Friday, 3 May 2019

03 May 2019 News and Updates 💡📝

🌄🗞 समाचार सुप्रभात🌄

   03 मई, 2019 शुक्रवार
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🔸मोदी के खिलाफ 'नारेबाजी' वाले वीडियो पर राष्ट्रीय बाल अधिकार आयोग का प्रियंका को नोटिस

🔸तूफान ‘फनी' पर PM मोदी ने की हाई लेवल मीटिंग, आंध्र में बारिश व तटीय हवाई अड्डों पर अलर्ट जारी

🔸Fani Cyclone : सीएम पटनायक ने लिया तैयारियों का जायजा, लोगों से की घर में ही रहने की अपील

🔸यूपी में आईबी का अलर्ट, गढ़चिरौली जैसी घटना को अंजाम दे सकते हैं नक्सली

🔸कांग्रेस का बड़ा दावा, कहा-यूपीए सरकार में हुईं 6 सर्जिकल स्ट्राइक

🔸चुनावी हिंदू' इलेक्शन में हिंदू होने पर करते हैं गर्व : अरुण जेटली

🔸ईडी ने जाकिर नाईक के खिलाफ दायर की चार्जशीट, 50 करोड़ की संपत्ति भी जब्त

🔸आतंकवाद और देश की सुरक्षा के मुद्दे पर किसी तरह की सौदेबाजी नहीं : विदेश मंत्रालय

🔸IPL 2019: प्लेऑफ में पहुंचने वाली तीसरी टीम बनी मुंबई, सुपरओवर में हैदराबाद को हराया

🔸राज्यवर्धन राठौड़ बोले, पूरी सेना आज भाजपा और मोदी जी के साथ खड़ी है

🔸CBSE: 500 में से 499 अंक के साथ हंसिका और करिश्मा ने 12वीं में किया टॉप

🔸बढ़ सकते हैं पेट्रोल-डीजल के दाम, ईरान से अब कच्चा तेल नहीं खरीद पाएगा भारत

🔸रायबरेली में सोनिया गांधी बोलीं- मोदी जी ने कोई वादा पूरा नहीं किया

🔸लोकसभा चुनाव 2019: AAP का आरोप- भाजपा उम्मीदवार हंसराज हंस दलित नहीं मुस्लिम हैं, नामांकन किया जाए रद्द

🔸लोकसभा चुनाव 2019: मायावती की बृजभूषण को धमकी, कहा- राजा भैया का हश्र न भूलें

🔸अंतरराष्ट्रीय आतंकी मसूद अजहर पर लगे प्रतिबंधों को तत्काल लागू करेगा पाकिस्तान

🔸यूएन ने फैसले का स्वागत किया, अमेरिका बोला- दुनिया पाक से आतंक खत्म करने को प्रतिबद्ध

🔸चीन समुद्र के भीतर परमाणु परीक्षण की तैयारी में !, अमेरिका की विशेष नजर

🔸धमाकों में लिप्त रहे आतंकियों की संपत्ति जब्त करेगा श्रीलंका

🔸लाहौर: ननकाना साहिब में बनेगा अंतरराष्ट्रीय गुरु नानकदेव विश्वविद्यालय

🔸MEA बोला- मसूद अजहर को ग्लोबल टेररिस्ट घोषित कराने में पुलवामा हमले का बड़ा रोल, 50 जवान हुए थे शहीद

🔸Cyclone Fani: मध्यरात्रि से भुवनेश्वर एयरपोर्ट रहेगा बंद, आज से कोलकाता में भी ऑफ; दिल्ली-NCR में मौसम खुशनुमा

🔸ICC रैंकिंग में टीम इंडिया टेस्‍ट में नंबर-1 पर बरकरार - वनडे में दूसरे स्थान पर

🔸सुप्रीम कोर्ट का चुनाव आयोग को निर्देश, 'पीएम मोदी के खिलाफ शिकायतों पर सोमवार तक फैसला लें'

🔸नेपाल सेना का दावा, मकालू में दिखे पदचिन्ह हिममानव के नहीं भालू के हैं

🔸मतदान सुबह पांच बजे शुरू होने पर आयोग फैसला करेः सुप्रीम कोर्ट

💡Updates
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MCA

MCA has notified the Companies (Acceptance of Deposits) Second Amendment Rules, 2019 which shall come into force on the date of their publication in the Official Gazette i.e 30-04-2019. A welcome step by MCA by replacing 31-03-2019 for the words "the date of publication of this notification in the Official Gazette". Stakeholders are now required to capture the data in the Form DPT – 3 upto the date of 31-03-2019 instead of 22-01-2019, as notified earlier. Further, the form is also required to be filed with in 90 days of 31-03-2019 which means the stakeholders have time to file the said Form upto 29-06-2019 instead of earlier notified date of 30-05-2019.

