All students appearing in June, 2012 session of CS examinations are
hereby informed that detailed particulars of their examination form ( including their photograph
and signature) have been uploaded on institute’s website www.icsi.edu. All
students are advised to check and verify the enrollment details carefully and
if any discrepancy is found, the same may be communicated to Directorate of
Student Services, Noida immediately for necessary corrections. No requests for change will be entertained
after 17th May, 2012.
Sunday, 8 April 2012
Inauguration of Direct Taxes Regional Training Institute, Bangalore.
DIRECT TAXES REGIONAL TRAINING INSTITUTE, BANGALORE
Honorable Finance Minister, Sh. Pranab Mukherjee will inaugurate the Direct Taxes Regional Training Institute complex, Bangalore on 8th April 2012.
The Institute:
Direct Taxes Regional Training Institute, Bangalore (DTRTI
or the Institute, for short) is the training arm of the Income-tax Department.
It functions under the aegis of National Academy of Direct Taxes, Nagpur. DTRTI
had its humble origin in 1973 at No 18, Crescent Road, Bangalore. Original
jurisdiction of DTRTI spanned across South India, covering Karnataka, Goa,
Andhra Pradesh, Tamil Nadu and Kerala.
After the creation of a training center at Chennai, the
jurisdiction is now restricted to the first three states where its training
base numbers about 4000 departmental personnel. However, for its specialized
courses, the jurisdiction extends to all over the country. Two units for
training the ministerial staff, one each at Bangalore and Hyderabad, are part
of DTRTI. In its existence of about 38 years, DTRTI has so far trained nearly
60,000 officials of the Department.
ICAI - Oracle ERP Financial Accounting Training Program at Mumbai from 27th May 2012 (FCFS, last date 1st May 2012, 20 CPE Hours)
Oracle ERP Financial Accounting Training
Program at Mumbai
(Last date of registration: 1st May 2012) (20
CPE Hours)
The
Committee on Information Technology of the ICAI is organizing an Oracle
Financial Accounting Training program. This is a Blended Training with a
combination of 7 days Trainer Led Program and 1 Year Access to Online Oracle
Finance Training modules.
Exposure Draft of General Purpose Financial Reporting XBRL Taxonomy Based on Revised Schedule VI for Commercial and Industrial Companies
The Ministry of Corporate Affairs (MCA) has laid down a new format of Schedule VI to the Companies Act, 1956 applicable for the Financial Statements prepared for the accounting year commencing on or after 1st of April, 2011.
With the new reporting format, the taxonomy also needed to undergo a change. Accordingly, the new taxonomy, based on the Revised Schedule VI requirements, for the Commercial & Industrial (C&I) companies has been developed by ICAI. The new taxonomy is a general purpose taxonomy capable of being used for filing annual financial statements for any Commercial & Industrial companies. It covers the financial statements, viz. Balance Sheet, Statement of Profit and Loss and Cash Flow Statement and the related notes and the non-financial information. The draft taxonomy has been developed conforming to the requirements of the Revised Schedule VI, existing notified Indian Accounting Standards and Guidance Notes on Accounting issued by ICAI while adapting the architectural features of the IFRS general purpose taxonomy 2011. MCA specific requirements have also been added to the taxonomy so as to meet their reporting requirements.
With the new reporting format, the taxonomy also needed to undergo a change. Accordingly, the new taxonomy, based on the Revised Schedule VI requirements, for the Commercial & Industrial (C&I) companies has been developed by ICAI. The new taxonomy is a general purpose taxonomy capable of being used for filing annual financial statements for any Commercial & Industrial companies. It covers the financial statements, viz. Balance Sheet, Statement of Profit and Loss and Cash Flow Statement and the related notes and the non-financial information. The draft taxonomy has been developed conforming to the requirements of the Revised Schedule VI, existing notified Indian Accounting Standards and Guidance Notes on Accounting issued by ICAI while adapting the architectural features of the IFRS general purpose taxonomy 2011. MCA specific requirements have also been added to the taxonomy so as to meet their reporting requirements.
