Wednesday 29 February 2012

CBEC issued Rate of Exchange for conversion of foreign currency for computation of Custom Duty


[TO BE PUBLISHED IN THE GAZETTE OF INDIA, PART-II, SECTION 3, SUB-SECTION (ii), EXTRAORDINARY]

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
CENTRAL BOARD OF EXCISE AND CUSTOMS

NOTIFICATION   NO.14/2012-CUSTOMS (N.T.)

DATED THE 27th February, 2012
Phalguna, 1933(SAKA)

S.O.       (E). – 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 Government of India in the Ministry of Finance (Department of Revenue) No.9/2012-CUSTOMS (N.T.), dated the 30th January, 2012 vide number S.O. 189 (E), dated the 30th January, 2012, except as respects things done or omitted to be done before such supersession, the Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currency specified in column (2) of each of Schedule I and  Schedule II annexed hereto into Indian currency or vice versa shall, with effect from 1st March, 2012 be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods.

Earn 13% Coupon Interest on NCD of Muthoot Finance Ltd.

Dear All,

Muthoot Finance Ltd, country’s largest gold loan financing company, plans to raise 600 crores though public bond. The issue will open on March 2,2012,and close on March 17,2012. There are four investment options, including a 24-month plan, which will pay 13% coupon to different categories of investors, while 36-month and 60-month maturities will both pay a coupon of 13.25%. A 66-month option will gets a yield of 13.43% to different categories of investors. The face value of each NCD is 1,000 and the minimum application is for five NCDs and in multiples of each NCD thereafter. Please find below details of issue.  

India and ADB sign Loan agreement for US $ 50 Million to support Electricity Transmission And Distribution capacity in Assam


PRESS INFORMATION BUREAU GOVERNMENT OF INDIA
*****

INDIA AND ADB SIGN LOAN AGREEMENT FOR US $ 50 MILLION TO SUPPORT ELECTRICITY TRANSMISSION AND DISTRIBUTION CAPACITY IN ASSAM

New Delhi: Phalguna 08, 1933 
February 27, 2012

            The Government of India and the Asian Development Bank (ADB) today signed an agreement for the third and final $50 million tranche of an ADB loan.

This is the third and last tranche of total $ 320.6 million MFF, out of which loan assistance from ADB is $ 200 million and financing by Government of Assam is US$ 120.6 million. Tranches 1 and 2 are already under implementation.

India and ADB sign an agreement for US $100 Million ADB loan for Gujarat Solar Power Transmission System


PRESS INFORMATION BUREAU GOVERNMENT OF INDIA
*****

INDIA AND ADB SIGN AN AGREEMENT FOR US $100 MILLION ADB LOAN FOR GUJARAT SOLAR POWER TRANSMISSION SYSTEM

New Delhi: Phalguna 08, 1933 
 February 27, 2012

          The Government of India and the Asian Development Bank (ADB) today signed an agreement for a $100 million ADB loan to develop a transmission system that will distribute 500 megawatts of solar power from the Charanka Solar
Park in Gujarat.

         Using an innovative public private partnership (PPP) model, the project will create job opportunities, improve social services and contribute to poverty reduction locally. It will also support power distribution companies in Gujarat and other Indian power utilities to meet part of their clean energy procurement obligations through solar energy. 

Tuesday 28 February 2012

India and ADB sign an agreement for US$ 200 million to support the provision of reliable and 24-hour electricity to Rural households in Madhya Pradesh

PRESS INFORMATION BUREAU GOVERNMENT OF INDIA
*****

INDIA AND ADB SIGN AN AGREEMENT FOR US $ 200 MILLION ADB LOAN TO SUPPORT THE PROVISION OF RELIABLE AND 24-HOUR ELECTRICITY TO
RURAL HOUSEHOLDS IN MADHYA PRADESH

New Delhi: Phalguna 08, 1933 
                  February 27, 2012

The Government of India and the Asian Development Bank (ADB) today signed an agreement for the second and final $200 million tranche of an ADB loan to support the provision of reliable, 24-hour electricity to rural households in Madhya Pradesh.

