17.09.18 Economic News
👉In a landmark ruling, a Two-Judge Bench of the Gujarat High Court Strikes Down the provision Relating to Transitional Credit providing for 1 year time limit of purchases for Claiming Excise Duty Credit inter alia in the cases of First Stage Dealers and Importers
👉GSTN Alert: As the TDS and TCS provisions are all set to be implemented from next month, “Facility of Amendment of Registration of Non-Core fields in Form GST REG-14 has been provided on the GST Portal to following category of taxpayers/ persons: Non Resident Taxable Person (NRTP) Online Information and Database Access or Retrieval (OIDAR) Tax Deducted at Source (TDS) & TCS taxpayers.
👉Punjab State Government issues Notification enhancing the Threshold Limit for E-Way Bill for Intra-State Movement to 1 Lakh Rupees from the current 50,000 rupees. Tamil Nadu, Maharashtra and West Bengal are among other states to raise such limit.
👉Uttar Pradesh State Govt. Mandates Radio Frequency Identification Device (RFID) Tag for vehicles operating in the state, along with E-Way Bill from November 1.
👉KYC Non-Compliance: Govt starts De-Activating Director Identification Numbers (DIN) of 21 Lakh Directors of various companies as they failed to comply with KYC norms and this process is likely to be completed by today.
👉SEBI is likely to consider a proposal to introduce a Common Application Form for Foreign Investors (FPIs) to enter into the Domestic Capital Market, a move expected to improve ease of doing business. Besides this, SEBI is expected to deliberate on a proposal on doing away with the requirement of 1% Security Deposits for Public Issuance of Debt Securities.
17th September 2K18
Economic Times
Ø RBI not on panel to resolve stress in power sector
Ø HDFC Bank most valuable Indian brand: Survey
Ø Govt starts de-activating DIN of 21 lakh directors
Ø Hybrid vehicles crucial for future mobility: Saraswat
Ø US to impose $200 bn tariff on Chinese goods: Report
Ø 'Walmart did not deduct taxes from 34 shareholders'
Business Standard
Ø Gold industry worried that govt will curb imports to stem CAD, rupee fall
Ø Nabard okays Rs 656.34 bn loan for 93 irrigation projects under PMKSY plan
Ø Hindalco Industries to seek shareholders' nod for Rs 60 billion-NCDs
Ø DLF to utilise sales proceeds worth Rs 140 bn to fund new projects: CEO
Ø UltraTech Cement walks a long road with Jaiprakash Associates' assets
Business Line
Ø Barmer: Govt looks to milk Vedanta for millions more
Ø India in a catch-22 situation on free trade pact with the US
Ø LIC Mutual Fund gets ₹200 crore from IL&FS Sec
Ø Arvind eyeing Rs 12K cr revenue from textiles biz in next 5 years
Ø Tata Motors closes gap with Mahindra for 3rd biggest PV maker in India
Ø FPIs pull out $1.3 bn so far this month
Mint
Ø Bharat Petroleum shelves Bina Refinery IPO plan
Ø CBI charge sheet against Vijay Mallya likely in a month
Ø Forget Lehman Brothers, India is still in a financial crisis
Ø Aston Martin joins JLR in calling out Brexit risk to industry
Ø Eight of top 10 firms lose ₹41,660 crore in m-cap last week, RIL worst hit
Ø Risky trade-offs to stabilize the rupee
Financial Express
Ø Equity market running ahead of fundamentals, time to book profits: Report
Ø Commerce Ministry eases process to avail export incentives under MEIS scheme
Ø Coal India wants a coal export policy before finalising commercial contracts for exporting the dry fuel
Ø Tata Steel begins work on blast furnace at UK plant
Financial Chronicle
Ø Govt looking to sale 4 Air India subsidiaries soon
Ø Govt to appeal against arbitration panel rejecting its $1.5 bn claim against Reliance
Ø States set to miss FY19 fiscal targets, predicts ICRA
Ø Walmart's tax woes post Flipkart deal may be far from over
