GST payment: Exporters favour online system of IGST refund :
In terms of volume of exports, the split between exporters using IGST route to ITC mechanism was 15% and 85% at the start of GST regime. Exporters under the goods and services tax (GST) regime are favouring the completely online system of refund of integrated GST...
READ MORE- http://www.gststation.in/gst-payment-exporters-favour-online-system-of-igst-refund/
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Q2 can rise 800% : COAL INDIA
Coal India can report 800% rise in NP for Q2 vs 368cr in Q2FY18. Moreover FY19 NP can rise by 140% vs 7019cr in FY18.
FY19E. FY20E
NP 17000 19000cr
EPSRs 27.40 30.60
HIGH DIVIDEND YIELD
Den of Wealth estimates that Coal can give Div of INR 28 for FY19 as well as for FY20
CMP is substantially lower than its lifetime high of 439 and even 52 week high of 317 and near 52 week low. Therefore, stock is extremely attractive, particularly considering bright prospects coupled with big spike in production as well as profit margins.
RATIONALE :
>> Stock is trading @ 10xFY19EEPS and 9xFY20EEPS. Largest coal miner of the world should get PE ratio of 15
>> Tax free dividend yield can be 10%
>> Coal already reported excellent Q1 with volume growth of over 10% and higher blended realisations
>> Revival of power sector is big boon for Coal India. Resolution of shut down power plants and higher power tariffs augur well for the company
>> Recent OFS has bought down govt. holding to 75% which now removes mandatory supply overhang
>> Cash per share is in excess of INR 50. Strong net debt free balance sheet
>> Given the pace of Rural electrification and implementation of reforms related to power sector Coal India can deliver PAT CAGR of 25% over next 2-3 yrs
VALUATION
For traders, stock can be 285-295 Nov expiry
Investment TP as under:
IndiaNivesh. 365
MOSL. 394
CITI. 350
Macquarie. 343
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Corpus fund cannot be taxed even if registration u/s 12AA has not been granted under Income Tax Act, Case Name: Civil Services Institute Vs DCIT (ITAT Delhi)
The GST Act provides for allotting a Unique Identification Number (UIN) to Consulates, Embassies and other UN Organizations to enable such entities to claim refund of GST paid. One of the conditions for claiming this refund is to file Invoice Level Data in their FORM GSTR-11 on the common portal.
Former IAS officer Ashok Kumar Gupta has been appointed as the chairperson of the Competition Commission of India. The CCI keeps a tab on unfair business practices across sectors.
The government and the Reserve Bank of India are likely to arrive at a common ground over easing of liquidity crunch for NBFC’s, while state-run banks cannot become a perfect substitute for funding medium and small enterprises.
Result of GST Practitioners Examination held on 31.10.18 Declared. National Academy of Customs, Indirect Taxes and Narcotics (NACIN) has conducted examination for confirmation of enrollment of GSTPs in terms of second proviso to sub-rule (3) of rule 83 of the CGST Rules, 2017.
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👉🏻Polling Booth Details for ICAI Election - Northern Region
Check your Polling Booth Detail (Northern Region) for ICAI Election 2018 to be held on 7th, 8th December 2018.
Click on the link & Enter your Membership No. (MRN) without using zero before that .
👇🏻 👇🏻 👇🏻
https://goo.gl/SPKeXq
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Capital Market Updates
November 12 - 18, 2018
👍🏻 NRB Bearings reported excellent results for H1FY19 with a 25% jump in sales and 89% jump in earnings. Its future looks bright. Accumulate.
👍🏻 Lux Industries reported good results for Q2FY19 and H1FY19. With its proposed amalgamation with J. M. Hosiery and Ebell Fashions, the new entity will become stronger. Buy.
👍🏻 Entertainment Network, a Times of India group company that owns and operates Radio Mirchi, reported 50% higher PAT for Q2. The management is positive about the company’s future. Buy.
👍🏻 FMCG major Procter & Gamble Hygiene & Healthcare reported 25% higher PAT of Rs.144.1 crore for Q2FY19. Buy for the long term.
👍🏻 Tata Chemicals reported 17% higher PAT for Q2 at Rs.409 crore. Accumulate.
👍🏻 Bata India continued its strong performance in Q2FY19 with an EPS of Rs.4.3 v/s Rs.3.3 in the previous corresponding quarter. Its overall profitability for FY19 is likely to be 35% higher than FY18. Accumulate.
