"December, 2008" Archive - Page 7

Application for Empanelment for Audit of Co-Operative Banks

Empanelment Form For Allotment Of Cooperative Bank Audit Panel Of Auditors For Audit Of Urban Cooperative Banks Having Deposit Exceeding Rs.25 Crores....

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Posted Under: CA, CS, CMA |

Notification No. 63 (RE-2008) dated 21.11.2008 and No. 64 (RE-2008) dated 24.11.2008-transitional arrangements thereunder

Policy Circular No. 49 (RE-2008)/2004-2009 (22/12/2008)

It is brought to the notice of all concerned that vide these Notifications transitional arrangement available under Para 1.5 of FTP have not been stopped. Thus, the transitional arrangements in respect of items whose import has been restricted vide the said Notifications shall continue. Similarly, where the shipment has been made prior to...

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Companies (Central Government’s) General Rules and Forms (Fifth Amendment) Rules, 2008 (Notification of revised Forms 1, 1A, 2 & 5)

Notification No. G.S.R. 868(E) (22/12/2008)

G.S.R. 868 (E). – In exercise of the powers conferred by sub-section (1) of section 642 read with section 610B of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following rules to amend the Companies (Central Government's) General Rules and Forms, 1956...

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Anti dumping duty on imports of vitrified and porcelain tiles

Notification No. 134/2008-Customs (22/12/2008)

If the designated authority recommends anti-dumping duty after completion of the said new shipper review, the importer shall be liable to pay the amount of such anti-dumping duty imposed on all imports into India of the subject goods from M/s Foshan Lihua Ceramics Co. Ltd., China PR (producer) and M/s Foshan Henry Trading Company, China P...

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Circular No. 880/18/2008-Central Excise, Dated: 22.12.2008

Circular No. 880/18/2008-Central Excise (22/12/2008)

The Notification SRO-91 dated 16.03.2006 issued by the Government of J & K states that every registered industrial unit claiming tax (VAT) remission shall make price adjustment in the selling price equivalent to the amount of tax chargeable on the finished goods sold, where after the tax shall be charged on the net selling price so that ...

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Compliance Of CPE Credit Hours For The Calendar Year 2008

Members holding Certificate of Practice (except those members who are residing abroad and senior members), unless exempted are required to (a) Complete at least 90 CPE credit hours in each rolling three year period starting from the calendar year 2008, of which 60 CPE credit hours should be of structured learning....

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Posted Under: CA, CS, CMA |

Vodafone International Holdings B.V. Versus Union of India (Bombay High Court)

Vodafone International Holdings B.V., Vs Union of India (Bombay High Court)

The very purpose of entering into agreements between the two foreigners is to acquire the controlling interest which one foreign company held in the Indian company, by other foreign company. This being the dominant purpose of the transaction, the transaction would certainly be subject to municipal laws of India, including the Indian Incom...

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MVAT E-Filing of Returns Made Applicable to All Dealers

Mandatory E-filing of Returns is applicable for Registered Dealers to whom the Explanation to clause (8) of Section 2 applies and whose tax liability during the previous year was rupees one crore or less, in respect of the period starting on or after 1st April, 2008....

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Posted Under: CA, CS, CMA |

Satyam's Buyback Plan is a Ploy to Take Away Funds

Ramalinga Raju’s problems just don’t seem to end. After the unprecedented furore over Satyam Computers’ aborted plan to buy into Maytas Infrastructure and Maytas Properties — controlled by the Raju family — for a whopping $1.6 billion, the UK-based Upaid Systems has alleged that Satyam’s buyback proposal is yet another ploy to...

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Posted Under: CA, CS, CMA |

Tax Sword Looms Large On Cross-Border Acquisitions

Since August last year, the world has been watching. It all began with a show cause notice issued to Vodafone BV (based in the Netherlands), holding it to be an “assessee in default” for not withholding tax at source when it made payments to a Hutchison Group company (based in Cayman Islands) for acquiring shares of another Cayman Isl...

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Posted Under: CA, CS, CMA |