Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: ACCOUNTING STANDARD :: due date for vat payment :: form 3cd :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: VAT Audit :: articles on VAT and GST in India :: cpt :: ACCOUNTING STANDARDS :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4%
« General »
 Banks warn share tax hike threatens Paris' post-Brexit appeal
 PMC may decide on property tax rebate for IT firms this week
 I-T Dept is giving out certificates of appreciation. Have you received yours?
 Government works on ironing out benefits refund mechanism for exportersa
  Tax officials are using an IDS provision to question transactions beyond six-year-limit
 Tax-free bonds rally like midcap funds
 Senior citizens do not have to pay advance tax on salary and interest income
 GST: Audit commissioners to get adjudication powers
 Interest on NRE rupee account can be exempt from tax under FEMA
 Impact of GST on Real Estate Sector
 GST regime: Tax payers allowed to take option of third-party interfaces

Mukherjee says, Onion prices will moderate soon
January, 05th 2011

Even as the onion prices continued to surge in key markets, finance minister Pranab Mukherjee assured that there would be moderation in its prices shortly.

We have already reduced import duty on onions to zero level. I do hope some moderation and improvement will take place soon, said Mukherjee on the sidelines of a meeting held by Institute of Chartered Accountants of India (ICAI) on Tuesday.

Onion prices that dipped in national capital during last few days have begun to surge again and reached Rs 70 per kg level. The government had allowed free import on onions without duty as against earlier levy of 5 per cent.

The governments earlier move to direct its three trading companies including MMTC and STC to onions import also did not yield results. Last month, directorate general of foreign trade (DGFT) had banned export onions till further orders.

The agencies had since then imported 1,000 tonnes of onions from Pakistan that will be offloaded in retail markets across the country by state governments.

The government is also betting big on fresh onion crop from Maharashtra and Gujarat that is expected to hit the market by January 15.

Retail prices of onions had surged to Rs70-85/kg on December 20-21 in major cities across the country due to crop damage in Maharashtra caused by abnormal rainfall.

Earlier, Mukherjee cautioned accounting professionals against window dressing of corporate balance sheets. He called strict adherence to disclosure guidelines.

Accountants have a critical role in guarding against window dressing of balance sheets that encourage entities to take more and more risk until they are dangerously leveraged, he said.

Insisting on more transparency in financial sector to avoid frauds, Mukherjee said, We must encourage stronger disclosure standards for systemically important financial institutions as well as complex and sophisticated financial products.

Emphasising that prudential norms be followed judiciously, Pranab Mukherjee said, apparent risk taken should not encourage everyone to take more risks and thereby increase risk for the entire system or at the global level.

On scams still happening despite laws requiring business entities to keep money trail transparent, Mukherjee said, The governments and regulators can lay rules and frameworks, but cannot mandate integrity and ethical conduct.

On Direct Taxes Code (DTC), the minister said, it would make the tax legislation progressive in line with global norms and best practices. According to him, the new code was more simplified without room for ambiguity and ensures more transparency in the system.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Work Flow Workflow Software Software Automation Workflow automation Software Design Workflow Design Business Work Flow Workflow automation tools

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions