Corporate Snippets on Jan 10
Ø No financial and technical yardstick for coal auctions
Ø Growth in India projected to 'decelerate' to 5%: WB
Ø Sitharaman's tax, asset sales nos are trailing target
Ø EV dream not very far, need priority financing: M&M
Ø Rupee surges 48 paise as US-Iran tensions ease
Ø ICICI Pru invests Rs 334 cr in own credit risk fund
Ø CCI’s ‘soft view’ on Ecomm rules irks phone retailers
Ø Videocon loan case: ED likely to attach Chanda Kochhar's property, assets
Ø Exporters approach court over cess on export incentives, get interim relief
Ø Credit supply to commercial sector slows to multi-year low of 8.1%: SIDBI
Ø Tax Dept allows joint property owners to file returns using simple forms
Ø India needs 6.3% labour productivity growth to clock 8% GDP: India Ratings
Ø Now, World Bank lowers India’s FY20 growth estimate to 5%
Ø At $81.39 billion, Tesla beats GM, Ford to become highest valued US automaker of all time
Ø Ashok Leyland, ABB arm ink pact to develop electric buses with flash- charging tech
Ø IL&FS seeks EoI to sell stake in GRBDCL
Ø GHAL to develop ₹550-crore logistics park
Ø Coffee Day defaults on repayment of loans to banks, others
Ø Tiger Global invests $200 million in BYJU's; valuation jumps to $8 billion
Ø Sterling and Wilson must provide exit option for minority shareholders: InGovern
Ø Shifting palm oil into ‘restricted list’ was a commercial decision: India
Ø Bharti Airtel board meet on 14 Jan to decide issue price for QIP, FCCB
Ø HDFC completes majority acquisition in Apollo Munich Health Insurance
Ø FTAs with EU, Australia, Canada to help boost textile exports: AEPC
Ø ‘World Bank lowers Pakistan’s growth rate at 2.4 per cent’
Ø China’s economy czar going to Washington to sign trade deal
Ø China opens oil and gas exploration to foreign firms
Ø SoftBank denies exiting renewable energy JV with Bharti Enterprises, Foxconn
Ø Global air freight demand slips down 1.1 pc in November: IATA
Ø Union Budget must focus on economic growth by boosting real estate: NAREDCO
Ø Inflation probably breached RBI target in December: reports
Ø World Bank trims 2020 growth forecast amid slow recovery for trade
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CBDT Amendment of rule 10DA and rule 10DB regarding furnishing of information and maintenance of documents by Constituent Entity of an international group – Notification No. 03/2020-Income Tax Dated: 6th January, 2020.
GST: Today 10.1.20 is Last Day to file pending GSTR-1 from Jul 2017, to avoid late fee & blocking of eway bill, even if 2 consecutive GSTR-1 not filed.
However, Due date of late fee waived for the GSTR-1 pertaining to period July, 2017 to Nov, 2019 to be extended from 10th Jan, 2020 to 17th Jan 2020:
READ MORE- https://www.gststation.in/due-date-of-late-fee-waived-for-the-gstr-1-pertaining-to-period-july-2017-to-nov-2019-to-be-extended-from-10th-jan-2020-to-17th-jan-2020/
GST Department to Audit 70% of Taxpayers for AY 17-18. GST authorities have begun issuing notices for the tax audit exercise, which involves detailed scrutiny of the accounts and records for FY18. Tax authorities have issued notices seeking audit of accounts and records from July 2017 till March 2018, the first year of GST implementation.
MCA has extended the time offered to companies to provide information about persons who control 10% or more stake in the entity by 3 months. The process of informing the MCA about significant beneficial owners (SBOs) is part of the exercise to bring in more transparency about persons with significant control over a firm.
National Company Law Tribunal on warned Jet Airways (India) Ltd. Committee of Creditors of contempt proceedings if they do not release interim funds to the resolution professional by Jan. 20 for completion of insolvency proceedings.
RBI is planning to auction distressed private banks that are under the Prompt Corrective Action (PCA) framework for a prolonged period, the Business Standard reported. This is part of the RBI’s plan to have a different rule book for distressed banks.
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👉 Jaypee Infratech's Interim Resolution Professional Anuj Jain has filed an application before the National Company Law Tribunal (NCLT), Allahabad, to approve the bid of state-owned NBCC to acquire debt-laden realty firm through insolvency process, sources said. Last month, NBCC won the bid to acquire Jaypee Infratech after financial creditors, including lenders and homebuyers, approved its resolution plan.
👉 In a significant change in the liquidation framework, the Insolvency and Bankruptcy Board of India (IBBI) has prohibited secured creditors from selling assets of a company to any person restricted from submitting an insolvency resolution plan.
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👉Important tax dates in the year 2020.
👉Jan-15 Quarterly statement of TCS deposited for quarter ending December 31, 2019.
👉Jan-30 Issue of Quarterly TCS certificate in respect of tax collected for the quarter ending December 31, 2019.
👉Jan-31 Quarterly statement of TDS deposited for the quarter ending December 31, 2019.
