SIXTH SCHEDULE [Articles 244(2) and 275(1)] [AS AMENDED BY THE CONSTITUTION (ONE HUNDRED AND FIRST AMENDMENT) BILL, 2016 AS PASSED BY RAJYA SABHA ON 3RD AUGUST, 2016] SIXTH SCHEDULE [Articles 244(2) and 275(1)] PROVISIONS AS TO THE ADMINISTRATION OF TRIBAL AREAS IN THE STATES OF ASSAM, MEGHALAYA, TRIPURA AND MIZORAM ***** Powers to assess and… Read More »
ARTICLE 368 [AS AMENDED BY THE CONSTITUTION (ONE HUNDRED AND FIRST AMENDMENT) BILL, 2016 AS PASSED BY RAJYA SABHA ON 3RD AUGUST, 2016] ARTICLE 368 Power of Parliament to amend the Constitution and procedure therefor. 368. (1) Notwithstanding anything in this Constitution, Parliament may in exercise of its constituent power amend by way of… Read More »
ARTICLE 366 [AS AMENDED BY THE CONSTITUTION (ONE HUNDRED AND FIRST AMENDMENT) BILL, 2016 AS PASSED BY RAJYA SABHA ON 3RD AUGUST, 2016] ARTICLE 366 Definitions. 366. In this Constitution, unless the context otherwise requires, the following expressions have the meanings hereby respectively assigned to them, that is to say— (1) “agricultural income” means agricultural… Read More »
ARTICLE 286 [AS AMENDED BY THE CONSTITUTION (ONE HUNDRED AND FIRST AMENDMENT) BILL, 2016 AS PASSED BY RAJYA SABHA ON 3RD AUGUST, 2016] ARTICLE 286 Restrictions as to imposition of tax on the sale or purchase of goods 286. (1) No law of a State shall impose, or authorise the imposition of, a tax on… Read More »
Article 279A of Constitution of India 1950 [ After article 279 , new Article 279A of Constitution of India Inserted by the Constitution (One Hundred and First Amendment) Act, 2016, w.e.f. 12-9-2016. ] Article 279A : Goods and Services Tax Council. 279A. (1) The President shall, within sixty days from the date of commencement of the… Read More »
RBI/2016-17/32 FIDD.CO.FSD.BC.No 9/05.02.001/2016-17 August 4, 2016 To, The Chairman / Managing Director All Public & Private Sector Scheduled Commercial Banks Dear Sir/Madam Union Budget – 2016-17 Interest Subvention Scheme As directed by the Government of India and in pursuance of the budget announcement relating to the Interest Subvention Scheme 2016-17 (the Scheme) it is advised… Read More »
RBI/2016-17/33 DBR.No.Leg.BC.3/09.07.005/2016-17 August 04, 2016 All Scheduled Commercial Banks (Including RRBs) Dear Sir/ Madam, Dishonour of cheques – Modification in procedure Please refer to our circular DBOD.BC.Leg.No.113/09.12.001/2002-03 dated June 26, 2003 and paragraph 11.4 (i) of RPCD.CO.RRB.BC.No.100/03.05.33/2013-14 dated May 12, 2014 wherein banks were advised to introduce a condition for operation of accounts with cheque… Read More »
RBI/2016-17/34 RBI/2016-17/DBR.FID.No. 1/01.02.000/2016-17 August 04, 2016 All India Financial Institutions (Exim Bank, NABARD, NHB and SIDBI) Madam / Dear Sir, Implementation of Indian Accounting Standards (Ind AS) The Ministry of Corporate Affairs (MCA), Government of India has notified the Companies (Indian Accounting Standards) Rules, 2015 on February 16, 2015. A reference is also invited to… Read More »
GOODS AND SERVICES TAX THE ROADMAP TO GST (Extracts from Presentation of Revenue Secretary’s of Govertment of India ) • Establishment of Legal Framework • Preparation of IT infrastructure • Change Management: • Training of Officials and Staff • Outreach and Consultation with trade and industry • Target date of GST Roll Out: 1st April 2017… Read More »
Revenue Secretary’s presentation on next steps required on Goods Services Tax Revenue Secy’s presentation on next steps required on Goods and Service Tax (GST) Click here to see GST Report