 
MCA has notified the Companies (Appointment and Qualification of Directors) Amendment Rules, 2019 which shall come into force on the date of their publication in the Official Gazette i.e 30-04-2019. Amendments to Rule 12A are made to extend the time limit prescribed for submission of Form DIR – 3KYC by every director having approved DIN. The form DIR – 3KYC is now also required to be filed upto 30-06-2019 instead of earlier notified date of 30-04-2019. Further, the said Form DIR – 3KYC is yet to be made available on the portal of MCA.
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Demonetisation, GST wreaked havoc on marginalised workers: AIUWC:

READ MORE- https://www.gststation.in/demonetisation-gst-wreaked-havoc-on-marginalised-workers-aiuwc/
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5 important Updates on E-Way Bill:

READ MORE- https://www.gststation.in/5-important-updates-on-e-way-bill/
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GST: Tax filing falls 1% in FY19, indicating overall slowdown: Report:

READ MORE- https://www.gststation.in/gst-tax-filing-falls-1-in-fy19-indicating-overall-slowdown-report/
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MCA Updates:

(1) Form MSME -1 (One-time Return as at 22.01.2019) –  Due date is 30.05.2019;

(2) LLP Form - 11 (Annual Return) - 30.05.2019;

(3) Form INC-22A (Active) – 15.06.2019;

(4) Form DPT -3 (One-time Return as at 31.03.2019) – 29.06.2019;

(5) Form DIR-3 KYC (For DINs allotted till 31.03.2019) – 30.06.2019);

PS:

As of 01.05.2019, except  e-form DIR-3 KYC, all other forms have been notified by the Ministry of Corporate Affairs (MCA).

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👉The GST collections in April jumped to its Highest Level of Rs.1,13,865 Crore since its roll out in 2017. The Total Gross GST Revenue Collected in the month of April, 2019, is Rs 1,13,865 crore of which CGST is Rs 21,163 crore, SGST is Rs 28,801 crore, IGST is Rs 54,733 crore

👉CBIC issues a clarification on applicability of GST on the supply of Seed Certification Tags.

👉RBI is set to impose new limits on the liquidity mismatches that NBFCs operate with as part of its plan to nudge them towards more stable sources of funding. The New Guidelines, expected to be introduced in a phased manner, will cover both Systemically Important Non-Deposit Taking, and All Deposit Taking Entities, and take into account the sectors they operate in.

👉SBI becomes First Indian Bank to Link its Saving and Loan Interest Rates with RBI's Repo Rate

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GST: 20 per cent rise in revenue collections expected:

READ MORE- https://www.gststation.in/gst-20-per-cent-rise-in-revenue-collections-expected/
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Why it may be premature to cheer the surge in April GST collection:

READ MORE- https://www.gststation.in/why-it-may-be-premature-to-cheer-the-surge-in-april-gst-collection/
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ANNOUNCEMENT

For Kind Attention of Members, Firms & Students

The Institute of Chartered Accountants of India has been continuously evolving ways to automate and re-engineer processes in order to make transactions easier and user friendly.

One such step has been the creation of SSP (Self Service Portal), an initiative from ICAI to make applications (Forms) and transactions (Services) - faster and easier.

The full scale Student and Member / Firm Services by ICAI will be put to implementation starting third week of May 2019.

ICAI has scheduled a one-time migration activity from old system to new system from 6th May 2019. The entire IT Systems (including e-services) with respect to Members and Student Services will not be available between 6th May to 22nd May 2019 and the Regional Offices will not be able to process any form or any other transaction. However the membership renewal link will be available and Members will be able to make fee payments through online mode. However New Students of Foundation Course and Direct Entry will also be able to register.

Very Important : As entire ICAI is moving towards new Digital platform, PHYSICAL DAK including CHEQUES / DD’s will not be accepted by Regional Offices and Branches beyond 6th May 2019.

Please note that effective 22nd May, 2019 (Wednesday), ICAI will accept only Online Application forms only through e-services at the link
https://www.icai.org/new_post.html?post_id=5509 on the website www.icai.org.

Important: Members are requested to update and validate their e-mail address and mobile number (one time activity) before 6th May 2019 to ensure access to the new system, as all transactions henceforth in the new system will be OTP based transactions.

Date: 15th April 2019

DTPRG/M&C-MSS, ICAI

For any assistance Members & Students may contact their concerned Regional Offices.
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Important Communication - Update your E-mail id and Mobile Nos.

In its continued endeavour to improve the delivery of services to members, ICAI is working on an integrated single-sign-on online platform which would help the members at large to effectively communicate with the Institute on a Self-Service Mode. We have observed from our records that you have not updated your E-mail id and Mobile Number in our records yet. To update the same members are requested to please visit e-Services Section of www.icai.org. Even if there is no change in the registered Mobile Number and E-mail id, it is essential for members to reconfirm the same.

Regards

ICAI
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Lack of clarity in GST forms, traders worried:

READ MORE- https://www.gststation.in/lack-of-clarity-in-gst-forms-traders-worried/
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Analysis of SAT Judgement in Brijmohan Rathi & Anr. vs. SEBI

Waiting for the outcome of another adjudication proceedings cannot be a cogent, valid or legal ground to condone the delay nor does such ground could come under expression “sufficient cause”.

