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DGFT has to Evolve from a Regulator to Facilitator – Suresh Prabhu

May 3, 2018 861 Views 1 comment Print

A two-day meeting of port officers organized by the Directorate General of Foreign Trade (DGFT), of the Department of Commerce, ended today in New Delhi. The Union Minister of Commerce & Industry and Civil Aviation, Shri Suresh Prabhu, addressed the regional officers from different parts of the country and urged them to reorient their thinking to be a facilitator and not a regulator.

Engagement of CA Firms for Statutory Audit of various units of ICAI

May 3, 2018 3795 Views 0 comment Print

ICAI invites applications from eligible Chartered Accountants firms for appointment as Statutory Auditors for its units i.e. Branches, Decentralized Offices and Regional Councils for the financial year 2018-19.

18% GST payable on railway track maintenance work: AAR

May 3, 2018 10158 Views 0 comment Print

The Applicant, stated to be an enlisted contractor engaged by the Railways for maintenance work of railway tracks, wants a ruling on the Classification and Rate of Tax when maintenance of railways tracks is done by them by providing contractors labour only in cases where the Railways supply materials free of cost and when maintenance of railways tracks is done by them by providing, both, contractor’s material and labour.

Under RTI act petitioner cannot elicit answer to his queries or ask for any ‘opinion’ or ‘advice’

May 3, 2018 15603 Views 1 comment Print

RTI Act does not cast on the public authority any obligation to answer queries in which the petitioner attempts to elicit answer to his queries with prefixes as why, what when and whether. The petitioner’s right extends only to seeking information as defined in section 2(f) either by pointing the file document, paper or record etc., or by mentioning the type of information as may be available with the specified public authority.’

EPFO: Reg. Defaulting Establishments mandated for inspection

May 3, 2018 6657 Views 0 comment Print

(1) The following categories of establishments are mandated for inspection without referring/seeking permission for inspection from CAIU, Head Office : (a) List of establishments generated through Shram Suvidha Portal of Ministry of Labour & Employment, Government of India for inspection.

Action to Be Taken In Case Of Non-Compliances with SEBI Listing Regulations with SOP

May 3, 2018 6486 Views 1 comment Print

Non-compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the Standard Operating Procedure for suspension and revocation of trading of specified securities.

Pass speaking order in Custom Reassessment cases: JNCH

May 3, 2018 2037 Views 0 comment Print

Section 17(5) of the Customs Act provides that ‘where any re-assessment done under sub-section (4) is contrary to the self-assessment done by the importer or exporter and in cases other than those where the importer or exporter, as the case may be, confirms his acceptance of the said re-assessment in writing, the proper officer shall pass a speaking order on the re­assessment, within fifteen days from the date of re-assessment of the bill of entry or the shipping bill, as the case may be.

Investment Limit for Sr Citizens doubled to Rs.15 lakh under PMVVY

May 3, 2018 2298 Views 2 comments Print

The Union Cabinet chaired by chaired by Prime Minister Shri Narendra Modi has given its approval for extending the investment limit from Rs 7.5 lakhs to Rs 15 lakhs as well as extension of time limits for subscription from 4th May 2018 to 31st March, 2020 under the Pradhan Mantri Vaya Vandan Yojana (PMVVY) as part of Government’s commitment for financial inclusion and social security.

Taxpayers guide to “Bill To Ship To” for E-Way Bill generation

May 3, 2018 18054 Views 3 comments Print

Taxpayers guide to Bill To Ship To for E-Way Bill under CGST Rules, 2017. Taxpayers guide on filling Part A of GST FORM EWB-01 when E-Way Bill is generated by A. Taxpayers guide on filling Part A of GST FORM EWB-01 when E-Way Bill is generated by B.

Examples of accounting under IFRS

May 3, 2018 4251 Views 0 comment Print

The purpose of this article is to learn about some common concepts under IFRSs, namely, the (i) time value of money comprising present value and future value of cash flows, (ii) simple and compound interest (iii) effective rate of interest (EIR), (iv) annuities, plus

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