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-NEWSLETTERBARODA BRANCH OF WESTERN INDIA REGIONAL COUNCIL OF
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
Volume - III | April 2017
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
MANAGING COMMITTEE
EDITORIAL TEAM
CONTENTS
CA. Arpan Dodia
CA. Dhiren Parikh
CA. Hitesh Agrawal
CA. Krunal Bhrambhatt
CA. Pradeep Agrawal
CA. Viral K Shah
CA. Vin d Pahilwani
CA. Abhijit J Kotecha
CA. Manoj Sahu
98983 83530Chairman
93762 11099Vice-Chairman
99980 28737Secretary
78748 11551Treasurer
98985 60967Ex-officio
98243 62211IP - Chairman
98980 78176Committee Member
98254 83173Committee Member
90990 94500Committee Member
o
CA. Arpan Dodia CA. Abhijit J Kotecha
CA. Rahul Parikh CA. Nayan R Kothari
CA. Neena Patel CA. Gunjan Agrawal
CA. Vrushali Shah CA. Priyanka Doshi
CA. Dhruti Vaidya CA. Sagar Mehta
Forthcoming Events 2
Congratulations 2
Direct Tax Updates 3
Excise & Service Tax 4
Business Responsibility andSocial Responsibility 4
Key Changes In Indirect Taxes-finance Bill, 2017 5
StatutoryBranch Auditors of banks 8
MS Office Shortcuts 9
Thank you 10
Cherising Memories 11
e
Dear colleagues,
At the outset, I wish you an eventful new fiscal 2017-18.
We expect the new fiscal year to be the year of change. The clearance of Finance Bill 2017, has paved the way towardsreforms for EASE OF DOING BUSINESS and for development. The Goods and Services Tax, the flagship tax reform hasentered its last lap with the introduction of four supporting bills in parliament.
In this rapidly changing world, the cost of doing the same old thing is far higher than the cost of change. The BarodaBranch is fully geared up with various seminars and workshops to keep the members abreast with all regulatorychanges.
In the beginning of the month, the Team Baroda 2017 attended most aptly organised Branch Co-ordination meeting byWIRC, followed by Annual Members Meet wherein Baroda WICASA received second best branch award from the worthyhands of Honourable President and office bearers of WIRC. The Co-ordination meeting was bursting with innovativeideas and motivation. Taking inspiration from an idea of a fellow branch, namely Jamnagar Branch of WIRC of ICAI, theBaroda Branch has started contributing reasonable amount in Chartered Accountants Benevolent Fund (CABF) onbehalf of CA Faculty instead of offering memento to them. The idea was applauded by everyone including the PastPresident of ICAI, CA. Amarjit Chopra Sir.
The month of March signed off with the workshop for accountants & staff members of CA Firms, which Baroda Branch istraditionally organising as part of institutional social responsibility and brand building. The workshop received anoverwhelming response and was highly appreciated by all the participants. Further, for the first time the Baroda Branchhas organised series of events as a part of International Women’s Day celebration which was enjoyed by most womenmembers of Baroda. The special attraction of the series was the night cricket match which depicts women’s safety andequality in the society. Further, The Intensive Workshop on GST ended with positive vibes and appreciation for all thefaculties for sharing knowledge.
The Baroda Branch was fortunate enough to get the first chance in the State to felicitate all the office bearers of WIRC. Wetook pride in felicitating newly elected office bearers of WIRC and had a moment of elevated pride while felicitating ourown regional council member CA. Pradeep Agrawal as a Treasurer WIRC. We are glad that the efforts put in by us duringvisit of WIRC Office Bearers have been well apprised by them.
I take this opportunity to convey heartiest gratitude to all the worthy contributors of Students Financial AssistanceScheme. In such a short span of time, the Branch has collected reasonably good fund and while we are continuing theprocess of collecting funds, the committee has also decided to start distribution of funds to needy students. I request allmembers to please refer such deserving students to Branch.
We are glad to know that this year, highest number of Members have been co-opted from Barodaat WIRC in various committees. I congratulate all the members who have been co-opted at ICAI orWIRC committees.
At the cost of repetition, I would like to attract your attention to few of the initiatives taken byBaroda Branch in form of “No Cash Transaction”, “Car Pooling”, “Using Bicycle or Walk to work”,Connect the Members to Branch – “Get Connected-Stay Connected”, “Students FinancialAssistance” and “Contribution to CABF” which have been already communicated to you. Withthe urge to contribute in the initiatives taken by Branch, I rest my words.
I will be happy to receive your feedback and suggestions on [email protected].
With Best Regards
Chairman
CA. Arpan Dodia
Baroda Branch of WIRC of ICAI 2
FORTHCOMING EVENTS
Intensive Workshop on GST- II
Venue : ICAI Bhawan
Details schedule will follow in E-mail
Conference of New Opportunities
Organised Jointly by all Gujarat Branches
Day & Date : Time :
Venue : A’bad
Saturday, 22-04-2017 | 09.45 am to 05.45 pm
Hotel Avalon, Off S. G. Highway, Bodakdev,
Fees :
Topics Speakers
500/- per member till 10-04-2017, thereafter 600/-
The Benami Transactions (Prohibition) Adv. Tushar HemaniAmendment Act, 2016
Insolvency & Bankruptcy Code 2016 CA. Nipun Singhvi
Opportunities In NSE for CAs CA. Ashish Goyal
The Real Estate (Regulation & Development) CA. Sandesh MundraAct 2016
Prevention of Money Laundering Adv. Manish J. Shah(Amendment) Act 2012
on “Succession Planning”
Day & Date :
Venue :
Sunday, 23-04-2017
Garden, ICAI Bhawan
Time : :
Faculty :
Fees :
07 30 am onwards
CA. Suresh Thakkar
Rs. 100/-
Tax Clinic
Talk on Changing Economy and Role of Professionals
Day & Date :
Venue :
Monday, 24-04-2017
ICAI Bhawan
Time :
Faculty :
Fees :
06.00 pm to 08.00 pm
CA. Manish G. Shah & CA. Narendra Hindocha
Rs. 100/-
Day & Date : Sunday , 23-04-2017
Time :
Faculty :
04.00 pm to 06.00 pm
Dr. Subramanian Swamy
Full day seminar on Co-operative Banks
Day & Date :
Venue :Fees :
Saturday, 29-04-2017
