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Archive: 2009

Posts in 2009

If ST 3 returns and CENVAT credit returns are filed, then department cannot ask for tax beyond 1 year

August 11, 2009 2354 Views 0 comment Print

T.K. Jayaraman, Technical Member. – This appeal has been filed against the Adjudication Order No. 15/2007 (VR), dated 17-5-2007 passed by the Commissioner of Central Excise & Customs, Visakhapatnam-II Commissionerate. 2. Shri MSV Prasad, the learned Advocate, appeared on behalf of the appellants and Ms. Sudha Koka, the learned SDR for the revenue.

Irritated by ICAI messages; get registered for DND

August 11, 2009 6292 Views 0 comment Print

Members who are irritated by SMS sent by ICAI and its council members using ICAI SMS portal can register for do not call registry maintained by ICAI. Once register you will not receive those annoying SMS anymore. You can register for this facility at the following mentioned website:- 

Download your ICAI firm Constitution Certificate Online

August 11, 2009 166236 Views 10 comments Print

ICAI has provided the facility to members to download there firm constitution certificate online so that member need not to visit ICAI office for getting a copy of the same. To view and print the same member will require to follow following steps:- 1. Have to go the following website:-

ICAI announced extension of PE-II Examination by two more attempts

August 11, 2009 654 Views 0 comment Print

BOS/Announcement/227/09, Dated: August 10, 2009 An Important Announcement for Students of Professional Education Examination- II – Extension of PE-II Examination by two more attempts i.e. November, 2009 and May, 2010 Students are hereby informed that the Council of the Institute of Chartered Accountants of India, having due regard to the concerns of students belonging to […]

Examination form for PCC, PCE and Final Examinations would be available from 17th August, 2009

August 11, 2009 459 Views 0 comment Print

The next Chartered Accountants Examinations of the Institute will be held from 5st to 19th November, 2009. The sale of Examination Application forms for IPCE, PCE and Final Examinations would commence from 17th August, 2009. The last date for sale and receipt of filled in application is 7th September, 2009 (without late fee) and 14th […]

ICAI prescribed new criteria for allocation of Statutory Auditors of Regional Rural Banks

August 11, 2009 2689 Views 0 comment Print

I    New firms to be empanelled from the list of audit firms whose Chartered Accountants should have Diploma in Information and System Accounting (DISA) qualification. II    Selection for new audit firms to be made only from category III and from category IV SP upto 20% of the total requirement in respect of vacancies.

Modification of Policy Circular No. 51 (RE-2008)/2004-2009 dated 06.01.2009

August 10, 2009 460 Views 0 comment Print

In this regard, it has been observed that discounts (offered to foreign buyers) do not form part of FOB value. Thus, FOB value on which the entitlement would be computed under Chapter 3 reward schemes would exclude ‘discounts’. Hence the phrase ‘the computation of entitlement is to be done on the FOB

ICAI taking members consent before Publishing E-mail address in the List of Voters for election 2009

August 8, 2009 370 Views 0 comment Print

Re: Election 2009 Inclusion of Internet/E-mail address in the List of Voters As you may be aware, the next Elections to the Council and Regional Councils are scheduled to be held in the month of December 2009. For the purpose, a List of Voters as on 01.04.2009 is under preparation. As per Rule 6 read with clause […]

SEBI decided to facilitate setting up of Separate stock exchange for Small and Medium Enterprises (SMEs)

August 8, 2009 816 Views 0 comment Print

Securities and Exchange Board of India (SEBI) which recognises and regulates Stock Exchanges, has decided to facilitate the setting up of separate stock exchanges or a platform in the existing stock exchanges dedicated to the Small and Medium Enterprises (SMEs). The objective is to make available equity capital at lower cost for small and medium […]

The Liaison Office (LO) of non-resident taxpayer would qualify as business connection PE in India if the activities of the LO not confined to purchase of goods in India for the purpose of export

August 8, 2009 1960 Views 0 comment Print

Columbia Sportswear Company Vs. DIT (International Taxation), Bangalore – (Advance Ruling Authority) – In addition to the activities relating to the purchase of goods, the Liaison Office was carrying out various activities such as ensuring the choice of quality material, occasional quality testing, conveying of requisite design, picking out competitive sellers, etc. Further, the Liaison Office facilitated the business of the applicant in Eygpt and Bangladesh. It will be unrealistic that all the activities other than the actual sale of the goods are not integral part of the business of the applicant and have no role in the profit being made by the applicant on the sale of its branded products.

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