RBI Working Paper Series on Gold Prices and Financial Stability in India


The Reserve Bank of India today placed on its website a Working Paper for the month of February 2012 titled “Gold Prices and Financial Stability in India”. The Working Paper has been written by Dr. Rabi N. Mishra and Shri G. Jagan Mohan.

There has been an almost unabated rise in the international gold prices in recent months. As gold is an integral part of savings of a large number of savers, this has raised apprehensions whether any correction in gold prices will have destabilising effects on the financial markets. In this backdrop, the present study initially examines the inter-linkages between domestic and international gold prices and then the nature of changes in the factors affecting international gold prices during the last two decades.

RBI - Import of Gold on Loan Basis - Tenor of Loan and Opening of Stand-by Letter of Credit


RBI/2011-12/411
A.P. (DIR Series) Circular No. 83
February 27, 2012
To
All Category – I Authorised Dealer Banks

Madam / Sir,

Import of Gold on Loan Basis-
Tenor of Loan and Opening of Stand - By Letter of Credit

Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to the A.P.(DIR Series) Circular No. 34 dated February 18, 2005, in terms of which the maximum tenor of gold loan was notified as 240 days consisting of 60 days for manufacture and exports +180 days for fixing the price and repayment of gold loan as per the Foreign Trade Policy 2004-2009 of the Government of India and that the tenor of the Standby Letter of Credit (SBLC), for import of gold on loan basis, where ever required, should be in line with the  aforesaid tenor of gold loan.

ICAI - Oracle R12 Financial 7 days Course at Delhi from 16th April 2012


The Committee on Information Technology of the  ICAI  is  organising  7 days  course on “Oracle R12 Financials” at Delhi from 16th April 2012.

The revised Oracle Financial Accounting Program would address the following topics.
  1.      Fundamentals of Oracle ERP R12 e-Business Suite
  2.      Security
  3.      General Ledger
  4.      Procure to Pay
  5.      Order to Cash
  6.      Cash Management
  7.      Assets
  8.      Ebiz Tax
  9.      Governance, Risk and Compliance
10.      Project Accounting
11.      Treasury, Lease and Property Management

CBEC appoints Common Adjudicating Authority to discharge duties conferred on JC of Ludhiana, Tughlakabad and JNPT


[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii)]

Government of India
Ministry of Finance
(Department of Revenue)

Notification
No. 13/2012-Customs (N.T.)

New Delhi, dated the 27th February, 2012.


S.O.          (E). – In exercise of the powers conferred by sub-section (1) of section 4 and sub-section (1) of section 5 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby appoints the Joint Commissioner or Additional Commissioner of Customs, CFS, ICD, G.T. Road, Sahnewal, Ludhiana, to act as a common adjudicating authority to exercise the powers and discharge the duties conferred or imposed on- 

CBEC amends Notification No. No. 12/97-Customs (N.T.), dated the 2nd April, 1997 thereby making Thimmapur Village, District Mahbubnagar an ICD


[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)

Notification No. 12/2012 - Customs (N.T.)

New Delhi, dated the 27th February, 2012

G.S.R…..(E).- In exercise of the powers conferred by clause (aa) of sub-section (1) of section 7 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 12/97-Customs (N.T.), dated the 2nd April, 1997, published in the Gazette of India,  vide number G.S.R. 193(E), dated the 2nd April, 1997, namely:-

Monday 27 February 2012

India Ratifies The Multilateral Convention On Mutual Administrative Assistance In Tax Matters


PRESS INFORMATION BUREAU GOVERNMENT OF INDIA
*****

INDIA RATIFIES THE MULTILATERAL CONVENTION ON MUTUAL ADMINISTRATIVE ASSISTANCE IN TAX MATTERS AND BECOMES THE FIRST NON-OECD, NON-COUNCIL OF EUROPE COUNTRY TO BECOME A PARTY TO THE CONVENTION