ICAI - Last Date Extended to 11th April 2012 for Empanelment for Observers for the CA Exam to be held in May-2012 and the Common Proficiency Test to be held in June-2012
| 4th April, 2012 |
| Examination Department |
The last date for receipt of application for Empanelment for Observers for Chartered Accountants Main Examinations scheduled to be held from 2nd to 17th May, 2012 and CPT on 17th June, 2012 has been extended upto 11th April, 2012 (Wednesday).
|
ICAI - Extension of Common Proficiency Course (CPC) Registration date upto 9th April, 2012
| Important Announcement | ||
| ||
Sub: Further extension of Common Proficiency Course (CPC) registration date upto 9th April, 2012 | ||
In continuation of earlier announcement dated January 5, 2012, it is hereby informed that due to the closure of Banks on account of yearly closing and subsequent public holidays on 5th April, 2012 (Mahavir Jayanti) and 6th April, 2012 (Good Friday), the last date for registration for Common Proficiency Course (CPC) shall be 9th April, 2012 for being eligible to appear in the Common Proficiency Test (CPT) to be held in June, 2012.
|
CG prohibits import into or export from India of Hazardous Wastes
[To be published in Gazette of India Part -II-Section 3-Sub-sections-(i), Extraordinary]
Government of India
Ministry of finance
Department of Revenue
Central Board of Excise and Customs
Notification No.31/2012-Customs (N.T.)
New Delhi, 4th April 2012.
GSR (E)……In exercise of the powers conferred by sub-section (1) of section 11 of the Customs Act, 1962 (52 of 1962), and in suppression of the notification No. 35/2004-CUSTOMS (N.T.), dated 19.3.2004, published in the Gazette of India Part-II, Section 3, Sub-section (ii) vide G.S.R. 201(E) dated 19th March 2004, except as respect things done or omitted to be done before such suppression, the Central Government, being satisfied that it is necessary so to do for the purpose of the protection of human, animal, plant life and health, hereby prohibits import into India and export out of India of hazardous wastes specified in Scheduled VI to the Hazardous Waste (Management, Handling and Transboundary Movement) Rules, 2008, issued under the Environment (Protection) Act, 1986 (29 of 1986), save as otherwise provided under the said Act and the rules made thereunder.
Wednesday, 4 April 2012
Depreciation restricted to 15% on wind mills installed after 31-3-2012
Income-tax (Fourth Amendment Rules, 2012 –
Depreciation restricted to 15% on wind mills installed after 31-3-2012
Notification No. 15/2012 [F.No.149/21/2010-SO(TPL)] S.O.694(E),
dated 30-3-2012
In exercise of the powers conferred by section
295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes
hereby makes the following rules further to amend the Income-tax Rules, 1962,
namely:-
1. (1) These rules may be called the Income-tax ( 4th Amendment)
Rules, 2012.
(2) They shall come into force on the 1st day
of April, 2012.
New Income Tax Return Forms for Assessment Year 2012-13
CBDT notifies New below mentioned Income Tax Return Forms for the Assessment Year 2012-13:-
CBEC - Clarification on Point of Taxation Rules, 2011
Circular No.154/5/ 2012 – ST
FNo 334/1/2012- TRU
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise and Customs
Tax Research Unit
Room No 146, North Block, New Delhi
Dated: 28th March 2012
To
Chief Commissioner of Customs and Central Excise (All)
Chief Commissioner of Central Excise & Service Tax (All)
Director General of Service Tax
Director General of Central Excise Intelligence
Director General of Audit
Commissioner of Customs and Central Excise (All)
Commissioner of Central Excise and Service Tax (All)
Commissioner of Service Tax (All)
Madam/Sir,
Subject: - Clarification on Point of Taxation Rules - regarding.
1. Notification No.4/2012 - Service Tax dated the 17th March 2012 has amended the Point of Taxation Rules 2011w.e.f. 1st April 2012, inter- alia, amending Rule 7 which applied to individuals or proprietary firms or partnership firmsproviding taxable services referred to in sub-clauses (g), (p), (q), (s), (t), (u), (za) and (zzzzm) of clause (105) of section 65 of the Finance Act, 1994. Rule 7 determined the point of taxation in such cases as the date of receipt of payment. The provisions have been amended both in the Point of Taxation Rules 2011 and the Service Tax Rules 1994 such that from 1stApril 2012 the payment of tax shall be allowed to be deferred till the receipt of payment upto a value of Rs 50 lakhs of taxable services. The facility has been granted to all individuals and partnership firms, irrespective of the description of service, whose turnover of taxable services is fifty lakh rupees or less in the previous financial year.
CG amends Central Excise Rules, 2002 vide Central Excise (Third Amendment) Rules, 2012.
