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Archive: 10 October 2016

Posts in 10 October 2016

CBI arrests Excise Superintendent for Accepting Rs.50,000/- as Bribe

October 10, 2016 1702 Views 0 comment Print

The Central Bureau of Investigation has arrested a Superintendent of Central Excise, Faridabad for demanding & accepting a bribe of Rs.50,000/- from the complainant.

Indirect Tax Collections up to Sep, 2016 shows increase of 25.9%

October 10, 2016 631 Views 0 comment Print

Indirect Tax Collections up to September, 2016 show an increase of 25.9% over the net Indirect Tax collections for the corresponding period last year(2015-16); Net revenue collections up to September, 2016 stood at Rs 4.08 lakh crore which is 52.5% of the Budget Estimates of Indirect Taxes for Financial Year 2016-17.

Govt. Launches Enhanced Foreign Trade Data Dashboard

October 10, 2016 883 Views 0 comment Print

The new Dashboard gives a graphical collection of exports, imports and balance of trade of India; e.g., the Export turnover of the country – how it performs over time and space? What are the export destinations? What items are being exported?

Raising of further capital & process of exit of Exclusively Listed Companies from Dissemination Board

October 10, 2016 1846 Views 0 comment Print

SEBI has been receiving representations seeking clarifications on raising of further capital and the process of exit of ELCs from the DB. Therefore, SEBI, in the interest of the investors of such ELCs, clarifies as follows:

Failure of CA to investigate transactions in depth is gross negligence in performing professional duties

October 10, 2016 10438 Views 0 comment Print

Delhi HC held that a Chartered Accountant while doing concurrent audit is expected to check the transactions falling within the scope of audit in depth. Thus, non-checking of the same would be gross negligence on his part while performing professional duties.Accordingly, he is liable to face the charge of professional misconduct under clause 7 of the First Schedule of the CA Act, 1949.

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October 2016