Ministry of Finance Flag of India #StayHome #StaySafe
@FinMinIndia – Tweet

There is no proposal under consideration of Govt for any cut whatsoever in the existing salary of any category of central government employees. The reports in some section of media are false and have no basis whatsoever.

The Ministry of Finance already published a statement regarding this salary cut in April. He denied the media reports and demanded to be aware of the false news.

Few News Channels announced that, during this corona virus outbreak, central government plans to reduce salaries of central government employees by 30 percent.

The post No proposal to reduce salary of Central Government employees – Ministry of Finance appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.

Ministry of Finance

Cabinet approves 5% additional DA/DR due July, 2019

Posted On: 09 OCT 2019 2:40PM by PIB Delhi

The Union Cabinet Chaired by Prime Minister Narendra Modi today approved to release an additional instalment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners w.e.f. 01.07.2019 representing an increase of 5% over the existing rate of 12% of the Basic pay/Pension, to compensate for price rise. This increase is in accordance with the accepted formula, which is based on the recommendations of the 7th Central Pay Commission.

The combined impact on the exchequer on account of both Dearness Allowance and Dearness Relief would be Rs. 15909.35 crore per annum and Rs. 10606.20 crore in the financial year 2019-20 (for a period of 08 months from July, 2019 to February, 2020). This will benefit about 49.93 lakh Central Government employees and 65.26 lakh pensioners.

Also read: Non-Productivity Linked Bonus to Central Government Employees 2019

The additional financial implication on account of this increase in Dearness Allowance is estimated at Rs 8590.20 Crore per year; and Rs 5726.80 Crore in the current Financial Year of 2019-20 (for 8 months from July 2019 to February 2020).

The additional financial implication on account of the Dearness Relief to pensioners is estimated to be Rs 7319.15 Crore per annum and Rs 4870 Crore in the current FY.

Dear Allowance/Dearness Relief is paid to Central Government employees/pensioners to adjust the cost of living and to protect their basic pay/pension from erosion in the real value. Dear Allowance/Dearness Relief is revised twice a year from 1st January and 1st July.

PIB

Read this: RAILWAY EMPLOYEES BONUS 2019

The post Cabinet approves 5% additional DA/DR to Central Government employees due July, 2019 appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.

No. A-11013/17/2019-Ad.IV
Government of India
Ministry of Finance
Department of Revenue
Central Board of Indirect Taxes & Customs

5th Floor, HUDCO Vishala Building,
Bhikaji Cama Place, R.K Puram, New Delhi
Dated: 6 June, 2019

ORDER No. 07/Ad.IV/2019

Subject- Change of nomenclature of the post of Superintendent of Central Excise working in the Directorates under CBIC as Additional Assistant Director – reg.

Approval of the Competent Authority, CBIC is hereby conveyed for change of nomenclature of the post of Superintendent of Central Excise working in the Directorates under CBIC as Additional Assistant Director (AAD).

The change in nomenclature comes into force with immediate effect.

Yours faithfully,

(Xavier Toppo)
Under Secretary to the Govt. of India

Source: cbic.gov.in

The post Change of nomenclature of the position of Central Excise Superintendent working in the Directorates under CBIC as Additional Assistant Director appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.

GST Revenue collection for April, 2019 recorded highest collection since GST implementation

Posted On: 01 MAY 2019 3:09PM by PIB Delhi

The total gross GST revenue collected in the month of April, 2019 is Rs 1,13,865 crore of which CGST is Rs 21,163 crore, SGST is Rs 28,801 crore, IGST is Rs 54,733 crore (including Rs 23,289 crore collected on imports) and Cess is Rs 9,168 crore (including Rs 1,053 crore collected on imports). The total number of GSTR 3B Returns filed for the month of March up to 30th April, 2019 is 72.13 lakh.

The government has settled Rs 20,370 crore to CGST and Rs 15,975 crore to SGST from IGST as regular settlement. Further, Rs 12,000 crore has been settled from the balance IGST available with the Centre on provisional basis in the ratio of 50:50 between Centre and States. The total revenue earned by Central Government and the State Governments after regular and provisional settlement in the month of April, 2019 is Rs 47,533 crore for CGST and Rs 50,776 crore for the SGST.