New Delhi: February 24, 2012



India had signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters on 26th January, 2012. The Convention has been ratified by India by depositing the Instrument of Ratification as on 21st February, 2012. By this, India has become the first non-OECD, non-Council of Europe country to become a party to the Convention as amended by the 2010 Protocol

Import of Gold on Loan Basis - Tenor of Loan and Opening of Stand - By Letter of Credit


RBI/2011-12/411
A.P. (DIR Series) Circular No. 83

February 27, 2012

To
All Category – I Authorised Dealer Banks

Madam / Sir,

Import of Gold on Loan Basis-
Tenor of Loan and Opening of Stand - By Letter of Credit

Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to the A.P.(DIR Series) Circular No. 34 dated February 18, 2005, in terms of which the maximum tenor of gold loan was notified as 240 days consisting of 60 days for manufacture and exports +180 days for fixing the price and repayment of gold loan as per the Foreign Trade Policy 2004-2009 of the Government of India and that the tenor of the Standby Letter of Credit (SBLC), for import of gold on loan basis, where ever required, should be in line with the  aforesaid tenor of gold loan.

RBI launches the 27th Round of Inflation Expectations Survey of Households


The Reserve Bank of India has today launched 27th round of Inflation Expectations Survey of  Households. The survey is for the reference period January -March 2012. M/s Beaumont Consultancy Services, Mumbai has been engaged to conduct this round of the Survey on behalf of the Reserve Bank of India. Households will be approached by M/s Beaumont Consultancy Services, Mumbai during the quarter for the purpose.  Selected households are requested to provide their response. In case of any query/clarification, households may  contact:-
The Director, Division of Household Surveys, Department of Statistics and Information Management, Reserve Bank of India, C-8, 6th Floor, Bandra-Kurla Complex, Bandra (East), Mumbai-400051; Phone: 022-26578390, 022-26578332, Fax: 022-26571327, 022-26571555; e-mail.

VERIFICATION OF MARKS OF CS DECEMBER, 2011 EXAMINATIONS


VERIFICATION OF MARKS  OF CS  DECEMBER, 2011 EXAMINATIONS
          
In terms of regulation 46 (2) of  The Company Secretaries Regulations, 1982, as in force, a candidate can seek ‘Verification of Marks’ in any subject(s) of  December , 2011 examination within one month from the date of  declaration of results.  The application for verification of marks should be made by interested candidates in the prescribed form given below, in candidate’s own handwriting together with  requisite fee @ Rs.100/- per subject within one month from the date of  declaration of results, i.e., upto and including 26th March, 2012 (25th    March, 2012 being Holiday).   

GUIDELINES, RULES AND PROCEDURES FOR SUPPLY OF CERTIFIED COPY(IES) OF ANSWER BOOKS TO STUDENTS





1.
GUIDELINES, RULES AND PROCEDURES FOR SUPPLY OF CERTIFIED   COPY(IES) OF ANSWER BOOKS TO STUDENTS 

A student who wishes to obtain certified copies of his/her answer books of any subject(s) of a particular examination shall apply on the prescribed application form together with (a) requisite fee; and (b) self-attested photocopy of his/her Admit Card (Roll No.) or Student Identity Card so as to reach the Institute within 45 days from the date of declaration of the result.




2.
The Application Fee for supply of certified copy(ies) of answer book shall be Rs.100/- per subject(s)/answer book(s).  The fee shall be paid through Demand Draft drawn in favour of “The Institute of Company Secretaries of India”, payable at New Delhi.




3.
The envelope containing student’s Application Form, duly completed in all respect, together with the requisite fee and photocopies of the supporting documents, as mentioned in para 1 above, shall be superscribed “Application for Supply of Certified Copies of Answer Books” and  sent to:



   The Joint Director (Exams.)
                                              The Institute of Company Secretaries of India
                                              C-37, Institutional Area, Sector 62
                                              NOIDA – 201 309.




