BCASNewsletter R10

1December 2017

7, Jolly Bhavan #2, New Marine Lines, Mumbai - 400020. Tel : + 91 22 613 77 600 ; Email : [email protected] ; Website : www.bcasonline.org

Vice-President’s Communiqué

Harnessing Talent and Providing Quality Service A Monthly Newsletter of the Bombay Chartered Accountants’ Society

BCASNewsletterFor Members only. For Private Circulation only. Price: R10

(Continued on page 2)

President: Narayan R. Pasari 98200 38095 | [email protected]

Vice-President: Sunil B. Gabhawalla 98213 23921 | [email protected]

Hon. Jt. Secretary: Manish P. Sampat 98200 10064 | [email protected]

Hon. Jt. Secretary: Abhay R. Mehta98202 28182 | [email protected]

Hon. Treasurer: Suhas Paranjpe 98690 74643 | [email protected]

Vol. 20 n No. 09 n DECEMBER 2017

Watch, Like, Share, Connect with us @ BCAS Global

LECTuRE MEETiNG

Speaker: Mr. Jayakumar – IPS ( Additional Commissioner of Police )

Subject: Combating Economic Offence & Financial Crimes - Role of Finance

Professionals

Venue: BCAS Hall, 7 Jolly Bhavan No. 2, New Marine Lines, Mumbai

Day, Date & Time: Wednesday, 20th December, 2017 at 6.15 p.m.*

*(Fellowship over a cup of tea at 5.45 p.m)

Dear Members

A few days back, I had the occasion to hear the key note address of Mr. Pascal Saint-Amans, Director, Centre for Tax Policy and Administration of OECD. In a wonderful speech, he highlighted the emerging global tax trends including the proposed US Tax Reform. He also highlighted the risks of some countries diverging from the general consensus amongst nations to converge tax policies. In the context of equalisation levy, he inter alia referred to India as an impatient economy, bringing about unilateral amendments on issues which are on the discussion board at the OECD. The same evening, I was walking on a footpath and was suddenly taken aback by a motor bike plying on the footpath and that too in the wrong direction. The remarks of impatience earlier during the day echoed back in my mind. I started thinking – are we really impatient? While the Government will have its’ priorities in terms of tax collections, couldn’t the motor bike rider have patience for his turn on the road?

Be it the airport queues or the queues at the food counters in marriages, impatience runs deep in our blood. Impatience forced many parents to prepone the birth date of their child to time it well with admissions in the school. Students aspiring for competitive exams book classes at least a few years in advance. Is it really required? How does a parent expect a child in Grade 5 to know whether his interest lies in engineering or medicine or a particular field? Is it not impatience of the

parent to visualise his child as a professional much before his age? It’s the same impatience which instigates a teenager to start riding a motor bike before the legally permitted age. As parents, we all know the consequences, but perhaps impatience emerges the winner.

Impatience is also beamed regularly on media. Where is the patience when a bunch of speakers on a television debate speak simultaneously and respond to other speakers even before the other speakers have completed? Utter Chaos prevails and perhaps a news channel becomes a noise channel only carrying noise and no voice.

The social media has intensified this impatience. Having sent a message on Whatsapp, the sender impatiently waits for a response from the receiver. The moment a photograph is uploaded on Facebook, we start spending time checking

Lecture Meeting: Combating Economic Offence & Financial Crimes

- Role of Finance Professionals.......................................20.12.2017.................... BCAS Hall, 7, Jolly Bhavan No.2, New Marine Lines, Mumbai............................. 0 1

Non-Residential Study Course on Ind AS.........................................21.12.2017, 22.12.2017.........Hotel Novotel, Juhu Beach, Mumbai............................................................................03

Data Analytics for Audit And Business Decision Making- Hands on Training Workshop.............................................................................22.12.2017.....................BCAS Hall, 7, Jolly Bhavan No.2, New Marine Lines, Mumbai................................04

51st Residential Refresher Course (RRC)............................................ 11.01.2018 to 14.01.2018..... Hotel Dreamland, Mahabaleshwar..........................................................................................06

