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Archive: 2011

Posts in 2011

Draft Code of Conduct for Chartered Accountancy Students

November 9, 2011 7196 Views 0 comment Print

In order to govern the conduct of Chartered Accountancy Students during the period of practical training and also that of the students pursuing Professional Competence Course (PCC) / Integrated Professional Competence Course (IPCC), prior to registration for practical training as well as of the students who have completed practical training but not yet passed Final examinations, it has been decided to prescribe a code of conduct for such students.

Gearing up for the Competitive Impulse in the Indian Banking in its defining decade

November 9, 2011 6425 Views 0 comment Print

Why is the next decade likely to be a defining decade? In my view, in the coming years, the Indian banking can unshackle several constraints that it faces today bringing about a transformation into an era of globally competitive banking. The biggest of the constraint has been the legacy of staffing that the public sector banks face. Indian banks employ about 1 million people, three-fourths of which are in public sector banks.

Export Grows 10.8% in October at US $ 19.9 Billion: Commerce Secretary

November 9, 2011 5934 Views 0 comment Print

India’s exports have registered a growth of 10.8% during October 2011, at US $ 19.9 billion. Imports in October 2011 stood at 39.5 Billion US$ registering a growth of 21.7%. Balance of Trade for the period was (-) 19.6 Billion US$. Cumulative Export figures for the period of April to October 2011 stood at 179.8 Billion US$ registering a growth of 46%. Imports for the same period stood at 273.5 Billion US$ registering a growth of 31%. Balance of trade for the period stood at (-) 93.7 Billion US$.

UCBs – KYC Norms – While opening accounts based on Aadhaar also, banks must obtain current address proof

November 9, 2011 8537 Views 0 comment Print

RBI/2011-12/253 UBD. BPD. (PCB) No. 8/12.05.001/2011-12 November 9, 2011 The Chief Executive Officer All Primary (Urban) Co-operative Banks Dear Sir, Know Your Customer Norms – Letter issued by Unique Identification Authority of India (UIDAI) containing details of name, address and Aadhaar number Please refer to circular UBD. BPD. (PCB). No. 38 / 12.05.001/2010-11 dated March […]

Regarding Clearance of goods from Custom Bonded warehouses utilizing duty credit scrips of SFIS, VKGUY, FMS, FPS, SHIS

November 9, 2011 6048 Views 0 comment Print

I am directed to invite your kind attention to an issue which has been raised before the Board as to whether duty credit scrips issued under the Chapter 3 schemes of the Foreign Trade Policy (FTP) viz Served from India Scheme (SFIS), Vishesh Krishi Gram Udyog Yojana (VKGUY), Focus Market Scheme (FMS), Focus Product Scheme (FPS) and Status Holder Incentive Scheme (SHIS) can be utilized for clearance of goods from Custom Bonded warehouses.

Press release regarding Vigilance Awareness Week (31st October to 5th November, 2011) organized by CBEC

November 9, 2011 6669 Views 0 comment Print

As a part of the Vigilance Awareness Week being observed from 31st October to 5th November, 2011, the Central Board of Excise and Customs (CBEC) organized an interaction with officers and staff, at Rajendra Bhawan Auditorium, Deen Dayal Upadhyay Marg, New Delhi on 4.11.2011. This was presided over by Shri. S.K.Goel, Chairman, CBEC, who addressed the gathering and reiterated the importance of probity in public life.

ICWAI President Communiqué November, 2011

November 9, 2011 6574 Views 0 comment Print

Each era introduces new challenges to the humanity and society. Domain experts and Professionals with their skills and knowledge have become the champions of the key socio-economic transformations in today’s world. It is however important for them to clearly articulate the issues and present the solutions in a format understandable by the common man.

Gross direct tax collection during April-October of the current fiscal was up by 20.28 percent

November 9, 2011 7269 Views 0 comment Print

Gross direct tax collection during April-October of the current fiscal was up by 20.28 percent at Rs.284,081 crore as against Rs.236,176 crore in the same period last fiscal. While gross collection of corporate taxes was up 20.35 percent (Rs. 189,872 crore against Rs. 157,767 crore last year), gross collection of personal income tax was up by 20.17 percent (Rs.93,769 crore against Rs.78,029 crore last year). Net direct tax collections stood at Rs.2 18,850 crore, up from Rs.204,347 crore in the same period last fiscal, registering a growth of 7.10 percent.

Accomodation services provided to staff in remote area are input services

November 8, 2011 1868 Views 0 comment Print

The Commissioner’s Order-in-Appeal dated 27.05.2008 reflects that he accepted that the efficiency of the employees of an organization would be dependent on various factors, one such being the provision of a housing colony. He further conceded that these facilities would contribute to the enhancement of the productivity of the organization. Having stated so, the appellate authority surprisingly took the view that maintenance of the residential colony by the respondent Company was only an obligatory activity owing to situational exigencies and was not connected either directly or indirectly to the manufacture of its final products.

Netherlands Delegation Calls on Shri R.P.N. Singh; Issues of Bilateral Interest Discussed during the Meeting

November 8, 2011 6231 Views 0 comment Print

Dr.Henk Bleker, Minister for Agriculture and Foreign Trade, Kingdom of Netherlands along with his delegation, had a meeting with Shri R.P.N.Singh, Minister of State for Corporate Affairs here in New Delhi today. Mr.Bob Hiensch, Ambassador of the Kingdom of the Netherlands to India, and Shri Naved Masood, Secretary, Ministry of Corporate Affairs were present, along with others.

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