ICAI BhawanRs. 650/- upto 25-04-2017 afterwards Rs.1000/- forCA Members & Rs. 850/- upto 25-04-2017 after-wards Rs.1000/-
Time :
Topics Speakers
09.30 am to 05.00 pm( Registration & Networking at 09.00 am)
for Non- Members
Overview of Co-operative Act, Effect Mr. Ajay Vij, GM RBI*of Demonetization on Co–operativeBanks & Expectations from Auditors
Challenges & Opportunities for Eminent FacultyCo – Operative Banks
Accounting, Auditing & Taxation issues CA. B.K. Patel, Ahmedabadof Co –operative Banks
Latest Circular of RBI for Finalisation of CA. Samir Parikh, VadodaraAccounts of Co – operative Banks
CPEHRS.6
WICASA EVENTSMock Test For CA, IPC & CA Final
Timing for Registration:
Contact:
04:00 pm to 08:00 pm
Anish: 9033002613 | Rujul: 9428767233
Exam Timing: 02:00 to 05:00 pm
Test Series II Last Date Of Registration: 10-04-2017
Exam Dates : 13-04-2017 to 20-04-2017
STUDY CIRCLE MEETINGSDay & Date : Tuesday, 18-04-2017
First Appeal under Income Tax Act - Drafting andRepresentation
6:00 pm to 8:00 pm
CA. Narendra Hindocha
@ ICAI Bhawan
Topic :
Time :
Faculty :
Day & Date : Tuesday, 25-04-2017
Internal Financial Control - Practical Approach
6:00 pm to 8:00 pm
CA. Sapan Gandhi
@ ICAI Bhawan
Topic :
Time :
Faculty :
C o n g r a t u l a t i o n s
CA. Abhishek NagoriInternational Affairs Committee of ICAI &
TaxationInternational Committee of WIRC of ICAI
CA. Ashok ThakkarInternal Audit
CA. Nayan KothariEditorial
CA. Sanjay BhattCapacity Building
CA. Rachit SomaniYoung MemberEmpowerment
CA. Nitesh KhetanDirect Tax
CA. Manoj AgrawalProfessional Accountsin Business & Industry
CA. Kamlesh BhattProfessional Accountsin Business & Industry
CA. Mukund BakshiDirect Tax
CA. AbbasGulamhusainwala
Direct Tax
CA. Ashish JaiswalInternal Audit
CA. Vipul ShahManagement Accounting
CA. Chirag ShahHostel
CA. Jigar ShahHostel
CA. Rutvij VyasExposure Draft
Baroda Branch of WIRC of ICAI is proud to share that these CAs ofBaroda are co-opted in various Committees of ICAI & WIRC
Mm¶ no MMm©
BRANCH EVENTS
CPEHRS.2
CPEHRS.6
CPEHRS.2
CPEHRS.2
*Confirmation awaited
Baroda Branch of WIRC of ICAI 3
DIRECT TAX UPDATES
Contributed by :can be reached at
CA. Narendra Hindocha
1. Administrative matters
i) TDS monitoring
ii) Prosecution
iii) Targets
2. Rate of Penalty for concealment
3. Computation of Book profit
If you face survey by the TDS wing, you may firstto avoid unnecessary
nuisance. Letter dated 8th February 2017 prompts officers to consider survey in caseof such reduction in amount of TDS.
The letter indicates, as also accepted by-
possibly this can mitigate the gravity of non-compliance by assessees.
Chairman of the CBDT, vide letter dated 7th March 2017 to the Principal ChiefCommissioners of Income-tax observed that the work relating to the filing ofprosecution complaints and disposal of compounding applications “is not upto themark” and prompts
etc.
Another communication states that and mostimportant factor in evaluating performance. So if you face and Officer coersing you topay more tax even when not warranted, you know the reason.
Section 271(1)(c) contemplates penalty of between 100 and 300% for concealment ofincome. I have often been overwhelmed by the kindness of the Assessing Officers whohave levied penalty at the minimum rate in most cases. Surprisingly, the range of 100 to300% is quite big and there is little guidance to indicate which cases deserve 100% andwhich cases deserve 300%.
In case of (2017) TaxCorp (A.T.) 54428 (ITAT-MUMBAI), Shri Sujata Hemlal BakhreVersus ITO, the Assessing Officer was not so kind. However, the Tribunal made up of thatlack of grace by directing levy of minimum penalty i.e. 100% u/s 271(1)(c). This wasin spite of agreeing with the view of the lower authorities that the
I noticed two decisions to the effect that amounts,
excluding various components in the profit and loss account. Thelogic is that the section makes all provisions of Income-tax Act applicable to tax undersection 115JB. The decisions are:
- TaxCorp(LJ) 12273 (HC-MADRAS) -TS-708-HC-2016(MAD)-Metal & ChromiumPlater (P) Ltd. Vs. CIT to the effect that even though forming part of netprofit in the Profit and Loss account, should be excluded while computing book profitsfor the purposes of MAT u/s. 115JB.
- TaxCorp(LJ) 12272 (ITAT-KOLKATA) TS-80-ITAT-2017(Kol)-Mcnally Bharat Engg. Co.
explain the reason for lower amount
of tax deducted compared to last year by more than
Government in earlier communications, that
Government deductors are the major component of non-compliant entities
initiating prosecution proceedings in cases including those of
entry operators including those concerning bogus LTCG claims, cases rejected by
Settlement Commission
collection targets are sacrosanct
assessee had
deliberately and intentionally made a false claim of excess interest against the
house property income. The decision concluded stating that in spite of this, the
Tribunal was of the considered view that this is not a fit case for levy of 300%
penalty.
even when credited to profit and
loss account, should be excluded for computing book profit under section 115JB,
when these are not liable to tax. This is in spite of these being not covered by
specific clauses
15%
Capital gains
Ltd. Vs. DCIT to the effect thatshould be excluded
from book profits for the purposes ofMAT calculation u/s. 115JB on theground that Retention money is not inthe nature of income till such time thecontractual obligations are fullyperformed to the satisfaction of thecustomer by the Assessee and hencecannot be regarded as income even forthe purpose of book profits u/s.115JBof the Act though credited in the profitand loss account.
Notification No. 11/2016 dated 02December, 2016 prescribes theprocedure for the purposes offurnishing and verification of Form 26Afor removing of
Accordingly, for theAssessment Year 2017-18 onwards,such forms will need to be filedelectronically as per procedureprescribed.
In the case of Steelco Gujarat LimitedV. Income-tax Officer, the High courtheld that
as income from other sourcesbut would reduce the cost of relativeasset.
