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  1. this publication are the views of the Ind AS (IFRS) Implementation Committee and are not necessarily the views of the Council of the Institute. The purpose of this publication is. to provide guidance for implementing this Ind AS effectively by explaining the principles enunciated in the Stan.

  2. Indirect Taxes Committee of the Institute of Chartered Accountants of India (ICAI) has revised its publication “Bare Law on GST Act(s) and Rule(s)”, which is a compilation of GST Act(s) [CGST Act, IGST Act, UTGST with Amendments Act] and Rules as amended from time to time

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  4. Further details of these initiatives are available at www.icai.org and http://isa.icai.org. This initiative has been started considering the demand from ISA qualified members to provide the initial hand-holding to enable them to practice in this emerging area.

  5. The Institute considering the importance of ITC concept has decided to bring publication on “Background Material on Seamless Credit” which contains detailed discussion on Input Tax Credit mechanism (e.g. meaning, purpose, effect, conditions, negative list, comparison with earlier law, etc). Efforts put in by CA.

  6. Board of ICAI has been issuing various Technical Guides on auditing aspects for the benefit of the members. I am happy that the Board has brought out this “Technical Guide on Audit of Urban Improvement Trusts and Development Authorities”. The Technical Guide has been written in simple and easy to

  7. The PDC of ICAI has already issued the letters to all the State Governments for conducting the training programmes and the meetings are also being held from time to time. It is expected that the first training

  8. E-mail : congos@icai.org Website : www.icai.org Price : ` 100/- ISBN : 978-81-8441- 594-0 Published by : The Publication Department on behalf of the Institute of Chartered Accountants of India, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi - 110 002. Printed by : Sahitya Bhawan Publications, Hospital Road, Agra - 282 003.

  9. Sectors (CCONPO) of the Institute of Chartered Accountants of India (ICAI) has come up with a book on fund raising by not-for-profit organizations for assistance of members and other stakeholders.

  10. ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi- 110 002. Printed by : Sahitya Bhawan Publications, Hospital Road, Agra 282 003. June/2009/1500 Copies . iii FOREWORD The importance of international trade cannot be ignored. It has served as a platform for "globalization". Traditionally trade was regulated through bilateral treaties between two nations. For