Thursday, 15 April 2021

15 April 2021 Updates

👉 New features of Form GSTR-2B & GSTR-3B made available to taxpayers under QRMP Scheme
https://www.gst.gov.in/newsandupdates/read/464

👉 Updates in Forms GSTR-1, GSTR-3B and Matching Offline Tool for taxpayers in QRMP Scheme
https://www.gst.gov.in/newsandupdates/read/466

👉 Publication of notice u/s 75 of the LLP Act, 2008 read with Rule 37 (2) of Limited Liability Partnership Rules, 2009Pdf(283 KB)
http://www.mca.gov.in/Ministry/pdf/RocHimachalRule37_13042021.pdf

👉 14th April, 2021 - Closed Holiday - (13-04-2021)
https://resource.cdn.icai.org/64462icaihr130421.pdf

👉 ICAI International Research Awards 2021 organised by Research Committee (Last Date for Nomination: May 31, 2021) - (13-04-2021)
https://resource.cdn.icai.org/64459research-awards-2021.pdf

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Income Tax Assessing Officer cannot treat Long Term Capital Gain as Bogus merely on SEBI investigation report. Case Name : M. Kiran Kumar Vs ACIT (ITAT Chennai)

GST Return: CBIC updates Forms GSTR-1, GSTR-3B, and Matching Offline Tool for Taxpayers in QRMP Scheme. 

Sebi came out with fresh guidelines on reporting formats for mutual funds. The formats for the reports to be submitted by asset management companies (AMCs) to trustees, by AMCs to Sebi and by trustees to the regulator have been revised on the basis of consultation from the industry.

Rupee crossed 75 a dollar on Monday as local equities markets witnessed a huge sell-off. The local currency closed at 75.06 a dollar, from its previous close of 74.73 a dollar. In intraday trade, the rupee fell to 75.145 a dollar. Sensex, the benchmark equity index of the BSE, fell 1707.94 points, or 3.44 per cent, to close at 47,883.38 points. 

Indian economy’s recovery is likely to be ‘K-shaped’ instead of a ‘V,’ as rising inequality is poised to hit consumption and growth prospects, according to the country’s former central bank Governor Duvvuri Subbarao. “An important consequence of the pandemic has been the sharpening of inequalities,” he said in an interview Friday. “Growing inequalities are not just a moral issue. 

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⚫E-commerce firms witness 2X rise in orders, gear up for second Covid wave. Maharashtra and Delhi, which reported most cases, have taken the lead in terms of the demand from customers ordering essentials and groceries online.
⚫IOC to buy Guyanese crude as India doubles up on cutting Opec dependence. This deal is at competitive rates and is in line with the strategy to have multiple sources of crude oil for Indian refiners.
⚫Fund raised through public and rights issues surged 115% and 15%, respectively, in 2020-21 despite the uncertainty due to the COVID-19 pandemic.
⚫Breaking all records, India registered its biggest ever single day spike with 199,569 fresh cases. Delhi recorded highest ever coronavirus diseases cases, breaking its own previous daily spikes.
⚫The CBSE cancelled class 10 exams and postponed class 12 exams in view of surge in Covid-19 cases. The result will be prepared on the basis of an objective criterion developed by the board.
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