In case of capital gains arising out ofdepreciable assets held for long-term,these are to be treated as short termcapital gains for the purposes ofsection 48. However, this fiction doesnot apply for other provisions.Accordingly, such gains are to be
Also the applicable taxrate in such a case is the
if held for more than three years andhence such gains are taxable at lowerrate of twenty per cent. This isconfirmed by Mumbai Bench of ITAT incase of Castrol India Ltd. v. Deputy CIT(Mumbai) 52 ITR(Trib) 43
Retention money
default of Short
Deduction and/or Non Deduction of
Tax at Source.
interest received on deposit
placed for opening letter of credit for
import of machinery was not liable
to tax
as long term gains for
claiming exemptions under sections
54, 54EC etc.
rate
applicable to long-term capital gain
4. Form 26A to be filed electronically
5. Interest on deposit for opening Letterof Credit for machinery
6. Rate of tax for Long term gains fromdepreciable assets
considered
Baroda Branch of WIRC of ICAI 4
JUDICIAL DECISION ONEXCISE AND SERVICE TAX
Contributed by :
can be reached [email protected]
CA. Anirudh Sonpal
I. MANUFACTURE
II. VALUATION
1.1 Spent solvent and industrial waste,obtained as by-product duringmanufacturing process is not liable toexcise duty since these have notresulted from a process of manufacturebut are basically resultant productsfrom repeated use and recycling ofsolvents in the manufacture of bulkdrugs.[CCE, Hyderabad vs Divis Lab –Hyderabad Cestat]
1.2 Lamination/printing/slitting of jumborolls into smaller rolls does not amountto manufacture.[CCE, Delhi vs Space laminates – DelhiCestat]
2.1 Sales promotion cost shown indistributor’s sale price not includible inassessee’s sale price particularly whengoods sold to distributors on principalto principal basis and such cost neithershown in sale price of goods norrecovered from the distributors as extraconsideration.[Varrac Engineer Pvt Ltd vs CCE,Aurangabad – Mumbai Cestat]
2.2 Fees paid for Technical Know-how toforeign collaborator for providinginformation relating to drawing,designing, pattern etc required formanufacture and sale of importedmachine would be included in value ofimported goods in terms of Section 14of the Customs Act, particularly whensuch transfer of technical know-howrelated to condition of sale.[Manugraph India Ltd vs CCE, Mumbai– Mumbai Cestat]
2.3 Operational compensation recoveredfrom customer for non-lifting of thegoods produced is not towards the saleor supply of goods and is, therefore,not includible in Assessable Value.[Caparo Engineering India Pvt Ltd vsCCE – Delhi Cestat]
III. SUPPLY OF TANGIBLE GOODS
IV. EXPORTS
Assessee was engaged in renting of earthmoving equipments and terms and conditionsstipulated in agreement entered into between assessee and lessor led to conclusion thattransaction envisaged in agreement was one of transfer of right to use goods which wasdeemed sales under MVAT and accordingly, assessee's activity of giving equipments onhire did not fall under category of 'supply of tangible goods for use' and not liable toservice tax.[Gimmco Ltd vs CCE, Nagpur – Mumbai Cestat]
Refund of credit denied on the ground that supplies made to 100% EOU are only deemedexports and cannot be considered as actual physical exports ; pecedents have held thatdeemed exports made by EOU to another EOU and goods cleared by DTA to 100% EOUhas to be treated as physical exports and denial of refund of credit on the ground is notlegal; hence appellant is eligible for refund.[Sai Polymers vs CCE – Hyderabad Cestat]
Contributed by :can be reached at
CA. Bimal R. Bhatt
Business Responsibility and Social Responsibility
(What are the responsibilities of business to society? This article is a reappraisal of the
traditional and emerging perspectives on social responsibility of business.)
Sometime back a senior executive of a company, belonging to a large and well-knownindustrial group, told me: “We believe in business responsibility and not in socialresponsibility.” When I asked him what exactly he meant by the term ‘businessresponsibility’, he replied: “It means contributing to the national economy by producinggoods, paying taxes and providing employment. These are the only responsibilities ofbusiness.”
There are still many business people, entrepreneurs and executives who believe in thisnarrow conception of their responsibility to the society to which they belong. In thisconception, what we have to do for our survival is regarded as equivalent to fulfilling ourresponsibilities to the society. If a company doesn’t produce and sell goods or provideservices, it will not exist; if a business organization doesn’t earn profit, it becomes bankrupt; ifan individual or company doesn’t pay taxes, he or she or it is a criminal who will beprosecuted and face the legal consequences; if a company doesn’t employ people, it cannotsurvive, even in our present times, where robots and machines are replacing humans. So toequate paying taxes, giving employment or producing goods to social responsibility istantamount to telling “I am fulfilling my social responsibility by not stealing or not committingmurder” or “I am fulfilling my responsibility to the society by eating food, because I amhelping the farmers who produce food!” We can even say “I am fulfilling my socialresponsibility by falling sick” because in our present age, a large part of a nation’s economy,namely, hospitals, drug industry and doctors depend on curing sickness.
The ideal of social responsibility goes beyond mere ‘business responsibility’. The highest andthe most progressive idea in modern management thought looks at business as an integral orconstituent part of the larger society, and their interdependence. A healthy, efficient andproductive business is needed for the prosperity of the society. Similarly a healthy society,where people are healthy, educated, skilled, working, earning, spending, and are providedgood, affordable infrastructure (such as power, transportation, communication), provides afavourable environment for the growth of business. So an enlightened business sense, whichlooks at the long term, never hesitates to spend its resources, talent and energies in buildingsuch a healthy society and makes a conscious effort for the well-being and progress of thelarger life of which it is a part.
Baroda Branch of WIRC of ICAI 5
However, there is also an element of truth in aforementioned concept of ‘businessresponsibility’. There are some very idealistic and ‘spiritual’ theorists who despise businessand business persons and say, “Oh these people are interested only in making money andearning profit.” Creating wealth for the society is a fundamental dharma of business. And if abusiness organization doesn’t make money or earn profit, it cannot survive as an entity. So, abusiness organization must first learn to create wealth for itself, survive and prosper, whichmeans to develop the skills and competencies to create wealth and build something useful forthe society. Profit and money-making and ploughing back the money and profit to build itscapabilities for creating wealth is part of this process.
A company which is inefficient, lethargic and incompetent in creating wealth and as a resultgoes bankrupt is not only not fulfilling its fundamental dharma but creating misery for thesociety, because when a company which employs people collapses, so many men andwomen and their dependent families are thrown out on the street without any support.Therefore, a business organization must learn to fulfill its business responsibility with anincreasing efficiency and productivity, which means developing the capabilities to createwealth, before embarking on a large scale into its social responsibility. For, we can give onlywhat we have. The company may take up a corporate social responsibility (CSR) project on asmall scale or on an experimental basis or to fulfill governmental rules (a recent law of Indiangovernment makes it obligatory for companies earning above a certain amount to spend 2%of their net profit on CSR, which is a mild investment for any company). But it is not desirablefor a company to embark on a large scale into CSR before it has acquired the capacity tocreate wealth for itself with a sustained momentum. When a business organization hasattained a certain level of mastery in creating wealth for itself on a sustained basis, it can, andhas to, turn this capacity more and more to the society, in bringing economic prosperity, well-being and progress to the larger community.