16th Residential Leadership Retreat......................................................... 23.02.2018, 24.02.2018........ Rambhau Mhalgi Prabodhini, Keshav Shrushti, Bhayander (W) Dist Thane .............08

8th Ind AS Residential Study Course......................................................... 22.02.2018 to 24.02.2018...The Gateway Hotel (Taj), Hinjewadi, Pune ............................................................ ..16

5th Youth Residential Refresher Course................................................09.03.2018 to 11.03.2018.....upper Deck Resort, Lonavla.........................................................................................16

PROGRAMMES AT A GLANCE DATE VENuE PAGE NO.

Please check your spam to see if any BCAS emails you have missed. Tick not spam. In case you are not receiving emails,

please feel free to write to our IT Team at [email protected] or contact Mr. Nikhil Hatiskar at +91 22 61377617

2 December 2017

(Continued from page 1)

ALL THE THREE CLiNiCS WiLL BE HELD iN THE LiBRARy Of THE SOCiETy

RIGHT To INfoRMATIoN CLINIC

CHARITABLe TRuST CLINIC

Advisory Panel : Hema D. SampatClinic Co-ordinator: Mrs. Madhuri Haware – 61377613

Advisory Panel : Dr. Gautam N. Shah and CA. Tushar K. DoctorClinic Co-ordinator: Mrs. Madhuri Haware – 61377613

Foundation operates a Right to Information (RTI) Clinic on a regular basis. The Clinic provides help and guidance to BCAS members as also to non-members, i.e., all citizens, for making applications under the RTI Act and also assists in resolving any related difficulties on the subject of RTI. The RTI Clinic operates on Saturdays from 11 am to 1 pm. The next RTI Clinic days accordingly are – 23rd and 30th December, 2017 and 13th, 20th and 27th January 2018. Please call to obtain a prior appointment.

The next Charitable Trust Clinic will be held on 5th January 2018 from 5 pm to 7 pm.

Chartered Accountants and Trustees interested in having their queries solved are requested to send their queries by email to [email protected] and call to obtain a prior appointment, latest by noon on the day of the clinic. Querists are also advised to bring along relevant papers like trust deeds, audited accounts, etc.

ACCouNTS & AudIT CLINICAdvisory Panel : CA. Sanjeev R. Pandit, CA. Himanshu V. Kishnadwala, CA. Jayesh M. Gandhi Clinic Co-ordinator : Mrs. Madhuri Haware – 61377613 The next Accounts & Audit Clinic will be held on Saturday, 6th January 2018 from 4 pm to 5 pm. Persons interested in having their queries pertaining to implementation of Accounting Standards, Ind AS implementation, Auditing Standards Reporting requirements, Companies Act compliance, issues relating to Accounting aspects and Auditing aspects, etc. are requested to send their queries by e-mail to [email protected] one week in advance and call to obtain prior appointment, at least a day before the day of the clinic. Please note that the panel will not answer any queries pertaining to tax issues.

likes and comments. The time we spend on desperately checking for responses and the myriad of feelings which we go through during the interregnum may perhaps be unjustified. Aren’t we impatient? Perhaps, this is driven by the urge to instant gratification.

In childhood, we were taught that patience is a virtue whereas impatience is a vice. The chronically impatient like to waste their time and energy on situations that are of absolutely no consequence. In a zeal to save a few minutes, they break processes and rules and cause substantial waste of time and energy of others as well. And for all you know, due to the confusion and chaos, the impatient also do not end up saving any time or energy.

In the context of business and leadership, perhaps there is a theory that actually impatience is a virtue rather than a vice. Impatience is at times equated with fire in the belly or the urge to do something new, something faster than others. After all, the entire concept of first mover advantage has the idea of impatience built into it. To that extent, used in moderation, impatience can be a virtue. What is perhaps important is whether the impatience drives you to work within the set principles and processes and regulations or forces you to disregard the environment?

