GST Scam unearthed in Haryana: Two CAs Arrested, Seven Tax Officials Suspended
Read more at: http://www.taxscan.in/gst-scam-unearthed-in-haryana-two-cas-arrested-seven-tax-officials-suspended/27746/
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Capital Market Updates
September 03 - September 09, 2018
1. ⛓ *National Aluminium Company (NALCO)* declared its highest-ever dividend of 114% as net profit for FY18 doubled. The management has states that FY19 has also started on a good note. BUY.
2. 💰 Rural Electrification Corporation (REC) and Power Finance Corporation (PFC) have been included in the S&P Nifty 100. With some resolution to delayed payments by power companies, REC and PFC may soon write back provisions and show much higher profits. BUY.
3. 🛢 The government is contemplating raising natural gas prices by ~14% by October this year. Major producers Reliance Industries and Oil & Natural Gas Corporation stand to gain the most. BUY.
4. ⚗ The discussions of weekly subsidy system to fertilizer companies are likely to boost GSFC and GNFC.. BUY both the stocks.
5. 📽 PVR is on a buying spree. After acquiring SPI Cinemas from the southern region, it is now on the verge of acquiring the Wave group from the North. BUY.
6. 🏗 NBCC is eyeing an order book growth of 30% this year. It seems that the market has overlooked the prospects of the company. BUY for the long-term.
7. 🏍 Royal Enfield has unveiled a new model of its motorcycle. A big positive for Eicher Motors.
8. 🛢 Mining giant Vedanta has bagged 41 out of 55 oil & gas exploration blocks offered recently. Its future appears bright and this stock deserves a place in every portfolio. BUY.
9. 🏭 Higher demand for coal has resulted in higher imports. Coal India will be a big beneficiary of the rising prices. Its dividend-yield is also excellent. BUY.
10. 📑 Longer vehicle insurance cover augers well for insurance companies. BUY ICICI Lombard General Insurance Company.
11. 🏗 Reliance Infrastructure aims to become debt-free in the next two years. It may be prudent to BUY this stock for the long-term.
12. ⛽ Indian Oil Corporation plans to double its fuel retail outlets over the next 3 years since the maximum profit lies here. It has earmarked ₹22000 crore for capex this year. It pays heavy dividends as well. A good BUY.
13. 🚐 Mahindra & Mahindra plans to launch three new SUV models in an attempt to regain its top position. BUY.
14. 💻 Wipro has entered into a multiyear deal with Denmark based Falch. The stock is ripe for another jump. BUY.
15. 🛵 Greaves Cotton has entered into a definitive agreement to acquire a majority stake in Ampere Vehicles Pvt Ltd (an electric two-wheeler manufacturer). A big POSITIVE for the company.
16. 🚨 Lumax Industries plans to substitute its imports by local manufacture to entail higher profitability. BUY for the long-term.
17. ⚙ Zinc prices are on the rise. Hindustan Zinc, which is sitting on a huge pile of cash, looks attractive. Another bumper dividend may not be very far. Patient investors may ACCUMULATE the stock.
18. ⛽ With the rising oil prices and the US dollar strengthening, Selan Exploration Technology is likely to benefit. More so, as gas prices are set to rise by ~14% by September end. BUY.
19. 🕳 Apollo Tyres has lined up $1 billion in investments. A sales target of ₹2000 crore will give it the top slot in the industry. BUY for the long-term.
20. 🏘 Ashiana Housing has continuously reported higher bookings and higher profits. The affordable housing segment is also booming. BUY immediately.
21. 💡 Godawari Power & Ispat is likely to notch an EPS of ₹85 in FY19. The stock is poised to RISE by 50% in the medium-term.
22. 🏭 Shreyans Industries, which posted good results for Q1, is on course to notch an EPS of ₹30 in FY19. The stock is available cheap for a price target of ₹280.
23. 🔩 Jindal Stainless and Jindal Saw counters have witnessed heavy buying by some investors. The stock is likely to APPRECIATE by another 20%.
24. 🏭 The promoters of Sintex Plastics Technology have taken 1.65 crore shares at ₹89/share through conversion of warrants against the CMP of ₹37.90. BUY for the medium-to-long term.
25. 📞 Vindhya Telelinks, which posed excellent standalone results for Q1, is anticipated to notch a consolidated EPS of ₹160 for FY19. The stock is poised to cross ₹2000 on a reasonable P/E of 12.5x.
26. 💊 Some analysts are bullish on Aurobindo Pharma on expectations of excellent Q2 results by the company. The stock is poised to touch ₹750 soon.
27. ☎ Hinduja Global Solutions is expected to notch an EPS of ₹105+ in FY19 and ₹115 in FY20. The stock is likely to touch ₹1200.
28. 🚌 SML Isuzu, Japanese MNC (44% stake), may post an EPS of ₹40 in FY19. The stock is poised to touch ₹1300.
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DUE DATES FOR THE MONTH OF SEPTEMBER 2018
07-09-2018- Due date for deposit of tax deducted/collected at source for August 2018
11-09-2018- Due date for filing GSTR -1 for August 2018. Applicable for taxpayers with Annual Aggregate turnover More than 1.50 Crore
14-09-2018- Due date for issue of TDS Certificate for tax deducted under section 194-IA, 194-IB in the month of July 2018
15-09-2018- Due date of deposit of second instalment of advance tax for the assessment year 2019-20
15-09-2018- Application for KYC of all Directors for the year ending 31.03.2018 via form DIR-3 KYC
15-09-2018- PF Payment for August 2018
15-09-2018- ESIC Payment for August 2018
20-09-2018- GSTR-3B for August 2018
30-09-2018 – Due date for furnishing of challan-cum-statement in respect of tax deducted under Section 194-IA, 194-IB in August 2018
30-09-2018 – Audit report under section 44AB of the Income Tax Act for the assessment year 2018-19 in the case of a corporate/non-corporate assessee who are required to submit return of income on September 30, 2018
GSTR-5 (Aug 2018)-Sep 20th, 2018
GSTR-6 (Jul'17 - Aug'18)-Sep 30, 2018
GSTR-5A (Aug 2018)- Sept 20th, 2018
30 September 2018 -
Application in Form 9A for exercising the option available under Explanation to section 11(1) to apply income of previous year in the next year or in future (if the assessee is required to submit return of income on September 30, 2018)
30 September 2018 -
Statement in Form no. 10 to be furnished to accumulate income for future application under section 10(21) or11(2) (if the assessee is required to submit return of income on September 30, 2018)
30 September 2018 -
Due date for claiming foreign tax credit, upload statement of foreign income offered for tax for the previous year 2017-18 and of foreign tax deducted or paid on such income in Form no. 67. (if due date of submission of return of income is September 30, 2018).
30 September 2018 -
Due date of intimation under section 286(1) by a resident constituent entity of an international group whose parent is non-resident.
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CBDT Notifies Rules for Computing Fair Market Value of Inventories converted to Capital Asset [Read Notification]
Read more at: http://www.taxscan.in/cbdt-notifies-rules-computing-fair-market-value-inventories-converted-capital-asset/27730/
