News: Mentors and Monitors of Service Tax, themselves being monitored

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posted by servicetaxonline 945 days ago
Frequent changes in Amendments disturb stability of mind of the CAs According to Mr. Pamil H. Shah (CA), Hon. Secretary, Chartered Accountants’ Association, Ahmedabad, our Government every year makes changes in Amendments sometimes they add some new Laws and sometimes they exempt the previous one. This revise nature of Government only hampers the stability of mind of the CAs. The Chartered Accountants find disturbance in order to concentrate fully on their wits due to duplication of work and the main reason is frequent changes of Policies. The CAs suggest that Government should stick on the Amendments at least for five years MIS & Internal Audits are expanding opportunities for the CA after the Satyam Case Fraud case in financial property of Satyam Company has made the companies vigil to be compulsory for their Internal Audits and Monthly Information Systems (MIS). This vigilance suggests companies to consult the experienced Chartered Accountants. Forensic Audit has become the required term to detect the frauds. But it should be fair enough if such Audit will only hand over to the CA as they are more qualified, knowledgeable and technical personals for the work. Government wants Companies the neat and white Income Statements which is only acted by the skilled workforce of finance. Mentors and Monitors of Service Tax, themselves being monitored The level playing field in advisory services has come into existence with effect from the date of implementation of the Finance Bill 2009 as per the interpretation of Mr. Monish Bhalla, CMD, Tax O Legal. Except for Service Tax on Personal Appearance in the Course of Litigations before appropriate Authorities, where the balance has slightly tilted towards the Lawyers. Here, the Rules of Game are different for different Players. But the fact remains that now the Mentors and the Monitors of the Service Tax are themselves being monitored by the big brothers sitting in the North Block ! For more details; please visit: http://www.servicetaxonline.com/news.php?newsid=94&pf=yes
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