For most Mumbaikars, December represents a welcome respite from the generally hot and sultry weather. Temperatures are more moderate and its’ time to enjoy the

pleasant climate. At the same time, the occasional smog warns us to be more careful that we do not end up in a situation similar to Delhi.

As the year draws to a close, December also represents time to reflect back and analyse the achievements and disappointments of the year. It also represents time to make new promises to self. For many of us, it is also a time to spend quality time with our families on vacation.

The flagship Residential Refresher Course (RRC) is now in its’ 51st version and enrolments have picked up well. We are in the last lap of enrolments and hence time is really ticking out. In fact, an innovative session in the form of a panel discussion on practice management – challenges and opportunities has been organised as a part of this RRC. The Sixteenth Residential Leadership Retreat based on the Theme of “Saptapadi of Happiness in Family” will bring the non technical balance to this academically heavy period. I would urge the members to enrol in large numbers and take benefit of these events.

Wishing you a wonderful Christmas and a Happy and Prosperous New Year, I remain

Yours truly

CA. Sunil Gabhawalla

3December 2017

NoN-ResideNtial study CouRse oN ind as oN 21st & 22Nd deCembeR, 2017 at Hotel Novotel, JuHu beaCH, mumbai-400049

aCCouNtiNg & auditiNg CommitteeChairman: CA. Himanshu V. Kishnadwala

Convenors: CA. Amit Purohit, CA. Chirag Doshi & CA. Nikhil PatelCourse Co-ordinators : CA. Chirag Doshi & CA. Nikhil Patel

Dear Members,

The Financial Year 2016-17 has already heralded a new era of financial reporting in Indian corporate sector. Indian Accounting Standards (Ind AS) complied financial statements have been prepared by the companies covered under Phase I of the implementation of Ind AS.

Further the Phase II companies, Banks, NBFCs and Insurance companies are required to prepare Ind AS compliant Financial Statements from F.Y.2017-18 and thereafter.

The adoption of Ind AS has catapulted India at the centre stage of high quality and transparent financial reporting. The journey of convergence to IFRS has been started ten years ago and BCAS has been a front runner in equipping its members and other stakeholders at large with the knowledge of IFRS and Ind AS since past few years.

The Ind AS framework notified by the Ministry of Corporate Affairs (MCA) in 2015 includes three standards on financial instruments, Ind AS 109, Financial Instruments, Ind AS 32, Financial Instruments: Presentation, and Ind AS 107, Financial Instruments: Disclosures. The guidance provided in these standards is extensive and often complex in nature, requiring significant discussion and interpretation along with exercise of judgement. This study course covers some of the practical issues that Indian companies may face while implementing these standards.

This study course includes case studies relating to classification and measurement of financial assets and liabilities, covering transactions such as interest-free loans, factoring arrangements and restructuring of loans etc.

Ind AS 109 also requires companies to assess impairment of financial assets based on an ‘expected credit loss model’, which is covered by way of case studies related to the application of ‘Expected credit loss model’.

Companies including Banks, NBFCs and Insurance companies that have to transition to Ind AS from the financial year 2017-18 onwards may face challenges in compiling the extensive disclosures relating to financial instruments that are required to be presented in their first annual Ind AS financial statements, derivative and hedge accounting and other implementation challenge, which shall be discussed during this 2 day Non-residential study course.

time : 9 a.m. to 5.30 P.m. (both days)

the enrolment is restricted to 80 participants only.

Sr. No Subject Paper Writers

1 Case Studies on Financial Instruments - Classification( Business Model) and Measurement

CA. Rukshad N. Daruvala

Paper for Group Discussion

2 Case Studies on Financial Instruments on ECL Model CA. Charanjit Attra Paper for Group Discussion

3 Derivatives and Hedge accounting CA. K. G. Pasupathi Presentation Paper

4 Ind AS 101 First Time Adoption CA. Manoj Kumar Vijai Presentation Paper

5 Disclosure related to Financial Instruments and Other related Disclosures CA. Manan Lakhani Presentation Paper

6 Ind AS – 109 – Implementation Issues & Issues on account of Insolvency & Bankruptcy Code

Eminent Faculty Panel Discussion

fEES Member R8,496

Non-Member R9,912

Including GST @ 18% and R50 contribution to the BCAS Foundation.

