Dear Members,

The vacation time is over now and as schools are open, all the members also must have resumed their routine work. As I had mentioned in my previous message our Association had a very successful and memorable 6th International Residential Refresher Course at Sri Lanka and Malaysia.

So far as our Association’s other activities are concerned for the month of May-June (partially), we thought to have a hiatus in view of the vacation period and possibility of most of our members going out on vacation.

Now, we are back and the Activities of our Association are also resumed. The Exhibition-cum-Sale of Books at Mazgaon Library (from 12th to 17th June, 2006) is over and at present it is going on at Bandra Library of our Association. Good numbers of members have taken the benefit of the same.

We have also announced our 15th and 16th Study Circle Meetings on 29th June and 6th of July, 2006 respectively.

You also must have received the circular, by the time you receive this Review in your hand, announcing Seminar on VAT Audit on 15th of July, 2006. Since the last date of submission of MVAT Audit Report is 30th November, it is high time to start MVAT Audit. And therefore, we have decided to hold the seminar for an in-depth study on the subject. I request all the members to take benefit of the same.

As far as our diary for the year 2006-07 is concerned it will be ready, most probably, by the end of this month. But we are informed by the Sales Tax Department that an ordinance covering vast gamut of subjects is ready and pending for the signature of the Governor. If by any chance it is delayed, we would distribute diary first and later on we would distribute Referencer, incorporating all the latest amendments.

So far as our representation of MVAT Audit to be allowed to be done by the large spectrum of professionals is concerned; i.e., not only to Chartered Accountants but to other professionals like Advocates, Sales Tax Practitioners etc. also, we are making regular representations before the various forums. We have also called a Core Committee meeting on 22nd June to chalk out the detailed plan of action on the issue, wherein members from outstations are also expected to attend in large numbers.

As I had mentioned in my previous message, the end of my tenure as the President is coming to nearer and nearer, I would like to assure that I shall be continue devoting my time for the Association and carry out all the work which is entrusted to me by the New President in particular and members in general.

Thanking you all,

Yours sincerely,