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Appointment of Systems and Process Auditor with Oriental Insurance

March 2, 2018 2826 Views 0 comment Print

Letter of Interest for appointment of Investment Risk Management Systems and Process Auditor with Oriental Insurance Company Limited.

Need to rekindle credibility as core to our existence & growth: ICAI

March 2, 2018 1638 Views 1 comment Print

With spurt in economy and increased reliance on the role of profession, there started the issue of expectation gap or should I say perception gap. We need to rekindle the credibility as core to our existence and growth. Hardcore virtuous professional conduct and our faith in strong enforcement of the framework of the Act will evolve us to be stronger.

PNB Appoints BDO for forensic Audit of 5 Nirav Modi group companies

March 2, 2018 6849 Views 0 comment Print

PNB Bank had initiated the process of assigning Forensic Audit in the accounts of Nirav Modi Group and bids were invited from major audit firms. Bid from M/s BDO India LLP was Ll and after negotiations with them, M/s BDO India LLP has been appointed as Forensic Auditor for 5 group companies of Nirav Modi on 27.02.18

Anti Profiteering under GST- Authorities and Case Studies

March 1, 2018 17970 Views 3 comments Print

Why anti-profiteering authority is important? As before implementing GST in India many countries have adopted GST before namely Singapore, Australia, Malaysia and many more. Inflation in Australia was 1.9% before GST and rose to 5.3% after GST.

Separate limit of Interest Rate Futures for Foreign Portfolio Investors

March 1, 2018 921 Views 0 comment Print

Foreign Portfolio Investors, registered with Securities and Exchange Board of India, are permitted to purchase or sell Interest Rate Futures subject to the following conditions: (i) the aggregate long position of all FPIs, each of whom has a net long position in any IRF instrument, shall not exceed ₹ 5000 crore, aggregated across all IRF instruments,

Foreign banks to lend to small & marginal farmers & micro enterprises

March 1, 2018 840 Views 0 comment Print

Sub-target of 8 percent of Adjusted Net Bank Credit (ANBC) or Credit Equivalent Amount of Off-Balance Sheet Exposure (CEOBE), whichever is higher, shall become applicable for the foreign banks with 20 branches and above, for lending to the small and marginal farmers from FY 2018-19.

Customs Rate of Exchange of Conversion Foreign Currencies wef 02.03.2018 notified

March 1, 2018 957 Views 0 comment Print

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs No.13/2018-CUSTOMS (N.T.), dated 15th February, 2018

GST on bus body building, retreading of tyres, Priority Sector Lending Certificates etc.

March 1, 2018 27969 Views 0 comment Print

In the case of bus body building there is supply of goods and services. Thus, classification of this composite supply, as goods or service would depend on which supply is the principal supply which may be determined on the basis of facts and circumstances of each case.

Income Tax Notification No. 13/2018, Dated: 01.03.2018

March 1, 2018 3060 Views 0 comment Print

S.O. 910(E)—Whereas the Central Government in exercise of the powers conferred by clause (iii) of sub­section (4) of section 80-IA of the Income-tax Act, 1961(43 of 1961)(hereinafter referred to as the Act), has framed and notified a scheme for industrial park, by the notifications of the Government of India vide number S.O. 354(E)

CBEC increases BCD tariff rate on Chickpeas from 40% to 60%

March 1, 2018 966 Views 0 comment Print

Seeks to increase BCD tariff rate on Chickpeas, [Tariff item 0713 20 0] from 40% to 60% by invoking section 8A (1) of the Customs Tariff Act, 1975

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