"15 April 2008" Archive

Notification No. 5 (RE-2008)/2004-2009, Dated: 15.04.2008

Notification No. 5 (RE-2008)/2004-2009 (15/04/2008)

In exercise of the powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) read with Para 1.3 and Para 2.1 of the Foreign Trade Policy, 2004-2009, the Central Government hereby makes, with immediate effect, following amendments to the Notification No. 4 (RE-2008)/2004-2009....

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ICAI to launch shorter version of CA course

The Institute of Chartered Accountants of India (ICAI) said on Thursday it will launch a course of accounting technicians from April 22 for undergraduate students. "We are launching this course considering that there is a need for second tier of accountants, with so many accounting jobs coming up in the country," ICAI president Ved Jain t...

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Posted Under: DGFT |

Reduced rate of CST would be effective from 1-5-2008

Following an agreement between the Central Government and the State Governments, the rate of Central Sales Tax was reduced from 4 per cent to 3 per cent in this financial year. It is now proposed to reduce the rate to 2 per cent from April 1, 2008. Consultations are underway on the compensation for losses, if any, and once agreement is re...

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Posted Under: DGFT |

Highlights of Foreign Trade Policy, 2008

(15/04/2008)

DEPB Scheme Extended Till May 2009. Income Tax Benefit To 100% EOUs Under Section 10-B Of It Act Being Extended For One Year Beyond 31stmarch 2009. New Export Promotion Council For Telecom Sector . 5% Additional Duty Credit For Export Of Toys And Sports Goods...

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Posted Under: DGFT |

Compliance Calendar under Various Statutory Laws in India

Compliance Calendar under Direct Tax Laws. Compliance Calendar under Indirect/Corporate & Labour Laws. Payment of monthly dues of Provident Fund. Monthly return in Form 5 for employees joining Provident Fund during previous month along with declaration in Form 2 furnished by the employees. Monthly return of PF in Form 10 of employees lea...

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Posted Under: DGFT |

ICAI Gives Firms Leeway In Reporting Derivative Losses

No need to report if transaction is not speculative. Companies may get to avoid reporting losses on derivative contracts provided they can prove that the transaction was a hedge and not speculative in nature. A recent clarification by the Institute of Chartered Accountants of India (ICAI) regarding disclosure norms for derivative contract...

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Posted Under: DGFT |