The Union Finance Minister Shri Pranab Mukherjee said that the primary benefit of the Goods and Services Tax (GST), when introduced, would be the removal of cascading effect of taxes which acts like a hidden cost and makes goods and services uncompetitive both in domestic and international markets.
Punjab VAT has notified all Tax Payers, VAT consultants, CA’s and all other stake holders that Department of Excise and Taxation, Punjab is proposing to amend forms VAT-1, VAT-4, VAT-15, VAT-18, VAT-19, VAT-23, VAT-24 and VAT 56 and to introduce forms VAT 61 and VAT 62 in Punjab Value Added Tax Rules, 2005, to make it compatible with the upcoming IT System and responsive to the needs of the taxpayers.
In pursuance of proviso to sub-regulation (1) of Regulation 10 of the Cost and Works Accountants Regulations, 1959 as amended, the Council of the Institute at its 274th Meeting held on 18th May, 2012 has decided that the Certificate of Practice of the members who have paid the prescribed fees and submitted the prescribed form for renewal of Certificate of Practice for 2012- 2013 within due date but not having requisite CEP credit hours, shall be renewed upto 31st March, 2013 without creating a precedence and their Certificate of Practice so renewed shall be valid subject to their obtaining requisite CEP credit hours within 30th June, 2012 positively.
Patilputra Central Co-Operative bank for Statutory Audit invites Tender from CA /CA Frims for Audit of Its Head Office and Twenty Branches. Last date of Application is 24.05.2012 and more details can be found at http://prdbihar.gov.in/
It has come to the notice of the Reserve Bank of India that an email has been sent in its name from mail id: alert@rbi.org and signed by RBI Online offering a ‘new online security platform’. According to the mail, the ‘new online security platform’ offers to ‘prevent online identity theft in internet banking by asking the customer to go through a two-way authentication factor before he/she properly logs into internet banking every time’. The email then asks the recipient to ‘download the attachment and update’.
In view of providing better services to its stakeholders and ensuring correctness of names approved through online mode (i.e. through STP mode without backend processing by RoC user), Ministry has decided to provide a facility for verification of such names by the RoC user on a real time basis for immediate action.
The Committee had made the following recommendations: (i) Immediate adoption of the proposed regulations for performance standards for power generation equipment; (ii) Levy of Custom Duty @10% additional custom duty – ‘Nil’ and Special Additional Duty (SAD) @ 4 (adding to 14%) for Mega and Ultra Mega Power Projects. Consequential adjustments in duty rates applicable for brownfield (expansion) projects to bring duty structure at par to Mega Power projects to also apply;
MCA adds another payment gateway through Union Bank of India for Credit Card and Internet Banking payments w.e.f. 20th May, 2012. For credit card payments, Union Bank of India shall be charging the transaction charge of 1.6% (plus applicable Government Charges) over and above the MCA statutory payment.
First List of Allotment of Statutory audits of UCBs for the F.Y. 2011-12 in Maharashtra – Download the List
List Of CAs/CMAs Who Have Been Selected For Empanelment In Service Tax Commissionerate, New Delhi For Special Audit Under Section 14AA Of Central Excise Act, 1944