The revenue in April, 2018 was Rs 1,03,459 crore and the revenue during April, 2019 is a growth of 10.05% over the revenue in the same month last year. The revenue in April, 2019 is 16.05% higher than the monthly average of GST revenue in FY 2018-19 (Rs 98,114 crore).

The post GST Revenue collection for April, 2019 recorded highest collection since GST implementation appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.

F.No.01/04/2016-NS
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)

Office Memorandum

North Block, New Delhi
Dated: 29.03.2019

Subject: Revision of interest rates for Small Savings Schemes.

On the basis of the decision of the Government, interest rates for small savings schemes are notified on quarterly basis since 1st April, 2016 . Accordingly, the rates of interest on various small savings schemes for the first quarter of financial year 2019-20 staring 1st April, 2019 and ending on 30th June, 2019 shall remain unchanged from those notified for the fourth quarter of financial year 2018-19.

This has the approval of Finance Minister.

sd/-
(Akhilesh Kumar Misra)
Director
Tele : 01123092744

Source: Dea.gov.in

The post Revision of interest rates for Small Savings Schemes appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.

The post 33.66 crore Accounts Opened under Pradhan Mantri Jan DhanYojana (PMJDY) as on 26.12.2018 appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.

Banks will only observe holidays on Sunday, 2nd September and second Saturday, 8th September ; Monday, 3rd September is not a pan India holiday

ATMs in all States will be fully functional; Banks advised to ensure availability of sufficient cash for dispensation from ATMs
Posted On: 31 AUG 2018 11:19AM by PIB Delhi
It has come to notice that a rumour is circulating in several sections of the social media that banks will be closed for 6 days in the first week of September 2018, causing undue panic among the general public.

It is hereby clarified that banks will remain open and banking activity will continue unimpeded in the first week of September. Banks will only observe holidays on Sunday, 2nd September and second Saturday, 8th September. Monday, 3rd September is not a pan India holiday and banks only in some States where a holiday is declared under the Negotiable Instruments Act, 1881 will remain closed.

Even on those days, ATMs in all States will be fully functional and there will be no impact on online banking transactions. Banks have been advised to ensure that sufficient cash is available for dispensation from ATMs. Banks will remain open on all other days.

PIB

The post Banks will remain open and banking activity will continue unimpeded in the first week of September appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.

26 MAR 2018

In keeping with India’s commitment to implement the Recommendations of the 2015 Final Report on Action 13, titled “Transfer Pricing Documentation and Country-by-Country Reporting”, identified under the OECD Base Erosion and Profit Shifting (BEPS) Project, Section 286 of the Income-tax Act, 1961 (‘the Act’) was inserted vide Finance Act, 2016, which provides for furnishing of a Country-by-Country (CbC) Report in respect of an International Group.
The CbC Report is to be furnished by the ultimate parent entity of an International Group in the country or territory of its residence. As specified under sub-section (2) of Section 286, the said Report is to be furnished on or before the due date specified under Section 139(1) of the Act for furnishing of return of income for the relevant accounting year. The date for furnishing of CbC Report under sub-section (2) of Section 286 for FY 2016-17 was subsequently extended to 31stMarch, 2018 vide CBDT Circular No. 26 of 2017 dated 25th October, 2017.
Sub-section (4) of Section 286 specifies situations in which the said report shall be furnished in India by the constituent entity of an international group, resident in India, namely, those in which there is failure to obtain CbC Report on account of the parent entity being resident of a country or territory with which India does not have an agreement providing for exchange of CbC reports or where there has been a systemic failure of the country or territory and the same has been intimated to such constituent entity.

It has been brought to the notice of the Government that Constituent Entities of International Groups, resident in India, have apprehensions that the due date of furnishing of CbC Report under sub-section (4) of Section 286 is also 31st of March, 2018.

In order to allay the aforesaid apprehensions, it is hereby clarified that the due date of 31st March, 2018 applies for furnishing of CbC Report under sub-section (2) of Section 286 only and not under sub-section (4) of the said Section.

It is further stated that the Finance Bill, 2018 (as passed by the Lok Sabha) has proposed that the due date for furnishing of CbC Report under sub-section (4) of Section 286 shall be as prescribed. Accordingly, the time for furnishing of CbC Report under sub-section (4) of Section 286 of the Act is proposed to be prescribed after the enactment of Finance Bill, 2018.