👍🏻 Hindalco Industries beat street estimates with 54% higher PAT for Q2. Its performance for the next few quarters is likely to be equally good. Buy.
👍🏻 Godrej Consumer Products reported excellent results for Q2 with an EPS of Rs.5.65. Accumulate.
👍🏻 After reporting fantastic results for Q2, Alkyl Amines Chemicals is expected to notch an EPS of Rs.28 for FY19. Buy.
👍🏻 Honeywell Automation India reported excellent results for H1 with an EPS of Rs.214 v/s Rs.146 in the previous corresponding quarter. Buy.
👍🏻 Since 21 September 2018, Dewan Housing Finance Corporation has repaid commercial paper holders Rs.9465 crore including buyback worth Rs.3240 crore. This shows the inherent strength of the company. Buy immediately.
👍🏻 The Infibeam Avenues counter has witnessed heavy volumes. The company seems to be on a comeback trail. Investors with a risk appetite may enter with a strict stop loss.
👍🏻 Phoenix Mills aims to double its operational retail portfolio to 12 million sq.ft. in the next 1-2 years. Buy.
👍🏻 Graphite India, a big beneficiary of the rising electrode prices in India, is poised to appreciate. Buy.
👍🏻 Ashoka Buildcon reported excellent Q2FY19 results. With a growing order book, its future looks equally strong. Buy.
👍🏻 IndiaBulls Real Estate contemplates selling 50% stake in two office assets in Gurgaon to a global investment firm. It may report good results in the next quarter. Buy.
👍🏻 Many brokerage firms are now positive on Axis Bank based on its Q2FY19 results. Accumulate on dips.
👍🏻 PNB Housing Finance reported strong results for Q2FY19 with 33% higher PAT. The stock may regain its lost ground. Buy.
👍🏻 Natco Pharma doubled its profitability in Q2FY19 on the back of new launches. It expects better times ahead. Buy.
👍🏻 Deepak Spinners reported excellent Q2FY19 results with an EPS of Rs.7. Currently, the stock trades cheap and can easily appreciate by 50%.
👍🏻 National Peroxide has consistently posted good results. This Wadia group company posted an EPS of Rs.98 in Q2FY19. The stock is poised to cross Rs.10000.
👍🏻 Small-Cap IT stocks such as Trigyn Technologies and Take Solutions are trading near their 52-week lows despite reporting a good quarterly performance. Buy for quick 20% gains.
👍🏻 Shree Ajit Pulp & Paper is a dark horse in the paper sector. The stock has the potential to touch the 4-figure mark.
👍🏻 Falling crude oil prices will boost the earnings of Phillips Carbon considerably. A good proxy bet for the medium-to-long term.
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Legal Updates
1. Where Company denied to register the shares of transefree on the ground other than stated under its Articles of Association. It has been held that under the Companies Act, the shares are transferable like any other movable property. The restriction ,if any, shall have to specifically specified in the Articles of association. Any restriction which is not specified in the Articles shall not be binding either on the company or on the shareholders. Thus, Supreme Court directed the respondent Company to register the shares of the transfree.
V.B. Rangaraj Vs. V.B. Gopalakrishnan & Ors.
MANU/SC/0076/1992
2. High Court held that where the petition of winding up has been admitted by it and proceedings has been initiated, then there is no question of filing of any application u/s 10 of IBC or initiate Insolvency Resolution Process by the applicant against the Corporate Debtor.
Rajni Anand Vs. Cosmic Structures Ltd. MANU/DE/3831/2018
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13.11.18 Economic News
👉Prime Minister Narendra Modi will address some 30,000 people at the World's Largest Gathering of Financial Technology Companies in Singapore this week and launch a Banking Solution for 2 Billion People without bank accounts worldwide.
👉SEBI is likely to come out with Stricter Rules for Liquid Mutual Funds following the liquidity squeeze triggered by the IL&FS default. It is planning to impose a Short Lock-in Period for Investments in liquid mutual funds managing assets of over Rs 8 Lakh Crore
👉India’s Retail Inflation softens to 3.31% in October, lowest in a year, as compared with 3.70% in September, driven by cheaper food items
👉Bank of India registers Net Loss of ₹1,156 Crore in Q2 due to a jump in provisions for bad loans.
👉DSP Mutual Fund launches DSP Healthcare Fund , an open ended scheme investing in the healthcare and pharma sector. The fund would be predominantly investing in equity and equity related securities of healthcare and pharmaceutical companies with some portfolio allocation to foreign securities. The NFO opened yesterday and will close on November 26.
