E-payment facility at Customs locations was introduced in 2007 and is available through more than one authorized bank at all major Customs locations having ICES facility. Though voluntary, the facility has been used by numerous importers. Besides
In order to find out the quantum of black money parked by Indians in the country and abroad and to recommend ways to deal with the problem of black money Government had entrusted this work to three institutions in March, 2011. The names of the i
The Government has approved a proposal to set up an IT platform to integrate Central and State indirect tax regime in the context of implementation of Goods and Services Tax (GST) in the context of implementation requires a strong IT Infrastructur
India signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (Multilateral Convention) on 26th January, 2012 and ratified it as on 2nd February, 2012. The Multilateral Convention has come in to effect for India on 1s
The Government is aware that violation of accounting principles and financial irregularities are being carried out by various companies and their audit firms. During the last three years, 316 companies and 73 audit firms were found guilty of viola
A number of complaints are received by the Government against companies involved in misuse of public issue funds relates to misuse by way of diversion of funds, non-fulfillment of terms and conditions for the completion of the projects as per the
The Institute of Charted Accounts of India (ICAI) has not constituted any high powered committee to look into the entire gamut of financial reporting etc. Out of the 171 Indian Chartered Accountant (CA) Firms who have reported to the High Powere
The Institute has recently announced Direct Entry Scheme for admission to Intermediate (IPC) course for graduates/post graduates with specified marks and Intermediate level passed students of the Institute of Company Secretaries of India and the I
As per the 55th Annual Report on the working and administration of the Companies Act 1956 for the year ended March 2011, the number of foreign companies has increased from 2609 as on 31.3.2008 to 3127 as on 31.3.2011. There has been consistent inc
The Directorate of Revenue Intelligence (DRI) has conducted raids during the last three years and the current years. The mandate of the DRI is to investigate offences under the Customs Act, 1962 and the NDPS Act, 1985. The Directorate of has dete
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