Not receiving Hard Copy of Journal?Do write to us with your current contact information: address, phone number and E-mail.

Or just call BCAJ at 022-6137 7600 or email: [email protected]

KNOW YOUR BCA JOURNAL

4 December 2017

data aNalytiCs foR audit aNd busiNess deCisioN makiNg-HaNds oN tRaiNiNg WoRksHoP oN fRiday, 22Nd deCembeR 2017

HumaN develoPmeNt aNd teCHNology iNitiatives CommitteeChairman : CA. Rajesh Muni, Co-Chairman : CA. Mihir Sheth

Convenors : CA. Mukesh Trivedi, CA. K. K. Jhunjhunwala, CA. Nikunj Shah & CA. Anand KothariProgramme Co-ordinator: CA. Nikunj Shah

Dear Member,

Have you been using Excel since long and are passionate to take your analytical skills to the next level? This thoughtfully designed, power packed training program will ensure that you get a complete hang on select, cutting-edge Excel functionalities. But that’s not all. By the end of the session, you shall also learn to apply these functionalities in real world business and audit situations and interpret results.

Workshop Objective:-

To enable participants leverage advance Excel functionalities for Audit Analysis & business problem solving, is the objective of this unique one day training program.

Workshop exclusively designed for

1. Managers and Executives (across industry segments) in MIS, Production, Marketing Analysis, Procurement, Financial controllers/Finance staff, Project managers, Sales managers, business and financial analysts who create reports, analyzes data, or use spreadsheets in their work and who need to take business decisions based on analysis of data

2. Chartered Accountants and team members in Audit function

3. Since this workshop focuses on analytical, reporting and business problem solving skills, it is especially useful to people who report to Managers and/or Key Decision makers.

Note:-

1. This being hands-on training workshop, participants shall get their own Laptops with MS Excel preloaded.2. Enrolment restricted to a small group, to facilitate interaction, discussion and hand holding. 3. Expect advance techniques in Excel from the program; so those hands-on with Excel shall enroll.

Day & Date Friday, 22nd December 2017

Time 9.30 a.m. To 6.00 p.m.

Venue BCAS, 7, Jolly Bhavan No. 2, New Marine Lines, Mumbai 400020

Fees Member Non-Member

R2250 + R405 (GST) = R 2,655 R 2500 + R450 (GST) = R2,950

The above fee includes GST, contribution of R50 towards BCAS foundation, cost of study material, breakfast, tea, coffee and Lunch

Session i • Data Analytics for Business Decision Making

CA. Nikunj S. Shah, Mumbai

Session ii • Data Analytics for Audit & Investigations

CA. Saran Kumar, Hyderabad

5December 2017

6 December 2017

7December 2017

8 December 2017

sixteeNtH ResideNtial leadeRsHiP RetReat 2018

Man is constantly in search of happiness. Every year HDTI Committee organizes Residential Leadership Camp on varied subjects. This has assisted many of the regular participants to find the meaning in life and become better human beings. The HDTI Committee now announces the “Sixteenth Leadership Residential Retreat 2018” based on the theme ‘Saptapadi of happiness in family’ (Seven Steps to family happiness). It will also touch upon ways to build Family brand in profession, vocation or business. The Retreat will be held in February spread across 2 days and 1 night.

The learned faculty Shri Mahendra Garodiya, (who guided us in the Fifteenth non Residential Leadership Workshop 2017 on the theme of Chanakya Business Sutra) has again consented to anchor the programme this year.

(Saptapadi) Seven steps based on our time tested values and culture are: Common Vision, Success Habits, Accountability, Un-conditional Love & Respect, Appreciation, Family as a brand and Celebration together.

