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Archive: May, 2011

Posts in May, 2011

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

May 15, 2024 6435 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.

Centre Seeks Views of State Governments and Political Parties on Lokpal

May 31, 2011 519 Views 0 comment Print

Centre has sought the views of State Governments and Political Parties on certain issues related to drafting of Lokpal Bill. The text of the letter written by the Chairman of the Drafting Committee, Shri Pranab Mukherjee is as follows: The issue of setting up of a Lokpal to curb corruption in high places has been under the consideration of the Government of India for some time. In this context, the Legislative Department had prepared a draft Lokpal Bill in 2010, a copy of which is annexed. Simultaneously, some members from civil society have been advocating setting up of a Lokpal and a draft bill prepared by them is also annexed.

Chidambaram advocates more taxes on luxury items, inheritance levy

May 31, 2011 1313 Views 0 comment Print

Concerned over low tax-GDP ratio, Home Minister P Chidambaram has pitched for higher taxes on luxury products and imposing inheritance tax. Chidambaram, who is a former finance minister, had expressed these views at the full Planning Commission meeting headed by Prime Minister Manmohan Singh last month.

ICAI – President's Message – June 2011

May 31, 2011 835 Views 0 comment Print

Let the faith of people of the world be restored in democracy for good, where the supreme power lies with the citizens who themselves elect people to represent them; democracy needs to be celebrated and kept alive by all possible means. Father of our Nation Mahatma Gandhi agrees to its value and suggests that actions inspired by tolerance, nonviolence and love could lay stronger foundations of democracy, and a change of heart can possibly be a better device to change the spirit of democracy, if required and desired. Violence is never a weapon of strong and brave people; it can only represent our moral and intellectual bankruptcy, Mahatma opines. The spirit of democracy has to come from within.

HC asks CCI to provide complete order to NSE by Friday

May 31, 2011 318 Views 0 comment Print

The Delhi High Court today asked Competition Commission to provide the NSE by friday its complete order including views of members dissenting with the majority ruling that held the bourse guilty of abusing market dominance.

Filling up of the vacancies of Indirect Tax Ombudsman – CIRCULAR [F. NO. A. 35017/35/2011-AD.II], DATED 30-05-2011

May 31, 2011 582 Views 0 comment Print

CIRCULAR [F. NO. A. 35017/35/2011-AD.II], DATED 30-5-2011 – I am directed to state that seven (7) posts of Indirect Tax Ombudsman at 7 stations, viz., New Delhi, Mumbai, Chennai, Kolkata, Bengaluru, Ahmedabad and Lucknow (in the HAG + pay scale of Rs. 75,500-80,000 per month) have been created vide Sanction Order No. 92/2011, dated 5-5-2011 issued from File No. A-11011/1/2006-Ad.I of this Department.

Circular on selection for the posts of Indirect Tax Ombudsman – CIRCULAR [D.O. F.NO.A-12026/5/2011-AD.I], DATED 25-05-2011

May 31, 2011 633 Views 0 comment Print

CIRCULAR [D.O. F.NO.A-12026/5/2011-AD.I], DATED 25-5-2011 You are aware that the Government of India has created 7 posts of Indirect Tax Ombudsman at 7 stations, viz., New Delhi, Mumbai, Chennai, Kolkata, Bengaluru, Ahmedabad and Lucknow under the Indirect Tax Ombudsman Guidelines, 2011. Selection for the posts of Indirect Tax Ombudsman in these locations is to be made.

Indirect Tax Ombudsman Guidelines, 2011

May 31, 2011 480 Views 0 comment Print

The Guidelines are introduced with the objective of enabling the resolution of complaints relating to public grievances against the Customs, Central Excise and Service Tax Department and to facilitate the satisfaction or settlement of such complaints.

DTAA with Mozambique

May 31, 2011 1971 Views 0 comment Print

Notification No. 30/2011 – Income Tax FT&TR-II [F.NO.501/152/2000-FT&TR-II], dated 31-5-2011 – Whereas the annexed Agreement between the Government of the Republic of India and the Government of the Republic of Mozambique for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income signed in India on the 30th day of September, 2010 shall come into force on the 28th day of February, 2011, being the date of the later of the notifications after completion of the procedures as required by the respective laws for the entry into force of this Agreement, in accordance with Article 30 of the said Agreement.

RBI – Findings of Forensic Scrutiny – Guidelines for prevention of frauds

May 31, 2011 2224 Views 0 comment Print

DBS. CO.FrMC.BC.No. 10/23.04.001/2010-11 – Based on the findings of the scrutinies, further study has been made across banks to ascertain the policy and operating framework in place for detection, reporting and monitoring of frauds as also the surveillance/ oversight process in operation so as to prevent the perpetration of frauds. The study has shown that while the banks do have certain policies and processes in this regard, they are not well structured and systematic to ensure proper focus on typical fraud events.

Revision in the powers of adjudication of the officers of Customs – Circular No.24/2011-Customs – Dated 31st May, 2011

May 31, 2011 3038 Views 0 comment Print

Circular No.24/2011-Customs References have been received from the field formations for specifying the ‘proper officer’ for issuance of show cause Notice and adjudication of cases of export under the drawback and Export Promotion Schemes. Further, as per Board’s Circular No.23/2009-Customs dated 1.09.2009, whereas the monetary limits of adjudication are prescribed in terms of duty involved, in respect of notices involving extended period of limitation, the monetary limit is specified based on the value of goods involved. This when worked out in accordance with the duty rates prescribed gives rise to an anomalous situation.

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