Updates from F4F

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• Engagements and Quality Control Standards (Auditing) for May, 2010 Examinations
• FM: Food Article Prices have gone up Resulting spurt in Inflation
• Cost Accounting Standards to be Increased
• Withdrawal of Hill State Tax benefits will Hit FMCG Firms
• Asim Dasgupta: GST will have four slabs Rates to be released within 15 days
• GST Objective to Moderate the Tax Rates
• Trade unions Rejects EET of Savings, PF Withdrawals
• Industry Government gearing up for Celebrating Country's first 'Corporate Week'
• Direct Tax Code to be Reviewed by PM for Guidance
• Private Foreign Banks will observe an All-India Strike on December 16
• NCDRC: Appointment of Subsequent Surveyors is "Not Bad in Law"
• Planning Commission Drafting Reforms for NREGA

Engagements and Quality Control Standards (Auditing) for May, 2010 Examinations Posted: The following list contains the details of the Engagements and Quality Control Standards (Auditing).  For the purpose of May, 2010 examinations the students are advised to refer to the Engagements and Quality Control Standards. The details of the Engagements and Quality Control Standards (Auditing) with full text are being hosted for ... (This is a just a summary, read the full article at www.forum4finance.com)

FM: Food Article Prices have gone up Resulting spurt in Inflation Posted: Finance Minister Pranab Mukherjee attributed the 4.78 per cent spurt in inflation in November to rising prices of food articles. "Inflation has risen high mainly because of the food article prices have gone up," Mukherjee told reporters. The inflation, according to the monthly data released today, has shot up from 1.34 ... (This is a just a summary, read the full article at www.forum4finance.com)

Cost Accounting Standards to be Increased Posted: Issue of Cost Accounting Standards (CAS) is a pioneering initiative by the Institute of Cost and Works Accountants of India. The first CAS (CAS-1) was issued by the institute in the year 2002. The Preface to Cost Accounting Standards issued by the institute has set out the following objectives to ... (This is a just a summary, read the full article at www.forum4finance.com)

Withdrawal of Hill State Tax benefits will Hit FMCG Firms Posted: The latest GST move is why the Tax Holiday notifications are being sought to be ended by March 2010. The move is likely to affect the bottom-line of, and discourage investments from, fast moving consumer goods (FMCG) and consumer durables companies that have set up units there to take advantage of ... (This is a just a summary, read the full article at www.forum4finance.com)

Asim Dasgupta: GST will have four slabs Rates to be released within 15 days Posted: The Goods and Services Tax (GST), the new tax regime, would have four slabs and these were likely to be unveiled within 15 days, Chairman of the Empowered Committee of State Finance Ministers Asim Dasgupta said today. "It (GST) will have four slabs. I hope the rates will be released in ... (This is a just a summary, read the full article at www.forum4finance.com)

GST Objective to Moderate the Tax Rates Posted: The First Discussion Paper ('Paper') on the Goods and Services Tax ('GST') in India was released on November 10, 2009. As stated therein, the objectives of the dual GST are to broaden the tax base, to remove the present problem of tax cascading, to move to a common tax base ... (This is a just a summary, read the full article at www.forum4finance.com)

Trade unions Rejects EET of Savings, PF Withdrawals Posted: Trade unions have asked the government to shelve the proposal in the draft Direct Tax Code to tax all savings and provident fund schemes at the time of withdrawal, saying the move would hit the salaried class hard. "These efforts of (bringing PF withdrawals under Income Tax purview) shall adversely hit ... (This is a just a summary, read the full article at www.forum4finance.com)

Industry Government gearing up for Celebrating Country's first 'Corporate Week' Posted: Beginning today, all letters posted by the Institute of Cost and Works Accountants of India (ICWAI) this week will carry a special sticker that 'celebrates corporate week' on its envelopes. Similarly, all hoardings that will come up on the premises of ICWAI's 95 regional councils and chapters across the country ... (This is a just a summary, read the full article at www.forum4finance.com)

Direct Tax Code to be Reviewed by PM for Guidance Posted: The finance ministry has scheduled a meeting with Prime Minister Manmohan Singh on January 5 to seek his guidance on the final draft of the Direct Tax Code that will be finalised by the end of December. His views on the Code will be reflected in the tax proposals of ... (This is a just a summary, read the full article at www.forum4finance.com)

Private Foreign Banks will observe an All-India Strike on December 16 Posted: Bank employees are planning to go on strike on December 16 during the Parliament Session against banking sector reforms such as privatisation of Public Sector Banks (PSBs) and closure and merger of associate banks / other PSBs with State Bank of India. All India Bank Employees Association and the All India ... (This is a just a summary, read the full article at www.forum4finance.com)

NCDRC: Appointment of Subsequent Surveyors is "Not Bad in Law" Posted: The National Consumer Disputes Redressal Commission (NCDRC) has held that the appointment of subsequent surveyors by an insurance company is "not bad in law" as the report made by him is an important piece of evidence while assessing the claim. "Findings recorded by the Bihar State Commission that the appointment of ... (This is a just a summary, read the full article at www.forum4finance.com)

Planning Commission Drafting Reforms for NREGA Posted: India's apex planning body is drawing up a set of proposed reforms for the country's flagship rural job guarantee programme, primarily to address issues related to spending and implementation. The changes proposed under the National Rural Employment Guarantee Act (NREGA) will be sent to Prime Minister Manmohan Singh by the ... (This is a just a summary, read the full article at www.forum4finance.com)

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