GST Provision denying credit of Excise Duty paid on Capital Goods in Transit as on 1st July 2017 is Valid: Gujarat HC [Read Judgment]
Read more at: http://www.taxscan.in/gst-credit-capital-goods-transit-gujarat-hc/30152/
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Cap Market Updates 🏦
October 29
✍ Asian Paints seems to be losing its sheen. Its Q2 PAT fell around 15%. Stay away from this counter till the market stabilises.
✍ HDFC Bank, which reported 21% higher PAT for Q2 at Rs.5005.73 crore, is reportedly faring well in the current quarter as well. Buy.
✍ Persistent Systems has reported a Rs.43 crore exposure to the IL&FS group. Its Q2 results also failed to cheer investors. Stay away from this counter.
✍ Oberoi Realty’s Q2 consolidated PAT jumped over 2x on the back of higher bookings and projects. Buy for the long term.
✍ Hindustan Zinc reported 29% lower PAT for Q2 on account of higher input cost and lower revenue. Investors may, however, hold the stock in view of the special dividend of Rs.20/share.
✍ There is no stopping Alembic Pharmaceuticals, which reported 64% higher PAT for Q2 due to a one-time supply shortage in the US markets. The gains are likely to continue to Q3 as well. Hold.
✍ Jubilant Lifesciences reported 67% higher PAT for Q2, mainly on account of robust sales from the pharma segment. Its Q3 is likely to be equally good. Buy.
✍ Inox Leisure, which operates around 536 screens in 66 cities across 19 states, reported flat to positive results for Q2. Hold.
✍ Bajaj Finance reported robust numbers for Q2 with 54% higher PAT. Buy.
✍ Zee Entertainment Enterprises has secured a US patent for its technology platform in the home entertainment segment. A big positive for the company. Buy.
✍ PNB Housing Finance has raised Rs.1775 crore for expanding its business. Its commercial papers (CPs) were fully subscribed, which testifies its inherent strength to meet its obligations. Accumulate.
✍ Havells India is focused on introducing new consumer electronic products and improving its distribution network. Buy for the long-term.
✍ Value buying is gradually emerging in good quality housing finance company (HFC) stocks. Buy IndiaBulls Housing Finance immediately for stellar gains.
✍ TVS Motor Company is geared up for growth. The stock looks good for the long-term in spite of stagnant profits.
✍ HCL Technologies beat street estimates with 15% higher PAT for Q2. The management expects 11% higher revenue for FY19 and its bottom-line will also improve. Buy.
✍ The government is focused on enhancing crop production using drip irrigation systems. Buy Jain Irrigation Systems for good returns.
✍ All rating agencies have re-affirmed their AAA rating for Dewan Housing Finance Corporation, which seems to have been overlooked by investors. The current correction phase offers an excellent opportunity to enter.
✍ With decent earnings visibility, fertiliser majors Gujarat State Fertilizers & Chemicals and Deepak Fertilisers & Petrochemicals Corporation look good. Buy.
✍ Contrarian buying and going against the tide fetches good returns sometimes. It may be prudent to buy Apex Frozen Foods, Waterbase and Avanti Feeds for an investment period of two years.
✍ National Aluminium Company invites investor attention. An imminent buy-back coupled with higher profits for FY19 augurs well for the company. Buy immediately.
✍ IT major Larsen & Toubro Infotech reported 47% higher PAT for Q2 on account of higher growth in its digital services segment. The management is optimistic about the company’s future. Buy for the long-term.
✍ Mahindra & Mahindra Financial Services reported a two-fold increase in Q2 PAT. The current meltdown in the market could not dent its share price, which shows its inherent strength. Buy.
✍ Kriti Nutrients, which reported 40% higher PAT for Q2FY19 and 66% higher PAT for H1FY19, is likely to notch an EPS of over Rs.4.5 for FY19. A reasonable P/E of 10x will take its share price to Rs.45 in the medium-term.
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You must be aware that DIRECTOR’S REPORT for other than Small Companies and One Person Companies has been amended w.e.f. 31st July 2018 to include 2 more points:
1. Maintenance of cost records
2. Compliance under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013
Please consider the same in your reports.
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GST Council met 30 times, took 918 decisions since its Constitution, says Finance Ministry
Read more at: http://www.taxscan.in/gst-council-decisions-finance-ministry/30158/
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CBIC to focus on behavioural patterns of taxpayers to improve GST compliance
Soon, GST officers will study the behavioural pattern of certain taxpayers to nudge them to comply with tax laws, in a departure from the current practice of focussing only on deterrent action to check evasion.
The CBIC has set up a ‘Nudge Team’ to formulate a strategy on studying behavioural patterns of taxpayers and use segmented approach to encourage them to pay taxes.
The plan is based on ‘behavioural interventions’ or ‘non-deterrence approach’ adopted by countries like the UK, Australia and Mexico to frame policies and increase tax collections.
“On the basis of the behavioural pattern, the dept will segregate taxpayers into different categories like ‘disengaged’, ‘resisters’, ‘triers’ and ‘supporters’,” .
In cases of non-wilful defaulters, the tax dept would adopt a soft approach to persuade them to comply with tax laws by sending them personalised emails reminding them about the default in tax payment cycle.
Efforts will also be made to educate these taxpayers about provisions like payment of taxes in instalments in case of liquidity crunch, and other benign provisions of the tax laws to enable them to comply with statutory provision.
