23rd February 2K21
Ø L&T wins power transmission, distribution orders worth up to Rs 5,000 cr
Ø Liberty Steel signs MoU for hydrogen-based steel making in France
Ø Rising Sun Energy emerges winner in NTPC auction
Ø State Bank of India joins JPMorgan's blockchain-based payment network
Ø Tata Motors to tap JLR synergy for SUVs
Ø RIL announces O2C biz demerger ahead of Aramco deal
Ø India, Mauritius ink landmark economic cooperation agreement
Ø Relief for HDFC Bank as SAT stays Sebi directive on Rs 160 cr transfer
Ø Alphabet-backed Oscar Health eyes as much as $6.7 bn IPO valuation
Ø Airtel, L&T and TCS to see huge passive inflows as global indices rejig
Ø DHFL auditor unearths another fraudulent transaction worth Rs 6,182 cr
Ø SC stays Future Retail-Reliance deal; issues notice to companies
Ø Four firms in the fray to pick up Blackstone’s stake in Mphasis
Ø Kinara Capital get $10 mn funding from IndusInd Bank; also 100% guarantee from US Int’l DFC
Ø Petrol and diesel consumption fall in January as prices shot up
Ø Snap hits $100-bn market value after doubling in four months
Ø IPO-bound Zomato raises another $250 million
Ø Goodyear to buy Cooper Tire for $2.8 billion, nearly doubling China presence
Ø LVMH's Moet Hennessy buys 50% of Jay-Z’s champagne brand Armand de Brignac
Ø Input inflation, muted demand drags on earnings growth
Ø CCI approves stake purchase by Panatone Finvest in Tata Communications Ltd
Ø China urges US to lift trade restrictions, stop interference
Ø Pandemic will force 18 million Indians to find a new occupation by 2030: Report
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⚫Launching a slew of projects in the power and urban sectors in Kerala, PM said India is devoting great importance to solar energy to ensure a stronger fight against climate change and also connect the country's farmers with the solar sector.
⚫The agriculture ministry has been permitted to use drones for remote sensing data collection under PM Fasal Bima Yojana.This will allow ministry to use drones for remote sensing data collection in agricultural areas of 100 districts of the country for gram panchayat level yield estimation.
⚫The country's foreign exchange reserves fell by $249 million to $583.697 billion in the week ended February 12.
⚫Traders' bodies were divided on the Bharat bandh call on February 26 against provisions of the GST as a national-level organisation of small businessmen on Friday said it is opposed to the move.
⚫ED intensifies Amazon probe, govt seeks info. This follows report claiming e-commerce giant dodged Indian regulations.
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💡GST Updates 20.02.2021
📌Facility to opt for Composition scheme for FY 21-22 has been enabled at the GST common portal. Last date is 31.03.21.
📌BSE oil & gas index at new 52-wk high; Modi commits to bring gas under GST
https://www.financialexpress.com/market/3-oil-modi-commits-to-bring-gas-under-gst/2197854/.
📌Housing societies, clubs rush to rework GST dues over retro amendment.
https://timesofindia.indiatimes.com/city/mumbai/hsg-societies-clubs-rush-to-rework-gst-dues-over-retro-amendment/articleshow/81096788.cms
📌GST Audit for the FY 2019-20 due date is 28th Feb, 2021.
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⚫The 6th meeting of the NITI Aayog Governing Council concluded with states along with the Centre deliberating on various steps such as to reduce compliance burden on firms to boost manufacturing, initiating reforms at the state level, promoting exports through district level competition and increased public investment to complete projects under the National Infrastructure Pipeline. PM made a strong case for repealing archaic laws and making it easier to do business in India, stating that the Centre and states need to work closely to boost economic growth.
⚫The new enrolments with retirement fund body EPFO grew by 24% to 1.25 million in December compared to the same month in 2019.
⚫The RBI has imposed a withdrawal cap of Rs 1,000 on customers of Deccan Urban Coop Bank and barred the lender from granting fresh loans or accepting deposits.
⚫Petrol price touched an all-time high of Rs 97 per litre in Mumbai while diesel rate crossed Rs 88 mark. Petrol price was hiked by record .39p/litre and diesel by .37p/litre.
⚫Maharashtra reported more than 6,000 new coronavirus cases for the 2nd day in a row. While Kerala & Maharashtra continue to report a surge in cases, a trend of rise in infections is also being observed in Punjab, Chhattisgarh and Madhya Pradesh.
