industry representatives

The core group for convergence of Indian Accounting Standards with International Financial Reporting Standards accepts the Report of Sub-Group 1. Ministry of corporate affairs reiterates commitment to carry out the convergence of Indian accounting standards by April, 2011. Full Article

The gems and jewellery industry wants provisions such as search and seizure and tax on gross assets in the Direct Taxes Code to be modified.It says these provisions could be detrimental to the sector’s growth which has been showing signs of recovery afterreeling under recession. Industry representatives also appealed to the Government to incentivise units in SEZs and EOUs. Full Article