M/s. Coal India Limited invites expression of interest for appointment/empanelment of Cost Audit Firms for compliance of Companies (Cost Accounting Record) Rules 2011 for the year 2011-12 and cost audit for the year 2012-13 for its standalone segment.
With reference to Para 11 of IRDA circular IRDA/NL/CIR/Cre/205/12/2010 dated 13.12.2010, which mandates non-life insurance companies to submit regular reports to the Authority regarding the performance of Trade Credit Insurance portfolio. With a view to maintain consistency in reporting and better analysis of the credit insurance portfolio, the authority has devised certain forms for reporting under credit insurance, which are presented in the table below:
The Authority is in the process of implementing a module which would enable online submission of applications for enrolment/grant of fresh/ renewal license to Surveyors and Loss Assessors. In this connection all existing licensed Surveyors and Loss Assessors (Individual and Corporate) and Trainees enrolled with IRDA w.e.f April 2011 are required to provide the following information in the relevant form annexed to this circular, within 15 days:-
The Committee on Public Finance & Government Accounting, a non-standing committee of Institute of Chartered Accountants of India, has been constituted in the year of 2008 with the objective to review, analyze, recommend and suggest measures to the Local, State & Central Government, PSUs and other organisations in policy assessment, planning and execution in public finance, reforms in Government accounting system and maximizing public fund’s utility to augment and vitalize economic growth for end beneficiaries.
. On a review, it has been decided to revise the reporting timelines specified in para 3 of Circular dated January 17, 2011 which are as follows:- a. FIIs issuing ODIs/PNs shall submit details of ODI/PN transaction report (Annexure A, B and C) along with the monthly summary report by 10th of every month for previous month`s ODI transactions. The first such report shall be submitted for the month of October 2012 by November 10, 2012. b. The details of ODI/PN transaction report for month of December 2011 to April 2012 shall be submitted with six months lag.
Circular No. CIR/IMD/ FII&C/13/2012 On a review and in consultation with the Government of India (GoI) and RBI, it has been decided to revise the definition of QFI as under: QFI shall mean a person who fulfils the following criteria: (i) Resident in a country that is a member of Financial Action Task Force (FATF) or a member of a group which is a member of FATF; and (ii) Resident in a country that is a signatory to IOSCO’s MMOU (Appendix A Signatories) or a signatory of a bilateral MOU with SEBI:
All concerned may please note that the CS Foundation Programme Examination in “Elements of Business Laws and Management” paper, which was originally scheduled on 5th June, 2012 and postponed for administrative reasons beyond our control, will now be held on Saturday, the 16th June, 2012 (repeat 16th June, 2012) from 9.00 AM to 12.00 Noon.
Would labour contracts in relation to a building or structure treated as a works contract? No. Labour Contracts do not fall in the definition of works contract. It is necessary that there should be transfer of property in goods involved in the execution of such contract which is leviable to tax as sale of goods. Pure labour contracts are therefore not works contracts and would be leviable to service tax like any other service and on full value.
The National Voluntary Guidelines (NVG) on Social, Economic and Environmental Responsibilities of Business were released by the Ministry on 8th July, 2011. Subsequently, a Committee was constituted for formulating a reporting framework in an electronic format (on MCA-21 platform) for disclosure of information in terms of the NVG. The format suggested by the Committee for reporting of CSR activities as per the NVG was submitted to the Ministry recently. It is placed for information of all stakeholders for wider dissemination. Feedback, if any, may be sent by 20th July, 2012 at anil.prashar@mca.gov.in or navneet. its94@gmail .com.
Service Tax Notifications No. 13/2012-ST, DATED 17-3-2012 related to ‘Abatement from Service tax and Conditions for same on specified services’ which is to come into force from the date on which Section 66B comes into effect. Government has vide notification No. 19/2012 specified that Section 66B will come into effect from 01.07.2012.