(Source: Fourth Dimension Inc.)
KEY CHANGES IN INDIRECT TAXES-FINANCE BILL, 2017
Contributed by :can be reached at
CA. Abhay Desai
CHANGES IN CUSTOMS TARIFF ACT, 1975
1) WITHDRAWAL OF EXEMPTION FROM ANTI SUBSIDY INVESTIGATION
CHANGES IN THE CENTRAL EXCISE ACT, 1944 (EFFECTIVE FROM THE DATE OF ASSENTBY PRESIDENT TO FINANCE BILL, 2017)
1) SCOPE OF SETTLEMENT COMMISSION WIDENED
‐
• Clause (c) of sub section (3) of section 9 is proposed to be substituted so as to withdrawthe exemption to three categories of non actionable subsidies specified therein fromthe scope of anti subsidy investigations
• As per Sec. 32E of Central Excise Act, 1944, an assessee may, in respect of a caserelating to him, make an application, before adjudication, to the Settlement Commissionto have the case settled.
• It may be noted that ‘assessee’ has not been defined under Central Excise Act, 1944. Asper Rule 2© of Central Excise Rules, 2002 an assessee means any person who is liablefor payment of duty assessed or a producer or manufacturer of excisable goods or aregistered person of a private warehouse in which excisable goods are stored andincludes an authorized agent of such person. Hence a person who is not liable forpayment of duty but is liable for payment of penalty (e.g. person who abets (assists) inevading duty) was not regarded as assessee and hence may not be permitted toapproach settlement commission. Said lacuna has been proposed to be removed.
• It has been proposed that even any other person other than an assessee may also makean application to the Settlement Commission in respect of a show cause notice issued tohim in a case relating to the assessee which has been settled or is pending before the
‐
‐
‐
Settlement Commission and suchnot ice is pending before anadjudicating authority, in such mannerand subject to such conditions, as maybe prescribed.
• It is also proposed that The SettlementCommission may, at any time withinthree months from the date of passingof the order under sub section (5),amend such order to rectify any errorapparent on the face of record, eithersuo motu or when such error isbrought to its notice by thejurisdictional Principal Commissionerof Central Excise or Commissioner ofCentral Excise or Principal AdditionalDirector General of Central ExciseIntelligence or Additional DirectorGeneral of Central Excise Intelligenceor the applicant. However reasonableopportunity of being heard must begranted before enhancing the liability.
• Authori ty for Advance Rul ingsconstituted under section 245 O ofthe Income tax Act, 1961 shall be theAuthority for giving advance rulings forthe purposes of Customs, Excise &Service Tax. Member from the IndianRevenue Service (Customs andCentral Excise), who is qualified to be aMember of the Board, shall be therevenue Member of the Authority.Pending application on the date ofassent of Finance Bill, 2017 to betransferred to the new authority.
• Application fee proposed to beincreased from INR 2500/ to INR10,000/ .
• Time limit for pronouncing the rulingproposed to be increased from ninetydays to six months.
Application for remission of duty to bedecided within a period of three months (canbe extended by higher authority for a furtherperiod not exceeding six months) from thedate of receipt under Rule 21 of CentralExcise Rules, 2002 (Notification No. 5/2017– Central Excise (N.T.) effective from02.02.2017
‐
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‐
‐
‐
2) AUTHORITY FOR ADVANCE RULINGT O B E M E R G E D W I T H I N C O M ETAX AUTHORITY
CHANGE IN CENTRAL EXCISE RULES, 2002
...Continued from last issue
Baroda Branch of WIRC of ICAI 6
CHANGES IN RATES OF DUTY - CUSTOMS
Commodity Rate of Duty
I. Incentivizing domestic value addition, ‘Make in India’
A. Reduction in Customs duty on inputs and raw materials to reduce costs
Mineral fuels and Mineral oils
Chemicals & Petrochemicals
Metals
Finished Leather
Capital Goods
Renewable Energy
Miscellaneous
B. Changes in Customs and Excise / CV duty to address the problem of duty
inversions in certain sectors
Chemicals & Petrochemicals
Textiles
Metals
From To
Liquefied Natural Gas BCD – 5% BCD – 2.5%
Medium Quality Terephthalic Acid BCD – 7.5% BCD – 5%(MTA) & Qualified Terephthalic Acid (QTA)
Nickel BCD – 2.5% BCD – Nil
Vegetable tanning extracts, namely,Wattle extract and Myrobalan fruit extract BCD – 7.5% BCD – 2.5%
Ball screws, linear motion guides and Ball screws BCD – 2.5%CNC systems for use in the manufacture and linerof CNC machine tools, subject to actual motion guidesuser condition BCD – 7.5%
CNC systemsBCD – 10%
All items of machinery required for fuel cell BCD – 10% / BCD – 5%based power generating systems to be set up 7.5%in the country or for demonstration purposes, CVD – 12.5% CVD – 6%subject to certain specified conditions
All items of machinery required for balance of BCD – 10% / BCD – 5%systems operating on biogas/ bio-methane/ 7.5%by-product hydrogen, subject to certain CVD – 12.5% CVD – 6%specified conditions
All parts for use in the manufacture of LED Applicable BCD – 5%lights or fixtures, including LED lamps, subject BCD, CVD CVD – 6%to actual user condition
All inputs for use in the manufacture of LED Applicable 5%Driver and MCPCB for LED lights or fixtures, BCDincluding LED lamps, subject to actual usercondition
o-Xylene BCD – 2.5% BCD – Nil
Ethyl Anthraquinone [2914 69 90] for use in BCD – 7.5% BCD – 2.5%manufacture of hydrogen peroxide,subject to actual user condition
Vinyl Polyethylene Glycol (VPEG) for use in BCD – 10% BCD – 7.5%manufacture of Poly Carboxylate Ether,subject to actual user condition.
Nylon mono filament yarn for use in mono- BCD – 7.5% BCD – 5%filament long line system for Tuna fishing,subject to certain specified conditions.
