Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: empanelment :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: VAT RATES :: cpt :: ACCOUNTING STANDARDS :: form 3cd :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4%
 
 
News Headlines »
 Notification regarding extension of last date w.r.t submission of closing stock by dealer.
 Integrated Goods and Services Tax (IGST) Rules, 2017 (As on 15.11.2017)
 Central Goods and Services Tax (CGST) Rules,2017 (As on 15.11.2017)
  101st Constitution Amendment Act, 2016
 Pr. Commissioner Of Income Tax-6 Vs. Mccain Foods India Pvt. Ltd.
 Section 10 of the Income-tax Act, 1961
 Income tax returns filing: No tax on gift received from relatives in form of cash
 Income tax returns (ITR): Here is why you need to pay higher tax on other incomes
 GST Update On Issuance Of Debit Notes And Credit Notes
 How Mutual Fund Investments Can Help Save Income Tax
 Income tax returns (ITR) filing: Why small service providers need to get this benefit

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