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PNB clarification -Rs. 942 cr not new fraud but recall of credit limits: Geetanjali Group
Punjab National BankShare Department, Finance Division, HO Plot No. 4Sector 10, Dwarka, New Delhi-110075Tel Nos : 011-28044866 E-mail : hosd@pnb.co.inScript Code : PNBScript Code : 532461The Asst. Vic...
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Request to Taxpayers to register on e-way bill Portal for generation of e-way bill
Dear Taxpayer,Greetings from Team GSTN.As you are aware, taxpayers sending or receiving goods are required to generate e-way bill for such movement of goods, as provided in Section 138 of the CGST Rul...
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9,073 cases under consideration in NCLT as on 31.01.2018
9,073 cases are under consideration in NCLT, including 1,630 cases of Merger and Amalgamation; 2,511 cases of insolvency and 4,932 cases under other sections of Companies Act.The Company Law Board (CL...
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CBDT amends Income Tax Notification No. 49/2015 with retrospective effect
vide notification no. 14/2018 dated: 13th March, 2018MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)Notification No. 14/2018New Delhi, the 13th March, 2018G.S.R. 221(E).—In e...
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Lok Sabha passes Finance Bill 2018 with amendments
The Lok Sabha on Wednesday passed the Finance Bill 2018 after the Finance Minister Arun Jaitley moved as many as 21 amendments. The relevant appropriation Bills moved by Jaitley were also passed throu...
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Income Tax Change with effect from 1st April 2018 and applicable to AY 18-19
The Budget 2018 has proposed a new cess – Health and Education Cess – which will be levied at the rate of 4% of income tax, including surcharge, in place of the current 3% Education, Secondary and Hig...
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Significant changes made in Finance Bill, 2018 as passed by the Lok Sabha
The Finance Bill, 2018 proposed a Proviso to Explanation 2A to section 9 to provide that the transactions or activities shall constitute significant economic presence in India, whether or not the non-...
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Resolution professional doesn’t require nod of shareholders/members for insolvency resolution
Ministry vide its circular no. IBC/01/2017 dated 25.10.2017 clarified that Section 30 and 31 of the Code provide a detailed procedure from the time of receipt of resolution plan by the resolution prof...
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No reduction in approval of resolution plans after enactment of IBC (Amendment) Ordinance 2017
There is no reduction in submission of resolution plans after enactment of The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2017. 8 (Eight) resolution plans have been approved by National Com...
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Security & operational controls in SWIFT environment to prevent fraud in Banks
Security and operational controls in SWIFT environmentReserve Bank of India (RBI) has apprised that it had issued two circulars to banks, related to security and operational controls in SWIFT (Society...
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ICAI announces financial assistance for needy & meritorious CA students
The Chartered Accountants’ Students Benevolent Fund (CASBF) – (13-03-2018)The Board of Trustees has decided to provide financial assistance of Rs. 1500/- p.m, for articled assistants who are registere...
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GST: Government to speed up input tax refund to exporters
Input Tax Refund to Exporters Government has decided to speed up input tax refund to exporters. As per rule 91 of CGST Rules, 2017, ninety per cent of the refund amount claimed shall be granted on a p...
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Division under GSTN- No Choice to Assessee to Opt for State or Centre
Division of assesses under GSTNThe division of assesses between Centre and State is decided by the Centre and State Governments. GSTN got an application developed using which Central and State tax aut...
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Post Union Budget 2018 Suggestion by Society of Auditors
POST UNION BUDGET 2018 MEMORANDUM Submitted to the Hon’ble Finance Minister, Union of India Through CBDT, INDIA By THE SOCIETY OF AUDITORS, CHENNAI in Feb, 2018About ‘The Society of Auditors, Chennai’...
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IBBI signs an MoU with Reserve Bank of India
Insolvency and Bankruptcy Board of India signs a Memorandum of Understanding with the Reserve Bank of IndiaThe Insolvency and Bankruptcy Board of India (IBBI) signed a Memorandum of Understanding (MoU...
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Limit collateral damage from bank frauds: ASSOCHAM
All out efforts must be made by banks, regulators, government and India Inc to limit the collateral damage from the alleged fraud in PNB, said the ASSOCHM today, cautioning over-reaction by the banks...
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Govt clarifies on undue advantage due to 20:80 scheme of gold imports
Government Issues Clarification on Gold Imports SchemeThe past few days have seen some misapprehensions being generated on the scheme of gold imports known as the 80:20 scheme. The factual position is...
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Report Card on Performance of Information Commissions in India
Report Card on the Performance of Information Commissions in IndiaKey FindingsSatark Nagrik Sangathan (SNS)&Centre for Equity Studies (CES)March 2018Report Card on the Performance of Information Commi...
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Recommendations on Data Analytics made during 26th GST Council meeting
Recommendations regarding Data Analytics made during the 26th meeting of the GST CouncilRecommendations regarding Data Analytics made during the 26th Meeting of Goods & Services Tax (GST) Council held...
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GST: Extension of Tax Exemptions for Exporters for six months
26th Meeting of the GST Council meets & decides Extension of tax exemptions for exporters for six monthsSending a strong positive signal to the exporting community, the GST Council in its 26thmeeting...