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (1) ]
Government of India
Ministry of Finance
Department of Revenue
Notification No.22 /2012--Central Excise (N.T.)
New Delhi, dated,30th March, 2012
G.S.R ( E ) . – In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944), the Central Government hereby makes the following rules further to amend the Central Excise Rules, 2002, namely :-
1. Short title and commencement.- (1) These rules may be called the Central Excise ( Third Amendment) Rules, 2012.
(2) They shall come into force on the date of their publication in the Official Gazette.
CG amends CENVAT Credit Rules, 2004 vide CENVAT Credit (Fourth Amendment) Rules, 2012
[TO BE PUBLISED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB SECTION (i)]
Government of India
Ministry of Finance
Department of Revenue
Notification No. 21/2012 – Central Excise (N.T.)
New Delhi, the 27th March, 2012
G.S.R....... (E).- In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944) and section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the CENVAT Credit Rules, 2004, namely : -
1. (1) These rules may be called the CENVAT Credit (Fourth Amendment) Rules, 2012.
(2) Save as otherwise provided in these rules, they shall come into force on the date
of their publication in the Official Gazette.
2. In the CENVAT Credit Rules, 2004,-
CG amends notification No.18/2012-Central Excise by replacing Item No.15
[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)
New Delhi, the 30th
March, 2012
Notification No. 22/2012-Central Excise
G.S.R.
(E).- In exercise of the powers conferred by sub-section (1) of section 5A of
the Central Excise Act, 1944 (1 of 1944), the Central Government, being
satisfied that it is necessary in the public interest so to do, hereby makes
the following amendments in the notification of the Government of India in the
Ministry of Finance (Department of Revenue), No. 18/2012-Central Excise, dated
the 17th March, 2012, published in the Gazette of India,
Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 169 (E), dated the 17th March, 2012, namely:-
CG amends notification No. 12/2012-Central Excise by replacing Item No. 73
[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)
New Delhi, the 30th March, 2012
Notification No. 21/2012-Central
Excise
G.S.R.
(E).- In exercise of the powers conferred by sub-section (1) of section 5A of
the Central Excise Act, 1944 (1 of 1944), the Central Government, being
satisfied that it is necessary in the public interest so to do, hereby makes
the following amendments in the notification of the Government of India in the
Ministry of Finance (Department of Revenue), No. 12/2012-Central Excise, dated
the 17th March, 2012, published in the Gazette of India, Extraordinary,
Part II, Section 3, Sub-section (i), vide number
G.S.R 163 (E), dated the 17th March, 2012, namely:-
CG amends Notification No. 101/2004-Customs (N.T.) by inserting Rule 13A and Rule 19A
[TO
BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-IL SECTION-3, SUB-SECTION (ii)]
Government of India
Ministry of Finance
(Department of Revenue)
Notification No. 29/2012-CUSTOMS (N. T.)
New Delhi, 30th of March, 2012
10 Chaitra, 1934 (SAKA)
S.O.... (E).- In exercise of the powers
conferred by sub-section (1) of section 5 of the Customs Tariff Act, 1975 (51
of 1975), the Central Government hereby makes the following further amendment
in the notification of the Government of India in the Ministry of Finance
(Department of Revenue), No. 101/2004-Customs (N.T.), dated the 31st
August, 2004, published in the Gazette of India, Extraordinary, Part-II,
Section-3, Sub-section (ii), vide number S. O. 970 (E), dated the 31st
August, 2004, namely:-
Tariff Value Notified by CBEC for Palm Oil, Palmolien, Crude Soyabean Oil, Brass Scarp, Poppy Seed, Gold & Silver
[TO BE PUBLISHED THE GAZETTE OF INDIA,
EXTRAORDINARY, PART-II, SECTION-3, SUB-SECTION (ii)]
Government of India
Ministry of Finance
(Department of Revenue)
(Central Board of Excise and Customs)
Notification No. 30/2012-CUSTOMS (N. T.)
