RBI
RBI vide Notification dated July 14, 2016 came with the Facility for Exchange of Soiled/ Mutilated/ Imperfect Notes.
RBI notified that the banks shall exchange up to 20 pieces of soiled
currency notes with a maximum value of Rs 5,000 over the counter free of
charge. However, if the number of notes to be exchanged is more than
20, banks can levy service charge. The facility of exchanging mutilated
or imperfect notes is available at designated bank branches and also
non-chest branches. Further, RBI also said that where the number of
notes presented by a person is up to 20 pieces with a maximum value of
Rs 5000 per day, banks should exchange them over the counter, free of
charge and in case notes are presented in bulk (where the number exceeds
20 pieces or Rs 5,000 in value per day), banks will accept them,
against receipt, for value to be credited later. RBI stated that in case
of bulk exchange, banks can levy service charges. If the tendered value
is above Rs 50,000, banks are expected to take the usual precautions.
Further, the RBI also laid down norms for non-chest branches for
exchange of soiled notes.
DVAT
Department of Trade & Taxes vide Notification issued The Delhi Value Added Tax (Amendment) Act, 2016 which
requires a person to pay tax at the rates notified by the Government in
advance but not exceeding the rates applicable on such goods when he
imports such goods into the National Capital Territory of Delhi from a
place outside India and such goods shall not be sold below the price at
which such goods have been purchased and imported. Also, dealers may be
required to file the returns only through electronic mode appending
digital signatures or any other electronic identification process.
EPFO:
The
Employees Provident Fund Organisation has relaxed the provision that
requires furnishing of Universal Account Number (UAN) for the settlement
of claims like Provident Fund (PF) withdrawal for all those who left
membership before January 1, 2014. The EPFO had made it a must to
provide UAN on claims in December last year. "The decision to relax this
condition of providing UAN for claim settlement was taken after
considering difficulties being faced by those members who were not
allotted UAN".
Thanks & Regards,
Meetesh Shiroya
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