| RBI to phase out high value clearing for Cheques drawn over 1 Lakh Rupees Posted: 23 Apr 2009 07:57 PM PDT 
High value clearing, the facility that enables depositors to encash cheques drawn for over Rs 1 lakh the next day, is set to be phased out. The Reserve Bank of India (RBI) has increased the minimum...  |
| Banks allowed to open ATMs without Central Bank approval: RBI Posted: 23 Apr 2009 07:53 PM PDT 
The Reserve Bank on Tuesday allowed banks to open ATMs outside their branches without permission from the central bank. "It is proposed to allow scheduled commercial banks (SCBs) to set up...  |
| RBI to withdraw NPA relaxation facility from 1st July 2009 Posted: 23 Apr 2009 07:48 PM PDT 
The Reserve Bank of India (RBI) has informed banks that some of the modifications allowed to facilitate restructuring of non-performing assets(NPA) in view of the ongoing downturn in the Indian...  |
| Interest paid or payable to the micro, small and medium enterprises required to be reported in 3CD report Posted: 23 Apr 2009 07:46 PM PDT 
Large companies may, henceforth, not find it easy to escape the taxman's net with regard to the interest paid or payable to the micro, small and medium enterprises (MSMEs) on overdue payments to...  |
| RBI cuts Repo & Reverse Repo rates by 25 basis points, loans to go cheaper Posted: 23 Apr 2009 07:34 PM PDT 
In a move that could bring further relief to the home, auto and corporate borrowers, the Reserve Bank today cut short-term lending (repo) and borrowing (reverse repo) rates by 25 basis points. In...  |
| RBI deal with the problem of black money being hidden in tax havens by continuously updating its regulations Posted: 23 Apr 2009 07:30 PM PDT 
The Reserve Bank on Tuesday said it would deal with the problem of black money being hidden in tax havens by continuously updating its regulations in line with the G-20 guidelines on strengthening...  |
| CA, CS and cost accountants facing disciplinary action can now appeal to specialised appellate tribunal instead of high court Posted: 23 Apr 2009 06:41 PM PDT 
Chartered accountants, company secretaries and cost accountants facing disciplinary action from their professional regulators can now appeal to a specialised appellate tribunal instead of a high...  |
| HC & Sc judgment prevail over excise department circulars & Instructions: SC Posted: 23 Apr 2009 06:25 PM PDT 
The Supreme Court last week emphasised that circulars and instructions issued by the customs and excise boards are no doubt binding on the authorities but when the Supreme Court or a high court...  |
| Development Authorities/ Urban civic bodies under CBDT's lens Posted: 23 Apr 2009 06:18 PM PDT 
Local city development agencies, such as Delhi Development Authority and Noida Development Authority, which have been raking in the moolah for some time from their housing projects, have drawn the...  |
| Three more credit information companies get RBI nod to do business Posted: 23 Apr 2009 06:11 PM PDT 
Reserve Bank of India has allowed three more credit information companies to do business.. The banking regulator has also permitted the only existing local credit bureau Cibil (Credit Information...  |
| Service Tax – Access to registered premises – Empowerment of Officers thereof Posted: 23 Apr 2009 05:58 PM PDT 
OFFICE OF THE COMMISSIONER OF CENTRAL EXCISE:: MADURAI-625 002. Trade Notice No. 19 /2009 Dated: 13.03.2009. Service Tax No. 11/2009 Sub:- Service Tax – Access to...  |
| Certification by Central Board of Film Certification(CBFC) do not constitute taxable service Posted: 23 Apr 2009 05:52 PM PDT 
OFFICE OF THE COMMISSIONER OF CENTRAL EXCISE:: MADURAI-625 002. Trade Notice No. 18 /2009 Dated: 13.03.2009. Service Tax No. 10 /2009 Sub: - Service Tax – Demand of Service Tax on...  |
| Schools running transport services for their students not liable to pay service tax Posted: 23 Apr 2009 05:42 PM PDT 
OFFICE OF THE COMMISSIONER OF CENTRAL EXCISE:: MADURAI-625 002. Trade Notice No. 17 /2009 Dated: 13.03.2009. Service Tax No. 9 /2009 Sub: Taxability of the Schools...  |
| Service Tax – Clarification regarding leviability of service tax on ship broking activity Posted: 23 Apr 2009 05:37 PM PDT 
OFFICE OF THE COMMISSIONER OF CENTRAL EXCISE: MADURAI-625 002. Trade Notice o. 16 /2009 Dated: 13.03.2009. Service Tax No. 8 /2009 Sub: - Service Tax – Clarification...  |
| Business Auxiliary Services - Commission received by Directors not liable to Service tax Posted: 23 Apr 2009 05:32 PM PDT 
OFFICE OF THE COMMISSIONER OF CENTRAL EXCISE:: MADURAI-625 002. Trade Notice No. 15 /2009 Service Tax No. 7 /2009 Dated: 13.03.2009. Sub: Service Tax – Clarification regarding...  |
| Service Tax – Utilisation of accumulated CENVAT credit restricted in terms of erstwhile Rule 6(3)( c) of CENVAT Credit Rules, 2004 Posted: 23 Apr 2009 05:27 PM PDT 
OFFICE OF THE COMMISSIONER OF CENTRAL EXCISE:: MADURAI-625 002. Trade Notice No. 14 /2009 Dated: 13.03.2009. Service Tax No. 6 /2009 Sub:- Service Tax –...  |
| Levy of service tax on production of Alcoholic beverages on job work basis Posted: 23 Apr 2009 05:22 PM PDT 
OFFICE OF THE COMMISSIONER OF CENTRAL EXCISE:: MADURAI Trade Notice No. 13 /2009 Dated: 13.03.2009. Service Tax No. 5 /2009 Sub: Service Tax – Levy of service tax on production...  |
| Cenvat credit of excise duty/CVD paid on goods used in providing Supply of Tangible Goods service Posted: 23 Apr 2009 05:15 PM PDT 
OFFICE OF THE COMMISSIONER OF CENTRAL EXCISE:: MADURAI-625 002. Trade Notice No. 12 /2009 Dated: 13.03.2009. Service Tax No. 4 /2009 Sub:- Service Tax – Credit on...  |
| Delhi High Court held levy of service tax on Commercial Rent Unconstitutional Posted: 23 Apr 2009 05:01 PM PDT 
The Delhi High Court has struck down the levy of service tax on renting of immovable property as "unconstitutional", while deciding 26 writ petitions of different petitioners, by a...  |
| SAT cannot set aside orders passed by SEBI U/s. 12(1) of the SEBI Act related to registration of brokers: SC Posted: 23 Apr 2009 04:55 PM PDT 
The Securities and Exchange Board of India (Sebi) won a crucial judgment in the Supreme Court against the Securities Appellate Tribunal (SAT), which has many a time set aside its orders. The SC on...  |