PIB

The post The Government of India issues clarification regarding requirement for furnishing of Country-by Country Report under Section 286(4) of Income Tax Act, 1961 appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.

GOVERNMENT OF INDIA (BHARAT SARKAR)
MINISTRY OF RAILWAYS (RAIL MANTRALAYA)
(RAILWAY BOARD)

S.No.72/PC-VII

RBE No: 161/2017

New Delhi, dated: 31/10/2017

File No. PC-VII/2017/RSRP/1

The General Manager/CAOs(R),

All Indian Railways & Production Units,

(As per mailing list)

Sub :- Adoption of clarification issued by Ministry of Finance regarding modifications of Level-13 of Pay Matrix.

Modifications to Railway Services (Revised Pay) Rules, 2016 were notified vide Gazette Notification No. G.S.R 882(E) dated 14.07.2017 thereby making changes in Level-13 of the Pay Matrix.

2.Now, Ministry of Finance (Department of Expenditure) vide their O.M No. 4-6/2017-IC/E-III(A) dated 28.09.2107 (copy enclosed) has issued detailed clarifications addressing the following issues arising out of the modification to Level-13 of the Pay Matrix:

(i) Issue No. 1 – Whether pay in the Level-13 is to be fixed by multiplying by a factor of 2.57 or 2.67

(ii) Issue No. 2 – Pay re-fixed in the modified Level-13 working out lower than the pay fixed in the earlier Level-13.

(iii) Issue No. 3 – Re-exercise of option for coming over to the Revised pay structure in case of Level-13.

3. The clarifications issued by Ministry of Finance (Department of Expenditure) vide their O.M dated 28.09.2017 will be applicable mutatis mutundis in Railways with respect to RS(RP) Rules, 2016 and amendment notified on 14.07.2017. However, the period for any recovery or waving off recovery will be upto 31.07.2017 as the amendments to the RS(RP) Rules, 2016 were notified in July, 2017. Similarly, the time period for re-exercise of options, if any, as mentioned in para-15 of the enclosed O.M will count from the date of issue of this letter.

4.The cases of employees who retired on or after 01.01.2016 and upto 31.07.2017 and if covered under para 12 of Ministry of Finance’s OM dated 28.09.2017, shall be processed as per Rule 90 of Railway Services (Pension) Rules, 1993.

5.Hindi version will follow.

S/d,
(Jaya Kumar G)
Deputy Director, Pay Commission-VII
Railway Board

The post Adoption of clarification issued by Ministry of Finance regarding modifications of Level-13 of Pay Matrix appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.

There is a press note floating around on social media regarding certain decisions taken by the Cabinet related to pay and pensionary modalities related to the 7th Central Pay Commission (CPC). Though many have questioned its veracity, this is to confirm that it is absolutely a valid document and has been officially issued by the Ministry of Finance.

That said, let me run through some of the important decisions taken by the Cabinet, clarifications thereon and their impact. Please note that the new Pay Rules issued by the Ministry of Defence do not take into account the changes in the pay structure or removal of anomalies and these shall be incorporated through separate amendments in the rules issued on 03 May 2017.

Restoration of Percentage based Disability Pension Rates

The 7th CPC had recommended ‘flat/slab’ rates of disability pension for the defence services rather than the ones based upon ‘percentage of pay’. Civil disabled personnel were however retained on the percentage system as before. As stated earlier, frankly, I never expected this regressive 7th CPC recommendation to be accepted by the Government, but unfortunately it was. While recommending this aspect, the 7th CPC had also made unfounded and uncharitable remarks against disabled soldiers by casting aspersions on those who have incurred disabilities while in service which was discussed in detail by me earlier in my opeds, here and here. This resulted in a massive decrease after the 7th CPC resulting in a payout even lower than 6th CPC rates for almost all post-2016 retirees of all ranks and also for pre-2016 retirees of certain ranks. The arbitrariness of this decision becomes evident from the following chart at the apex levels:

Thankfully, the then Defence Minister, Mr Manohar Parrikar, fully understood the issue and took personal interest in getting the issue referred to an Anomaly Committee. The Defence Services HQ as well as the Ministry, and even civilian employee organisations, supported the resolution of this anomaly which now stands addressed and the Cabinet has decided to retain the old system of calculation on percentage basis, that is, 30% of pay shall remain the disability element for 100% disability. I however do hope that a protection clause is introduced for pre-2016 retirees of lower ranks who stood to gain from the slab rates.

