Corporate Snippets on Jan 7
Ø RBI revises supervisory norms for UCBs
Ø RBI buys and sells bonds worth Rs 10,000 cr each
Ø Cement demand may rise by up to 6% on govt’s mega infra push
Ø NTPC outbids Adani for Avantha’s MP plant
Ø Two senior Samsung India executives resign
Ø NCLAT upholds its judgment in Tata-Mistry case, dismisses RoC plea
Ø Oil-linked stks trade weak as oil prices surge; HPCL down 5%
Ø Banks slip up to 4% as US-Iran tension push bond yields higher
Ø UTI Mutual Fund receives payments of Rs 20.5 cr from Altico Capital India
Ø Telecom industry urges Govt. to facilitate funding at lower interest rate
Ø Cotton exports fall to nearly half on higher domestic prices during October-December 2019
Ø Bank of Maharashtra cuts MCLR by up to 45 basis points
Ø Higher diesel prices push up truck rentals in first week of January: IFTRT
Ø Prestige Group plans 6 malls, eyes largest mall operator tag
Ø Tata Capital Housing launches ₹2,000 crore maiden NCD issue
Ø Citigroup to hire 2,500 IT professionals for offices in Chennai, other locations
Ø PM Modi reaches out to India Inc to revive economic momentum
Ø Gold prices today surge to record high, jump ₹1,800 per 10 gram in 2 days
Ø Xerox secures $24 billion financing for proposed HP takeover
Ø Loan waiver may cost Maharashtra Rs 51,000 cr; Govt. better announce these measures to help farmers
Ø Supreme Court asks Nusli Wadia, Ratan Tata to resolve differences in defamation case
Ø Exim Bank hits global bond markets with $1-billion issue
Ø Nifty nosedives 234 pts on war fears, SENSEX has its worst day in six months
Ø Petrol, diesel prices up for the fifth straight day as crude hits USD 70 mark
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👉Filling up the post of Sr.Assistant Director( Banking) in SFIO on deputation/ISTC basisPdf(85 KB). http://www.mca.gov.in/Ministry/pdf/AddendumpostBanking_07012020.pdf
👉Companies (appointment and managerial personnel) Amdt Rules 2020. http://www.mca.gov.in/Ministry/pdf/AmdtRules_06012020.pdf
👉ITR filing: 6 key changes in ITR-1 you need to know.
Here's a list of the 6 key changes, including the above, introduced in the ITR1 for financial year 2019-20.
https://economictimes.indiatimes.com/wealth/tax/itr-filing-6-key-changes-in-itr-1-you-need-to-know/articleshow/73120215.cms
👉Important dates
CMP-08(Oct-Dec, 2019) = Jan 18th, 2020.
👉GSTR-1 for registered persons with aggregate turnover up to ₹ 1.5 Crores.
GSTR-1(Oct-Dec, 2019)=Jan 31st, 2020.
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👉🏻Revenue department unearths IGST refund fraud by top exporters
(CBIC has identified at least 9 star export houses that are untraceable and 82 such exporters whose declarations before income tax and GST have significant variance)
👇🏻 👇🏻 👇🏻
http://bit.ly/35v9dWE
👉🏻Private Companies with large borrowings to undergo Secretarial Audit
(Private companies with total outstanding debt of Rs 100 crore or more to banks and financial institutions will now have to submit a secretarial audit)
👇🏻 👇🏻 👇🏻
http://bit.ly/2sW2SX4
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ITR 1 & 4 notified for AY 2020-21 can’t be used if assessee owns property jointly with 2 or more persons. Income-tax (1st Amendment) Rules, 2020 wef 1.4.20.
A number of trusts set up in overseas tax havens using a complex maze of entities have come under the scanner of Indian and Swiss authorities for suspected tax evasion by parking of illicit funds in Switzerland-based banks, as per notices issued to those entities. In addition, several individuals who are suspected to have moved abroad after evading taxes back in India are also being probed and their banking details are in the process of being shared by the Swiss authorities with their Indian counterparts.
GST: Medicines/consumables used in the course of providing health care services is ‘composite supply’, exempt from GST. CMC Vellore Association, In re- [2020] 113 taxmann.com 55 (AAR - TAMILNADU).
Revenue Department has brought to the notice of the Directorate General of Foreign Trade (DGCF) instances of ‘mis-availment’ of Integrated Goods & Services Tax (IGST) refunds, based on fake invoices, by some exporters holding ‘star’ status. It has also advised the DGFT, under the Commerce Ministry, to make the exporters’ accreditation system more robust.
MCA increases Threshold Limit for requirement to appoint of CS in Pvt. Ltd. From Rs. 5 Cr. to Rs. 10 Cr. MCA notification dtd. 3rd January, 2020.
MCA adds Additional criteria for requirement of Secretarial Audit if outstanding loan or borrowings from banks or PFIs is RS 100 Cr. Or more. Notf dtd 03.01.20
