11th July 2K19
Economic Times
Ø RBI panel proposes extension of forex market timing
Ø Trade setup: Nifty evenly poised, must reclaim 100-DMA at 11,506
Ø IL&FS puts 2,880-acre land parcels in Kutch for sale
Ø HDFC to raise up to Rs 3,000 crore via bonds
Business Standard
Ø Metal shares under pressure; JSW Steel, Hindustan Zinc hit 52-week lows
Ø Reliance Capital, Reliance Infra dip for sixth straight day, fall up to 7%
Ø SpiceJet rallies 9% on heavy volumes as IndiGo, Jet Airways slip in trade
Business Line
Ø Oil prices rise as data shows bigger-than-expected fall in US stockpiles
Ø JLR June sales drop 9.6% at 47,060 units
Ø Singareni Collieries starts work at Naini coal block in Odisha
Ø Cotton’s crash amid likely glut set to deepen
Mint
Ø Axis Bank appoints Citi, JPMorgan, Axis Capital for $1.3-billion share sale
Ø S&P 500 hits 3,000 for first time as Fed signals possible rate cut
Ø $42 billion wiped off Indian stocks as doubts on tax linger
Financial Express
Ø Jio retains lead over Airtel, Vodafone Idea in AGR for March quarter: Trai
Ø OYO is now world’s third largest hotel chain; might go for IPO after three years
Ø India Inc's FDI down over two times to $820 million in June
Deccan Chronicle
Ø Auto stocks fall up to 3 pc after SIAM's sales data
Ø Rupee trips 7 paise to 68.58 vs USD
Ø FPIs can opt for corporate route to avail lower tax surcharge: CBDT chief
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Economic growth is high on the agenda of the Government: Ministry Of Finance:
READ MORE- https://www.gststation.in/economic-growth-is-high-on-the-agenda-of-the-government-ministry-of-finance/
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Due date for submitting income tax returns is 31st July 2019 for all cases in which income tax audit is not mandatory. make sure to file your returns within time to avoid penalties.
Finance ministry shows that about 40% of foreign portfolio investors (FPIs) — those that follow the trust structure — will be impacted by the higher surcharge levied in the budget. The majority 60% of FPIs that use the corporate structure will not be impacted.
Supreme Court asked the central government if it had a “uniform proposal” outside of the Insolvency and Bankruptcy Code framework to resolve the problems being faced by millions of homebuyers who had not got the possession of their flats despite having paid for these properties to the real estate builders.
RBI norms on large exposures for banks are not only compliant with the Basel requirements, they are stricter in some areas as well, according to the findings of the Basel Committee on Banking Supervision.
The Institute of Company Secretaries of India said it will roll out a new feature, Unique Document Identification Number (UDIN), which will help in ensuring better compliance as well as prevent counterfeiting of various certifications and attestations done by company secretaries.
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Govt books 1,800 cases for issuing fake GST invoices:
READ MORE- https://www.gststation.in/govt-books-1800-cases-for-issuing-fake-gst-invoices/
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ITax Update-
ITAT is bound to dispose of ground raised by assessee and give opinion thereon held by High Court Of Bambay in case of
Rolls-Royce Marine India (P.) Ltd. Vs. Income Tax Appellate Tribunal
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Direct tax collection target fixed at Rs 13.35 lakh crore; is achievable, says CBDT chairman Pramod Chandra:
READ MORE- https://www.gststation.in/direct-tax-collection-target-fixed-at-rs-13-35-lakh-crore-is-achievable-says-cbdt-chairman-pramod-chandra/
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Fake invoices: Govt cracks down on bogus GST dealers:
READ MORE- https://www.gststation.in/fake-invoices-govt-cracks-down-on-bogus-gst-dealers/