In a major boost to Indo-Gulf trade and economic ties, India and the Gulf Cooperation Council (GCC) countries have decided to finalise the bilateral Free Trade Agreement (FTA) by early 2007. “We have also agreed to expand the scope to include Services and Investment, thus making it a Comprehensive Economic Cooperation Agreement instead of a [...]

[PTI] In a land mark move state Government of Maharashtra is offering a relief to exporters. Maharashtra Finance Minister Jayant Patil has assured that the refunds of the Value-Added Tax (VAT) to exporters in the State would start within four months. Notably, exporters, who have no liability under VAT, are supposed to apply for the [...]

HIGHLIGHTS OF THE BUDGET SPEECH OF SHRI JAYANT PATIL, FINANCE MINISTER OF MAHARASHTRA PRESENTED TO THE LEGISLATURE ON TUESDAY, THE 21ST MARCH 2006 PART I Economic Review of Maharashtra * Decrease in annual rate of inflation compared to last year. * Gross State Domestic Product is estimated to rise by 8.6 percent during the year [...]

Dear Members, It is being informed by SHRI SUNIL TALATI, Vice president of ICAI that for the following matter the ICAI making their representations at the appropriate level vigorously. You may see the statement of president at the home page of ICAI website www.icai.org. details of which is annexed herewith for your information and knowledge. [...]

Dear Professional Colleagues You all must now be aware that the Ministry of Finance has decided to allow Board of Directors of Public Sector Banks to directly appoint their statutory central auditors and branch auditors. Under the new system, banks would directly source names of the auditors from the panel of CAG for statutory central [...]

A unique modus operandi was used in the IPO scam in IDFC and Yes Bank in which an accused came out with an advertisement in local dailies asking public to click a photograph and also get two copies free of cost. The advertisement put out by Roopalben Nareshbhai Panchal, one of the main accused in [...]

Dear Friends, When I told my mom that I wanted a professional woman as my wife, she got me one; “a Chartered Accountant”. She uses LIFO method while taking out the refrigerated food. She thinks I am no good at figure work. Fine with me, for now she handles the budget of the house. Initially [...]

Toronto’s premier firm, Bennett Gold, Chartered Accountants have announced the launch of the CA/CPA WEBTRUST services in India. In over 17 countries across the globe, Chartered Accountants and their counterparts, the Certified Public Accountants came together and have offered to extend the range of their assurance services to the internet. With the efforts of Aurangabad [...]