In response to the 2011 update of the UN Model Convention which was launched on 15.3.2012, the CBDT has addressed a letter dated 12th March 2012 in which it has registered its objections to the provisions in the UN Model Convention. In particular, the CBDT has stated:
The last date for receipt of application for Empanelment for Observers for Chartered Accountants Main Examinations scheduled to be held from 2nd to 17th May, 2012 and CPT on 17th June, 2012 has been extended upto 11th April, 2012 (Wednesday).
To ensure greater flexibility in sending remittances, it has now also been decided to allow Authorised Dealers Category-II to open Nostro accounts subject to following terms and conditions: i) Only one Nostro account for each currency may be opened; ii) Balances in the account should be utilized only for the settlement of remittances sent for permissible purposes and not for the settlement in respect of forex prepaid cards; iii) No idle balance shall be maintained in the said account; and iv) They will be subject to reporting requirements as prescribed from time to time.
Honorable Finance Minister, Sh. Pranab Mukherjee will inaugurate the Direct Taxes Regional Training Institute complex, Bangalore on 8th April 2012.
All students appearing in June, 2012 session of CS examinations are hereby informed that detailed particulars of their examination form ( including their photograph and signature) have been uploaded on institute’s website www.icsi.edu. All students are advised to check and verify the enrollment details carefully and if any discrepancy is found, the same may be communicated to Directorate of Student Services, Noida immediately for necessary corrections. No requests for change will be entertained after 17th May, 2012.
Notification No.31/2012-Customs (N.T.) Central Government, being satisfied that it is necessary so to do for the purpose of the protection of human, animal, plant life and health, hereby prohibits import into India and export out of India of hazardous wastes specified in Scheduled VI to the Hazardous Waste (Management, Handling and Transboundary Movement) Rules, 2008, issued under the Environment (Protection) Act, 1986 (29 of 1986), save as otherwise provided under the said Act and the rules made thereunder,
Notification No.20/2012-Customs (ADD) in the matter of continuation of anti-dumping duty on imports of ‘Peroxosulphates’ also known as ‘Persulphates’, originating in, or exported from, China PR and Japan imposed vide notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 96/2007-Customs, dated the 29th August, 2007, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 567(E), dated the 29th August, 2007, and had requested for extension of anti-dumping duty upto one more year, in terms of sub-section (5) of Section 9A of the said Customs Tariff Act;
Notification No.19/2012 – Customs (ADD) Whereas, in the matter of import of Phosphoric Acid of all grades and all concentrations (excluding Agriculture/Fertilizer Grade) (hereinafter referred to as the subject goods), falling under tariff item 28092010 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the said Customs Tariff Act), originating in, or exported from, Israel and Taiwan (hereinafter referred to as the subject countries) and imported into India, the designated authority, vide its preliminary findings No. 14/44/2010-DGAD, dated the 25th October, 2011, published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 25th October, 2011, had come to the conclusion that-
Notification No.18/2012-Customs (ADD) In exercise of the powers conferred by sub-sections (2) of section 9A of the Customs Tariff Act, 1975 (51 of 1975), read with rules 13 and 20 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995, the Central Government hereby rescinds the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 04/2012-Customs (ADD), dated the 13th January, 2012
With the new reporting format, the taxonomy also needed to undergo a change. Accordingly, the new taxonomy, based on the Revised Schedule VI requirements, for the Commercial & Industrial (C&I) companies has been developed by ICAI. The new taxonomy is a general purpose taxonomy capable of being used for filing annual financial statements for any Commercial & Industrial companies.
