EMPANELMENT - Panchayati Raj Engineering Department

Seeking Expression of interst from Chartered Accountant Firms to provide professionals support to gram pacnhayaths on maintenance of accounts in double Entry System in District

Address: Panchayati Raj Engineering Department,Mysore - Karnataka

EMPANELMENT - Gujarat Water Resources Development Co Limited

Firms of Chartered Accountants fulfilling the pre-qualification criteria for Assignment of the pre-audit of bills of the work for year 2013-14

Address: Gujarat Water Resocurces Development Corporation Ltd. Government Of Gujarat Undertaking Sector 10-A Gandhinagar 382043
Phone: 079-23220402
Email: md-gwrdc@gujarat.gov.in

EMPALENMENT - ZILLA PANCHAYATH, HASSAN

ZILLA PANCHAYATH, HASSAN

Hassan District

Tel:08172 267402, Fax:08172 267402  Website:ceo_zp_hsn@nic.in

EXPRESSION OF INTEREST

( Through E-Procurement Portal only)

Notification No:19/2012-13                                                                                Date:14-02-2013   

   Seeking expression of Interest (EOI) from Chartered Accountant Firms to provide professionals support to Gram Panchayats on maintenance of accounts in Double Entry System.

Government of Karnataka has brought in a change in the Gram Panchayat Accounting System by enacting the rules viz, the Karnataka Panchayats Raj (Gram Panchayats Budgeting and Accounting) Rules 2006 with effect from 1^st April 2007. These rules mainly focus on the Accrual System of Accounting. The GPs have to maintain their accounts in Double Entry System. Since, there is a need to build the capacity of the GPs for maintaining accounts as per the new Rules, it is envisaged to take the support of the accounting professionals for various interventions in this regard.

Expression of Interest is invited through E- Procurement Portal from the Chartered Accountant Firms/individuals currently empanelled with CAG to provide Professional support to Gram Panchayats on maintenance of accounts manually and on the Panchatantra portal.

The appointment of firm shall be for a particular Taluk/Taluks in the District. They shall remain fully responsible for the work carried out by the professional staff provided by them.

Interested firms should submit Expression of Interest (EoI) giving details of;

·          Firm’s structure (no. of locations of branches, No. of partners/qualified staff/other staff, office location etc.) along with the copy of the Registration.

·         Related experience in the respective fields viz.,(i) Fund Management, Accrual System of accounting, working experience in Govt. Organizations and Local Bodies

·         Financial position (details of the Financial Turnover of the last three years with relevant records) and Clientele list.

After evaluation of EOIs on receipt, short listed organizations will be intimated in due course to submit their technical and financial proposals for final selection.

            The Interested firms/individuals may visit and download further details from http://eproc.karnataka.gov.in.

Completed EOIs should be uploaded by 17.00 hrs on 2^ndMarch 2013 using the E-Procurement Portal. For any clarifications the Chief Accounts Officer (CAO) of the Zilla Panchayat may be contacted.

                                                                                                                    -Sd-

                                                                                                     Chief Executive Officer,

                                                                                                     Zilla Panchayath,Hassan.                                                                                                     

                                                                                                              Hassan District.

Budget may look into ‘inverted’ duty structure in select sectors

The Finance Ministry is likely to address in the Budget the inverted duty structure existing in certain sectors such as marine products, chemicals and solar components. However, intervention may be limited to sectors where farm goods are not involved. In an inverted duty structure the duty on raw materials is higher than the duty on the finished goods. Such a situation makes the domestic manufacturing industry less competitive.With the manufacturing sector contracting by 0.7 per cent in December, such a move is imperative. Overall industrial production registered a growth of just 0.7 per cent in December. The Commerce Department has submitted a list of products for the Finance Ministry’s consideration where import duty on inputs is higher than that on finished goods and need to be brought down. A number of such items are, however, agricultural and are politically sensitive.

Sebi set to overhaul insider trading rules; to form a committee led by former SAT chief

The Securities and Exchange Board of India (Sebi) will carry out a comprehensive review of rules seeking to punish insider trading - the first such exercise in a decade - in order to align them with global practices.The rewriting of India's insider trading regulations will involve professionals such as investment bankers and securities market lawyers, who will be part of a committee to be headed by NK Sodhi. Sodhi till recently headed the Securities Appellate Tribunal, or SAT, a forum to appeal against the rulings of the regulator.Two people familiar with the proposal said a total revamp was on the cards, similar to the comprehensive changes in the takeover code carried out last year. Darius Khambata, advocate general, Maharashtra, will also be a member of the committee, they said. The committee will be announced soon, maybe as early as next week.

Sumit Dutt Majumder: GST: Breakthrough, but bumpy road ahead

Further, the idea of a Dispute Settlement Authority (DSA) would be shelved now. The GST Council would be empowered to decide about disputes. However, it would be difficult for the GST Council to handle the inter-state or Centre-state disputes on GST, which in course of time, are likely to increase exponentially. The Council would have to set up a forum for resolving such disputes. Further, the Centre has agreed to set a floor rate for the tax with a narrow band within which the States will retain the right to vary the Sate GST (SGST). Different SGST rates at different states will complicate input tax credit scheme, and it might also encourage cross-shopping. True, more than 50% of the countries administering VAT/GST, including countries in European Union do have multiple rates. But they are also facing difficulty, the worst case being that of Brazil. If we opt for multiple rates of SGST in different states, the scheme of Integrated GST (IGST) for inter-state movement of goods will have to be reworked carefully.

HP Agrawal: Is royalty paid by a non-resident to another taxable in India?