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⚫As many as 448 central sector infra projects have reported a cost overrun of over Rs 4.02 lakh crore as of February 21, 2021.The monthly Report by the Ministry of Statistics Program Implementation said that 539 projects are running behind schedule.
⚫Venture capital funded start-ups, especially in edtech, logistics and gig economy will be key drivers of the job market in 2021, with companies willing to pay a premium for talent with knowledge and experience in new-age digital skills such as AI, ML, data science.
⚫The Nabard is planning to raise up to Rs 40,000 crore through long-term bonds. The money raised will be mostly used for rural development program run by the Govt.
⚫RBI scoops up Rs 26,000-crore bonds anonymously in a single day. This shows that the RBI is pumping in enough liquidity in the system.
⚫Maharashtra CM on Sunday announced that in view of the rising Covid cases, all political, religious and social gatherings will be prohibited in the state from Monday. He also said that political agitations will not be allowed for the next few days as they attract crowd.
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👉 Filling up of posts of Driver in NFRA at New Delhi on Deputation/Re-employment.Pdf(2.25 MB)
http://www.mca.gov.in/Ministry/pdf/NoticeNFRA_19022021.pdf
👉 Companies (Specification and definitions details) 2nd Amendment Rules 2021Pdf(77 KB)
http://www.mca.gov.in/MinistryV2/homepage.html
👉 Important Announcement for May 2021 CA Examinations - (19-02-2021)
https://www.icai.org/category/announcements
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⚫India signed a landmark Comprehensive Economic Cooperation and Partnership Agreement with Mauritius, making the strategically-located country a launch-pad for business expansion into the huge African continent.
⚫PM said that Govt’s announcement last August of a “negative list”, consisting of 101 defence items embargoed progressively for import, was actually a “positive list” under the Aatmanirbhar Bharat programme.This is a positive list that will increase our mfg capacities, generate new employment, reduce dependence on imports, and will give a guarantee to the products being manufactured in India to be consumed in India.
⚫The Labour Bureau is all set to launch its five major surveys, including on migrant and domestic workers, across the country by April 1 as two out of three mandated pre-testings of the studies yielded "encouraging and positive results".
⚫The Bihar Govt presented a Rs 2.18 lakh crore budget for 2021-22 fiscal in the Assembly, with no new tax and a thrust on infrastructure and social sectors.
⚫The UP Govt has made a provision of Rs 1,175 crores in the state budget presented in the assembly on Monday for different metro rail projects.
⚫The cumulative number of COVID-19 vaccine doses administered to healthcare and frontline workers in the country has crossed 1.14 crores.
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MCA has notified on its website for the information of all the Stakeholders that the MCA will be extending some of provisions of the Companies Act, 2013 to LimitedLiability Partnerships (LLP) with modification and adaptation soon. As per the proposal, MCA may extend provisions of Section 90 (Significant beneficial Ownership), Section 164 (Disqualification & Appointment of Directors), Section 165 (Maximum No. of LLP for an individual), Section 167 (Vacation of Office of Director), Section 206 (Power of Central Government to call for Inspections), Section 207 (Conduct of Inspection & Inquiry), Section 252 (Appeal to NCLT for Restoration of Name) and Section 439 (Offence to be Non-Cognizable) of the Companies Act, 2013 to limited liability Partnerships with modification and adaptation soon. Accordingly, limited liability Partnerships, Partners and Designated partners thereof are advised to take note of the same for appropriate action. The final notification, amendments and circulars in this regard is awaited.
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👉🏻CBIC provides facilitation for exporters having IGST refund issues
(CBIC has extended the time limit for sanction of pending IGST refunds in such cases where records have not been transmitted to ICEGATE due to GSTR1 and GSTR3B mismatch error)
👇🏻 👇🏻 👇🏻
http://bit.ly/2NysQuf
👉🏻DHFL transaction auditor unearths another fraudulent transaction worth Rs 6,182 Cr
(Dewan Housing Finance Corporation (DHFL) said its transaction auditor has reported another fraudulent transaction of Rs 6,182 Cr in the company)
👇🏻 👇🏻 👇🏻
http://bit.ly/3dEz9XU
👉🏻Can a Chartered Accountant Sign the Provisional / Projected Balance Sheet / Financial Statement?
(Can a Chartered Accountant Sign the Provisional / Projected Balance Sheet / Financial Statement discussed by *CA. Vivek Khurana*)
👇🏻 👇🏻 👇🏻
https://bit.ly/2P2Fsu2
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