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 :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: due date for vat payment :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: TDS :: VAT RATES :: form 3cd :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: empanelment
 
 
News Headlines »
 How to link your Aadhaar and PAN details to file income-tax returns
 How to calculate capital gains tax on property sold at less than stamp value?
 Return Filing - Under GST, this is how you will file tax returns from July 1
 Income tax filing FAQs part 1
 Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
 Filing of online return for 4th quarter of 2016-17- extension of period thereof.
 New tax accounting standards may reduce leeway for infrastructure companies
 GST – CONCEPT & STATUS – As on 01st May, 2017
 Govt extends VAT deadline, relief for developers
 Income Tax Appellate Tribunal Rules, 2017
 Got your Form 16? You should file income tax returns early to enjoy benefits

SC directs, to submit revenue share details to CAG
August, 02nd 2010

The Supreme Court today directed private telecom firms to give their financials to the government auditor CAG, but stopped the auditor from vetting the papers till a case on jurisdiction was decided by the High Court.

A bench headed by Chief Justice S H Kapadia directed the members of GSM lobby COAI to give revenue sharing details to the country's top auditor within two weeks from today to ensure ensure that the government was getting its due by way of licence fee.

The apex court, however, said that no audit would be done as the matter on CAG's jurisdiction to audit the accounts of private telecom companies is still to be decided by the Delhi High Court.

Till the hearing of the petition in High Court is pending, no steps shall be taken by CAG to carry audit of financial accounts based on the documents given by them (private telcos), the bench said.

"Each of the members of COAI, within two weeks must furnish to the Comptroller and Auditor General (CAG) copies of revenue sharing details," stated the bench, which also consisted Justices K S Radhakrishnan and Swatantar Kumar.

The court also said if CAG requires any further documents, the operators would have to provide them.

During the hearing, counsels appearing for CAG informed that some of the operators including Tatas have already submitted their revenue sharing details, while some other operators like Bharti are yet to do so.

The Delhi High Court had asked the telecom companies to submit their account books to CAG. CAG had been asked by the Centre to check if there was any under-reporting of revenue for calculating the licence fee.

The two telecom lobby groups -- COAI (GSM operators) and AUSPI (CDMA players) -- had challenged the recent CAG direction to the telcos to submit their revenue sharing details for auditing.

On May 20, telecom tribunal TDSAT had declined a request from Bharti Airtel and Vodafone to stay the CAG audit.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Quality Assurance Services Testing and Re-testing

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