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Archive: 18 March 2009

Posts in 18 March 2009

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7344 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Guidelines for issuance of Freely Transferable ‘Supplementary’ Duty Credit Scrip under Chapter 3 Schemes

March 18, 2009 319 Views 0 comment Print

In some cases, entitlement as due, may not be claimed fully by the exporter due to software not being updated, or the entitlement as claimed by the exporter might have been reduced by RA (or sometimes by Customs, although Customs should refer back the matter to RA concerned rather than reducing the entitlement themselves) for some reason, but in appeal or by clarification from Policy division of Headquarters, the original claim has been either restored or enhanced from the value that was granted by RA; in such cases, a supplementary scrip will be issued manually by RA concerned.

SBI get installed anti-money laundering software

March 18, 2009 307 Views 0 comment Print

The solution will enable the bank to monitor any suspicious transfer of money, including terror financing State Bank of India (SBI) has announced that it has deployed a solution to prevent money laundering across its group companies and six associate banks. The solution has been deployed by 3i Infotech in compliance with the orders of […]

PWC named two more Auditors in Satyam Scam

March 18, 2009 351 Views 0 comment Print

Price Waterhouse (PW), the audit arm of international professional services firm PricewaterhouseCoopers (PwC), has named two more of its accounting professionals as answerable to the Rs 7,000 crore corporate fraud at Satyam Computer Services, to which its promoter Ramalinga Raju confessed on January 7. The audit firm has named P Shiva Prasad and C H […]

Supplementary List of Chartered Accountants Eligible for Empanelment for 2009-12 for Audit of Co-Operative Banks

March 18, 2009 318 Views 0 comment Print

Co-Operative department Pune has released the Supplementary List of C.A. Firms/Chartered Accountants  eligible for Audit ofUrban Co-Operative Banks in the state of Maharashtra. List can be downloaded by clicking on link given below:- Copy and paste the link below in Your Browser  to download list Of Charterd Accountants eligible for empanelment for 2009-12 http://wirc-icai.org/docs/ca170309.xls All […]

PWC get 3rd extension for reply from ICAI in Satyam case

March 18, 2009 354 Views 0 comment Print

Accounting regulator ICAI for the third time today extended the deadline given to four members of Price Waterhouse-Bangalore to respond to the show-cause notices issued in connection with the Rs 7,800-crore Satyam fraud case. The four Price Waterhouse CAs– P Shiva Prasad, C H Ravindranath, Srinivas Talluri and S Gopalakrishnan — have been given time […]

ICAI opposes RBI move to relax the provisioning norms for NPA

March 18, 2009 420 Views 0 comment Print

The Institute of Chartered Accountants of India, which frames accounting standards for the country, has opposed a proposal of the Reserve Bank of India to relax the provisioning norms for non-performing assets. According to the proposal, commercial banks need not classify a non-serviced loan under NPAs if the borrower has submitted an application for restructuring […]

Important Announcement Bank Branch Auditors 2008-09: ICAI

March 18, 2009 339 Views 0 comment Print

Your attention is drawn to the new Procedure for appointment of Branch Statutory Auditors in Public Sector Banks for the year 2008-09 already hosted on the website. It is an open invitation to all those Chartered Accountants/ CA firms which have been conducting audits as bank branch auditors since 2004-05 onwards continuously. In case they […]

PSB need to take CBI’s clearance before allowing one-time settlement of bad loans

March 18, 2009 453 Views 0 comment Print

All public sector banks may need to take CBI’s clearance before allowing one-time settlement of bad loans by customers under a new direction likely to be issued by the Reserve Bank of India(RBI) soon. The circular, the proposal for which was mooted by CBI (Central Bureau of Investigation) will ask all the banks to seek […]

Companies which commit criminal offence, cannot be sent to jail

March 18, 2009 1147 Views 0 comment Print

Companies which commit criminal offence can be prosecuted and sentenced to fine, though they cannot be sent to jail as they are only juristic persons. This principle was reiterated by the Supreme Court in the case, Ballarpur Industries Ltd Vs State of Tamil Nadu.

Summary of Amendments In Foreign Trade Policy 2004-09

March 18, 2009 1383 Views 0 comment Print

Export obligation period: As per para 4.22 export obligation shall be fulfilled within 24 month from date of authorisation. In view of ongoing recession the period to fulfill export obligation has been changed to 36 months. It is not clear from the policy whether extension of Export Obligation Period of 36 months is permissible for the existing licenses or is permissible for the licenses which will be issued in future. One will have to wait for clarification in this respect.

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