Corporate Snippets on April 22
Ø 72% companies to take a Covid hit, 61% to defer expansion: FICCI survey
Ø RBI EMI moratorium could provide liquidity to cos
Ø 'Stress on industry due to Covid-19 to extend beyond Q1'
Ø Voda Idea pays Rs 1,367 cr to Govt. towards licence fee
Ø ICICI Bank confirms exposure to oil trader Hin Leong
Ø Nestle resumes manufacturing at all plants
Ø MCX to extend trading time for non-agri goods
Ø RBI considers standing deposit facility to manage extra liquidity
Ø ACC reports drop of nearly 7% in Q1 consolidated net profit at Rs 323 cr
Ø Oil firms float finished fuel products on Arabian Sea as demand slumps
Ø OMCs, RIL better placed; oil producers stare at losses as crude plunges
Ø SEBI grants breather to firms, extends expiration date for IPO approvals
Ø Ind-Ra rates Mahindra & Mahindra NCDs 'AAA' with stable outlook
Ø Proposed Electricity Act may rework slabs for residential consumers
Ø Oil crash adds new shock to limping world economy
Ø IRDAI allows payment of health cover premium in instalments
Ø MFIs, banks bullish on fast recovery of rural economy post lockdown
Ø Indian PE, VC investments likely to fall 45-60 per cent: EY
Ø Jyothy Labs launches Margo hand sanitiser
Ø Oil crash adds new shock to limping world economy
Ø India’s domestic cooking gas demand spikes in April during lockdown
Ø CII seeks further easing of lockdown, wants more businesses to resume
Ø Investor wealth drops ₹3.30 lakh crore as equity markets tank
Ø Reduced market hours caused fiasco in crude settlement at MCX
Ø Fighting COVID-19: Govt may roll out fiscal package 2.0 today
Ø Time for India to think long-term during Covid-19 crisis, says economist Arvind Panagariya
Ø Coronavirus relief: SEIS sops for services exporters to continue
Ø RBI 3-month EMI moratorium could provide Rs 2.1 lakh cr liquidity to companies
Ø NSE cautions trading members over using video conferencing app Zoom
Ø Nearly 57 per cent of companies to face pandemic's negative impact, survey states
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👉🏻RBI asks banks to extend all benefits announced by govt pertaining to short-term crop loans to farmers
(RBI asked banks to extend the benefit of interest subvention (IS) and prompt repayment incentive (PRI) for short-term crop loans to farmers till 31st May, 2020)
👇🏻 👇🏻 👇🏻
https://bit.ly/2Vr5V4Z
👉🏻Emails to taxpayers for tax refund should not be misconstrued - CBDT
(CBDT said that its email seeking clarification from all those taxpayers who are entitled to get tax refund but also have outstanding tax to pay should not be misconstrued)
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https://bit.ly/3ezGrdk
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GST Form PMT-09 is available on Portal: Use of Form GST PMT-09 is for "Transfer of amount from one account head to another in electronic cash ledger".Major Head - IGST/CGST/SGST/Cess Minor Head - Tax/Interest/Late Fee/Penalty/Other Transfer from One Minor Head to Another Minor Head Any amount deposited under wrong head can be transferred to correct head through this Form immediately.
GST Taxpayers can now file GSTR-3B by EVC, without using DSC Read More at: http://www.a2ztaxcorp.com/taxpayers-can-now-file-gstr-3b-by-evc-without-using-dsc/
MCA has issued General Circular No. 18/2020 dated 21st April, 2020 regarding *Holding of AGMs by companies whose financial year ended on 31st December, 2019. Now these Companies may hold their AGM by 30th September, 2020 instead of 30th June, 2020.
http://www.mca.gov.in/Ministry/pdf/Circular18_21042020.pdf
No A/c can be declare as NPA till 31st May. Bombay high court decision and a RBI circular due to which bank accounts can be saved from being NPA till 31st May 2020.
Insolvency and Bankruptcy Board of India (‘IBBI’) vide its notification dated 17th April, 2020 has brought amendment in the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 by stating that the period of lockdown shall be excluded for the purpose of computation of the time-line for any task that could not be completed due to such lockdown, in relation to the liquidation process.
ICAI has decided to waive off condonation fee on delay filing of all articled/industrial training related application forms till 30th June 2020 if transaction date in such application forms falls between 1st March 2020 to 30th May 2020. This period includes one-month prescribed time limit given in general.
ICAI has issued an advisory for the Bank Branch Auditors for initiating the process of Statutory bank branch audit remotely to ensure timely and effective Bank Audit. The said advisory has been emailed to all the Applicants whose names were appearing in the RBI Bank Branch Audit Panel. Members / CA Firms who have been allotted the Branch Audit of PSBs for the year 2019-2020, may please check their emails
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