Co-polymer coated MS tapes / stainless steel BCD – Nil BCD – 10%tapes for manufacture of specified tele-communication grade optical fibres or opticalfibre cables, subject to actual user condition
Commodity Rate of Duty
Automobiles
Renewable Energy
Miscellaneous
C. Changes in Customs duty to provide adequate protection to domestic
industry
Food Processing
Electronics / Hardware
Miscellaneous
D. Promotion of cashless transactions and promote domestic manufacturing
of devices used therefor
From To
MgO coated cold rolled steel coils BCD – 10% BCD – 5%for use in the manufacture of CRGO steel,subject to actual user condition
Hot Rolled Coils [7208] for use in the BCD – 12.5% BCD – 10%manufacture of welded tubes and pipes fallingunder heading 7305 or 7306, subject to actualuser condition
Clay 2 Powder (Alumax) for use in ceramic BCD – 7.5% BCD – 5%substrate for catalytic convertors,subject to actual user conditon
Solar tempered glass for use in the BCD – 5% BCD – Nilmanufacture of solar cells/panels/modules
Parts/raw materials for use in the manufacture CVD – 12.5% CVD – 6%of solar tempered glass for use in solar photo-voltaic cells/modules, solar power generatingequipment or systems, flat plate solarcollector, solar photovoltaic module and panelfor water pumping and other applications,subject to actual user condition
Resin and catalyst for use in the manufacture BCD – 7.5% BCD – 5%of cast components for Wind Operated Energy CVD – 12.5% CVD – NilGenerators [WOEG], subject to actual user SAD – 4% SAD – Nilcondition
Membrane Sheet and Tricot / Spacer for use CVD – 12.5% CVD – 6%in the manufacture of RO membrane elementfor household type filters, subject to actualuser condition
Cashew nut, roasted, salted or roasted and BCD – 30% BCD – 45%salted
Populated Printed Circuit Boards (PCBs) for SAD – Nil SAD – 2%use in the manufacture of mobile phones,subject to actual user condition
RO membrane element for household type BCD – 7.5% BCD – 10%filters
a) Miniaturized POS card reader for m-POS Applicable BCD – Nil(not including mobile phones or tablet BCD, CVD CVD – Nilcomputer), SAD SAD – Nil
b) Micro ATM as per standards version 1.5.1
c) Finger Print Reader / Scanner, and
d) Iris Scanner
Parts and components for manufacture of:a) miniaturized POS card reader for m-POS Applicable BCD – Nil
(not including mobile phones or tablet BCD, CVD CVD – Nilcomputer), SAD SAD – Nil
b) micro ATM as per standards version 1.5.1
c) Finger Print Reader / Scanner, and
d) Iris Scanner
[7225 1990]
Baroda Branch of WIRC of ICAI 7
Commodity Rate of Duty
II. Imposition of export duty to conserve domestic resources
III. Improving ease of doing business and Export Promotion
IV. Anti-avoidance measure
Note:
CHANGES IN RATES OF DUTY - EXCISE
Public Health
A. Tobacco and Tobacco Products
II. Incentivizing domestic value addition, ‘Make in India’
A. Renewable Energy
From To
Other aluminium ores, including laterite Nil 15%
De-minimis customs duties exemption limit Duty payable CIF valuefor goods imported through parcels, packets not exceeding not exceedingand letters Rs.100 per Rs.1000 per
consignment consignment
Limit of duty free import of eligible items for 3% of FOB 5% of FOB
manufacture of leather footwear or synthetic value of said value of saidfootwear or other leather products for use in goods expor- goods expor-the manufacture of said goods for export ted during the ted during the
preceding precedingfinancial year financial year
Silver medallion, silver coins, having silver CVD – Nil CVD – 12.5%content not below 99.9%, semi-manufacturedform of silver and articles of silver
(a) “Basic Customs Duty” means the customs duty levied under theCustoms Act, 1962.
(b) “CVD” means the Additional Duty of Customs levied under sub-section (1) of section 3 of the Customs Tariff Act, 1975.
(c) “SAD” means the Special Additional Duty of Customs levied undersub-section (5) of section 3 of the Customs Tariff Act, 1975.
(d) “Export duty” means duty of Customs leviable on goods specified inthe Second Schedule to the Customs Tariff Act, 1975.
I
Cigar and cheroots 12.5% or 12.5% orRs.3755 per Rs.4006 perthousand, thousand,whichever is whichever ishigher higher
Cigarillos 12.5% or 12.5% orRs.3755 per Rs.4006 perthousand, thousand,whichever is whichever ishigher higher
Cigarettes of tobacco substitutes Rs.3755 per Rs.4006 perthousand thousand
Cigarillos of tobacco substitutes 12.5% or 12.5% orRs.3755 per Rs.4006 perthousand, thousand,whichever is whichever ishigher higher
Others of tobacco substitutes 12.5% or 12.5% orRs.3755 per Rs.4006 perthousand, thousand,whichever is whichever ishigher higher
Paper rolled biris – handmade Rs.21 per Rs.28 perthousand thousand
Paper rolled biris – machine made Rs.21 per Rs.78 perthousand thousand
All items of machinery required for balance 12.5% 6%of systems operating on biogas/bio-methane/ by-product hydrogen
Commodity Rate of Duty
B. Miscellaneous
III. Promotion of cashless transactions and promote domestic manufacturing
of devices used therefor
CHANGES IN RATE OF ADDITIONAL DUTY LEVIED UNDERSECTION 85 OF THE FINANCE ACT, 2005
A. Pan Masala
B. Tobacco and Tobacco Products
From To
Membrane Sheet and Tricot/Spacer for use 12.5% 6%in the manufacture of RO membrane elementfor household type filters, subject to actualuser condition
All parts for use in the manufacture of LED Applicable 6%lights or fixtures, including LED lamps, dutysubject to actual user condition
Waste and scrap of precious metals or Nil Nil, subject tometals clad with precious metals arising in the conditioncourse of manufacture of goods failing in that no creditChapter 71 of duty paid
Strips, wires, sheets, plates and foils of silver on inputs orArticles of silver jewellery, other than those input servicesstudded with diamond, ruby, emerald or or capitalsapphire goods has
Silver coin of purity 99.9% and above, been availedbearing a brand name when manufactured by manufact-from silver on which appropriate duty of urer of suchcustoms or excise has been paid goods
a) Miniaturized POS card reader for m-POS Applicable Nil(not including mobile phones or tablet dutycomputers),
b) micro ATM as per standards version 1.5.1,
c) Finger Print Reader / Scanner, and
d) Iris Scanner
Parts and components for manufacture of: Applicable Nila) Miniaturized POS card reader for m-POS duty
(not including mobile phones or tabletcomputers),
b) Micro ATM as per standards version 1.5.1,
c) Finger Print Reader / Scanner, and
d) Iris Scanner
Pan Masala 6% 9%
Unmanufactured tobacco 4.2% 8.3%
Non-filter Cigarettes of length not Rs.215 per Rs.311 perexceeding 65mm thousand thousand
Non-filter Cigarettes of length exceeding Rs.370 per Rs.541 per65mm but not exceeding 70mm thousand thousand
Filter Cigarettes of length not Rs.215 per Rs.311 perexceeding 65mm thousand thousand
Filter Cigarettes of length exceeding 65mm Rs.260 per Rs.386 perbut not exceeding 70mm thousand thousand
Filter Cigarettes of length exceeding 70mm Rs.370 per Rs.541 perbut not exceeding 75mm thousand thousand
Other Cigarettes Rs.560 per Rs.811 perthousand thousand
Chewing tobacco (including filter khaini) 6% 12%
Jarda scented tobacco 6% 12%
Pan Masala containing Tobacco (Gutkha) 6% 12%
Baroda Branch of WIRC of ICAI 8
Expectations of variousstakeholders from Statutory
Branch Auditors of banks
Contributed by :
can be reached [email protected]
CA. Nayan Kothari
Bank Management
Banks attach prime importance to statutoryaudit and preparation for the audit is astructured process consisting of allocatingbranches to auditors, briefing branches insmall clusters about the do’s and don’ts,reporting discipline, action on MOC andexpected time lines for audit completion. Inmany cases, a preliminary scrutiny ofaccounts is undertaken in order to identifyand decide on the treatment of cases ofambiguous classification. The concerns ofthe banks in this area are:
I. Whether the audit will commence andconclude on schedule – It iscustomary for the banks to decide onthe tentative date for bringing out theirannual results, all audit activity to becompleted within time limit, leavingtime for finalization of results. Thisdoes put pressure on auditors, butthey have a lso cond i t i onedthemselves to this requirement ofbanks.
