FICCI Secretary General Amit Mitra resigns

Amit Mitra, who is tipped to become the next Finance Minister of West Bengal in the Trinamool Congress-led government, has resigned as Ficci Secretary General. Mitra, 63, emerged as a 'giant killer' by defeating CPI(M) veteran and state Finance Minister Asim Dasgupta by a big margin from the Khardah Assembly constituency. His resignation has been… Read More


SEZs require sanction of Unit Approval Committee for service tax refund

The government today said that SEZ unit and developers would require the sanction of Unit Approval Committee for availing benefits of service tax refund. Besides, developers and units would also have to furnish original invoices for claiming benefits, the Department of Revenue said in a circular. SEZ units and developers are exempted from service tax.… Read More

Tag: service tax refund

Damages due to Defamation and Wrong Doings of Excise Deptt.

Recently one of our acquaintances faced a serious problem due to collusion between his past rival, a Media Moghal  who used a higher official of Excise Deptt to act against the said person. They used print media to defame him. He had lot of activities among public and social sector. The plan was to arrest… Read More

Clarifications regarding Service Tax Refund in SEZ

Circular No.142/11/2011 - ST F. No.354 /30 /2011-TRU Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs Tax Research Unit North Block, New Delhi 18th May 2011   To   Chief Commissioners of Central Excise and Service Tax (All), Director General (Service Tax), Director General (Central Excise Intelligence), Director… Read More

Tag: service tax refund

Improving Justice Delivery through e-Courts – Dream Project underway

Meeting of Consultative Committee on Law & Justice - Discussions on E-Courts, Justice Delivery System, Law Commission Report The Parliamentary Consultative Committee meeting of Ministry of Law and Justice was held under the chairmanship of Shri M Veerappa Moily, Minister for Law and Justice on 16 May 2011 in New Delhi.  The meeting was attended by Members of… Read More

Tag: eCourts

SEZ Exports in 2010-11 grow by 43%

Total Employment Generated from SEZ 6,76,608 People The Minister of State for Commerce Shri Jyotiraditya M. Scindia presented the EPCES Export Awards to EOUs and SEZ Units for Outstanding Export Performance for 2008-09, here today. Speaking on the occasion Shri Scindia said, The exports from SEZs during 2010-11 is to the tune of Rs.3, 15,867… Read More

Tag: SEZ

Need for a Checklist for Directors’s Job Profile

Ahead of the new Companies Act, a seminar on ' Strategies of protecting Directors' had been initiated by CII in association with Raheja QBE Genral Insurance Company Ltd. and WIRC of ICAI to focus on having a checklist for professional directors which will be used as a standard yardstick by directors of various companies as the Companies Act is touted… Read More

Issuance of TDS Certificate in Form 16A downloaded from the TIN Website

CIRCULAR NO 03/2011, Dated: May 13, 2011 CLR Note: Form No. 16A for Issuance of TDS Certificates can be downloaded from TIN Website, a facility initiated to eliminate the mismatch in figures provided  in form no. 26AS and form no. 16A and along with it the option to authenticate the same by way of digital signature… Read More

Tag: Issuance of Form 16 certificates

Workshop on Limited Liability Partnerships- A New Business Model

The growing Indian economy has acknowledged, appreciated the role played by the entrepreneurs as well as by the technical and professional manpower. It is felt oppurtune that entrepreneirship, knowledge and risk capital combine to provide a further impetus to India's economic growth.In this background a need has been felt for a new corporate form that would provide an alternative… Read More

Tags: Limited Liability PartnershipsLLP

National seminar on XBRL by ICSI – An emerging professional oppurtunity

ICSI is organising a national seminar on XBRL -An Emerging Professional Oppurtunity wherein the topic of discussion will be on the overview of XBRL; applications, adoption & Indian regulatory requirements; taxonomy and instance reporting; tools & report creation. This seminar will be evidencing the honourable presence of Mr. D.K. Mittal, the Secretary to Government of India, MCA… Read More

Tag: xbrl

Guidelines on Mergers and Acquisitions to benefit Consumers – CCI

Competition Commission of  India (CCI)  has commented that its recent guidelines on corporate mergers and acquisitions will not create any hindrance in such deals, but is aimed at avoiding the formation of  monopolies, for the benefit of consumers. "CCI's regulations are not there to create obstruction, but we will take a practical approach. We are… Read More

Tag: Competition Commission

SEBI plans to have a Call Centre for handling Investor Complaints

Market regulator Sebi, which receives well over 100 investor complaints a day, plans to initially have about 10 agents at its proposed call centre to be managed by an outside agency to redress such grievances. "It is estimated that the helpline services would require 10 persons initially to provide the nation wide helpline service to… Read More

Foreign Companies to pay Tax on all Revenue from Seismic Data contracts

Foreign firms operating in the country will have to pay tax at the existing rate of 4.223 per cent on revenue earned under seismic data acquisition and processing contracts, says a tribunal. In a ruling, the Authority of Advanced Rulings (AAR) held that foreign firms would not enjoy any leeway even if their income falls… Read More

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