Day: March 19, 2018

RBI bans all Indian banks from issuing LoUs, LoCs

MUMBAI: The Rs 12,700-crore fraud at Punjab National Bank has prompted the Reserve Bank of India to ban the use of letters of undertaking (LoUs) and letters of comfort (LoCs). LoUs and LoCs are two of the instruments issued by Indian banks to domestic importers to get foreign exchange from banks abroad at a […]

Property tax payment to go online

By the end of this month, residents will also be able to make online payments of property tax dues. “The online system will be operational by March-end. We know there is a lot of curiosity about this and we are working to start the online platform soon,” said Sarit Bhattacharya, […]

Govt to speed up export refund claims under GST

Tribune News Service New Delhi, March 16 The government has assured the exporting community that it is keen to see that all their eligible refund claims under GST are considered and sanctioned at the earliest.In a statement, the Finance Ministry said that unverified estimates of pending GST refunds on account […]