The government expects that the Parliamentary standing committee report on the Direct Tax Code (DTC) will be presented during the ongoing winter session to enable implementing tax reforms by April next, a senior Finance Ministry official said today.
I am very happy to be here today among some of the eminent opinion makers and leaders of our times who have come together to share their thinking at the Hindustan Times Leadership Summit 2011. I am also happy to see this annual event growing in stature. You have been successful in identifying issues of contemporary relevance and, more importantly, getting an interesting and a diverse panel of speakers for the Summit. I compliment you for that.
In pursuance of the recommendations of the Committee on Public Procurement headed by Shri Vinod Dhall and the decisions thereon of the Group of Ministers constituted to consider measures to tackle corruption and ensure transparency, the Department of Expenditure, Ministry of Finance has on 30th November 2011, issued instructions for setting up a Central Public Procurement Portal and making it mandatory for all Ministries/ Departments of the Central Government, Central Public Sector Enterprises (CPSEs) and autonomous and statutory bodies to publish all their tender enquiries on this portal.
The Institute of Cost and Works Accountants of India (ICWAI) has signed a memorandum of understanding with the Chartered Institute for Securities and Investment (CISI), UK on awarding the membership of CISI to ICWAI members and concessional fee for ICWAI students. The MOU was signed by M. Gopalakrishnan, President, and by Simon Culhane, Chief Executive, CISI in presence of Rakesh Singh, Vice President, ICWAI and other senior council members and officials of ICWAI yesterday in Mumbai.
In exercise of the powers conferred by clause (d) of sub-section (2) of section 63 read with sub-section (1) of section 14 of the Competition Act, 2002 (12 of 2003), the Central Government hereby makes the following rules further to amend the Competition Commission of India (Salary, Allowances and other Terms and Conditions of Service of Chairperson and other Members) Rules, 2003, namely :—
The Institute has decided to introduce New Type of Main Answer Books with Optical Mark Reader (OMR) base cover page for use of examinees in CS examination effective from December, 2011 examination onwards. Detailed Instructions with regard to use of Optical Mark Reader (OMR) based Answer Books are given in the “Instructions to Examinees” appended with the Admission Certificates. However, attention of the candidates are especially invited to the following ‘Important Instructions’ for advance information and necessary compliance :
As you are aware, SEBI simplified the account opening process for investors vide Circular No. CIR/MIRAD/16/2011 dated August 22, 2011. Further, SEBI vide circular MIRSD/SE/Cir-21/201 1 dated October 05, 2011 issued guidelines for uniform KYC requirements for investors while opening accounts with any intermediary in the securities market.
In exercise of the powers conferred by sub-section (5) of section 10 of the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005), the Commissioner of Sales Tax Maharashtra State, Mumbai, hereby amends the Notification No. Sr. DC(A & R)/PWR/1006/2/Adm-3, dated 6th October 2007, as follows, namely :‑
The circular no.Coord. / 4 (6) 2003/ clarification / Vol. -II/ 7394 dated 23.05.2011 regarding splitting of minimum wages for the purpose of PF contribution is kept in abeyance in view of the verdict of Hon’ble High Court of Punjab and Haryana in the matter of LPA No. 1139 of 2011(O&M) Assistant Provident Fund Commissioner Vs M/s G4S Security Services(India) Ltd. & Another till out come of the SLP (C) No. 20085/ 2011 filed by EPFO against the above decision of High Court of Punjab & Haryana.
Circular No. 53/2011-Cus, References have been received regarding divergent practices being followed by field formations regarding classification of Chlorinated Paraffins/Chloroparaffins. he matter has been examined by the Board. As regards classification of Chlorinated Paraffin Waxes (in solid form), the HSN Explanatory Note (B)(a) to Heading 27.12 of CTH clarifies that artificial waxes obtained by the chemical modification of lignite wax or other mineral waxes are classifiable under Heading 34.04. Also in the Budget, 2010, the specific sub heading 27122010 covering Chlorinated Paraffin Waxes has been deleted from the tariff. This item is therefore, classifiable under 340490 of Customs Tariff Act, 1975. Further, regarding classification of Chlorinated Paraffins / Chloroparaffins (in liquid form), the HSN Explanatory Notes (B) (9) under Heading 38.21 clarifies that Chloroparaffins in Liquid from are covered under the heading 3824.