The issue for consideration is as to whether the royalty paid by the foreign manufacturers on manufacturing of the goods outside India could also be taxed in India if such goods are sold in India. In terms of section 9(1)(vi)(c), royalty payable by a non-resident, where the royalty is payable in respect of any right, property or information used or services utilised for the purposes of a business or profession carried on by such person in India, is taxable in India because such royalty is treated as ‘deemed’ to accrue or arise in India in the hands of recipient of royalty.In an interesting recent case (ITA - 3700/D/2009), a US Company granted a non-exclusive and non-transferable worldwide license of its patents developed on CDMA technology to wireless Original Equipment Manufacturers (‘the OEMs’) outside India to make, import, use and sell CDMA handsets and wireless equipment (the ‘Products’) anywhere in the world. In consideration for the grant of licence, the US Company charged a royalty from OEMs.

Source : Business Standard

Share valuation: Foreign investors step into taxing times

Developments in the Indian tax landscape over the last couple of years are sure to leave anyone confused. While the Vodafone ruling brought cheer to investors, the subsequent retrospective amendment and tax authorities’ insistence on recovering demand created a huge furore. However, the Shome Committee’s report and assurances by the Prime Minister and Finance Minister signalled steps towards restoring investor confidence.Another measure was the introduction of the Advance Pricing Agreement (APA) regime for transfer pricing issues. The tax authorities’ positive and open approach vis-à-vis APAs has encouraged taxpayers to explore this route. However, there follows a reality check, challenging the optimistic outlook towards tax policy and the general investment climate.

Taxman sees moolah in brand promotion

The tax department has been zealously taking up the aspect of marketing intangibles. As a result, many taxpayers have witnessed large adjustments over the years on the basis that advertisement, marketing and promotion (AMP) expenditure was outside permissible arm’s length. The common questions raised include: Whether the promotional efforts of an Indian entity (licensee of trademark) enhance the value of the trademark legally owned by an associated enterprise? Whether the associated enterprise should compensate the Indian entity for the excessive AMP expenditure? Given the importance of this issue, and the possibility of conflicting views from different benches, the questions were referred to a Special Bench of the Income Tax Appellate Tribunal, which recently gave its verdict.

Source : The Hindu Businessline

Notification No. 16/2013 – Customs (N. T.)

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION-3, SUB-SECTION (ii)]

Government of India

Ministry of Finance

(Department of Revenue)

(Central Board of Excise and Customs)

Notification No. 16/2013 – Customs (N. T.)

New Delhi,  31^st January, 2013

11 Magha, 1934 (SAKA)

S.O. ____ (E).– In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs (N.T.), dated the 3^rd August, 2001, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S. O. 748 (E), dated the 3^rd August, 2001, namely:-

In the said notification, for TABLE-1 and TABLE-2, the following Tables shall be substituted namely:-

“TABLE-1

S. No.	Chapter/ heading/ sub-heading/tariff item	Description of goods	Tariff value US $ (Per Metric Tonne)
(1)	(2)	(3)	(4)
1	1511 10 00	Crude Palm Oil	815
2	1511 90 10	RBD Palm Oil	860
3	1511 90 90	Others – Palm Oil	838
4	1511 10 00	Crude Palmolein	867
5	1511 90 20	RBD Palmolein	870
6	1511 90 90	Others – Palmolein	869
7	1507 10 00	Crude Soyabean Oil	1219
8	7404 00 22	Brass Scrap (all grades)	4077
9	1207 91 00	Poppy seeds	4395

TABLE-2

S. No.	Chapter/ heading/ sub-heading/tariff item	Description of goods	Tariff value (US $)
(1)	(2)	(3)	(4)
1	71 or 98	Gold, in any form, in respect of which the benefit of entries at serial number 321 and 323 of the Notification No. 12/2012-Customs dated 17.03.2012 is availed	545 per 10 grams
2	71 or 98	Silver, in any form, in respect of which the benefit of entries at serial number 322 and 324 of the Notification No. 12/2012-Customs dated 17.03.2012 is availed	1018 per kilogram

[F. No. 467/01/2013-Cus.-V]

(AbhinavGupta)

Under Secretary to the Government of India

Note:- The principal notification was published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide Notification No. 36/2001–Customs (N.T.), dated the 3^rd August, 2001, vide number S. O. 748 (E), dated the 3^rdAugust, 2001 and was last amended vide Notification No.  08 /2013-Customs (N.T.), dated the 23^rd January, 2013, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S. O. 240 (E) Dated, the 23^rd January, 2013.

Notification No. 19/2013 – Customs (N.T.)

[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. 19/2013 – Customs (N.T.)

New Delhi, the 6^th February, 2013.

              .

            G.S.R._______(E) - In  exercise of the powers conferred by sub-section (2) of section 146 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby makes the following regulations, further to amend the Customs House Agents Licensing Regulations, 2004, namely:-

      1.   (1) These regulations may be called the Customs House Agents Licensing (Amendment) Regulations, 2013.

            (2) They shall come into force on the date of their publication in the Official Gazette.

      2.   In the Customs House Agents Licensing Regulations, 2004, in regulation 8, sub-regulation (9) shall be omitted;

 [F. No. 494/4/2012-Cus.VI]

(S.C.Ganger)

Under Secretary to the Government of India

Note: The principal Notification No.21/2004-Customs (N.T.), dated the 23^rd February, 2004 was published in the Gazette of India vide G.S.R. 132 (E), dated the 23^rdFebruary, 2004 and was last amendment vide notification No. 105/2012-Customs (N.T.), dated the 16^th November, 2012, published in the Gazette of India, Extraordinary Part II, Section 3, Sub-section (i), vide number G.S.R. 829(E), dated the 16^th November, 2012.