Union Finance Minister Shri Pranab Mukherjee held a meeting with Financial Sector stakeholders to get their inputs for General Budget 2011-12, here today. This was the sixth meeting in the series of pre-Budget consultations held by Finance Minister w
The Central Bureau of Investigation has registered a case U/s 120-B of IPC r/w 419, 420, 467, 468, 471, 477-A of IPC and 120-B, 13(2) r/w 13(1)(d ) of Prevention of Corruption Act, 1988 against the Member Revenue Board (an IAS Officer), Govt of Chhat
The Central Bureau of Investigation has registered a case against Assistant Commissioner, Superintendent & Inspector of Central Excise, Indore and other private person U/s 120-B r/w 420 IPC and Section 13(2) r/w 13(1)(d) of P.C.Act, 1988. It was alle
We had a useful meeting with the officials of the Co-operation Department at Pune on 5th January, 2011 with regards to the co-operative audit in Maharashtra. We have been requested to formulate a programme in respect of processes and other matters fo
Following is the Exposure Draft of the Framework for the Preparation and Presentation of Financial Statements (Revised 20XX), issued by the Accounting Standards Board of the Institute of Chartered Accountants of India, for comments. The Board invites
It has been observed that there is no uniformity in the practice adopted by banks while accounting for investments in Government Securities i.e. they are accounted for either on “Trade Date” or the “Settlement Date”. Hence, with a view to bringing in uniformity, it has been decided that banks should follow “Settlement Date” accounting for recording both outright and ready forward purchase and sale transactions in Government Securities.
Members of CFMS are using the funds transfer module to transfer funds from one DAD to another DAD from their payment gateways. At present, the time window for funds transfer module of CFMS is from 11:00 hours to 16:30 hours on weekdays and from 11:00 hours to 13:00 hours on Saturdays.
Service Providers of services listed in Appendix 41 of HBPv1 would alone be eligible. Such eligible Service Providers will be entitled to Duty Credit Scrip equivalent to 10% of free foreign exchange earned during current financial year.
Para 3.6.1 of the HBPv1 titled ‘Ineligible Remittances and Services for SFIS Scheme’ gives the categories which are not eligible for this scheme. Para 3.6.1(g) of the HBPv1 (Updated as on 23.8.2010) relating to Telecom Sector is deleted. The word ‘Airlines,’ appearing in the Para 3.6.1(h) of the HBPv1 (Updated as on 23.8.2010) is also deleted.
Circular No. 06/2011-Customs The undersigned is directed to invite your attention to Circular No.58/2004-Cus. dt.21.10.2004 on the above subject as amended by Circular Nos.17/2009-Cus. dt.25.5.2009 and 32/2009-Cus. dt.25.11.2009 and to state that references have been received with reference to para 3.2(c) of the Circular No. 58/2004-Cus. dt.21.10.2004. Para 3.2(c ) of the said Circular, interalia, stipulates that exemption from Bank Guarantee contemplated therein will not be available in case the licence holder has been penalized under the provisions of Customs Act,1962, the Central Excise Act,1944, the Foreign Exchange Management Act (FEMA),1999 or the Foreign Trade (Development and Regulation) Act,1992 during the previous three Financial years.
