Regarding exemption from Service Tax by CG under Focus Product Scheme (FPS)

[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. 07/ 2013 - Service Tax

New Delhi, dated the 18^th April, 2013  

                        G.S.R..... (E). In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994)(hereinafter referred to as the said Act), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the taxable services provided or agreed to be provided against a scrip by a person located in the taxable territory from the whole of the service tax leviable thereon under section 66B of the said Act.

CG exempts Service Tax against the Focus Market Scheme duty credit scrip issued to an exporter

[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.06 / 2013 - Service Tax

 New Delhi, dated the 18^th April, 2013  

                        G.S.R..... (E). In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the said Act), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the taxable services provided or agreed to be provided against a scrip by a person located in the taxable territory from the whole of the service tax leviable thereon under section 66B of the said Act.

CG amends Notification No. 34/2006 dtd. 14-06-2006, 31/2012 and 33/2012 both dtd. 9-07-2012

G.S.R. 252 (E).- In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), read with sub-section (3) of section 3 of the Additional Duties of Excise (Goods of Special Importance) Act, 1957 (58 of 1957) and sub-section (3) of section 3 of the Additional Duties of Excise (Textiles and Textile Articles) Act, 1978 (40 of 1978), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following amendments in each of the notifications of the Government of India in the Ministry of Finance (Department of Revenue) specified in column (2) of the Table below, which shall be amended or further amended, as the case may be, in the manner as specified in the corresponding entry in column (3) of the said Table, namely :-

To read more Click Here.

CG exempts specified goods from Duties of Excise when cleared against a Post Export EPCG duty credit scrip

In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), read with sub-section (3) of section 3 of the Additional Duties of Excise (Goods of Special Importance) Act, 1957 (58 of 1957) and sub-section (3) of section 3 of the Additional Duties of Excise (Textiles and Textile Articles) Act, 1978 (40 of 1978), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the goods specified in the First Schedule and the Second Schedule to the Central Excise Tariff Act, 1985 (5 of 1986), when cleared against a Post Export EPCG duty credit scrip issued by the Regional Authority in accordance with paragraph 5.11 under Chapter 5 {Export Promotion Capital Goods (EPCG) Scheme} of the Foreign Trade Policy which provides for duty remission in proportion to export obligation fulfilled.

To read more Click Here.

CG amends Notification No. 91/2009-Customs, 94/2009-Customs, 98/2009-Customs all dtd 11-Sep-2009 and 104/2009-Customs dtd 14-Sep-2009

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in each of the notifications of the Government of India in the Ministry of Finance (Department of Revenue) specified in column (2) of the Table , which shall be amended or further amended, as the case may be, in the manner as specified in the corresponding entry.

To read more Click Here.

CG exempts goods when imported into India against a Post Export EPCG duty credit scrip which provides for duty remission in proportion to export obligation fulfilled

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts goods when imported into India against a Post Export EPCG duty credit scrip issued by the Regional Authority in accordance with paragraph 5.11 under Chapter 5 {Export Promotion Capital Goods (EPCG) Scheme} of the Foreign Trade Policy which provides for duty remission in proportion to export obligation fulfilled.

To read more Click Here.

CG exempts goods from the duty of customs thereon under the 1st Schedule and additional duty u/s 3 both of Customs Tariff Act

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts goods the whole of the duty of customs leviable thereon under the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), and (ii) the whole of the additional duty leviable thereon under section 3 of the said Customs Tariff Act, when specifically claimed by the importer.

To read more Click Here.

Intermediate (IPC) Exam May-2013 Change in Venue of Some Centres at Bangalore, Jaipur and Sikar

Announcement

18th April 2013.

Change in venue of the May 2013 CA examination in some centres at Bangalore, Jaipur and Sikar

Due to unavoidable circumstances, the venue of the May 2013 CA examination in respect of some of the examination centres at Bangalore, Jaipur and Sikar has been changed as follows:

Intermediate (IPC) Examination:

Invitation to Contribute Articles for The Chartered Accountant Journal of the ICAI

The EB has decided to specially focus on certain key topics besides other routine features in the forthcoming issues of The Chartered Accountant journal. As such, the expert authors in the respective fields are invited to send articles on the following focus issues for consideration of the Editorial Board. The list of themes:

June 2013 Tax Audit +Sustainability & Social Audit + Public Finance August 2013 Indian Accounting Standards converged with IFRSs September 2013 XBRL October 2013 Internal Audit + Forensic Accounting November 2013 LLP & Accountancy Profession December 2013 Professional Opportunities (new horizon) January 2014 Information Technology February 2014 Bank Audit + Government Accounting

The articles of not more than 3000 words (original and not having been published of hosted anywhere else) with executive summary and authors photographs should be sent at eboard@icai.org at the earliest. The authors are also required to give a declaration of originality along with the articles. The guidelines for authors have been hosted on ICAI website in Editorial Board Section on the link: http://icai.org/new_post.html?post_id=2556

ICAI - Revised Invitation of Expression of Interest (EOI) for Developing E-learning Modules on Ind AS.

April 18, 2013

Revised Invitation of Expression of Interest (EOI)

for Developing E-learning Modules on Ind AS

1. Preamble and Introduction

About Ind AS (IFRS) Implementation Committee

Ind AS (IFRS) Implementation Committee (hereinafter referred to as ‘Committee’) is a non-standing Committee constituted by the Institute of Chartered Accountants of India (hereinafter referred to as ‘ICAI’) to get the members and other stakeholders ready for proper implementation of IFRS-converged Indian Accounting Standards. This Committee takes adequate steps to provide guidance and to enhance the knowledge of the members and other stakeholders.

The Committee is planning to formulate E-leaning modules on Indian Accounting Standards (Ind AS).