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Archive: 19 December 2007

Posts in 19 December 2007

Misuse of Target Plus Scheme-Scope and Coverage of Goods to be imported under TPS-Reg

December 19, 2007 700 Views 0 comment Print

It is further clarified that under the TPS the exporter can import, within the entitlement, items in quantities in excess of that mentioned in SION or other items in the product group provided that, in either case, they form ‘inputs’ and are ‘used’ by him.

Notification No. 291/2007, Dated: 19.12.2007

December 19, 2007 358 Views 0 comment Print

The approved organization shall maintain a separate statement of donations received and amounts applied for scientific research and a copy of such statement duly certified by the auditor shall accompany the report of audit referred to above.

Notification No. 44/2007-Service Tax dated 19 December,2007

December 19, 2007 351 Views 0 comment Print

[TO BE PUBLISHED IN THE GAZETTE OF INDIA,EXTRAORDINARY PART‑II,SECTION-3, SUB -SECTION(i)] GOVT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF EXCISE & CUSTOMS) Notification No. 44/2007-Service Tax New-Delhi,the 19 December,2007 G.S.R. (E)- In exercise of the powers conferred by sub-section (1A) of section 86 of Finance Act, 1994 (32 of 1994), the […]

Transparency in Co-operative Society & Bank Audits in Maharashtra

December 19, 2007 4779 Views 0 comment Print

Tarun Ghia Vs. The State of Maharashtra and others The Petitioner is a Chartered Accountant in practice and claims to be qualified to undertake the audit of societies as contemplated under Section 81 (1)(a) and 81(1)(b) of the Maharashtra Co-operative Societies Act, 1960. He was on the panel of auditors maintained by the Divisional Joint Registrar, Cooperative Societies – Respondent No.3. According to the Petitioner the powers of empanelment, removal and other matters relating to functioning of the Chartered Accounts in contemplation to those provision was arbitrary and discretionary; and the Respondents were acting in a very unfair manner. On these 2 premises the Petitioner prayed for an issuance of an appropriate writ, order or direction directing Respondent No.3 to produce the entire records in connection with the list of societies with basic details like turnover, working capital, audit fees of the previous year and the Respondents be directed to prepare proper guidelines introducing transparency and fairness in empanelment of the auditors for awarding of auditing work in the co-operative societies. The Petitioner has further prayed that Respondent No.3 should publish the list and the consideration for empanelment should be objective and not supported by extraneous criteria.

Optional compounded levy scheme on pan masala

December 19, 2007 1624 Views 0 comment Print

Except in accordance with such terms and conditions as the Central Government may by notification specify in this behalf, no rebate of excise duty shall be granted under rule 18 of the Central Excise Rules,2002, in respect of specified goods manufactured in the premises for which special procedure under this notification has been availed and exported out of India.

Notification No 41 /2007- Central Excise (N.T.); dated: 19.12.2001

December 19, 2007 466 Views 0 comment Print

In exen3lbC of the powers conferred by sub-section (1B) of section 35B of the Central Excise Act, 1944 (1 of 1944), the Central Board of Excise and Cusiorns hereby makes the fallowing further arnondrnent5 in the 110tifiCalitifi of the Government et India, Ministry di Finance, Department of Revenue.

AESIC Amnesty Scheme for Employers and Employees

December 19, 2007 1465 Views 0 comment Print

The ESIC’s new amnesty scheme allows defaulting employers and employees to withdraw cases for non-payment of dues, effective from January 1, 2008.

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