The Institute of Cost Accountants of India

(Statutory body under an Act of Parliament)


Take up one idea. Make that one idea your life - think of it, dream of it, live on that idea. Let the brain, muscles, nerves, every part of your body, be full of that idea, and just leave every other idea alone. This is the way to success. Swami Vivekananda

My dear Professional Colleagues,

As we celebrate the New Year- 2018, I wish everyone success, a healthy long life and a fresh new start. Happy New Year!

I Congratulate CMA Dr. PVS Jagan Mohan Rao, Council Member of our Institute on being unopposed elected as Vice President of SAFA to take over w.e.f. 1st January,2018

Cost Accounting Standards Board of our Institute  has  released the Exposure Draft of Cost Accounting Standard – 4 (Revised 2017) on Cost of Production or Cost of Acquisition of Goods or Cost of Provision of Services [ED CAS-4 (Revised 2017)], replacing the existing CAS-4 . It is requested to the members to kindly offer their views to the Institute within 16th January,2018.


There is significant changes in GST Law in 24rd GST Council held on 16th December,2017.  Some of the important highlights are : s

(i)      Nationwide e-way Bill system for Inter-State movement of goods on a compulsory basis will be notified with effect from 1st February, 2018. This will bring uniformity across the States for seamless inter-State movement of goods.

(ii)    States may choose their own timings for implementation of e-way Bill for intra-State movement of goods on any date before 1st June, 2018. 

We have conducted workshops on GST at EIRC and Chapters located in Eastern Region to update our members .My request before our professional friends to convey the message of the amendments to their clients and Industry for branding our profession.

Under the IBC-2016 2,434 fresh cases have been filed before NCLT and 2,304 cases of winding up of companies have been transferred from various High Courts. Out of these, a total number of 2,750 cases have been disposed off and 1,988 cases were pending as on 30.11.2017. Sector looked upon by the Insolvency Professionals is getting importance day by day. I would request, our professional friends to increase our numbers in the days ahead and equip themselves with updated regulations.

During this month also we have conducted extensive Career awareness in both schools & colleges in Eastern region for improvement of the potential students in EIRC and Chapters by the untiring efforts of employees of EIRC and Chapters of Eastern Region. I would request our CMA family to come forward and extend positive support so that combined effort of members and executives can achieve 100% perfection towards our target during this year.

EIRC has organized four number of workshop on various  current topic of professional interest at its premises during December,2017. On 1st December,2017 CMA TCA Srinivasa Prasad, our Past CCM delivered his speech on the topic“ Productivity through Technology" . On 9th December’17 CMA Aloke Kr.Bardhan,Asstt.Director (Banking) SFIO ,Ministry of Corporate Affairs,Govt. of India  delivered his lecture on “Forensic Audit & Economic Fraud “ . It was also graced by CMA Biswarup Basu,CCM and CMA Shyamal Bhattacharya ,Vice Chairman,EIRC. On 14th December,2017 CMA Chiranjib Das , renowned Practitioner  has delivered on “GST – Latest issues" .  CMA Shyamal Bhattacharya,Vice Chairman has also graced this occasion . On 28th December, 2017, CS Ravi Verrma had delivered  on” Valuation Rules under the Companies Act’13”. I had also attended Annual Seminar organized by the Asansol  Chapter of Cost Accountants  on the theme “Making New India-Reform-Perform-Transform(CMAs Partnering India’s Growth) “ on 3rd December,2017 at Bharti Bhaban , Burnpur .  It was graced by our Vice President CMA H.Padmanabhan . CMA M.K.Thakur, CCM & IPP ,CMA Niranjan Mishra ,CMA B.Basu,CCM, CMA A.Goswami,CCM ,CMA C.V.Ramana,Secretary & Treasurer-EIRC and CMA B.Mukhopadhyay,IPC-EIRC.I had also attended the Annual Seminar organized by the Durgapur Chapter of Cost Accountants  on 17th December,2017 on the theme “ Transforming India” at Steel Club Auditorium ,Durgapur .Shri A.K.Rath,CEO ,SAIL ,DSP was the Chief Guest and Swami Vedatitananda, R.K.Mission was the Guest of Honour . President of our Institute  was also graced the occasion . I have also Chaired in a workshop arranged by the Howrah Chapter on 23rd December,2017 at their premises on “Recent Amendment in GST Laws – Impact & Implementation” which was been addressed by CMA Chiranjib Das, Renowned Practitioner. CMA Bibekananda Mukhopadhyay also graced the occasion and delivered a valuable notes in a great gatherings.

Taxation Committee of our Institute has announced 12 weeks Certificate course on GST (to be conducted on quarterly basis) for its members at all State Capital and also other 4 major cities in Eastern Region along with other places in all over India. We are expecting the formal announcement shall be made shortly.

We have already taken initiative on membership drive throughout the region by communicating with the members and explaining the benefits for continuance to be a valid member of the Institute.

We have also planned to publish monthly students e- journal through our web portal .Members are requested to give articles for publication in  the journal.

Happy New Year- 2018, ,Swami Vivekananda’s Birthday ,Netaji Subhas chandra Bose’s Birthday & 69th  Republic day of India to the members & their families.

With warm regards.


CMA Pranab Kr.Chakrabarty



Published on :01/01/2018