31st December 2K18
Economic Times
Ø Banks recover Rs 40,400 crore from defaulters: RBI
Ø Reliance, BP get key ship on KG-D6 for gas output
Ø Make enough financial allocations for farmers: Par Panel
Ø Provision coverage ratio of PSU banks on the rise
Ø 26 firms evince interest in special audit of telcos
Ø Sebi plans to strengthen market surveillance system, data warehouse tool
Business Standard
Ø Govt working on bringing untaxed sectors under tax net: Revenue Secy
Ø Rs 3-trn NPA risk averted by completing highway projects in 2018: Gadkari
Ø Jet Airways in talks with SBI for Rs 15 billion short-term loan: Report
Ø Cipla recalls 4,800 bottles of anti-HIV tablets from American market
Ø MSTC mulls 10% fresh equity issue after govt plan to dilute 25% stake
Business Line
Ø India’s robust GDP growth to continue in 2019, says CII report
Ø NTPC to set up 50-MW LNG project in Andaman
Ø Committee to monitor DFI implementation soon
Ø Govt seen going full throttle on labour reforms in 2019
Ø Air India, Jet Airways see dip in domestic market share
Mint
Ø Emerging markets seen bringing more pain to investors in 2019
Ø Theresa May sets mid-January date for Brexit vote
Ø Sebi expands OFS framework to all firms with Rs1,000 crore and above m-cap
Ø RBI extends enhanced single borrower limit facility till March
Financial Express
Ø RBI exploring mobile phone-based solution to help visually impaired identify banknotes
Ø Niti Aayog's new year focus: Pushing growth, implementation of govt's reform measures
Ø Petrol price cut to its lowest level in 2018, diesel rates at 9-month low
Financial Chronicle
Ø Govt proposes to invest Rs 1,227 cr through EDF
Ø New NHAI norms may slow down project awards
Ø Debt Waiver May Slow State Capex Growth
Ø Re-audit of telcos’ books to begin in jan
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👉The Maharashtra Authority of Advance Ruling rules that, GST is not applicable on Reimbursement of Salary on behalf of Foreign Entity.
👉ICAI releases an exposure draft on AS-1 Presentation of Financial Statements and on AS-37, Provisions, Contingent Liabilities, and Contingent Assets.
👉CBIC releases a set of FAQs on Banking, Insurance, and Stock Brokers wherein the Board clarified that the charges for late payment of dues on credit card outstanding are chargeable to GST.
👉Punjab sought a comprehensive review of all exemptions under the GST while revising the threshold for such exclusions, only essential items were included in the exempted category, but the list expanded now.
👉Institutional Investments in real estate doubled to USD 20 billion during 2014-18 compared to the previous 5 years, driven by reforms like a law to regulate the sector and relaxation in FDI norms.
👉SEBI invites bids from IT Companies to beef up its market surveillance system as well as its tool for speedy analysis of trade data, which identifies possible violations such as insider trading, share price manipulation and front running.
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Direct tax collection till December 20 this fiscal amounted to Rs 7.36 lakh crore, a growth of 14% over the same period a year ago. This is 64% of the Budget estimate for direct tax collection in the current fiscal.
Reduction in discount doesn’t amount to profiteering as the same was offered from his profit margin by the Respondent and doesn't not form part of the base price and therefore, the Respondent cannot be held guilty under Section 171 of the Act. In re Kerala State Screening Committee on Anti-profiteering Vs M/s Asian Paints Ltd. (National Anti-Profiteering Authority)
CBIC issues updated 91 FAQs on applicability of GST on financial Services as on December 27, 2018http://www.taxmann.com/forms/BNNews328122018.pdf
MCA View Public Documents(VPD) services would be restricted from 28th December (Friday)2018 to 31st December (Monday)2018 between 8:00 hours to 20:00 hours.
Sebi expanded its offer for sale (OFS) framework to all the companies with market capitalisation of Rs 1,000 crore and above. Currently, the OFS framework is available to top 200 companies by market capitalisation.
RBI has notified the regulation for lending and borrowing under FEMA wherein the provisions related to borrowing by authorized Dealer or its branch office and Lending in foreign Exchange by person resident in India and so on.