ii. Whether the auditor has familiarizedhimself with the bank’s significantaccount ing pol ic ies, in terna lguidelines on different aspects,internal notes, information emanatingfrom branch and managementresponse thereto, problem areas etc.
iii. Whether the audit will be conducted ina harmonious atmosphere, meetingthe infrastructural and informationneeds without delay, and the auditor isplanning his requirements in amethodical manner.
iv. Whether the bank could expect agenerally ethical and professionalapproach. This is an area ofsubjectivity, but auditors havegenerally been found to be reasonablewithin the limits of their professional
authority and responsibility.
v. Whether the auditor is able and willing to guide bank staff in the interpretation ofguidelines and bringing risky situations or practices of the branch to the knowledge ofthe management, with guidance wherever possible.
The above will enable us to construct the role of an auditor insofar as bank audit isconcerned. This is attempted in the following sections, organized in the order of importance.
I. The auditing team is an efficient unit which acts upon the assignment letter promptly,visits the branch allotted, participates in pre audit meetings and understands theaccounting ‘topography’ of the branch, and is generally well prepared to complete theaudit on schedule. This will lead to the auditing team perusing the relevant files,inspection reports, control returns and documents in advance of the commencementof the audit, and familiarize themselves with the IT System.
ii. Conclusions regarding accounts in general and individual cases would be arrived atbased on the extant regulatory guidelines, the bank’s views on the transactions and anunderstanding of the real nature of the transactions or situations. This is a veryimportant aspect because the risk of a loan loss cannot be decided on accountingevents alone but on the basis of a study of the account in totality. Any decision toclassify solely on the basis of a calendar of events would be inappropriate. Somebanks have the practice of preparing internal notes on cases of ambiguousclassification of accounts, setting out the history of the accounts, the market in whichthe customer operates, the transaction in question or account status, and advising thereasons for treating an account as standard or otherwise. Bankers will be bankers,given the pressure that they are subject to, and auditors are bound by theirprofessional compulsions. Without suggesting that ever greening or incorrect assetclassification should be allowed, it is submitted that the auditor, given his timeconstraint and limited exposure regarding the account must keep an open mind andstudy the submissions of the branch. If this is not done, good borrowers would alsostand classified and affected as NPAs accounts. What is important is a balanced viewon the account. Such decisions by the auditors must be taken with conviction, so thatif a transaction is questioned at a later date, the auditor must be able to stand hisground and not submit to undesirable pressures. This is a very important role for theauditor and demands considerable maturity and balanced judgement on his part.
iii. Ability to guide branch and head office functionaries in aspects of risks involved incertain transactions or accounts or procedures in the bank. An auditor who is able toact as a guide and counsel (rather than as a fault finder without diluting his professionalresponsibility) would be able to command respect of the bank.
iv. It is in the interest of the bank and the auditors to maintain grace during the course ofthe audit. On Conflicting issues which may crop up during audit, calls forassertiveness rather than aggression on the part of the auditor and bank official. Thereare number of instances where the auditors and bankers would have gained byintrospecting on their actions and remarks.
v. The reporting of possible fraud in an account or transaction deserves to be mentioned.It is suggested that the auditor concerned discusses the matter with the CentralStatutory Auditor before coming to a conclusion. This will facilitate a report based on aholistic view of the account or transaction.
vi. The matter of noting qualifications on the financial results is a tricky area, as it has farreaching implications for the bank concerned. This is an area which requires tact andaccuracy on the part of the auditor. Fortunately, the Central Statutory Auditors have thematurity to draft this area after discussions amongst themselves, the branch auditorand with the top management of the bank concerned such that differences areresolved in a healthy and professional manner.
vii. Finally, the Long Form Audit Report, which provides critical information on the
Baroda Branch of WIRC of ICAI 9
systems and procedures, and practices at the branches is a very important documentfor the bank. Auditors generally do this exercise with diligence.
The branch statutory auditor’s report together with the Long Form Audit Report and variouscertificates, should reflect the status of the branch in terms of its operations, financial resultsand the health of its portfolio of loans and advances, specific instances and weaknessesaccount wise for taking proper remedial action by the higher authorities of the bank onimplementation of internal controls, fraud, off balance sheet items including contingentliabilities etc.,
The Reserve Bank of India can draw comfort that professional scepticism has beenexercised by the branch statutory auditor and the affairs at the branches are conducted in anacceptable and reliable manner as stipulated.
Reserve Bank of India looks to the audit fraternity to directly report frauds above Rs.100lakhs or transactions which are suspicious or which may be in the nature of moneylaundering for speedy action from their end.
Taxation authorities rely on the information provided by the CharteredAccountants in Form 3 CD. Central Statutory Auditor place reliance on the branch auditorsreporting after verification of records that the statement of particulars furnished in the Form3CD at the branches is true and correct.