Takeaways:Through this Workshop, the participants will experience and rediscover this profound knowledge and learn how to apply it in current turbulent times. It how to be happy prosperingmaterially in ethical and humanitarian mannerand with inner happiness. It will resound that prosperity and happiness are not mutually exclusive. It aims to guide the participants to share happiness with family, society, in profession and work environment.

Members are encouraged to register for this workshop with their spouse.

The learned faculty will help the participants to develop personal family programmes including a detailed schedule of implementing the lessons learnt during the workshop.

Program Details:

*Contribution per Member is inclusive of One night, Two days stay, Breakfast for two days, Lunch for two days, Dinner for one evening, Study Material and contribution of R50 towards BCAS foundation and Transport on Car pool facility .

Please note number of participants are restricted to only 40 on First Come First Served basis.

About the faculty:

Mr. Mahendra Garodiya has authored “Chanakya Business Sutra” and “What’s Stopping your Growth” and is a Management Accountant (CMA/ICWAI). He has been a Business Coach to more than 100 SMEs across India helping them grow based on Ancient Indian Management Knowledge. His coaching relies primarily on the Indian Philosophy of Management as propounded by Chanakya.

Mr. Garodiya has intensely focused on Chanakyaniti and Gandhian principles of Management. He qualified as a business coach through the ICF Certification programme and has conducted programmes for IIT, Ahmedabad Management Association, Swami Vivekanand College of Management & Research, Sanchi University, Kolhapur University and many other reputed institutions. Mr. Garodiya has trained more than 1,000 business entrepreneurs and is currently growth partner for 15 companies in varied fields.

Days friday & Saturday

Dates 23rd and 24th february 2018

Venue: Rambhau Mhalgi Prabodhini, Keshav Shrushti, Bhayender Esselworld Road, Bhayender -West, Dist Thane

faculty: Mr. Mahendra Garodiya

Participation fees (per person)*

R5,085 plus GST @18% R915= R6,000for Members and Spouse Jointly (each)

R5,508 plus GST @18% R992= R6,500 Members registering individually

R5,932 plus GST @18% R1,068= R7,000 for Non-Members

HumaN develoPmeNt & teCHNology iNitiatives Committee

Chairman: CA. Rajesh Muni Co-Chairman: CA. Mihir C. Sheth

Conveners: CA. Mukesh G. Trivedi, CA. Krishna Kumar Jhunjhunwala, CA. Nikunj Shah, CA. Anand Kothari

9December 2017

enrolment form Sixteenth Residential Leadership Retreat 2018

BCAS Membership No (If Applicable)……………………………........................................................................................................................................................................................................................................................………..Mr. / Ms.…………………………............................................................................................................................................................................................………............................................................................................................................................of (firm name)………………………….....................................................................................................................................................................................................................................................................................................................………..Address …………………………................................................................................................................................................................................................................................................................................................................................………..…………………......................................................................................………………….....................………….…………………………Pin Code………………..................................................................................................................................................……....Email:…………………………............................................................................................................................................................................................................................................................................................................................................………..Tel (O)……………....………..……...........................................………. Tel (R)…………...............................................................………………. Mobile No:…………......................................................................................................................………..Choice of food (wherever applicable) Jain :- ................................................................................................................Veg :- ............................................................................................................................................We enclose herewith

Please find below NEfT details Bank Name : Axis Bank Ltd. Branch : New Marine Lines, Mumbai - 400020Saving Account No : 233010100179485 IFS Code : uTiB0000233Swift Code : AXiSiNBB173

Note: An email communication on transfer of funds through NEfT to be communicated at [email protected] for processing the payment. Registration will be confirmed only post email intimation.Date :______________________________ Signature of Participant

Cash/Draft/ Cheque no : Drawn on :Dated : Amount Rs.

Note:

• Please fill in the above form and send the same to the Society’s office along with requisite payment.

• Payment Mode can be: Cheque / Demand Draft / Cash or Electronic Card (at BCAS office only).

• Please mention your name and membership number (if applicable) on the reverse side of the Cheque/ Demand Draft.

