CA Final SFM paper to be held on 17th November 2017 in Chennai

  Paper 2, Strategic Financial Management of Final Examination, Group – I scheduled on 3rd November 2017 (Friday) at Chennai only, was postponed, on account of heavy rains and disruption of normal life there. The said examination will now be held 17th November 2017 (Friday). Important Announcement 8th November 2017 For the attention of Candidates of CA Final Examination – November 2017 held at Chennai.  Paper 2, Strategic Financial Management of Final Examination, Group – I scheduled on 3rd November 2017 (Friday) at Chennai only, was postponed, on account of heavy rains and disruption of normal life there. It is hereby informed that the said postponed examination will now be held on 17th November 2017 (Friday). Timings of the postponed examination at Chennai will remain the same i.e. 2 P.M.

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Directions on Managing Risks and Code of Conduct in Outsourcing of Financial Services by NBFCs

  RBI/2017-18/87 DNBR.PD.CC.No.090/03.10.001/2017-18 November 09, 2017 To All Non-Banking Financial Companies (NBFCs), Madam/ Sir, Directions on Managing Risks and Code of Conduct in Outsourcing of Financial Services by NBFCs In exercise of the powers conferred under Section 45 L of the Reserve Bank of India Act, 1934, the Reserve Bank of India after being satisfied that it is necessary and expedient in the public interest so to do and with a view to put in place necessary safeguards applicable to outsourcing of activities by NBFCs, hereby issues the Directions as set out in the Annex. 2. NBFCs are advised to conduct a self-assessment of their existing outsourcing arrangements and bring these in line with the aforesaid Directions within two months from the date of this circular. 3. The Non-Banking Financial Company – Systemically

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Exchange Rates Notification No.107/2017-Custom(NT) dated 09.11.2017

  GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF EXCISE AND CUSTOMS) Notification No.107/2017 – Customs (N.T.) Dated the 9th November, 2017 18 Kartika, 1939 (SAKA) In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs hereby makes the following amendments in the Notification of the Central Board of Excise and Customs No.106/2017-CUSTOMS (N.T.), dated 8th November, 2017, with effect from 10th November, 2017, namely:- In the SCHEDULE-I of the said Notification for serial No.12 and the entries relating thereto, the following shall be substituted, namely DOWNLOAD/READ SCHEDULES

Custom duty on wheat and peas increased

  Seek to (i) increase rate of basic customs duty on Peas, (Pisum sativum) from present Nil rate to 50%. (ii) increase rate of basic customs duty on wheat from 10% to 20%. [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. 84 /2017-Customs New Delhi, the 8th November, 2017 G.S.R. (E).- 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 the notification of the Government of India, Ministry of Finance (Department of Revenue), No. 50/2017-Customs, dated the 30th

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Clarification on Indirect Transfer provisions in case of redemption of share or interest outside India under the Income-tax Act, 1961

  Circular No.28/2017 F.No.500/10/2017-FT&TR-IV Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Dated, the 7th of November, 2017. Sub: Clarification on Indirect Transfer provisions in case of redemption of share or interest outside India under the Income-tax Act, 1961 Under the provisions contained in section 9(1 )(i) of the Income-tax Act, 1961 (‘Act’), all income accruing or arising, whether directly or indirectly, through or from any business connection in India, or through or from any property in India, or through or from any asset or source of income in India or through the transfer of a capital asset situate in India, shall be deemed to accrue or arise in India. Explanations 5, 6 and 7 of section 9(1 )(i) further define the scope of

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Observations of the candidates on the question papers of CA examinations November, 2017

  1 st November 2017 Observations of the candidates on the question papers of CA examinationsNovember, 2017 It is hereby informed that candidates can bring to the notice of the Examination Department, their observations, if any, on the question papers relating to CA Examinations being held in November 2017, by e-mail at examfeedback@icai.in or by way of a letter, sent by Speed Post, at the following address, so as to reach us latest by 23rd November 2017. Please note that only those observations of students will be taken up for consideration who provide their following details i.e.; Name of the Student, Registration Number, Roll Number, email-id and Mobile Number. The Joint Secretary (Exams) The Institute of Chartered Accountants of India ICAI Bhawan Indraprastha Marg New Delhi 110 002. ICAI EXAMINATION

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Group to Review the Criteria for Formation of Branch

  No.M-626/2017 6th November, 2017 ALL MEMBERS OF THE COUNCIL Madam/Dear Sir, The President, in terms of the authority given to him by the Council at its 363rd meeting held on 12th February, 2017, has constituted a Group to review the criteria for formation of Branch comprising of the following members:- Mukesh Singh Kushwah (Convenor) Vijay Kumar Gupta Vijay Kumar Jhalani M.P.Vijay Kumar Sushil Kumar Goyal Dhiraj Kumar Khandelwal Mangesh P. Kinare The Terms of Reference of the Group will be as follows: – To review the criterion for formation of branch e.g. increase in present membership strength prescribed, area/jurisdiction (increase from present 50 km), consideration of number of members voting (to estimate members stationed in the branch), etc; To examine the current branch financials from the perspective of viability

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Due date for generation of FORM GSTR-2A and FORM GSTR-1A in accordance with the extension of due date for filing FORM GSTR-1 and FORM GSTR-2 respectively

  Circular No.15 /15/2017 – GST F.No. 349/164/2017-GST Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs GST Policy Wing New Delhi, Dated the 6th November, 2017 To, The Principal Chief Commissioners / Chief Commissioners / Principal Commissioners / Commissioners of Central Tax (All) The Principal Director Generals / Director Generals (All) Madam/Sir, Sub –Due date for generation of FORM GSTR-2A and FORM GSTR-1A in accordance with the extension of due date for filing FORM GSTR-1 and GSTR-2 respectively – reg. Please refer to Notification No. 30/2017-Central Tax dated 11th September 2017, and Notification 54/2017-Central Tax, dated 30th October, 2017 whereby the dates for filing FORM GSTR-1, FORM GSTR-2 and FORM GSTR-3 for the month of July, 2017 were extended. Queries have been received

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Procedure regarding procurement of supplies of goods from DTA by (EOU)/(EHTP Unit /STP Unit/BTP Unit

  Circular No. 14/14 /2017 – GST F. No. 349/21/2016 GST (Policy Wing) Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs GST Policy Wing New Delhi, dated the 6th November, 2017 To, The Principal Chief Commissioners / Chief Commissioners / Principal Commissioners / Commissioners of Central Tax (All) The Principal Director Generals / Director Generals (All) Madam/Sir, Sub – Procedure regarding procurement of supplies of goods from DTA by Export Oriented Unit (EOU) / Electronic Hardware Technology Park (EHTP) Unit / Software Technology Park (STP) Unit / Bio-Technology Parks (BTP) Unit under deemed export benefits under section 147 of CGST Act, 2017 – reg. In accordance with the decisions taken by the GST Council in its 22nd meeting held on 06.10.2017 at New

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Exchange Rates Notification No.105/2017-Custom(NT) dated 7.11.2017

  GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF EXCISE AND CUSTOMS) Notification No.105/2017 – Customs (N.T.) Dated the 7th November, 2017 16 Kartika, 1939 (SAKA) In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs hereby makes the following amendments in the Notification of the Central Board of Excise and Customs No.104/2017-CUSTOMS (N.T.), dated 6th November, 2017, with effect from 8th November, 2017, namely:- In the SCHEDULE-I of the said Notification for serial No.12 and the entries relating thereto, the following shall be substituted, namely SCHEDULE-I DOWNLOAD/READ FULL NOTIFICATION