New Delhi, 30th
of March, 2012
10 Chaitra, 1934 (SAKA)
S.O. ... (E).- In exercise of the powers conferred by sub-section (2) of
section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise
& Customs, being satisfied that it is necessary and expedient so to do,
hereby makes the following amendment in the notification of the Government of
India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs
(N.T.), dated the 3rd August, 2001, published in the Gazette of India,
Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S. O. 748 (E),
dated the 3rd August, 2001, namely:-
Clarification regarding classification of structural components of Boiler and admissibility of CENVAT credit on these structural components
Circular No.964/07/2012-CX
F. No. 84/1/2011-CX-1
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise & Customs
New Delhi, dated 2nd April, 2012
To
All Chief Commissioners of Central Excise & Customs,
All Chief Commissioners of Central Excise,
All Directors Generals
Sir/Madam,
Subject : Clarification regarding classification of structural components of Boiler and admissibility of CENVAT credit on these structural components – reg.
Reference has been received from Trade seeking clarification regarding classification of structural parts/components of Boiler and admissibility of CENVAT credit on these parts/components to the buyers of the Boilers. It has been represented that CENVAT credit is being denied to the supporting structural parts of the Boilers at the buyers’ end by classifying the same under Chapter 73 as structural parts and not as a part of Boiler. These are not being covered under the definition of inputs under the CENVAT Credit Rules, 2004, on account of exclusion given in rule 2 (k)(iv)(B)(b). This denial is on the ground that these are used for structures for support of Capital goods, without which the Capital goods can function.
Clarification Regarding Mega Power Project (MPP) exemption
Circular No. 963/06/2012-CX
F.No.101/9/2011-CX.3
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise & Customs
New Delhi, the, 29th March, 2012
To
All Chief Commissioners of Central Excise & Customs,
All Chief Commissioners of Central Excise,
All Directors Generals
Sir/Madam,
Sub: Clarification Regarding Mega Power Project (MPP) exemption – reg.
Representations have been received seeking clarification regarding the entry at S.No. 91B of Notification No.6/2006-CE dated 1.3.2006 (present entry no. 338 of Notification No. 12/2012-CE dated 17.3.2012). Sl.No.91B of Notification No.6/2006-CE dated 1.3.2006 prescribes exemption to specified goods when supplied to Mega Power Projects. The exemption is available subject to condition No.28 which, inter alia, prescribes that in case the certificate issued by the Joint Secretary in the Ministry of Power regarding the project having the status of Mega Power Project is provisional, the Chief Executive Officer of the Project has to furnish a Fixed Deposit Receipt (FDR) for an amount equal to the Central Excise duty payable for a term of thirty six months or more to the Deputy Commissioner or the Assistant Commissioner of Central Excise having jurisdiction.
Payment of arrears from Cenvat Credit earned at a later date
Circular No.962/05/2012-CX
F.No.267/96/2009-CX8
Government of India
Ministry of Finance
Department of Revenue
(Central Board of Excise & Customs)
Ministry of Finance
Department of Revenue
(Central Board of Excise & Customs)
New Delhi, dated the 28th March, 2012
To,
All Director Generals,
All Chief Commissioners of Central Excise (including LTU),
All Commissioners of Central Excise (including LTU).
Sir/ Madam,
Subject: Payment of arrears from Cenvat Credit earned at a later date
Reference was received from the field formation seeking clarification on the issue as to whether the arrears of duty can be paid by utilizing thecenvat credit which has accrued subsequent to the period to which the arrears pertained. Such clarification has been sought in view of first proviso to rule 3(4) of the Cenvat Credit Rules, 2004. As per this proviso, “while paying duty of excise or service tax, as the case may be, the cenvat credit shall be utilized only to the extent such credit is available on the last day of the month or quarter, as the case may be, for payment of duty or tax relating to that month or the quarter, as the case may be.”
Revised Treaty of Trade between India and Nepal
Circular No. 961/04/2012-CX
F.No.201/03/2010-CX.6
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise and Customs
New Delhi, the 26th March, 2012
To
All Chief Commissioners of Central Excise
All Chief Commissioners of Customs & Central Excise
All Chief Commissioners of LTU
Sir/Madam,
Sub: Revised Treaty of Trade between India and Nepal.
As you are aware, Duty refund procedure (DRP) prescribed by Notification No. 20/2004-CE(NT) dated 6.9.2004 has been rescinded vide Notification No. 25/2011-CE(NT) dated 5.12.2011 w.e.f 1st March, 2012. Export to Nepal under claim of rebate is permissible under Notification No. 19/2004-CE(NT) dated 6.9.2004 as amended by Notification No. 24/2011-CE(NT) dated 5.12.2011 issued under rule 18 of Central Excise Rules, 2002 and under bond/LUT vide Notification No. 42/2001-CE(NT) dated 26.6.2001 [as amended by Notification No. 26/2011-CE(NT) dated 5.12.2011] in terms of Rule 19 of Central Excise Rules, 2002.