• Kindly note that the cash counter timings are from 10.30 a.m. to 5.30 p.m. on Monday to Friday and 10.30 a.m. to 1 p.m. on Saturday. The lunch time

is 1.30 p.m. to 2 p.m. Participants are requested to co-operate in this regard.

• the Cheque/ dd will be in the name of “bombay Chartered accountants’ society”. Your participation will be confirmed only after the

realization of payment at BCAS, for which a receipt will be provided for your reference.

• Cancellation policy: Kindly note that no refund will be given in case of cancellation for any reason and no substitute will be allowed.

bombay Chartered accountants' society

• Email – [email protected] • Website – www.bcasonline.org • E-Journal – www.bcajonline.org

10 December 2017

PubliCatioN PubliCatioN Name disCiPliNe WHo CaN beNefit autHoRs membeR PRiCe

OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations

income Computation and Disclosure Standards- A Practical Guide

Audit Checklist for Companies (for unlisted Companies not following indAS)

PAyMENTS TO NON-RESiDENTS – A Guide On Reporting Tax Deduction At Source under Section 195

Golden Jubilee Residential Refresher Course Nostalgia

BCAS Referencer 2017-18

fAQs on Accounting Standards

Monograph Series 2017a) Competition Law – A Primerb) Corporate Social Responsibilityc) freedom and Restrictions on

speech and expression in social media in the light of the recent Supreme Court decision

d) india’s Law on Prevention of Sexual Harassment at Workplace

e) SEBi (Prohibition of insider Trading) Regulations, 2015

Transfer Pricing

Tax Audit

Auditing

Tax Deduction At Source Under Section 195

A Collection of memories

Accounting & Auditing, Direct Taxes, Indirect Taxes, Company Law & Other Laws

Accounting Standards

Corporate & Allied Laws

Members R2000Non-Members R2300Postage Chargesin Mumbai R65Outside Mumbai R150

Members R500Non-Members R700PostageCharges R150

Price R150PostageCharges R35





Chartered Accountants, Trade & Industry Professionals

Chartered Accountants, Audit Professionals, Trade & Industry Professionals.

Chartered Accountants, Audit Professionals, Trade & Industry Professionals

Chartered Accountants, Legal Professionals, Trade & Industry Professionals

Anyone

A handy compilation of all laws for every professional


Any one

OECD and BCAS (Publishers)

CA. Anil Doshi, CA. Devendra Jain, CA. Ganesh Rajgopalan, CA. Rajesh Athavale, CA. Sanjeev Lalan, CA. Sonalee Godbole

CA. Raman H. Jokhakar, and CA. Nalin M. Shah

CA. N. C. Hegde, CA. Mallika Apte and CA. Risha Gandhi

Various Compilers

CA. Zubin F. Billimoria Adv. Preetha S. Adv. Vikram Shroff CA. CS. Sanjeev Shah CS. Ruchi Shah Mr. Varun Thakur, 4th

year student, BA, LLB Ms. Alankrita Singh, 4th

year student, BA, LLB

• CA. Himanshu V. Kishnadwala • CA. Abhay Mehta • CA. Amit A. Purohit • CA. Ashutosh A. Pednekar • CA. Gautam Shah • CA. Manish P. Sampat • CA. Paresh H. Clerk • CA. Vipul K. Choksi • CA. Nikhil Patel • CA. Zubin Billimoria • CA. Sandeep Shah • CA. Suril V. Shah • CA. Mitesh J. Majithia • CA. Kruti Sangoi • CA. Mukesh Trivedi • CA. Anil Saxena • CA. Nalin Shah

BOmBAY CHARteRed ACCOUNtANts' sOCietYPubliCatioNs at bCas

Price R250Postage Charges In Mumbai R65outside Mumbai R100

11December 2017

e-Publicationunion Budget 2017 - An analysis by BCAS English

Analysis on Budget free e-PublicationEvery individual whether a professional, or an entrepreneur or a housewife or student .., Libraries, Universities, Colleges, Institutions / Associations / Forums / Societies / Councils / Bodies of professionals / individuals guiding / capable of guiding people, ….