4.
Application Form without requisite fee and supporting documents and complete particulars, as indicated above, shall not be entertained.




5.
Before supplying certified copy(ies) of answer books, to a student on his/her request, if it is noticed that any sub-question/question of his/her answer book has inadvertently remained unevaluated or there is some posting or totalling error, the Institute would rectify such an omission and commission and communicate the revised/marks/result to the student.  However, it may be noted that re-valuation of answers is not permissible under Regulation 46(2).




6.
The certified copies of the answer books supplied to the student shall be for his/her exclusive personal reference and guidance. 




7.
On receipt of certified copies of the answer books, the applicant student shall be the sole custodian of it and he/she shall not part with the custody/possession of the same and shall not use the same for any other purpose(s).




8.
If any error is discovered at any point of time as provided in para 5 above, the Institute shall have suo motu power to rectify the same.



Contd… 2.










Application Form for supply of CERTIFIED
copy(ies) of Answer Books


(Before filling-up this form, please go through the Guidelines, Rules and Procedures)

The Joint Director (Exams.)
The Institute of Company Secretaries of India
C – 37, Sector 62
Institutional Area
NOIDA – 201 309.

Dear Sir,

            I, the undersigned, request you to supply me the certified copy(ies) of my answer books as per details given below :

1.
Name of Student

2.
Student Regn. No.

3.
Complete Correspondence  Address




PIN CODE:
4.
E-mail id

5.
Details about appearance in the subjects of examination for which copy(ies) of answer books is/are requested

Stage &
Session of Exam

Roll
No.
Name of the
Subject(s)
Marks
Obtained


















6.
Details of fee remitted [(Application Fee @ `Rs. 100/- per subject(s) / answer book(s)]
Demand
Draft No.
Date
Name of the
Issuing Bank
Amount
(Rs.`)







            I have read the guidelines, rules and procedures and the same are acceptable to me.


            I hereby undertake that I am a bonafide student of the Institute and the copy(ies) of answer book(s) applied for, belong to me.  For this purpose, I am enclosing self-attested photocopy of my Admit Card (Roll No.)*/Student Identity Card issued to me by the Institute.  In case, any particular or statement is found to be false, the Institute may take appropriate action against me, as deemed fit.

Yours faithfully,


_____________
(Signature)
Place: _________
                                                                                  Name: _________________
Date: __________

.
*Delete whichever is not applicable.

The ICSI invites applications for the posts of the ‘Secretary’ and the ‘Chief Executive’



The Institute of Company Secretaries of India (ICSI) is a statutory body enacted by the Parliament under the Company Secretaries Act, 1980 to regulate and develop the profession of Company Secretaries in India. The ICSI has on its roll over 25,000 members and over 2,80,000 students. The Institute is governed by the Council of the Institute responsible for the management of the affairs of the Institute and for discharging the functions under the Company Secretaries Act, 1980. The ICSI has its Headquarters at New Delhi, four Regional offices in Chennai, Kolkata, Mumbai and New Delhi and Chapter offices in 68 cities across the country. It has 97 Examination centers across the country including an overseas centre at Dubai.

ICAI's President Message - March 2012


Dear friends,
The only thing that is never-changing is the change itself. And every change offers a new beginning. This is the eternal phenomenon that encompasses everything - our profession and the ICAI included. As the ICAI enters a new Council Year, the baton of profession’s leadership has changed hands too. And at the forefront of this change in the realm of our profession, I humbly salute you as the new President of the ICAI. As the saying goes, a beginning is only the start of a journey to another beginning. As I begin my new role as 60th President of the Institute, I wish that the profession makes a new beginning too - a new beginning with renewed vigour and thrust to reach the pinnacle of global glory. A journey of a thousand miles begins with a single step. So, join me in taking that first step together and rededicate ourselves to promote professional excellence and opportunities to conquer these challenging times.

