"13 January 2010" Archive

Government announced series of new incentives for exporters

Shri Anand Sharma, Union Minister of Commerce and Industry, while addressing the media here today, has announced a series of new incentives for exporters. These are as follows: 1. New Products under Focus Product Scheme (FPS): 1.1 112 new products added under FPS at 8 digit level, eligible for benefits @ 2% of FOB value of exports to all...

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Posted Under: DGFT |

Government committed to converge to IFRS by April, 2011

The core group for convergence of Indian Accounting Standards with International Financial Reporting Standards accepts the Report of Sub-Group 1. Ministry of corporate affairs reiterates commitment to carry out the convergence of Indian accounting standards by April, 2011....

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Posted Under: DGFT |

Amendment in HBP-V1-Additional items-markets for incentives under chapter-3 schemes Table-6

Publi Notice No. 33/2009-14 (13/01/2010)

In exercise of the powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2009-14, the Director General of Foreign Trade hereby makes the following amendments in HBPv1, for benefits on exports made on or after 1.1.2010:...

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Insertion of Para 6.31 in HBP v 1 2009-14

Public Notice No. 32/2009-14 (13/01/2010)

Insertion of Para 6.31 in HBP v 1 2009-14. In exercise of powers conferred under Para 2.4 of the Foreign Trade Policy, 2009-14, the Director General of Foreign Trade hereby makes the following amendments in the Handbook of Procedures (Vol. 1), 2009-14...

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Custom duty circular amending Notification No.21/2002-Customs, dated the 1st March, 2002 – Effective Rate of Duty

Notification No. 03/2010-Customs (13/01/2010)

G.S.R. (E).- -In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance...

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Retail Issue of Subordinated Debt for Raising Tier II Capital

RBI/2009-10/287 DBOD.BP.BC.No. 69 / 21.01.002/ 2009-10 (13/01/2010)

Some banks have indicated that they would like to issue subordinated debt to retail investors. With a view to enhancing investor education relating to risk characteristics of regulatory capital instruments, banks issuing subordinated debt to retail investors are advised to adhere to the following conditions:...

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Purchase of Immovable Property in India by Persons of Indian Origin (PIOs) – Amendment of the definition

RBI/2009-10/ 286 A.P. (DIR Series) Circular No.25 (13/01/2010)

Attention of Authorised Dealer Category-I banks is invited to clause (c) of Regulation 2 of Notification No. FEMA 21/2000-RB dated May 3, 2000 viz. Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India), Regulations, 2000, as amended from time to time, in terms of which 'a Person of Indian Origin' means an i...

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No clear mandate in CA elections of Ahmedabad branch of ICAI

None of the two panels that contested in the election of Ahmedabad branch of Institute of Chartered Accountants of India (ICAI) received clear mandate. Both vibrant-8 panel, representing small and medium CA practitioners, and care panel, representing Ernst & Young, PricewaterhouseCoop ers, Delloitte and KPMG, managed to win four seats eac...

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Posted Under: DGFT | ,

ICAI launched facility to post your Grievance online

ICAI - e-Samadhaan (The ICAI Helping Hand), Grievance Resolution Management System, For more details click on below:- http://www.icai. org/help/...

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Posted Under: DGFT |

Suspension of Accounting Standards 11 under Bombay high courts scanner

The Union governments move to suspend Accounting Standards 11, allowing companies to show foreign currency liabilities as assets, has come under the Bombay high courts scanner. The petition filed by an organisation of city-based legal experts, Just Society, has claimed that this permits firms that might otherwise be sick to paint a rosy p...

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Posted Under: DGFT |