Notes on clauses-Indirect Tax Dispute Resolution Scheme, 2016

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....as on the 1st March, 2016, on payment of tax dues along with interest and twenty-five per cent. of the penalty imposed by the impugned order. The said scheme is applicable to the declarations made upto the 31st day of December, 2016. Clauses 216 to 220 of the Bill seeks to amend certain provisions of the Reserve Bank of India Act, 1934. It is proposed to amend section 2 of the Act so as to insert....

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....ne officer of the Bank to be nominated by the Central Board and three persons be appointed by the Central Government as Members to the Committee; (iii) section 45ZC to 45ZG deals with the terms and conditions of Members of the Monetary Policy Committee; (iv) the Bank shall provide all information to the Members of the Monetary Policy Committee that may be relevant to achieve the inflation target....