Daily Archives: July 15, 2016

Customs (Import of goods at concessional rate of duty for manufacture of excisable goods) second (amendment) Rules 2016

By | July 15, 2016

Customs (Import of goods at concessional rate of duty for manufacture of excisable goods) second (amendment) Rules 2016 Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs Notification No 100/2016-Cus (NT), dt. 14-07-2016 G.S.R. (E).- In exercise of the powers conferred by section 156 of the Customs Act, 1962… Read More »

Exim Bank’s GoI supported Line of Credit of USD 86.31 million to Myanma Foreign Trade Bank (MFTB), Myanmar

By | July 15, 2016

RBI/2016-17/13 A.P. (DIR Series) Circular No. 02 July 14, 2016 To All Category – I Authorised Dealer Banks Madam/Sir, Exim Bank’s GoI supported Line of Credit of USD 86.31 million to Myanma Foreign Trade Bank (MFTB), Myanmar Export-Import Bank of India (Exim Bank) has entered into an agreement dated December 11, 2013 with Myanma Foreign… Read More »

Advance Discharge Voucher not executed :Life Insurer shall not withhold payment

By | July 15, 2016

Source : Insurance Regulatory and Development Authority of India Date:13-07-2016 Life Insurers discharge contractual obligations when making policy payments be it maturity or death claims or surrender value etc. Contracts of life insurance are not indemnity contracts but fixed benefit type and the claim amount is usually not in dispute. It is a standard practice… Read More »

Atomic Minerals Concession Rules 2016 Notified by Govt

By | July 15, 2016

Atomic Minerals Concession Rules 2016 MINISTRY OF MINES NOTIFICATION New Delhi, the 11th July, 2016 G.S.R. 677(E).—In exercise of the powers conferred by section 11B of the Mines and Minerals (Development and Regulation) Act, 1957 (67 of 1957), the Central Government hereby makes the following rules, namely CHAPTER I PRELIMINARY 1. Short title and commencement.-… Read More »

Foreign income can be declared before Settlement Commission if tax notice issued before enforcement of Black Money Act

By | July 15, 2016

HIGH COURT OF MADRAS Arun Mammen Kandathil M. Mammen v. Union of India T.S. SIVAGNANAM, J. W.P. NOS. 22216 TO 22219 OF 2015 M.P. NOS. 1 TO 1 AND 2 TO 2 OF 2015 JUNE  21, 2016 V.T. Gopalan, Senior Counsel and Suhrith Parthasarathy for the Petitioner. T. Promod Kumar Chopda for the Respondent. ORDER… Read More »

Inland Vessels (Prevention and Control of Pollution and Protection of Inland Water) Rules 2016

By | July 15, 2016

THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] MINISTRY OF SHIPPING NOTIFICATION New Delhi, the 13th July, 2016 G.S.R. 687(E).—Whereas, the draft Inland Vessels (Prevention and Control of Pollution and Protection of Inland Water) Rules, 2016, were published, in exercise of the powers conferred by section 54H of the Inland Vessels Act,1917 (1 of… Read More »

Investments in Non-SLR instruments by State / Central Co-operative Banks

By | July 15, 2016

RBI/2016-17/14 DCBR.BPD.BC.No. 01/19.51.026/2016-17 Ashadha 23, 1938 July 14, 2016 All State / Central Co-operative Banks Dear Sir / Madam, Investments in Non-SLR instruments by State / Central Co-operative Banks Please refer to our circulars RPCD.CO.RF.BC.26/07.02.03/2005-06 dated August 4, 2005 and DCBR.CO.RCBD.BC.No.5/19.51.026/2015-16 dated October 21, 2015 on the captioned subject. 2. With a view to providing… Read More »

Category: RBI

Pravasi Bharatiya Samman Awards Regulations revised

By | July 15, 2016

THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1] MINISTRY OF EXTERNAL AFFAIRS NOTIFICATION New Delhi, the 13th July, 2016 F.No.OI-11014/37/2016-OIA-II.—In supersession of the notifications of the Government of India listed below, the President is pleased to revise the regulations governing the Pravasi Bharatiya Samman Awards (hereafter referred to as the Award), as follows:- I.… Read More »