Contributors

e-Publicationunion Budget 2017 - An analysis by BCAS Gujarati

Analysis on Budget free e-PublicationEvery individual whether a professional, or an entrepreneur or a housewife or student .., Libraries, Universities, Colleges, Institutions / Associations / Forums / Societies / Councils / Bodies of professionals / individuals guiding / capable of guiding people, ….

Contributors

e-Publication Rules of interpretation of Tax Statutes

Law free e-PublicationChartered Accountants, Legal Professionals, Trade & Industry Professionals

Advocate N. M. Ranka

e-Publication The Direct Tax Dispute Resolution Scheme 2016 – An Analysis

Direct Taxation free e-PublicationChartered Accountants, Legal Professionals, Trade & Industry Professionals

CA. Saroj Maniar

internal Audit - Practical Case Studies

Internal Audit Price R400PostageCharges R35


CA. Deepjee Singhal CA. Manish Pipalia

Non-Banking financial Companies – A Treatise

NBFC Regulations Price R500PostageCharges R35


CA. Bhavesh Vora CA. Zubin Billimoria CA. Hardik Chokshi CA. Gautam Shah CA. Heneel Patel

Partnership firms Registration Procedure and frequently faced issues with Registrar of firms

Indian Partnership Act, 1932


Tax Payers, Chartered Accountants in Practice, Legal Professionals, Compliance Professionals, Students, Accountants, Libraries, Universities, Colleges and other institutions

CA. Uday Sathaye

GiTA for Professionals in English

Inspirational Price R75PostageCharges R35

Chartered Accountants, Legal Professionals, Students and Citizens at large.

CA. Chetan Dalal

PubliCatioN PubliCatioN Name disCiPliNe WHo CaN beNefit autHoRs membeR PRiCe

BOmBAY CHARteRed ACCOUNtANts' sOCietYPubliCatioNs at bCas

12 December 2017

13December 2017102 BOMBAY CHARTERED ACCOUNTANT JOURNAL SEPTEMBER 2017

786 (2017) 49-A BCAJ

14 December 2017

Mr. / Mrs./ Miss.

CITY: STATE: PINCODE:

COUNTRY: MOBILE: Tel (O) :

EMAIL ID: Tel (R) :

DATE OF BIRTH: (DD/MM/YYYY) BLOOD GROUP:

ICAI REGN. NO. : ICAI REGN. DATE: (DD/MM/YYYY)

GENDER : MALE / FEMALE FROM INDUSTRY / PRACTICE

GSTIN*

Bombay Chartered Accountants’ Society7, Jolly Bhavan No.2, New Marine Lines, Mumbai 400020. Tel: 61377600

E-mail: [email protected] Website: www.bcasonline.org E-Journal: www.bcajonline.org

MeMBeRSHIP / SuBSCRIPTIoN foRM

Affix photo

here

fEE DETAiLS: [ANNuAL SuBSCRiPTiON]

Details iCAi Member prior01.04.2013

iCAi Member after01.04.2013

Select Option

BCAS Membership

Ordinary1

With Journal

Entrance Fee 1,180.00 590.00

Membership Fees 1,770.00 1,770.00

Life Membership (without Journal) 1 11,800.00 11,800.00

Life Membership (with Journal) 1 , 2 13,000.00 13,000.00

Journal Subscription 2 1,200.00 1,200.00

Details 1 Year 2 Years 3 Years

Student Membership [ Membership, e-journal, Study

Circle, Discount on selected events] 1

500.00 800.00 1,000.00

1 The above fees are inclusive of Goods and Service Tax. The rates are subject to change basis notification from time to time.2 6 months and 9 months, proportionate fees for Membership and journal Subscription available.

