©orporate Updates on 7.8.2019
Ø FPI tax relief via grandfathering clause soon: Sources
Ø Govt. wants to freeze accounts of IL&FS auditors, others
Ø China warns India of 'reverse sanctions' over Huawei
Ø Ministry to issue norms for NBFC asset buy scheme
Ø Reliance, BP form JV to set up 5,500 petrol pumps
Ø Dish TV, Airtel Digital TV merger expected by month end
Ø Essel said in talks to sell toll roads to NIIF
Ø Revenue department to brief PMO on Rs 1.67-trillion tax shortfall
Ø NSE, SGX receive SEBI, MAS approval for creating trade link at Gift City
Ø Six states to drive next phase of cement capacity ramp-ups: CARE Ratings
Ø Steel ministry mulls options for duty free export of higher grade iron ore
Ø Railways, CIL in talks over 538-km eastern freight corridor stretch
Ø SEBI plans Rs 1 cr reward, hotline access for informers of insider trading
Ø Tata Steel calls off $327-million asset sale deal with China’s HBIS
Ø Fortis Healthcare back in the black, posts ₹67.8-cr profit in Q1
Ø Declining rural demand hits FMCG sector
Ø ONGC seeks shareholder nod to help OPAL raise ₹2,680 cr
Ø JSW Energy Q1 net up 6.5% to ₹244 cr
Ø GIC to invest ₹4,400 crore in IRB Infrastructure’s 9 road projects
Ø Jet's Airways creditors approve evaluation criteria for bidders
Ø Vedanta to focus on 'purse strings' amid aluminum expansion
Ø Indiabulls Housing Finance Q1 net falls 24% to ₹802 crore
Ø Lakshmi Vilas Bank Q1 net loss widens to ₹237 cr
Ø India looking at cutting west coast refinery capacity
Ø Sitharaman, Gadkari consult small firms on boosting access to credit
Ø US designates China a currency manipulator, escalating trade war
Ø Tough times for real estate sector, need to find solution, says HDFC MD
Ø Parliament passes Consumer Protection Bill 2019
Ø PNB Housing raises $75 million in ECB from Sumitomo Mitsui Bank
Ø Rupee logs 4th straight loss, down 8 paise at 70.81 against USD
Ø *SEBI mulls tighter norms for full disclosure on loan defaults with rating agencies*
Ø India looking at cutting west coast refinery capacity as cost escalates to USD 60 bn
Ø Centre promises all help to MSMEs and related stakeholders
👉CBDT lays out the target for achieving the Government's Revised Direct Tax Collection of Rs 13.35 Lakh Crore. In a letter to all Principal Commissioners, the CBDT lays out targets for each of its Regions, with the Mumbai region expected to contribute Rs 4.29 Lakh Crore, the highest, followed by Delhi at nearly Rs 1.93 Lakh Crore. Mumbai is also expected to contribute all of the Rs 12,800 crore expected via Securities Transaction Tax.
👉GST portal enables filing of Form GST ITC-04 in the official portal to furnish the details of the goods/ capital goods sent to the job worker and received back or supplied from the premises of the job worker. The existing form had been amended vide Notification No. 39/ 2018 – Central Tax, dated 4.09.2018.
👉GST Portal also updated the facility to file application for the cancellation of registration and filing clarifications by GSTPs With this, normal/Composition/ SEZ Developer/ SEZ Unit/ Casual Taxable Person/ ISD/ NRTP users can now select a GST Practitioner for Filing of Application for Cancellation of Registration.
👉SEBI plans ₹1 Crore Reward, Hotline Access for Informers/Whistle Blowers of Insider Trading. SEBI prepares a detailed set of rules for a new 'Informant Mechanism' under its Prohibition of Insider Trading (PIT) Regulations and it would be presented for its board's approval later this month.
👉Amid concerns over Banks citing 'Client Confidentiality' to resist Sharing of Information on Delayed Loan Repayments and Possible Defaults by their Borrowers, SEBI is planning to Tighten its Norms to make it Mandatory for companies to provide these details to Credit Rating Agencies.