Read full case analysis at : https://dasgovernance.com/2019/05/03/analysis-of-sat-judgement-in-brijmohan-rathi-anr-vs-sebi/
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Govt plans to reduce GST rate and basic customs duty on gold:

READ MORE- https://www.gststation.in/govt-plans-to-reduce-gst-rate-and-basic-customs-duty-on-gold/
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Income Tax Return for FY 17-18 cannot be revised now as the deadline for it was March 31, 2019. You can consider payment of tax and informing the tax department so that in the event of any enquiry by the tax department, you will be able to prove that you have fulfilled your onus of reporting the income and payment of consequent tax.

MCA has notified the Companies (Acceptance of Deposits) Second Amendment Rules, 2019 which shall come into force on the date of their publication in the Official Gazette i.e 30-04-2019.

SEBI passed orders against it in the co-location case, National Stock Exchange said on May 1 the orders do not affect its functioning as a recognised stock exchange. The markets regulator on April 30 directed the bourse to disgorge profits worth over Rs 687 crore along with interest.

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GST: Income tax returns shrink in FY19 as demonetisation effect wanes:

READ MORE- https://www.gststation.in/gst-income-tax-returns-shrink-in-fy19-as-demonetisation-effect-wanes/
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👉Govt plans to reduce GST rate and Basic Customs Duty (BCD) on Gold , to 4% from the current 10%. This is part of the discussion on the ‘Integrated Gold Policy’ under preparation. The matter is being reviewed by the CBIC.

👉IBBI proposes 365-Day Timeline for Liquidation Process. Much like the 270-day deadline that’s sacrosanct in a Corporate Insolvency Resolution Process, liquidation should be completed in 365 days, IBBI suggested in its draft regulations on Corporate Liquidation Process.

👉Banks have put up nearly Rs 1.3 Lakh Crore of Bad Loans for sale to Asset Reconstruction Firms (ARC) in the last fiscal, amid delays and legal challenges in cases admitted for resolution in the NCLT under the IBC.

👉IBBI streamlines Insolvency Professional’s ‘Temporary Surrender’ Process.  IBBI, has advised the Insolvency Professional Agencies (IPAs) — who register the IPs with them — not to ordinarily accept ‘Temporary Surrender’ of Professional Membership of an IP while doing the CIRP or Individual Insolvency Resolution and Individual Bankruptcy.

👉RBI approves Extension of Tenure of Yes Bank's Part-Time Chairman Brahm Dutt till January 2022. Earlier, the tenure of Dutt, whose appointment was approved in January this year by the RBI, was till July 4, 2020.

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👉🏻ICAI releases e-version of compendium of revised Indian Accounting Standards
(The e-version of compendium of Ind AS includes amendments that were made in Companies (Indian Accounting Standards) Amendment Rules and became effective on April 1)
👇🏻 👇🏻 👇🏻
http://bit.ly/2V9Aaiu

👉🏻NCLAT allows banks to declare defaulting ILFS accounts as NPAs
(NLCAT on May 2 allowed the banks to declare as non-performing assets the accounts of IL&FS and its group companies that have defaulted on payments.)
👇🏻 👇🏻 👇🏻
http://bit.ly/2WnGD6a

👉🏻Bar Council of Delhi bars the Big Four- KPMG, PwC, EY and Deloitte from practicing law
(The Bar Council of Delhi has directed the Big Four Accounting Firms – KPMG, Price Water House Coopers, Ernst & Young and Deloitte India to refrain from indulging in any practice which would amount to practising law)
👇🏻 👇🏻 👇🏻
http://bit.ly/2VFb0I8

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GST, demonetisation caused some trouble, but did not shake people’s faith in PM: Harsh Vardhan:

READ MORE- https://www.gststation.in/gst-demonetisation-caused-some-trouble-but-did-not-shake-peoples-faith-in-pm-harsh-vardhan/
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Namaste

ICAI changes dates of 2 Examinations of Final and of Foundation for May 2019 -

- Final Group I, Paper 4 - from 2nd June 2019 to 4th June 2019

- Final Group II, Paper 5 - from 4th June 2019 to 13th June 2019

- Foundation Paper 3 - 9th June 2019 to 13th June 2019

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GST: Government unearths Rs 49,158 crore of indirect tax evasion in FY19:

READ MORE- https://www.gststation.in/gst-government-unearths-rs-49158-crore-of-indirect-tax-evasion-in-fy19/
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GST, Companies Act open multiple opportunities for CAs, job offers more than double in 2019:

Experts say implementation of GST and increase in overall economic activity have increased demand for these professionals accountants. “New reforms in taxation and continuous changes in the Companies Act.

READ MORE- https://www.gststation.in/gst-companies-act-open-multiple-opportunities-for-cas-job-offers-more-than-double-in-2019/