ICSI Signs MOU with the National Skill Development Corporation to equip over 1,00,000 CS students on GST 

  PRESS RELEASE ICSI Signs MOU with the National Skill Development Corporation to equip over 1,00,000 CS students and public at large on GST The Institute of Company Secretaries of India together with National Skills Development Corporation will train over One Lakh CS students, ICSI stakeholders and public at large as “GST Account Assistants”. Prime Minister, Narendra Modi, while inaugurating the ICSI’s Golden Jubilee Year Celebrations on 4th October, 2017 at Vigyan Bhawan emphasised on the role of Company Secretaries in promoting and maintaining compliance and transparency in the Corporate sector. He desired that the institute and its stakeholders help in spreading awareness about the benefits of GST and taking it across the length and breadth of the country and provide their services as professionals who can cater to GST

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ICSI Members facilitated to avail infrastructural facilities at the Overseas Centres-MoU entered into with Institute of Cost Accountants of India 

  October 10, 2017 Dear Members, Sub: The Institute of Company Secretaries of India members facilitated to avail infrastructural facilities at the Overseas Centres – MoU entered into with Institute of Cost Accountants of India It give me immense pleasure to inform you that the Institute of Company Secretaries of India has recently entered into a Memorandum of Understanding [MoU] with the Institute of Cost Accountants of India. In terms of the said MoU, the Institute of Company Secretaries of India and its members may avail the infrastructural facilities of Overseas Centres of the Institute of Cost Accountants of India at Bahrain, Botswana, Canada, Dubai, Kathmandu, Muscat, Tanzania, Washington, and Zambia. The MoUs also provides for participation of the members of the Institute of Company Secretaries of India in the

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Report of the SEBI Committee on Corporate Governance : ICSI

  5th October, 2017 Dear Professional Colleagues, Subject: Report of the SEBI Committee on Corporate Governance The Institute of Company Secretaries of India set its foot into its Golden Jubilee Year on 4th October, 2017 in the august presence of Shri Narendra Modi, Hon’ble Prime Minister of India. The celebration was marked by his appreciation of the role of ICSI recommendations in strengthening the corporate governance framework of the nation. Another feather was added today in the cap of the Institute when the report of SEBI Committee on Corporate Governance was submitted to SEBI. The SEBI Committee on corporate governance was constituted on June 2, 2017 under the Chairmanship of Mr. Uday Kotak with the aim of improving standards of corporate governance of listed companies in India. ICSI represented in

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Goods and Service Tax by ICSI

  PD&PP : GST: 04S/2017 June 02, 2017 Understanding Schedule II (Part – I) In the previous issue we discussed about the activities which are to be considered as supply of goods or supply of services even if they are without a consideration, but are done in the course or furtherance of business. Schedule II of the Central Goods & Services Tax Act, 2017 lists activities which are to be treated as supply of goods and supply of services. In this issue, activities which form supply of goods are discussed. The next issue will cover the list of activities to be treated as supply of services, as enumerated in Schedule II. Activities to be treated as supply of goods Form of supply Description Transfer Transfer of title in goods Transfer

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ICSI FinanCS Edition 13

  Dear Professional Colleagues The world at large recognizes the fact that the Institute of Company Secretaries of India has treaded flawlessly on the path of progress, undeterred by impediments and hindrances that came in its way. Since 1980, every year, ICSI has taken up various initiatives that have cast an everlasting impact towards enhancing the reputation of the profession. The recent regulatory prescriptions have recognized the pivotal role that company secretaries can play in ensuring the compliance of the law in true letter and spirit. There is a plethora of opportunities for the profession of Company Secretaries and we need to develop our capacities by garnering knowledge and latest information from multifarious sources. This responsibility is exclusively on us, at the ICSI. In this direction, the Institute strongly felt

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Goods and Service Tax : Education Series by ICSI

  GST: 03/2017 June 01, 2017 Understanding Schedule I Schedule I lists activities that are to be treated as supply even if they are without a consideration. The important point to note here is that though the following activities will be considered as supply even if there is no consideration involved, it is required that the activity is done in the course or furtherance of business. The forms of Supply listed in Schedule I are as follows: Permanent transfer or disposal of business assets where input tax credit (ITC) has been availed on such assets. When ITC is availed on a particular asset and the asset is disposed off or transferred permanently without a consideration, it will be considered as supply and attract GST. Example : Suppose, if XYZ Ltd.

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Goods and Service Tax 30 may 1st issue by ICSI

  GST: 01/2017 May 30, 2017 Understanding Basics of GST Single tax rate for a product or service in any part of the country (except J&K) The following 17 different indirect taxes will be subsumed under GST Central taxes State taxes 1. Central Excise Duty; 2. Duties of Excise (Medicinal and Toilet Preparations); 3. Additional Duties of Excise (Goods of Special Importance); 4. Additional Duties of Excise (Textiles and Textile Products); 5. Additional Duties of Customs (commonly known as CVD); 6. Special Additional Duty of Customs (SAD); 7. Service Tax; 8. Cesses and surcharges insofar as they relate to supply of goods or services. 9. State VAT; 10. Central Sales Tax; 11. Purchase Tax; 12. Luxury Tax; 13. Entry Tax (All forms); 14. Entertainment Tax (except those levied by the

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ICSI ADVISORY FOR THE MEMBERS AND STUDENTS

  ICSI:2017/Advs./2 May 20, 2017 ADVISORY FOR THE MEMBERS AND STUDENTS 1. Of late certain instances have come to the notice where a few members of the Institute and/or students have shared and/or posted material on social media without first ascertaining the veracity thereof. There have been occasions when the material shared/posted is found not only factually incorrect and misleading but has also the potential of damaging the reputation of the Institute, its members and other stake holders. Such recourse by the above members and/or students, being disdainful, ought to have been best avoided. 2. No doubt, the members of the Institute and/or the students being its stakeholders, can and should, share their concern, if any, but the same needs to be done in a manner befitting the image and

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ICSI revises membership fee w.e.f. 1st April, 2017-Notification + FAQs

  NOTIFICATION ICSI/05/May/2017 The Institute of Company Secretaries of India 1. The Council of the ICSI in its 236th meeting held on 29- 30th March, 2016 had revised various membership fee w.e.f. 1st April, 2017 as under- Particulars ACS FCS Fee (upto 31st March, 2017 Revised fee (w.e.f. 1st April, 2017) Fee (upto 31st March, 2017 Revised fee (w.e.f. 1st April, 2017) Annual membership fee Rs. 1125 Rs. 2500 Rs. 1500 Rs. 3000 Entrance fee Rs. 1500 Rs. 2000 Rs. 1000 Rs. 2000 Restoration fee Rs. 250 Rs. 250 (No change) Rs. 250 Rs. 250 (No change) Certificate of Practice fee Rs. 1000 Rs. 2000 Rs. 1000 Rs. 2000 2. The announcement in this regard was notified in the Chartered Secretary Journal in July, 2016 and subsequent issues; and also

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ICSI FINANCS

  The quadragenarian profession of company secretaries has earned several acclamations and recognitions over the years. The Institute makes continuous efforts to stride across professional discipline, gaze upon the efficacy and opportunities bestowed by current economic and legislative scenario, and we have made significant progress especially in Companies Act and related aspects. Transformation shall, however, attune to success only when there is an all pervasive and broad-based role of a company secretary in other sectors too, one of the most prominent being Financial Services space. Be it banking, insurance, foreign exchange matters or securities law and capital markets, much needs to be achieved to tap opportunities and bring laurels to our Profession. Much has been talked about financial services for quite long, now it’s time to raise identified agenda with

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