Improvement in Pension calculation system for pre-2016 civil and defence retirees

The Cabinet has also accepted an improvement over and above the system of pension calculation which was finally effectuated after the 7th CPC. Rather than basing the pensionary calculations on the “Old Pension X 2.57” formula, an option would be provided to calculate the pension based upon the notional pay stage from which the employee had retired as opposed to the minimum of pay as was the system followed till the 6th CPC. Calculation of pension in this manner would definitely enhance the pension of civil pensioners and perhaps a small number of defence pensioners, who, in all probability would be provided the opportunity of choosing the most beneficial option, that is, the new formula, 2.57 multiplication formula or OROP rates. Contrary to popular perception, this does not exactly result in OROP for pre-2016 civil employees as is being projected, since while this is based on notional data, the military OROP is operated on live date of fresh retirees, moreover while this system is expected to be revised only after ten years, the military OROP as per the current scheme is meant to be revised after every five years.

Issuance of Pay Rules rather than Instructions on Pay

There were messages that the Chiefs of the Defence Services have been sidelined and downgraded since the earlier system of issuance of Special Army Instructions, Special Navy Instructions and Special Air Force Instructions (SAI/SNI/SAFI) has been discontinued and a new dispensation of ‘Pay Rules’ has been initiated. This seems to be the negative imagination of fertile minds. SAI/SNI/SAFI were never issued under the authority of the Chiefs of the Defence Services HQ but were always issued by the Ministry of Defence, that is, the Government of India. ‘Orders’ such as Army Orders (AO) etc were (and are) issued by the Defence Services HQ under the power of the Chiefs. The new Pay Rules have been promulgated under the authority of Article 309 of the Constitution of India and are statutory in character rather than being mere executive instructions like was the case till now. With this, the pay rules of the Defence Services are at par with the statutory pay rules of the civil services which are also issued under the authority of Article 309 of the Constitution of India.

Defence Pay Matrix to have 40 stages

The 7th CPC had recommended only 24 stages in the defence matrix while 40 stages were provided to civilians. This anomaly has been rectified and now the defence pay matrix shall also have 40 stages. This will particularly be helpful for JCOs towards the retiring years and will also beneficially affect their pension and other retiral benefits.

Multiplication factor of 2.67

This anomaly had been rectified earlier for Brigadiers and a multiplication factor of 2.67 had been applied for the said rank. Now the same benefit has also been extended to Lieutenant Colonels, Directors to Government of India and Colonels, that is, Levels 12A and 13 of the Pay Matrix.

Other Anomalies

There shall be pay protection for the amount of Military Service Pay (MSP) on promotion from the rank of Brigadier to Major General. It may be recalled that MSP is not entitled to ranks above the rank of Brigadier. No decision has been taken by the Government on the aspect of Non Functional Upgradation till now since the matter is being considered sub judice. On directions of the Supreme Court, the Government is re-considering the issue of NFU for Central Armed Police Forces for which a meeting was recently held. The issue is to be considered by the Government and the fresh decision is to be placed before the Supreme Court in August 2017. The most pertinent anomaly of enhancement of Military Service Pay, especially for JCOs, also remains pending along with other matters and probably these issues would be clearer after various anomaly committees submit their reports and a decision is taken thereafter by the Cabinet. The committee on allowances has already submitted its report which will now be examined by the Government. Unlike pay and pension which are admissible retrospectively from 01 January 2016, most freshly rationalized allowances shall only be admissible prospectively.

This is all I have to say at present, please DO NOT mail me individual queries on email or social media. You are free to discuss the above @ the comments section of this post.

Thank You.

Source: Maj Navdeep Blog

The post Clarifications and update on the Cabinet decisions on pay and pensionary issues emanating out of the 7th Central Pay Commission: By Maj Navdeep Singh appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.