The collection and remittance of service tax on applicable services is an areawhich the branch auditor will be reporting as part of the branch audit. Service Tax authoritiesmay rely on the information certified by the branch auditor in this regard.
They are generally concerned about the financial health of the bank and look forward to thebranch auditor to bring out issues which could be having an impact on the operation orprofitability of the bank including frauds or incidence of NPA of large advance accounts.
The confidence of the general public in the banking system is significantly enhanced due tothe branch audits, which ensures that there are adequate checks and controls in bankinginstitutions to put their hard earned monies as deposits in banks.
Reserve Bank of India
Various statutory authorities
Tax Audit:
Service Tax:
Shareholders of Banks
General Public
MS Office Shortcuts
Contributed by :can be reached at
CA. Himanshu Shah
1. Navigate Inside Excel Worksheets
Arrow Keys :
Page Down/Page Up :
Alt+Page Down/Alt+Page Up :
Tab/Shift+Tab :
Ctrl+Arrow Keys :
Home :
Ctrl+Home :
Ctrl+End :
Ctrl+F :
Ctrl+H :
Shift+F4 :
Move one cell up, down, left, or right in a worksheet.
Move one screen down / one screen up in a worksheet.
Move one screen to the right / to the left in a worksheet
Move one cell to the right / to the left in a worksheet
Move to the edge of next data region (cells that contains data)
Move to the beginning of a row in a worksheet
Move to the beginning of a worksheet
Move to the last cell with content on a worksheet.
Display the Find and Replace dialog box (with Find selected).
Display the Find and Replace dialog box (with Replace selected).
Repeat last find.
Ctrl+g (or f5) :
Ctrl+Arrow Left/Ctrl+Arrow Right :
Home/End :
A l t+Arrow Down :
End :
2. Work with Data Selections
Shift+Space :
Ctrl+Space :
Ctrl+Shift+* (asterisk) :
Ctrl+a (or ctrl+Shift+spacebar) :
Ctrl+Shift+Page Up :
Ctrl+Shift+O :
Shift+Arrow Keys :
Ctrl+Shift+Arrow Key :
Shift+Page Down/Shift+Page Up :
Shift+Home :
Ctrl+Shift+Home :
Ctrl+Shift+End :
F8 :
Shift+F8 :
Display the 'Go To' dialogbox.
Insidea cell: Move one word to the left / to the right.
Inside a cell: Move to thebeginning / to the end of a cell entry.
D isp lay theAutoComplete list e.g. in cell withdropdowns or autofilter.
Turn 'End' mode on. In End mode,press arrow keys to move to the nextnonblank cell in the same column or row asthe active cell. From here use arrow keys tomove by blocks of data, home to move tolast cell, or enter to move to the last cell tothe right.
Select the entire row.
Select the entire column.
Select thecurrent region around the active cell.
Selectthe entire worksheet or the data-containingarea. Pressing ctrl+a a second time thenselects entire worksheet.
Select the currentand previous sheet in a workbook.
Select all cells withcomments.
Extend the selection byone cell.
Extend theselection to the last cell with content in rowor column.
Extendthe selection down one screen /up onescreen.
Extend the selection to thebeginning of the row.
Extend the selection tothe beginning of the worksheet.
Extend the selection tothe last used cell on the worksheet (lower-right corner).
Turn on extension of selection witharrow keys without having to keep pressingshift.
Add another (adjacent or non-adjacent) range of cells to the selection. Usearrow keys and shift+arrow keys to add to
Manage Active Selections
Baroda Branch of WIRC of ICAI 10
selection.
Select only the activecell when multiple cells are selected.
Show active cell withinselection.
Move clockwise to thenext corner of the selection.
Move active cell down /up in a selection.
Move active cell right / leftin a selection.
Move to the right / to the left betweennon-adjacent selections (with multipleranges selected).
Cancel Selection.
Select or unselect one character to the left /to the right.
Select or unselect one word to the left /to the right.
Select from theinsertion point to the beginning / to the endof the cell.
Undo / Redo Shortcuts
Undo last action (multiple levels).
Redo last action (multiple levels).
Copy contents of selected cells.
Cut contents of selected cells.
Paste content from clipboard intoselected cell.
If data exists in clipboard:Display the Paste Special dialog box.
If data exists in clipboard:Display the Insert dialog box to insert blankcells.
Edit the active cell with cursor at end ofthe line.
Start a new line in the same cell.
Complete a cell entry and movedown in the selection. With multiple cellsselected: fill cell range with current cell.
Complete a cell entry andmove up in the selection.
Complete a cell entry and
Shift+Backspace :
Ctrl+Backspace :
Ctrl+. (period) :
Enter/Shift+Enter :
Tab/Shift+Tab :
Ctrl+Alt+Arrow Right/Ctrl+Alt+ArrowLeft :
Esc :
Shift+Arrow Left/Shift+Arrow Right :
Ctrl+Shift+Arrow Left/Ctrl+Shift + ArrowRight :
Shift+Home/Shift+End :
3. Insert and Edit Data
Ctrl+Z :
Ctrl+Y :
Ctrl+C :
Ctrl+X :
Ctrl+V :
Ctrl+Alt+V :
Ctrl+Shift+[+] :
F2 :
Alt+Enter :
Enter :
Shift+Enter :
Tab/Shift+Tab :
Select inside cells
Work with Clipboard
Edit Inside Cells
move to the right / to the left in the selection.
Cancel a cell entry.
Delete the character to the left of the insertion point, or delete the selection.
Delete the character to the right of the insertion point, or delete the selection.
Delete text to the end of the line.
Insert current date.
Insert current time.
Show all content as standard numbers. (So 14:15 becomes 14.25 etc for the entirefile) To undo press ctrl + t again
Fill complete cell down (Copy above cell).
Fill complete cell to the right (Copy cell from the left).
Fill cell values down and edit (Copy above cell values).
Fill cell formulas down and edit (Copy above cell formulas).
Insert a table (display Create Table dialog box).
Delete Cell/Row/Column Menu
Delete row / delete column.
Insert Cell/Row/Column Menu
Insert row/ insert column.
Insert / Edit a cell comment.
Delete comment.
Create and insert chart with data in current range as embedded Chart Object.
Create and insert chart with data in current range in a separate Chart sheet.
Insert a hyperlink.
Activate a hyperlink.
Hide the selected rows.
Unhide any hidden rows within the selection.
Hide the selected columns.
Unhide any hidden columns within the selection*.
Alternate between displaying cell values and displaying cellformulas. Accent grave /not a quotation mark.
Group rows or columns.
Ungroup rows or columns.
Alternate between hiding and displaying objects.
Display or hides the outline symbols.
Alternate between hiding objects, displaying objects, and displaying placeholdersfor objects.
