICN carried out by the Reserve Bank is presented in Box

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CBEC Press Release dt 30.08.2017 on — “GST (Compensation to States) Act 2017”

  PRESS RELEASE Dated 30th August 2017 The Schedule to the Goods and Service Tax (GST) (Compensation to States) Act 2017, specifies the maximum rate at which Goods and Service Tax Compensation Cess may be collected. In respect of motor vehicles, the maximum rate, at which Goods and Service Tax Compensation Cess may be collected, is 15%. 2. Consequent to the GST Council’s recommendation, the Cabinet in its meeting on 30th August, 2017 approved promulgation of an ordinance to suitably amend the Goods and Services Tax (Compensation to States) Act, 2017, so as to increase the maximum rate, at which the Compensation cess can be levied from 15% to 25% on: a) motor vehicles for transport of not more than thirteen persons, including the driver [falling under sub-headings 8702 10,

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​Rajaswa Gyan Sangam, 2017 – Curtain Raiser

  Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 30th August, 2017 PRESS RELEASE Subject: Rajaswa Gyan Sangam, 2017 – Curtain Raiser The Central Board of Direct Taxes (CBDT) and the Central Board of Excise & Customs (CBEC) have been holding annual Conferences of senior officers for a number of years. In 2016, for the first time, a joint Conference of the two Boards was held under the umbrella of “Rajaswa Gyan Sangam” which was inaugurated by the Hon’ble Prime Minister. This year also, a joint Conference of the two Boards is scheduled to be held on 1st and 2nd of September, 2017 at Vigyan Bhawan, New Delhi, which will be inaugurated by the Hon’ble Prime Minister in the presence of the

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Revised guidelines for stay of demand before CIT(A) is prospective: CBDT

  F.N0.404/72/93-1TCC (FTS:284146) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 25th August, 2017 OFFICE MEMORANDUM Subject: Partial modification of Instruction No. 1914 dated 21.3.1996 to provide for guidelines for stay of demand at the first appeal stage. Reference : Board’s O.M. of even number dated 29.2.2016 and 31.7.2017. Vide Board’s O.M. of even number dated 31.7.2017, modifications were made to O.M NO. 404/72/93-1TCC dated 29.2.2016. to the effect that the standard rate prescribed in O.M. dated 29.2.2016 stood revised to 20% of the disputed demand, where the demand was contested before CIT(A). It is hereby clarified that the modifications laid down in Board’s O.M. dated 31 7.2017 are prospective in nature and matters already decided as per Board’s O.M. of even

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Credit Information Companies (Amendment) Regulations, 2017

  RESERVE BANK OF INDIA NOTIFICATION Mumbai, the 11th August, 2017 THE CREDIT INFORMATION COMPANIES (AMENDMENT) REGULATIONS, 2017 No. BBR.CID. No. 786/20.16.050/2017-18.—In exercise of the powers conferred by section 37 of the Credit Information Companies (Regulation) Act, 2005 (Act 30 of 2005), the Reserve Bank of India hereby makes the following regulations, to amend the Credit Information Companies Regulations, 2006. 1. Short title and commencement (1) These regulations may be called the Credit Information Companies (Amendment) Regulations, 2017. (2) They shall come into force on the date of their publication in the official gazette. 2. Amendment of regulation 3 In the Credit Information Companies Regulations, 2006, in regulation 3, (i) for the words ‘following companies’, the words ‘following persons’ shall be substituted (ii) after clause (g), the following shall be inserted, namely,

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Commencement of sub-sections (8) to (10) of section 212 of CA 2013

  [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (ii)l Government of India MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, 24h August, 2017 S.O._(E).- In exercise of the powers conferred by sub-section (3) of section 1 of the Companies Act, 2013 (18 of 2013), the Central Government hereby appoints the 24th day of August,2017 as the date on which the provisions of sub-sections (8), (9) and sub-section (10) of section 212 of the said Act shall come into force. [F.No. 1/12/2013 CL-V] AMARDEEP SINGH BHATIA, Jt. Secy.

List out all GST Transition related issues: CBEC Chairman

  Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs North Block, New Delhi – 110 001 Tel. : +91-11-23092849, Fax : +91-11-23092890 E-mail : chmn-cbec@nic.in DO.No.24/CH(EC)/2017 Dated 25th August, 2017 Dear Colleagues, As you are aware, the 2nd Rajaswa Gyan Sangam is scheduled for 1st and 2nd September, 2017. The Hon’ble Prime Minister is going to address the plenary session and Hon’ble Speaker of Lok Sabha is scheduled to address the valedictory session. Many eminent constitutional functionaries are going to grace the conference. In the light of this background, I have written a letter to all the CCs/DGs/Pr. Commissioners/Commissioners for compliance. DGTS has already initiated the exercise to update SAMPARK and make it available on mobile platform. The mobile app will be launched

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Identifying dealers effecting sale of non-GST goods after 01/07/2017

  Office of: Commissioner of Sales Tax, 8th Floor, GST Bhavan, Mazgaon, Mumbai- 400010 Trade Circular To No: JC/Mahavikas/Non- GST Dealers/2017-18/B- 536 Mumbai, Date 24/8/2017 Trade Circular No: 37T of 2017 Sub: Identifying dealers who are effecting sale of non- GST goods after 01/07/2017. Ref: 1) Maharashtra Goods and Services Tax Act, 2017. 2) Central Goods and Services Tax Act, 2017. 3) Integrated Goods and Services Tax Act, 2017. 4) Maharashtra Act No. XLII of 2017. 5) The Taxation Law (Amendment) Act, 2017. Madam/Gentlemen, A.Background: 1. The Maharashtra Goods and Services Tax Act, 2017 (hereinafter referred to as MST Act”), Central Goods and Services Tax Act, 2017 (hereinafter referred to as “CGST Act’) and Integrated Goods and Services Tax Act, 2017 (hereinafter referred to as “IGST Act”) have come into force from

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ICAI signed MoU with ICA Nepal (ICAN)

  24th August 2017 Press Release ICAI signed MoU with ICA Nepal (ICAN) to establish mutual co-operation for the advancement of accounting knowledge, professional and intellectual development in Nepal and India The Institute of Chartered Accountants of India (ICAI) signed the Memorandum of Understanding (MoU) with the Institute of Chartered Accountants of Nepal (ICAN) in the august presence of Shri Narendra Modi, Hon’ble Prime Minister of India and Hon’ble Prime Minister of Nepal Shri Sher Bahadur Deuba today at Hyderabad House, New Delhi during the five day high level delegation visit from Nepal to India. CA. Nilesh S. Vikamsey, President – ICAI and CA. Prakash Jung Thapa, President – ICAN today exchanged the signed copy of MoUs and stated that this MoU would be another milestone between the two Institutes in the

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