Date of opening of Technical Bids for development of Insurance and Power Sector Taxonomies

Technical Bids, submitted by the vendors for the development of Power and Insurance Sector Taxonomies, shall be opened in the next meeting of Taxonomy Development and Review Committee which has been scheduled for 2nd March, 2012 at 3PM in WIRC Office of ICAI in Mumbai.

Applicability of provisions of the Notifications No. 417 (E) dated 27.05.2011 on Molasses used in Hookah containing tobacco


F.No. 528/133/2011-STO (TU)

Government of India
Ministry of Finance         
(Department of Revenue)
Central Board of Excise & Customs
Tariff Unit
*******
229A, North Block, New Delhi,
22nd February, 2012.
To


All Chief Commissioners of Customs / Customs (Prev.),
All Chief Commissioners of Customs & Central Excise,
All Commissioners of Customs / Customs (Prev.),
All Commissioners of Customs & Central Excise,
All Directors General under CBEC.

Sir / Madam,


Subject:   Applicability of provisions of the Notifications No. 417 (E) dated 27.05.2011 on Molasses used in Hookah containing tobacco – regarding.  


            Reference has been received on import of molasses for use in hookah without compliance of the Cigarettes and other Tobacco Products (Packaging and Labelling) Rules, 2008 Rules, which prescribes the manner in which the specified health warning shall be displayed on the tobacco product packs covering all types of tobacco products produced, supplied and distributed in India.  The Rules came into effect from 31st May, 2009 and a set of new pictorial health warning has been issued by the Ministry of Health & Family Welfare vide Notification G.S.R. No. 417 (E) dated 27th May, 2011 which came into force from 1st December, 2011. The Ministry of Health & Family Welfare has now confirmed that anything containing tobacco is covered under the Cigarette and other Tobacco Products (Prohibition of Advertisement and Regulation of Trade and Commerce, Production, Supply and Distribution) (COPTPA) Act, 2003. 

Sunday 26 February 2012

ICAI - Verification Status of November - 2011 Examinations (Final)

 1)   Roll Numbers of candidates where no change in marks found Click Here All these candidates have been intimated by post.

2)   Roll Numbers of candidates where change in marks found but there is no change in result or exemption in applied papers found Click Here Revised statement of marks has been sent.

3)   Roll Numbers of candidates who have obtained exemption in any of the applied papers. Click Here Revised statement of marks has been sent.

FM - GST will bring about a paradigm shift in the arena of indirect taxation in the country


PRESS INFORMATION BUREAU
GOVERNMENT OF INDIA
*****

GST WILL BRING ABOUT A PARADIGM SHIFT IN THE ARENA OF
 INDIRECT TAXATION IN THE COUNTRY; 
ASKS CBEC TO MAKE EXTRA EFFORTS TO MEET THE TARGETS OF 
INDIRECT TAX COLLECTIONSFOR THE CURRENT FISCAL : FM

New Delhi: Phalguna 03, 1933 
February 22, 2012

The Union Finance Minister Shri Pranab Mukherjee said that with the introduction of Goods and Services Tax (GST), we are now perhaps at the door-step of the most significant reform in the history of indirect taxes in the country. He said that GST is expected to be a more efficient system of taxation and is likely to give a boost to the tax revenues of the Centre and the States. The Finance Minister Shri Pranab Mukherjee said that GST will also remove barriers amongst States and convert the entire country into a common market. Once implemented, GST will bring about a paradigm shift in the arena of indirect taxation in the country, the Finance Minister added. Shri Mukherjee was speaking at the Investiture Ceremony organized here today to confer Presidential Award of Appreciation Certificates notified for the year 2011, to 35 officers and staff of the Customs and Central Excise Department. One of the officers was awarded the certificate for exceptionally meritorious service at the risk of his life.