Master Circular- Disbursement of Govt Pension by Agency Banks

  RBI/2017-18/1 DGBA.GBD.No.-1/31.05.001/2017-18 July 1, 2017 All Agency Banks Dear Sir/Madam Master Circular – Disbursement of Government Pension by Agency Banks Please refer to our Master Circular RBI/2015-16/63 dated July 1, 2015 on the above subject. We have now revised and updated the Master Circular which consolidates important instructions on the subject issued by the Reserve Bank of India till June 30, 2017. 2. A copy of the revised Master Circular is enclosed for your information. This circular may also be downloaded from our website www.mastercirculars.rbi.org.in. Yours faithfully (S. Ramaswamy) Principal Chief General Manager Encl.: As above Master Circular – Disbursement of Government Pension by Agency Banks Introduction Payment of pension to retired government employees, including payment of basic pension, increased Dearness Relief (DR), and other benefits as and when announced by the governments, is

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ESIC payment due date pre-poned to 15th of following month

  Now due date for payment of ESIC is not within 21 days of following month, but within 15 days of following month.Regulation 31 stands amended whereby the contribution in respect of any employee shall be paid within 15 days of the last day of the calender month in which the contributions fall due. This shall come into force with effect from the contribution payable for the month of June, 2017 i.e. by 15fn July, 2017. Related Gazzate Notification dated 01/07/2017 is as follows :- THE GAZETTE OF INDIA, JULY 1. 2017 EMPLOYEES’ STATE INSURANCE CORPORATION New Delhi, the 01/07 /2017 No. N-12/13/1/2016-P&D—Whereas draft regulation further to amend the Employees’ State Insurance (General) Regulations, 1950 was published as required under sub-section ( I ) of section 97 of the Employees’ State

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MCA proposes to strike off name of 81 LLPs

  PUBLIC NOTICE [Pursuant to the Rule 37(2) of the LLP Rules, 2009] GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS OFFICE OF THE ROC -cum- OL, ODISHA CORPORATE BHAWAN PLOT NO. 9(P), SECTOR : I, CDA, CUTACK : 753 014. Public Notice No- ROC/LLP/Sec.75/ Dated the 30th June, 2017. Reference: In the matter of striking off of LLPs under section 75 of the LLP Act, 2008 read with the Rule 37 of the LLP Rules, 2009. 1. Notice is hereby given that the Registrar has a reasonable cause to believe that “The following LLPs in Table “A” (List of 81 Nos. LLPs) have not been carrying on any business or operation for a period of two immediately preceding financial years.” And, therefore, proposes to remove/strike off the names of the

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Request to not to circulate wrong GST related messages on social Media

  Appeal to people not to start circulating wrong messages on social media as no distinction is made in the GST Law on any provision based on religion. There are some messages going around in the social media stating that the temple trusts have to pay the GST while the churches and mosques are exempt. This is completely untrue because no distinction is made in the GST Law on any provision based on religion. We request to people not to start circulating such wrong messages on social media. Source- Press Information Bureau, Government of India, Ministry of Finance, Dated: 03-July-2017 20:51 IST

Post GST 22 States in India abolishes their check posts

  With The Roll-Out of GST, Check Posts Get Abolished Across 22 States in India The Goods and Services Tax (GST) was rolled out on 1st of July 2017. With the roll-out of the GST, 22 States in India have abolished their check posts. The details are as under – Andhra Pradesh Arunachal Pradesh Bihar Gujarat Karnataka Kerala Madhya Pradesh Maharashtra Sikkim Tamil Nadu West Bengal Chhattisgarh Delhi Goa Haryana Jharkhand Odisha Puducherry Rajasthan Telangana Uttar Pradesh Uttarakhand States where check posts are in the process of being abolished Assam Himachal Pradesh Manipur Meghalaya Nagaland Punjab Mizoram Tripura Source- Press Information Bureau, Government of India, Ministry of Finance, 03-July-2017 20:15 ISTF  

Cabinet Secretary reviews post GST situation

  Cabinet Secretary reviews post GST situation with Secretaries and Senior Officers of different Departments; Ask them among others to ensure that there is adequate supply of commodities especially essential and consumer items to keep their prices under check. The Cabinet Secretary, Shri P.K. Sinha reviewed the post GST implementation situation here today with the Secretaries and Senior Officers of the different Ministries/Departments of the Government of India. The Review Meeting was attended by the Secretaries/Senior Officers of different Ministries/Departments including Revenue, Textile, Food, Agriculture, Consumer Affairs & Public Distribution, Food Processing, Railways, MSME, Rural Development, Tourism, Fertilizers, Pharma and Department of Financial Services (DFS), Chairperson and Members of Central Board of Indirect Taxes and Additional Secretary,GST Council among others. The review was focused on the general situation after the

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GST effect: Honda Cars cuts vehicle prices by up to Rs 1.31 lakh

  HIGHLIGHTS The company has cut price of Brio by up to Rs 12,279 and that of compact sedan Amaze by up to Rs 14,825 Its premium SUV CR-V has also seen a price drop of up to Rs 1,31,663 The revised prices are for ex-showroom Delhi and will vary from state to state Honda Cars has cut the price of its recently launched model WR-V by up to Rs 10,064. (TOI photo) NEW DELHI: Honda Cars India has brought down prices of its models by up to Rs 1.31 lakh with immediate effect to help customers reap GST benefit. The company has cut price of its hatchback Brio by up to Rs 12,279 and that of compact sedan Amaze by up to Rs 14,825. Besides, it has slashed price of Jazz by up to Rs

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CBDT sends names of 12 CAs indulging in tax evasion to ICAI; govt mulling stricter penalties

  In a move to crackdown on Chartered Accountants indulging in unethical tax evasion, Central Board of Direct Taxes (CBDT) has sent a list of 12 CAs to the Institute of Chartered Accountants of India (ICAI) for action. The move comes a day after Prime Minister Narendra Modi urged CAs to work against tax evasion and not to help those who are trying to evade tax. CNBC-TV18’s Timsy Jaipuria learns from sources that CBDT has pitched for ICAI to take stringent actions against erring CAs. Sources also suggest that a task force has been appointed by the PMO to look into shell companies and is in talks with CBDT, CBEC and ICAI for stricter penalties. Under Income Tax Act, Section 278, any CA found indulging in tax evasion or helping

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Inspection of tax evaders later, first priority is facilitation of GST: Subhash Varshney

  On July 1, India rolled out the goods and services tax (GST), the country’s biggest tax reform since Independence. Aimed to be a single national uniform tax levied across the country on all goods and services, it is expected that GST will strengthen India’s fiscal health. In an interview with Moneycontrol, Subhash Varshney, Principal Commissioner of GST, Mumbai Zone spoke in length on the landmark tax reform and shared his views on how the economic scenario will look in the short term. Below is the complete interview transcript. Q: History has been made by the government, how do you see this move in terms of raising revenue of government? A: History has been made and we are very happy about that and our efforts are to implement this GST

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Offline Excel-based format for GSTN unveiled 

  The GST Network has launched an offline Excel-based format for traders and businesses to upload sales data on its portal in line with the July 1 rollout of the new indirect taxes reform. The Excel template, comprising eight worksheets, is part of GST Network’s approach to make tax compliance easy and convenient for taxpayers and also reduce the time for compliance. As per the GST law, a return of all sales or trade made in a month has to be filed online by 10th of the following month. This Excel template can be downloaded from the GST common portal (www.gst.gov.in) and can be used by taxpayers to collate all invoice related data on a regular basis. In the excel sheet, the businesses would have to give details of the

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