Section 91 provide for power to arrest. It empowers the Commissioner of Central Excise, to authorize any officer of Central Excise not below the rank of Superintendent of Central Excise, to arrest a person for the offences specified in clause (i) or clause (ii) of sub-section 89.
The concept of having a body such as National Financial Reporting Authority is not new as such. The Institute of Chartered Accountants of India already has many of these powers. In the Companies (Amendment) Act, 1999, new sub-sections (3A), (3B) and (3C) were inserted in section 211
Stock markets are once again buoyant, more so after the historic price fall in bullion a fortnight back. Investments, however, continue to be a major risk prone activity, whatsoever invested in and one therefore, needs to invest only after assessing his or her risk appetite.
While Service Tax is levied on almost services, barring few listed in negative list and exempted services, there are certain sectors which enjoy the special privileges. Education is one such sector which enjoy privilege under Service Tax and rightly so.
The new law is going to change the life of auditors as well as auditee. While the new role of auditors make them more responsible and accountable, the auditee’s financial statements shall have to be more explicit, self explanatory, transparent and fair.
Dr. Sanjiv Agarwal The stock markets are highly volatile. The economic growth is stand still. No major economic reforms are taking place. The top-line and bottom-line of India Inc is vulnerable. Interest rates are not encouraging if looked at considering inflation. Bullion is volatile, unaffordable and risky too. New curbs are in place. Real estate […]
No longer will one search for business partners or shareholders to form a company. Forming a company will not require company of anyone else and one can fulfill his or her dream of having a company on his own by there being just one member of that company.
Dr. Sanjiv Agarwal While taking a home loan may be easier these days as banks now a days go all out to grab new business, of course, subject to checks and balances, yet it comes with hard facts of risks in relation to increased cash outgo over a period as against what you might have […]
Dr. Sanjiv Agarwal India Inc will soon usher into a new era of more liberal, growth oriented and competitive regulatory frame work. Presently corporate entities are governed by a nearly six decade old enactment – Companies Act, 1956 which will get replaced by the Companies Act, 2013 which has been last week passed by Rajya […]
Dr. Sanjiv Agarwal The Voluntary Compliance Encouragement Scheme, 2013 (VCES, 2013) has been introduced by Finance Act, 2013 by the Union Government as a one-time measure to serve twin objectives – to encourage voluntary compliance of tax return filing and payment of Service Tax by granting immunity from interest and penal provisions. With the passage […]
