◆India is hoping to sign energy deals with Saudi Arabia during PM Narendra Modi’s visit to the kingdom next week, a government official said. He said India has invited Saudi to participate in the country's strategic petroleum reserve. "We are well on our way to transforming the buyer-seller relation in this sector to a larger strategic partnership," the official added.
◆India's largest airline IndiGo reported its biggest-ever quarterly loss as costs related to aircraft repair and maintenance surged 88%. IndiGo's loss widened to ₹1,062 crore in the July-September period from ₹652 crore a year earlier, the only other instance that the airline reported a quarterly loss. IndiGo's revenue from operations surged 31% to ₹8,105 crore as it flew more passengers.
◆Finance Minister Nirmala Sitharaman said on Thursday that the government will plan to simplify GST in a bid to improve India's ranking in World Bank's Ease of Doing Business report. Sitharaman also said that efforts will be made to get India in the top 50 positions. India's rank in the survey climbed 14 places to 63 among 190 countries surveyed.
◆The Supreme Court has ordered telecom operators, including defunct ones, to pay the government ₹92,642 crore. It upheld the Telecom Department's argument that Adjusted Gross Revenue (AGR) should include all revenues and rejected companies' plea to exclude revenues from non-telecom businesses. Operators pay around 3-5% and 8% of the AGR as spectrum usage charges and licence fees, respectively.
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Last Date to File TDS Q2 is 31st Oct 2019 Penalty is Rs. 200/- per day subject to TDS Amount.
Last date to file TAR is also 31st Oct 2019. Non Filling of Tax Audit Report: Penalty a Sum equal to 0.5% percent of the total sales, turnover or gross receipts but not more that Rs. 1.5 Lakhs.
CIT(A) cannot enhance assessment by taking income which wasn't considered by AO during Income Tax assessment. ITAT DELHI BENCH Hari Mohan Sharma v. ACIT.
MCA has notified the Companies (Accounts) Amendment Rules, 2019 which shall come into force with effect from the 1 day of December, 2019.
Additional Fees to file MCA forms after Due dates:
LLP- 8 30/10/2019 Rs. 100/- per day
MSME half yearly 30/10/2019 NA
AOC- 4 29/10/2019 Rs. 100/- per day
AOC-4 XBRL 29/10/2019 Rs. 100/- per day
SEBI has begun its probe into alleged non-disclosure of price-sensitive information by Infosys management and also corporate governance lapses in the wake of serious allegations levelled by a whistleblower, while it is also examining possible insider trading in the company's securities.
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GST: Three booked for trying to influence DGGI probe:
READ MORE-*https://www.gststation.in/gst-three-booked-for-trying-to-influence-dggi-probe/
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DGGI unearths scam of availing ITC worth Rs 3 crore on bogus invoices:
READ MORE-*https://www.gststation.in/dggi-unearths-scam-of-availing-itc-worth-rs-3-crore-on-bogus-invoices/
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People with orthopaedic disability to pay lower 18% GST on some vehicles:
READ MORE- https://www.gststation.in/people-with-orthopaedic-disability-to-pay-lower-18-gst-on-some-vehicles/
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👉🏻Notice issued to a person not existing / not alive in the eyes of law.
(Income Tax Notice issued to a person not existing / not alive in the eyes of law - Valid or not explained by Adv (CA) Kapil Goel.)
👇🏻 👇🏻 👇🏻
https://youtu.be/frbsBz0vVqA
Thanks for reading