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Archive: 04 January 2011

Posts in 04 January 2011

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

May 15, 2024 7167 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.

Soon PF account Number will be Replaced by UID

January 4, 2011 447 Views 0 comment Print

The retirement fund manager EPFO plans to replace PF account number with unique identification number, a move which will help in speedy transfer of subscribers’ funds in case of job change and allow them to track their accounts online. At present whe

300 Companies to adopt IFRS from 1st April 2011

January 4, 2011 204 Views 0 comment Print

The government will stick to its April 1 deadline for 300 large companies to align their accounts with global financial reporting norms, despite concerns raised by an industry lobby. India will have to honour the commitment made at the G20 summit,

RBI launches Quarterly Industrial Outlook Survey for January-March 2011

January 4, 2011 297 Views 0 comment Print

The Reserve Bank of India has launched the 53rd round of the Industrial Outlook Survey (IOS) for reference period January –March 2011. The Reserve Bank is conducting the Industrial Outlook Survey on a quarterly basis since 1998. The survey gives an i

“On-line” submission of application-Clarification regarding use of manual mode for filing application on DGFT’s server

January 4, 2011 334 Views 0 comment Print

In such cases, the exporters shall use the manual Shipping Bill filing option on the DGFT’s server to file their application for Export Promotion Schemes (Chapter 3,4 and 5 for the FTP). Moreover, necessary documents in original including Shipping Bills will need to be submitted to jurisdictional Regional Authority of DGFT by the exporter. However, EDI Shipping Bills which are not transmitted properly will need to be EDI cleared and transmitted to DGFT’s Server for grant of benefits. EDI Shipping Bill will not be accepted through manual option mode.

Second surveyor can not be appointed by Insurance Companies

January 4, 2011 4366 Views 0 comment Print

Upholding a district forum order, the Maharashtra State Consumer Disputes Redressal Commission recently dismissed an appeal filed by an insurance firm. The commission ruled against the Oriental Insurance Company after it appointed a second surveyor t

ICAI opposes tendering to select auditors for Govt schemes

January 4, 2011 321 Views 0 comment Print

Accounting regulator ICAI is opposed to the tendering process of selecting accountants for auditing state-run schemes and has taken up the issue with the Planning Commission and the CAG. The ICAI wants the appointment to be done through fixing the

Provisional release of export – goods detained for investigation- Circular No. 01/2011-Customs

January 4, 2011 4168 Views 0 comment Print

Attention is invited to the Board Circular No.33/2005-Customs dated 2.08.2005 which contains the instructions regarding provisional releas of goods entered for exportation and is seized on the ground of mis-declaration in terms of quantity and value

Classification of Polyester Bonded Fabrics and other Bonded Fabrics – Regarding- Circular No. 2 / 2011-Customs

January 4, 2011 2674 Views 0 comment Print

References have been received that divergent practices are being followed by field formations regarding classification of polyester bonded fabrics and that classification disputes of polyester bonded fabrics are pending at various fora. The issue was also discussed in

Bofors Scam-Now Income Tax Tribunal too exposes Kickback trail to Quattrocchi

January 4, 2011 489 Views 0 comment Print

Income Tax Appellate Tribunal (ITAT) has pointed out that despite the Indian government’s order against the appointment of middlemen in defence deals by foreign companies, Bofors had entered into a fresh consultancy agreement with AE Services Limited of UK on November 15, 1985, at the behest of Ottavio Quattrocchi, whom the CBI in its chargesheet had described as having unhindered access to 7, Race Course Road (the residence of Rajiv Gandhi, the then Prime Minister).

Hero group official arrested in Citibank fraud case

January 4, 2011 607 Views 0 comment Print

: A senior executive of the Hero Group was arrested by Gurgaon police on Monday as the investigative net on the Rs. 300 crore fraud at the local branch of Citibank was cast wider. The arrest of Sanjay Gupta, associate vice-president of Hero Corporate

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