Corporate Snippets on Dec 5
Ø SBI to sell 8.25% stake in UTI MF via OFS
Ø SAT refuses relief to lenders in Karvy Broking case
Ø IL&FS reports Rs. 22,527 crore loss for FY19
Ø 'India's cybersecurity market to touch $3 bn by 2022'
Ø Ashok Leyland announces non-working days for Dec
Ø SEBI action against auditors not 'turf war': Ajay Tyagi
Ø SAT asks NSE to take a decision on Karvy's licence suspension by Friday
Ø Anil Ambani firms' CoC to discuss Bharti Airtel's offer on Thursday
Ø Govt garnered Rs. 2.03 trn revenue from Coal India in last 6 fiscals: Joshi
Ø Govt. considering options to decontrol urea, says Fertiliser Minister
Ø Tata Power-ICICI Bank JV acquires UP based Prayagraj power project
Ø Cabinet approves Fourth Code of labour laws, land monetisation
Ø SAIL records 36 per cent growth in sales during November 2019
Ø Oil marketing firms’ bid to encourage alternative fuels
Ø Indian clothing market likely to be worth $53.7 billion in 2020
Ø Sembcorp to buy out Gayatri Energy’s stake in India venture
Ø US, China move closer to trade deal despite harsh rhetoric
Ø Bharat Bond ETF cleared, paves way for retail funds in corporate debt
Ø *Ujjivan Small Finance Bank IPO sees highest subscription in 2019 at 170 times*
Ø Sembcorp buys out Gayatri Projects' 5.95% stake in its subsidiary for ₹406 cr
Ø FMCG sales on e-commerce sites to touch $4 billion by 2022: Nielsen
Ø OPEC nations grapple with oversupply of oil
Ø GST Council to review revenue position, compensation cess on December 18
Ø Coca-Cola’s in-house bottling arm to transfer operations in north India to franchisees
Ø Govt. to launch first debt exchange-traded fund
Ø India's services industry returns to growth in November on strong demand: PMI
Ø Bharti Airtel board approves raising up to USD 4 billion
Ø United Breweries steps into craft beer market
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👉🏻MCA deactivates 19,40,313 Director Identification Numbers
(deactivated 19,40,313 Director Identification Numbers (DINs) in the MCA21 Database due to the non-filing of Know Your Client (KYC), as on 28.11.2019)
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http://bit.ly/2Lk7tZj
👉🏻Application Form for the Information Systems Audit (ISA) Assessment Test - ICAI
(Exam Date - 28th December, 2019. Last Date for receipt of application - 9th December 2019)
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http://bit.ly/35XKqLJ
👉🏻MCA launches databank of independent directors
(The initiative provides a platform for the registration of existing independent directors as well as individuals aspiring to become independent directors)
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http://bit.ly/35XPv6I
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GST: Telangana faces tax revenue shortfall of Rs 838 crore:
READ MORE- https://www.gststation.in/gst-telangana-faces-tax-revenue-shortfall-of-rs-838-crore/
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👉The government has recently appointed 28 more members in NCLT and 4 more members in NCLAT, in order to quicken the legal proceedings and reduce the pendency of cases.
👉NCLT orders liquidation for Lanco Babandh. The bankruptcy court removed the resolution professional for the Lanco group company, and appointed a liquidator from AAA Insolvency Professionals to sell off the assets.
👉NCLAT dismisses abuse of dominance charge against BMW India.
👉The Supreme Court has upheld the National Company Law Appellate Tribunal’s October 15, 2018 order disallowing encashing of bank guarantees furnished by IL&FS Group companies, offering relief to banks that have stood guarantors to the infrastructure conglomerate’s projects.
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👉🏻Delhi HC stays interest levy on profiteered amount under GST
(Delhi High Court stayed the applicability of interest levied on the profiteered amount relating to the Goods & Services Tax (GST)
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http://bit.ly/33PSf4z
👉🏻Forensic Audit reveals LoUs worth Rs 25,000 Cr fraudulently issued in PNB fraud
(Forensic Auditor found that PNB issued 1,561 LoUs, valued at Rs 28,000 crore, to the Nirav Modi group. Of this, 1,381 LoUs worth Rs 25,000 crore were fraudulently issued)
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http://bit.ly/2Lqa18l
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Important Due Dates : 📆
07-12-2019- Due date for TDS Payment for the November month.
11-12-2019- GSTR-1 – for month of November 2019 (taxpayers with Annual Aggregate turnover above Rs. 1.5/-Crore or opted to file Monthly Return).
20-12-2019- GSTR-3B – for the month of November 2019. Pay due tax till this date.
31-12-2019- GSTR-9C – Annual Return for fy 2017-18 by registered person and for Financial Year 2018-19 to March 31, 2020.
31-12-2019- GSTR-9 – Annual Return/Statements for FY 2017-18 by all registered persons having an aggregate turnover of more than Rs.2/-Crores or opted to file Annual Return.
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Central Board of Direct Taxes (CBDT) has said that there has been a 20 per cent increase in processing of Refund returns for the current assessment year as compared to the same period in the previous year.
GST; 2.12.19, e-way bill cant be generated by supplier, buyer or transporter if GSTR-3B of 2 consecutive months not filed by any one of them.
GST Portal: Taxpayers can now see all the GSTINs mapped to same PAN across India, at the time of filing the Part A of the registration application form for new registration, on same PAN.
GST: Taxpayers applying for registration as OIDAR can now give details of their authorised representative appointed in India (Name, PAN, Mail & mobile number) in Part A of the registration Form GST REG 10.
GST: The validation of unique combination of same PAN, Email and Mobile number has been removed while filing registration application by already registered taxpayers. Now another registration can be taken by already registered taxpayers (Normal, Composition, Casual, TDS, TCS, GSTP) by giving same (or any) combination of PAN, Email or Mobile number.
Federal indirect tax body, the Goods and Services Tax (GST) Council, will meet later this month to discuss various revenue raising measures including changes to GST rates and cess levied on select goods.
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👉As per the data provided by National Company Law Tribunal (NCLT), total 19,771 cases were pending with NCLT benches on 30.09.2019, which include 10,860 cases under Insolvency and Bankruptcy Code (IBC), 2016.
👉Insolvency resolution professionals would be barred from having employment when they are in possession of authorisation to take up work under the insolvency law.
👉The overloaded National Company Law Tribunal is set to receive a huge chunk of resolution plans in early January as banks scramble to come up with a plan for loans worth Rs. 3 lakh crore under the June 7 circular.
👉An insolvency professional has complained to State Bank of IndiaNSE -0.10 % (SBI) about the selection criteria it is using to appoint resolution professionals (RPs) for companies undergoing bankruptcy.
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