Esc :
Backspace:
Delete :
Ctrl+Delete :
Ctrl+; (semicolon) :
Ctrl+Shift+: (colon) :
Ctrl+T :
Ctrl+D :
Ctrl+R :
Ctrl+" :
Ctrl+' (apostrophe) :
Ctrl+L :
Ctrl+- :
Ctrl+- with row / column selected :
Ctrl+Shift+[+] :
Ctrl+Shift+[+ with row / column selected :
Shift+F2 :
Shift+f10, then m :
Alt+F1 :
F11 :
Ctrl+K :
enter (in a cell with a hyperlink) :
Ctrl+9 :
Ctrl+Shift+9 :
Ctrl+0 (zero) :
Ctrl+Shift+0 (zero) :
Ctrl+`(grave accent) :
Alt+Shift+Arrow Right :
Alt+Shift+Arrow Left :
Ctrl+6 :
Ctrl+8 :
Ctrl+6 :
Edit Active or Selected Cells
Hide and Show Elements
Thank You
CA. Jay Chhaira Rs. 50,000/-
CA. Mayur Swadia Rs. 50,000/-
CA. Neena Patel Rs. 50,000/-
CA. Vinit Tolia Rs. 25,000/-
CA. Manish Baxi Rs. 20,000/-
CA. Pradeep Agrawal Rs. 12,000/-
CA. Ashok Thakkar Rs. 10,000/-
Baroda Branch of WIRC of ICAI is thankful to the worthy Contributors ofStudents Financial Assistance Scheme.
CA. Abhishek Nagori Rs. 10,000/-
CA. Abhay Sharma Rs. 10,000/-
CA. Arpan Dodia Rs. 10,000/-
CA. Hitesh Agrawal Rs. 10,000/-
CA. Abhijit J. Kotecha Rs. 10,000/-
CA. Prabhat Doshi Rs. 09,000/-
Baroda Branch of WIRC of ICAI
Full Day Seminar on “Bank Branch Audit” on 25-03-2017 Lecture Meeting on “How to reply to RecentNotices Issued by ROC Gujarat” on 28-03-2017
CS. Neeraj Trivedi & CS. Swati BhattCA. Abhijit SanzgiriCA. Ajaykumar JainCA. Amarjit Chopra CA. Navin Khandelwal
“Introduction to Ind AS...”Live Webcast on 29-03-2017
11
Cherising Memories...“Workshop Series for Accountants & Staff Members of CA Firms” on 02,07,09,10-03-2017
CA. R C Thakkar CA. Farhad Wadia CA. Himanshu Shah CA. Varun Fitter
“Intensive Workshop on GST” March 2017 on 06,07,08,09,14,15-03-2017
“Women's Week Celebration” on 08,09,10,11,12-03-2017
CA. Siddharth JadejaCA. Amish Khandhar Mr. Sanjay Saraswat CA. Abhay Desai CA. Anirudh Sonpal CA. Avinash Poddar CA. Janak VaghaniPanel Discussion & Point to Point analysis
and discussion on query of participants
Day Night Cricket Tournament for Female Members & Students on 11-03-2017Day Night Cricket Tournament for Female Members & Students on 11-03-2017
Practical Training to protect yourself and others on 12-03-2017Practical Training to protect yourself and others on 12-03-2017 First Aid for your Vehicle with live demo on 12-03-2017First Aid for your Vehicle with live demo on 12-03-2017
“Holi Milan” on 13-03-2017
Study Circle Meeting
CA. Manish Baxi
WICASA EVENTS
“ExploringNew Avenues of
Practice/Consultancyfor the deserved Growth”
on 16-03-2017
“ExploringNew Avenues of
Practice/Consultancyfor the deserved Growth”
on 16-03-2017
Baroda Branch of WIRC of ICAI
DISCLAIMER : The ICAI and the Baroda Branch of WIRC of ICAI is not in any way responsible for the result of any action taken on the basis of the advertisement published in the Newsletter. The members,however, may bear in mind the provisions of the Code of Ethics while responding to the advertisements. The views and opinion expressed or implied in the Newsletter are those of the authors / contributors and donot necessarily reflect those of Baroda Branch. Unsolicited matters are sent at the owner's risk and the publisher accepts no liability for loss or damage. Material in this publication may not be reproduced, whetherin part or in whole, without the consent of Baroda Branch. Members are requested to kindly send material of professional interest to The same may be published inthe newsletter subject to availability of space & editorial editing.
[email protected]/[email protected]
Baroda Branch of WIRC ofThe Institute of Chartered Accountants of India
www.baroda-icai.org WIRC : www.wirc-icai.org ICAI: www.icai.orgl l
Back Cover (4 color) 15,000 Inside Front/Back Cover (4 color) Full Page (1 Color) Half Page (1 Color) 5,000
ADVERTISEMENT RATE : * Discount - 3 to 6 issue of 10%, 7 to 12 issue 15% * Circulated to more than 2200 Chartered Accountants
ADVERTISEMENTS :SUBSCRIPTION RATES :
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The tariff for advertising given below are duly approved by the Managing Committee of the Baroda Branch. Advertisements are received directly by the Branch and no advertising agency hasbeen appointed for this purpose. This Newsletter is circulated without any charges to its members and other important categories of recipients as per ICAI Advisory on Newsletters.Subscription rate is Rs. 20/- per issue for others. CA. Arpan Dodia on behalf of Baroda Branch of WIRC of ICAI “ICAI Bhawan”, Kalali-Tandalja Road, Atladra, Vadodara - 390 012
Multiprints, 30/B, Gandhi Oil Mill Compound, Near BIDC, Gorwa, Vadodara - 390 016. Ph.: 0265-228 5592
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THE INSTITUTE OF CHARTEREDACCOUNTANTS OF INDIA
Tel. : E-mail :Web :
ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi - 110 002.+91 (11) 3989 3989 | [email protected]
WESTERN INDIA REGIONAL COUNCIL
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ICAI Tower, Plot no C-40, G Block, Opp MCA Ground, Bandra Kurla Complex,Bandra (E), Mumbai - 400 051
+022 - 3367 1400 / 3367 1500 | [email protected]
12
WICASA EVENTS“Felicitation of WIRC Executives 2017-18" on 25-03-2017
Interaction with past chairmen of Baroda BranchInteraction with past chairmen of Baroda BranchWIRC Committee at Press ConferenceWIRC Committee at Press Conference
Felicitation of Newly Qualified CAsFelicitation of Newly Qualified CAs
“TEAM WICASA - 2016 Receiving Award from President CA. Nilesh Vikamsey” on 09-03-2017
