CIPLA Ltd
1) Announcement pertaining to Acquisition in USA possible TODAY
2) Another Big Trigger: Approval of some tablet was stuck in court case. Reliably learnt that Cipla has WON the case , paving way for launch of this drug
3) Heavy short positions built. Short covering can lead to stock price flare up
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👉🏻Reliance receives India’s first LC payment via Blockchain
(In a first for India, HSBC Holdings Plc has executed a trade finance transaction using blockchain for an export by Reliance Industries to US-based Tricon Energy)
👇🏻 👇🏻 👇🏻
https://goo.gl/zYJ5w9
👉🏻ICAI allows students to submit observation on CA Question Paper
(ICAI has notified the candidates appearing in the CA examination in November will be able to submit observations on the question paper, if any)
👇🏻 👇🏻 👇🏻
https://goo.gl/XLN9hU
👉🏻RBI kick-starts process to set up PCR for capturing details of borrowers
(RBI has initiated steps to set up a wide-based digital Public Credit Registry (PCR) to capture details of all borrowers, including wilful defaulters and also the pending legal suits)
👇🏻 👇🏻 👇🏻
https://goo.gl/yLFerB
👉🏻Appointment of Auditor for conducting Annual GST Audit of SIDBI
(Appointment of Auditor for Conducting Annual GST audit of the Small Industries Development Bank of India (SIDBI)
👇🏻 👇🏻 👇🏻
https://goo.gl/KZFNMc
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AA Quashes Order against Chartered Accountant on ground of Issue of limitation on entertaining Complaint
Read more at: http://www.taxscan.in/aa-chartered-accountant-limitation/30461/
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# PM Modi unveils 12 key initiatives including:
• 59 minute loan portal to enable easy access to credit for MSMEs
• Mandatory 25% procurement from MSMEs by CPSEs
• Ordinance for simplifying procedures for minor offences under Companies Act.
# Benami Property - the Adjudicating Authority (AA) appointed u/s 6(1) of the PMLA, 2002 shall discharge the functions of the AA under the Benami Act – N.N.77/2018, dt.01.11.18.
# GST: E-way bill - in case of minor discrepancies specially errors of one or two digits/character of the vehicle number would not be sufficient for initiation of any proceedings under the Act - Diamond Metal Vs State of U.P. & Ors (2018 (11) TMI 56 - Allahabad HC)
# IT: Excess amount received over advance amount, since the agreement for purchase of property could not mature, cannot be brought to income tax – ACIT Vs Shri Chittranjan Dua (2018 (11) TMI 125 - ITAT Delhi).
# IT: Levy of penalty u/s 271B - assessee failed to get the accounts audited as per Section 44AB(a) - The assessee did not make out any case of reasonable cause so as to claim immunity from the penalty – Jaswant Singh Vs ITO (2018 (11) TMI 211 - ITAT Delhi).
TMI: taxmanagementindia.com
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GST payable on Toll Reimbursements: AAR [Read Order]
Read more at: http://www.taxscan.in/gst-toll-reimbursements-aar/30465/
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GSTR 3B and GSTR 2A - ITC Reconciliation~ Instructions on the way for field formations not to disallow such credit~ITC availed by a registered person in GSTR 3B which is eligible & based on documentary evidence will be allowed even if the same is not reflected in GSTR 2A.
MCA: The Companies (Amendment) Ordinance, 2018 has been brought into force from the 2nd of November 2018.
Union Cabinet approved promulgating an ordinance to amend the Companies Act. MCA has been looking at ways to promote ease of doing business as well as ensure better compliance levels. The proposal to promulgate an ordinance for amending the Companies Act, 2013, was approved by the Cabinet.
RBI allowed banks to offer partial credit enhancement (PCE) to bonds issued by non-banking financial companies (NBFCs) and housing finance companies (HFCs), subject to certain conditions. The PCE enables an NBFC/HFC to improve its creditworthiness by securing a backing from a higher rated entity.
Prime Minister Narendra Modi has announced major steps including 59-minute loan portal for sanction of up to one crore rupees for small and medium Enterprises. For an SME they have to create a Login at https://www.psbloansin59minutes.com/home
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Property incapable to Let Out not taxable as House Property Income on Notional basis: ITAT [Read Order]
Read more at: http://www.taxscan.in/house-property-income-notional-itat/30455/
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Individual Raw Marks and Scaling Records of Exam conducted by ICAI can be given through RTI: CIC [Read Order]
Read more at: http://www.taxscan.in/individual-raw-marks-scaling-records-exam-icai-rti/30473/
