6th August 2K20
Ø Reliance Industries Limited ranked no 2 brand globally after Apple Inc
Ø India terminates anti-dumping probe on naphthalene imports from China, EU, others
Ø Zenara Pharma receives DCGI approval to manufacture, sell Favipiravir tablets
Ø Icra warns against moratorium extension
Ø RHFL audit proves diversion of funds: Sources
Ø RCom insolvency case adjourned to Aug 19
Ø Consultants likely to scrutinise government tenders and track Make-in-India: DPIIT
Ø July services activity shrinks for fourth month in a row; PMI at 34.2
Ø Canara Bank net profit up 23.5% at Rs 406 crore for June quarter
Ø Govt extends Sebi chairman Ajay Tyagi's term for another 18 months
Ø Strides Pharma Science Q1 net profit jumps over 4-fold to Rs 102 cr
Ø Domestic pharmaceutical industry to clock 4-6% growth in FY21: Icra
Ø Adani Gas profit declines 42% in June quarter as lockdown impacts sales
Ø India, Japan to hold investment forum
Ø Adani Gas to soon start full-service fuel retailing
Ø A ‘marathon’ run for BDR Pharma, maker of two Covid-19 drugs
Ø Apollo Tyres posts ₹135-cr loss in Q1
Ø Visaka Industries Q1 net up 49% at ₹34 crore
Ø DLF Q1 net loss at ₹71 crore
Ø Bad loans sold to ARCs: Banks may have to increase provision for security receipts
Ø Oman India Joint Investment Fund II buys 1.63% in DCB Bank
Ø US to pay $1 bn for 100 mn doses of J&J's potential coronavirus vaccine
Ø Airtel Kenya-Telkom merger called off
Ø Italy intervenes to suspend sale of Telecom Italia stake to KKR
Ø HDFC hits the street with ₹14,000 crore equity fundraise
Ø Sweden’s economy posted record slump during pandemic peak
Ø Teladoc bets big on online medicine with $18.5-bn Livongo deal
Ø US, China plan to review phase-one trade deal mid-month
Ø Income Tax compliance made easier; fewer cases go for scrutiny: FinMin
Ø Foreign trade regulator rejig to cut imports, promote ‘Make in India’ and ‘Ease of Doing Business’
Ø Sashidhar Jagdishan to take charge as HDFC Bank CEO from October 27
Ø India's fuel demand may take 6-9 months to reach normal levels: IOC
Ø BMW records first loss since 2009 as pandemic hits sales
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⚫The Govt proposes to expand the scope of the production linked incentive scheme to five or six more more sectors, including air conditioners and TV sets, leather, chemicals, furniture, tyres and toys, in a bid to boost manufacturing in the country.
⚫India's dominant services industry, shrank for a fifth straight month in July as restraining measures to stop the spread of the coronavirus hurt business activity and led to record job cuts.
⚫Medical technology industry has suffered around 50-85% drop in revenue during April-June with a decline in surgical procedures at hospitals due to COVID-19.
⚫Income tax returns picked up for scrutiny has reduced to 0.25% of the total ITRs filed in AY 2018-19, from 0.55% in AY 2017-18.
⚫Gujarat has emerged as most tax compliant state in the country in terms of proportion of return filers to PAN holders in AY 2018-19. The state had 22.3% income tax return filers out of the total PAN card holders in AY 2018-19, followed by Delhi, Punjab and Telangana.
⚫The Supreme Court suggested there should be cheaper treatment for Covid-19 patients in smaller towns and asked the Centre to consider the aspect of prompt release of claims by insurance companies which cannot keep their hands off at the time of pandemic.
⚫Extremely heavy rains will continue to batter Mumbai and neighbouring areas until Thursday morning
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✅ GST Updates
🎯The facility to view, filed and download returns of period July 2017 has been restored on GST portal.
🎯Portal has allowed downloading of details of invoices in Table 8A of GSTR-9 under Annual Return menu.
🎯8A is now downloadable in Excel format as Zip file for FY 2018-19.
🎯DHC in Jian International, 2020: If refund application is not processed in 15 days dept lost right to point out any deficiency and application deemed to be completed in all respects.
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