"22 May 2009" Archive

Empanelment of CA with Serious Fraud Investigation Office

No.2/2/2007Admn.  dated the 5 th May 2009  SFIO, Government of India, Ministry of Corporate Affairs, Serious Fraud Investigation Office, B3 Wing, 2 nd Floor, Paryavaran Bhavan, CGO Complex, Lodi Road, New Delhi – 110 003, New Delhi,  SFIO, a multidisciplinary organization set up to investigate corporate frauds, intends to outsour...

Read More
Posted Under: CA, CS, CMA |

Notification No. 6/2009 – Central Excise; Dated: 22.05.2009

Notification No. 06/2009-Central Excise (22/05/2009)

The principal notification No.64/95-Central Excise, dated the 16th March, 1995 was published in the Gazette of India, Extraordinary, vide number G.S.R. 256(E), dated the 16th March, 1995 and was last amended vide notification No.15/2008-CE dated the 17th March, 2008 which was published vide number G.S.R. 184(E), dated the 17th March, 200...

Read More

SEBI to pay auditors fees for the first year of peer review

The Securities and Exchange Board of India (Sebi) will pay auditors fees for the first year of peer review of accounts of companies in the 50-index Nifty and the 30-index BSE. In an effort to build investor confidence and avoid reoccurrence of Satyam-like frauds, Sebi had announced a peer review of company accounts. “Sebi will […...

Read More
Posted Under: CA, CS, CMA |

RBI empowered practicing CS to issue Diligence Reports to scheduled commercial banks

The Reserve Bank of India has empowered practicing company secretaries to issue Diligence Reports to scheduled commercial banks which will confirm the mandatory compliance with all statutory and contractual obligations by companies availing multiple banking or consortium lending arrangements. Primary Urban Co-operative Banks have also com...

Read More
Posted Under: CA, CS, CMA |

SEBI considering relaxation in IPO, QIP, rights issue norms

Raising funds from the bourses may soon become a simpler, shorter process, as the market regulator plans an overhaul of existing norms, taking them closer to standard global practices. According to an official close to the development, the Securities & Exchange Board of India (Sebi) will rework the norms for instruments such as quali...

Read More
Posted Under: CA, CS, CMA | ,

No cut in CST rate this Year, will stay at 2%

At present, the tax, which is levied on inter state sale of goods, is at 2%. It was scheduled to be reduced by another 1%, starting April 1, 2009. At the time, the rate cut was postponed on account of the general elections and the Election Commission’s code of conduct. Recently, the empowered committee of state finance ministers wrote t...

Read More
Posted Under: CA, CS, CMA |

Commerce department asked for removal of fringe benefit tax on exporters

Commerce department has asked for the removal of fringe benefit tax (FBT) on exporters in its list of key reform proposals to be included in an ambitious package being readied by officials for the new government’s 100-day reform agenda. It has asked for removal of this tax imposed on exporters as it acts as a […]...

Read More
Posted Under: CA, CS, CMA |

Govt. May Exempt SEZ export profits under section 10AA

The three-year long wait of companies to avail full income tax benefits on export profits from their SEZ units will come to an end in two months. Official sources said the government has firmed up plans to bring changes in Section 10AA of the Income Tax Act in the forthcoming Union Budget to rectify an anomaly in the wording of the Sectio...

Read More
Posted Under: CA, CS, CMA |

Amends Notification No .39/1996-Customs, dated 23rd July, 1996

Notification No. 54/2009-Customs (22/05/2009)

The principal notification No .39/1996-Customs, dated 23rd July, 1996 was published in the Gazette of India, Extraordinary, Part II, Section3, Sub-section (ii) vide number G.S.R. 291(E) dated the 23rd July, 1996 and was last amended by notification No.124/2008- Customs, dated the 21st November, 2008 published in the Gazette of India, E...

Read More

Rescinds Notification No. 38/2007-Customs, dated, 9th March, 2007

Notification No. 53/2009 - Customs (22/05/2009)

In exercise of the powers conferred by sub-section (1) and sub-section (5) of section 9A of the Customs Tariff Act, 1975 (51 of 1975), read with rules 18, 20 and 22 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995, the Central Government h...

Read More