The Council of the Institute in its meeting held on 25th Feb, 2011 has approved the release of Cost Accounting Standards 13. Cost Accounting Standards 13- Cost of Service Cost Centre
The Union Cabinet has approved Constitution Amendment Bill to pave the way for implementation of Goods and Services Tax, a new indirect tax regime that will subsume various levies such as excise and service tax.
Electricity Exchange services means any service provided or to be provided to any person, by an electricity exchange, by whatever name called, approved by the Central Electricity Regulatory Commission constituted under Section 76 of the Electricity Act, 2003 (36 of 2003), in relation to trading, processing, clearing or settlement of spot contracts, term ahead contracts, seasonal contracts, derivatives or any other electricity related contract.
Design services includes services provided in relation to designing of furniture, consumer products, industrial products, packages, logos, graphics, websites and corporate identity designing and production of three dimensional models.
Custom house agent’s services – means any service provided or to be provided [to any person], by a custom house agent in relation to the entry or departure of conveyances or the import or export of goods;
Credit rating agency’s services means any service provided or to be provided to any person, to a client, by a credit rating agency in relation to credit rating of any financial obligation, instrument or security;
“Credit Card, Debit Card, Charge Card or Other Payment Card Service” includes any service provided,— (i) by a banking company, financial institution including non-banking financial company or any other person (hereinafter referred to as the issuing bank), issuing such card to a card holder; (ii) by any person to an issuing bank in relation to such card business, including receipt and processing of application, transfer of embossing data to issuing bank’s personalisation agency, automated teller machine personal identification number generation, renewal or replacement of card, change of address, enhancement of credit limit, payment updation and statement generation; (iii) by any person, including an issuing bank and an acquiring bank, to any other person in relation to settlement of any amount transacted through such card.
Courier Services-Courier Agency means a any person engaged in the door-to-door transportation of time –sensitive documents, goods or articles utilising the services of a person, either directly or indirectly, to carry or accompany such documents, goods or articles.
Cost accountant’s services means any service provided or to be provided [to any person], by a practicing cost accountant in his professional capacity, in any manner; “Practicing Cost Accountant” means a person who is member of the Institute of Cost and Works Accountants of India and is holding a certificate of practice granted under the provisions of the Cost and works Accountants Act, 1959 (23 of 1959) and includes any concern engaged in rendering services in the field of cost accountancy;
Cosmetic or Plastic Surgery Service means any service provided or to be provided to any person, by any other person, in relation to cosmetic surgery or plastic surgery, but does not include any surgery undertaken to restore or reconstruct anatomy or functions of body affected due to congenital defects, developmental abnormalities, degenerative diseases, injury or trauma.
