👉RBI announces Open Market Purchase of Government of India Securities under G-sec Acquisition Programme (G-SAP 1.0)
https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=51394
👉RBI to conduct 14-day Variable Rate Reverse Repo auction under LAF on April 09, 2021
https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=51393
👉Enhancement of limit of maximum balance per customer at end of the day from ₹1 lakh to ₹2 lakh – Payments Banks (PBs)
https://rbi.org.in/Scripts/NotificationUser.aspx?Id=12074&Mode=0
👉Engagement of Young Professionals (YPs) in Ministry of Corporate Affairs on contract basis.Pdf(221 KB)
http://www.mca.gov.in/Ministry/pdf/VacancyCircularYPs_09042021.pdf
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E way bill Alert: Fastag Data has been Integrated with E-Way Bill System to Track the Movement
The Press Information Bureau has published that “Recently, the Fastag data has been integrated with the e-way bill system. On a daily average, 24 Lakh Fastag transactions from 826 toll plazas, related to commercial vehicles are exchanged between NPCI/NHA and NIC systems. These details will help the GST officers to track the movement of e-waybills using the new analytical reports.”
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⚫Union Agriculture Minister appealed to the farmers protesting at Delhi borders to call off their long running agitation, saying the Govt is ready for a discussion whenever they come with a concrete proposal.
⚫The March quarter earnings season will begin in the coming week. 21 Co's will announce earnings. Overall the earnings season is expected to be strong but the key thing to watch out for would be the management commentary about FY22.
⚫The Govt may redraw the recapitalisation roadmap for public sector banks in the current fiscal as the institutions face additional burden to meet interest on interest obligation for all its borrowers while changes in valuation norms AT1 bonds by Sebi will make the instrument less attractive for banks to raise their capital.
⚫The Rs 2,500-crore IPO of Macrotech Developers (erstwhile Lodha Developers) got a lukewarm response from investors with the issue garnering just 1.37 times subscription. This is the least for any IPO in 2021.
⚫Maharashtra CM indicated the imposition of a strict lockdown in the state given the alarming rise in COVID-19 cases.
⚫With the total number of COVID-19 vaccine doses administered in the country crossing 10 crore, India is the fastest nation to administer 100 million doses in 85 days.
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👆 #Customs_News
DGFT has mandated all IEC holders to update their Importer-Exporter Code(IEC) yearly between April to June. IECs not updated within this prescribed period would be de-activated.
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👉🏻Constitutional validity of arrest rules under GST challenged in Supreme Court
(Companies have argued against the constitutional validity of arrest provisions under the goods and services tax (GST) laws in their present form in the Supreme Court)
👇🏻 👇🏻 👇🏻
https://bit.ly/3uvhIOo
👉🏻Centre sets Rs. 10 lakh trigger for MSME rescue scheme
(The Central government set a payment default of ₹10 lakh as the trigger for bankruptcy proceedings of small businesses under the new simplified scheme called pre-packs)
👇🏻 👇🏻 👇🏻
https://bit.ly/3uz6qIZ
👉🏻Amendments related to Religious and Charitable Trust.
(Amendments related to Religious and Charitable Trust as per Finance Act, 2021discussed by CA. Vidhu Duggal)
👇🏻 👇🏻 👇🏻
https://youtu.be/MFCrzuEzKX4
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⚫India closed the f/y 2020-2021 with a 9% decline in total fuel consumption over the same period last year. This fall is primarily attributed to Covid-19 lockdowns induced slump in economic activities. India’s total fuel consumption stood at 194.63mt during the year under review, down from 214.13 mt a year ago.
⚫Crackdown on tax evaders: I-T notices to holders of foreign assets. Seek action under black money and benami laws for non-disclosure.
⚫Commercial banks in India gave loans of almost 1.55 trillion in the last fortnight of the financial year, reflecting a surge in year end activity. The total lending was Rs 5.80 trillion in Fy21 lower than about Rs six trillion in Fy20. The outstanding credit stood at Rs 109.51 trillion as of March 26, 2021. On a yoy basis, the lending by commercial banks rose by 5.6% in the Fy21, a period marked by economic contraction due to pandemic as against 6.1% in Fy20.
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✅All TDS rates were reduced by 25% from May 14, 2020 to March 31, 2021 due to covid. Therefore TDS was deductible at 3.75% instead of 5% till March, 2021. Now full rate w.e.f. 1st April, 2021.
✅ FASTag data has been integrated with the e-way bill system. On a daily average, 24 lakh transactions related to commercial vehicles from 826 toll plazas are exchanged with NIC.
✅HSN code/ SAC mandatory on tax invoices as per revised requirement from 1st April 2021
✅Penalty for non-compliance of provisions for Dynamic QR Code to be waived off till 30th June 2021, if provisions are complied with from July 1, 2021
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