©orporate Updates on Very Special Day 🥳
Ø IMF cuts India's GDP growth forecast to 7% for FY20
Ø Infra, power segments depress L&T Q1 earnings
Ø HUL net up 15%; Q1 volume growth weak at 5%
Ø NCLAT's Essar Steel order not applicable to Ruchi Soya
Ø DHFL's insurance arms solvent, safe: IRDAI chief
Ø NSE excludes Reliance Infra, Reliance Capital from F&O segment
Ø IGPC wants banks to be allowed to buy gold, become bullion bankers
Ø Brookfield's plan to acquire cash-strapped Suzlon hits a roadblock
Ø Rana Kapoor, Morgan Credits pledge 7.34% stake in YES Bank with lenders
Ø Zee Entertainment reports 62.6% hike in Q1 net profit at Rs 530 cr
Ø Promoter stake in Cox & Kings down to 39% over payments default
Ø SEBI may moot peer review mechanism for credit ratings
Ø Motor Vehicle Amendment Bill gets green signal in Lok Sabha
Ø Fitch, Moody’s cut Boeing’s credit rating outlook to negative
Ø Reliance Industries’ stake sale talks with Saudi Aramco hit roadblock
Ø Tata Power plans ₹2,500-cr asset sale to pare debt
Ø Moody’s assigns ‘Baa3’ rating to Hero FinCorp
Ø Oriental Bank of Commerce Q1 net profit at ₹113 crore
Ø RBI names Kanungo to run monetary policy portfolio after Viral Acharya quits
Ø Aditya Birla Sun Life MF’s debt investors face cliff edge risk
Ø Supreme Court extends NRC deadline to 31 August
Ø RBI launches medium-term strategy framework Utkarsh 2022
Ø RIL denies Oberoi Hotels stake buy report; says, no plan to buy EIH shares from ITC
Ø Investments in Kisan Vikas Patra to now double in 9 years 5 months: FinMin
Ø Capex revival 12-18 months away, says Larsen and Toubro
Ø Rupee settles almost flat at 68.94 against US dollar
Ø SENSEX, Nifty end lower for 4th day; bank, auto stocks drag
Ø IndusInd Bank plans to raise up to Rs 20,000 cr by issuing bonds
Ø Crude oil up 0.28 per cent on upbeat global cues
Ø Supreme Court cancels Amrapali registration, asks NBCC to complete projects
.
=======>
.
The Central Board of Direct Taxes (CBDT) EXTENDS the Due Date‘ for filing of Income Tax Returns by One Month from 31st July to 31st August in respect of certain categories of tax payers who were liable to file their returns by 31st July 2019.
# ICAI : Exposure Draft is hosted for public comments on Deferred Tax related to Assets and Liabilities arising from a Single Transaction with last date as September 30, 2019 at the following link: https://www.icai.org/post.html?post_id=3321
# ICAI: For Members/Students, please to intimate that ICAI launched its online portal to order all research based publications of members and students. You can visit www.icai-cds.org and may order online.
# GST: Entire contribution to RWA is taxable under GST if amount exceed Rs. 7500. The exemption from GST on maintenance charges charged by a RWA from residents is available only if such charges do not exceed Rs. 7500/- per month per member. Circular No.109/28/2019- GST
# Upcoming Due Date :
30 -07-2019
- Quarterly TCS certificate for the quarter ending June 30, 2019.
- Furnishing challan-cum-statement in respect of tax deducted u/s 194-IA/194IB in month of June'19
.
=======>
.
GST effect? Indirect tax under litigation fell by 61% in less than two years:
READ MORE- https://www.gststation.in/gst-effect-indirect-tax-under-litigation-fell-by-61-in-less-than-two-years/
.
=======>
.
Super-rich will have to pay interest on the advance tax instalment that was due on June 15, in line with their increased liability on the back of higher surcharge on those with incomes above Rs 2 crore. It will be effective from April 1.
Super-rich Indians are rushing to buy tax-free bonds, which offer an effective double-digit return in the proposed new tax regime, at a time when uncertainty has gripped the stock market. state-run firms with tenures of 10, 15 and 20 years are available for purchase on the secondary market.
Ministry of Finance has exempted gems and jewellery taken for display at exhibitions abroad from Integrated GST. Till now, gem and jewellery taken out of India for exhibition or consignment purpose was considered as reimport when bought back into the country and IGST was levied.
Flat owners will have to pay GST at 18% if their monthly contribution to RWA exceeds Rs 7,500, RWAs are required to collect GST on monthly basis by way of supply of services and goods exceeds Rs 20 lakhs.
Government wants the Competition Commission of India (CCI) to conduct a survey or an investigation to assess whether the Big Four that include PwC, EY, Deloitte and KPMG are abusing their dominant position in the audit market.
SEBI has issued a circular for Standardizing Reporting of violations related to the Code of Conduct under SEBI (Prohibition of Insider Trading) Regulations, 2015.
.
=======>
.
GST: Pendency of indirect tax appeal cases in SC and HC down 61 per cent in 2 years:
READ MORE- https://www.gststation.in/gst-pendency-of-indirect-tax-appeal-cases-in-sc-and-hc-down-61-per-cent-in-2-years/
.
=======>
.
Haryana makes healthy contribution to overall GST collection:
READ MORE- https://www.gststation.in/haryana-makes-healthy-contribution-to-overall-gst-collection/
.
=======>
.
Now, interest to apply only on net cash liability of unpaid GST:
READ MORE- https://www.gststation.in/now-interest-to-apply-only-on-net-cash-liability-of-unpaid-gst/
.
=======>
.
GST: Yes Bank launches Smart Edge, an industry first urrogate lending program for MSMEs:
READ MORE- https://www.gststation.in/gst-yes-bank-launches-smart-edge-an-industry-first-surrogate-lending-program-for-msmes/
.
=======>
.
GST Council meeting tomorrow: From EVs to lottery, what’s on agenda:
READ MORE- https://www.gststation.in/gst-council-meeting-tomorrow-from-evs-to-lottery-whats-on-agenda/