Refund of 4% CVD (SAD)-Extension of time upto 30th June 2012
Circular No.10/2012-Customs
F.No.401/16/2012-Cus.III
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise and Customs
North Block, Room No. 253-A,
New Delhi, the 29th March 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.
Subject:- Refund of 4% CVD (SAD)-Extension of time upto 30th June 2012, for using re-credited 4% CVD (SAD) amount in DEPB-Regarding.
Sir / Madam,
Your kind attention is invited to the Circular No.02/2012-Customs, dated 16-02-2012, regarding procedure on refund of 4% CVD (SAD).The above Circular provides the facility of manual filing of Bill of Entry for utilizing the amount of re-credited 4% CVD refunds (SAD) for payment of duty in case of re-credited DEPB/ Reward Scheme scrips upto 31-03-2012.
ICSI - GAIL (India) Limited –Campus Recruitment
GAIL (India
GAIL (India) Limited, is a Navratna PSU
and India's flagship Natural Gas company, integrating all aspects of the
Natural Gas value chain (including Exploration & Production, Processing,
Transmission, Distribution and Marketing) and its related services.
The company intends to recruit
Company Secretary for the post of Executive Trainee (CS) in E-2 Grade
in the Pay Scale of Rs. 24,900-50,500/- in GAIL (India) Limited as per
following details:
|
Post
|
Essential Qualification
|
Maximum Age Limit
|
No. of Posts
|
|
Executive Trainee (CS)
|
Candidate should have acquired Associate
membership of
|
28 years as on 31.03.2012
|
01 (OBC-NCL)
|
|
# Upper age limit is relaxable by 3 years
and 08 years for OBC (NCL) and PH-OBC candidates respectively.
#The Total Number of Projected vacancies indicated above may increase
/ decrease depending upon the business requirements of the Company.
|
|||
The Selected candidates for the post of Executive Trainee in E-2
Grade will be placed in the pay scale of Rs.24900 - Rs.50500/- at
the Basic Pay of Rs.24900/-. Selected candidates will be required to undergo
one year Probation-cum-training period and will be required to sign a Service
Bond worth Rs. 1, 00,000/- for a period of four years including one year
Probation-cum-training period. (Service Bond of Rs. 25,000/- for SC/ST/OBC/PH
candidates). On successful completion of one year Probation-cum-training
period the selected candidates will be placed in E-2 Grade in the pay scale of
Rs.24,900–50,500 /-.
CTC admissible at basic pay of Rs. 24900/- in E-2 grade depending on
location of posting and availment of type of accommodation facility ranges
between 9.2 lacs to 12.2 lacs approximately.
Application Format may be downloaded from
the following link:-
Interested candidates are requested to email the duly filled in excel sheet( Format of Application)
mentioning ‘GAIL
Application’ in the subject line at placement@icsi.edu by 10th April
2012 ( 1730 Hrs)
No other document/CV is required to be sent
with the email.
CG amends Notification No.16/2011-Customs N.T. by exempting import of filter rods for Bidis
[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. 27/2012 - Customs (N.T.)
New Delhi, 28th March, 2012
G.S.R (E). - In exercise of the powers conferred by section 11 of the Customs Act, 1962 (52 of 1962), the Central Government on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 16/2011-Cus (N. T.), dated, the 1st March,2011, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 155 (E), dated the 1st March,2011, namely:-
In the said notification, in the Table, against S.No.2, for the entry in column (4), the following shall be substituted, namely:-
“ Filter cigarettes, bidis or Pharmaceutical products of Chapter 30”.
[F.No. 334/1/2012-TRU]
(Raj Kumar Digvijay)
Under Secretary to the Government of India
Note.- The principal notification No.16/2011-Customs(N.T) dated the 1st March, 2011 was published in the Gazette of India, Extraordinary,Part II, Section 3, Sub-section (i),vide number G.S.R-155-(E), dated the 1st March, 2011 and was last amended vide notification No.20/2012-Customs(N.T) dated the 17th March, 2012, published in the Gazette of India, Extraordinary,Part II, Section 3, Sub-section (i),vide number G.S.R-196-(E), dated the 17thMarch, 2012.
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