Newsletter by Post/Courier Email | We shall send our notifications by SMS: yes/No

Payment DetailsCash/Cheque/Draft of Rs. …………………………...................................................................................………………………..drawn on ………………….............................................................……………...........………..bank,………………....................................................................................................................……….Branch, Cheque/Draft No………………....................................…………………………………….Dated………..........………..……………..Date:_______________________________________________________________ Sign:__________________________________________________________

Note:1. Outstation payments to be made by Demand Drafts only. Payable at Mumbai. Now you can pay online on www.bcasonline.org 2. Cheques/Draft should be drawn in favour of “Bombay Chartered Accountants’ Society”.3. Please attach a photocopy of Membership Certificate of The Institute of Chartered Accountants of India.4. Office timing: 10.30 a.m. to 1.30 p.m. and 2.00 p.m. to 5.30 p.m.

• In case of new members and renewals of existing membership, the recipient of the supply can be the member only. Therefore, only the GST registration number of the member ( and not the firm) will be recognized. in case the member is not registered under the GST Law, the same shall be treated as B2C Transaction. it may also be stressed that all pending renewals which are renewed after the transition date will be liable for GST.

(for Individuals)

[IN BLOCK LETTERS PLEASE]

15December 2017

From rBIContributed by : Gaurang V. Gandhi

The Reserve Bank of india has issued the following 2 Circulars

BoMBAY CHARTeRed ACCouNTANTS’ SoCIeTY - STAff CONTACT DETAiLS

Sr. No Name Role Email iD Direct Line

1 Ms. Mamta VarmaMember Relations Executive

Membership, Imprest, Publications andOnline Payments

[email protected] 61377616

2 Mr. Manoj Lokhande, Front Desk Executive Enrollments and Collections [email protected] 61377629

3 Mr. Prakash Palsamkar, Front Desk Executive Enrollments and Collections [email protected] 61377629

4 Ms. Khushali Brahmbhatt Communication Manager [email protected]

61377635

5 Mr. Javed Siddique, Events Manager Co-ordinator for Lecture meetings, Seminars, Workshops & Residential Courses


6 Mr. Bilal Ansari, Asst. Event Manager Co-ordinator for Lecture meetings, Seminars, Workshops & Residential Courses


7 Ms. Reema Pawar, Events Executive Co-ordinator for meetings and study circles at BCAS office


8 Mr. Manoj Singh Graphics Designer for Announcements, Standees, Banners etc


9 Mr. V. K. Sharma, Knowledge Manager Journal & Newsletter Production [email protected] 61377619

10 Ms. Madhuri Haware,Asst. Knowledge Manager

Journal & Newsletter Production [email protected] 61377613

11 Ms. Rathi Nair, Secretary to President Executive Assistant [email protected] 61377612

12 Mr. Upendra Hisaria, Office Manager General Office Administration & Escalations and all other matters not mentioned above


A. P. (DiR Series) Circular No. 12 dated November 16, 2017

Exim Bank's Government of india supported Line of Credit of uSD 500 million to the SBM (Mauritius) infrastructure Development Company Ltd.

Exim Bank has made available, subject to certain terms and conditions, to the SBM (Mauritius) Infrastructure Development Company Limited, a Line of Credit of US $ 500 million for financing its participation through Redeemable Preference Shares in public sector entities to implement infrastructure or other projects in Mauritius. Eligible goods and services of the value of at least 75% of the contract price must be supplied by the sellers from India, while the remaining 25% of the goods and services can be procured by the sellers from outside India.

The terminal utilization period for the credit is 60 months after the scheduled completion date of the project.

A. P. (DiR Series) Circular No. 13 dated November 16, 2017

Exim Bank's Government of india supported Line of Credit of uSD 81 million to the Government of the Republic of Rwanda

Exim Bank has made available, subject to certain terms and conditions, to the Government of the Republic of Rwanda, a Line of Credit of US $ 81 million for financing the setting-up of 10 Vocational Training Centers and 4 Business Incubation Centers in the Republic of Rwanda. Eligible goods and services of the value of at least 75% of the contract price must be supplied by the sellers from India, while the remaining 25% of the goods and services can be procured by the sellers from outside India.

The terminal utilization period for the credit is 60 months after the scheduled completion date of the project.

16 December 2017

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