⚫The GST Council will meet on May 28, after a gap of more than six months to rework compensation shortfall and borrowing requirement and provide tax relief on Covid-19 related goods.
⚫Covid second wave pushes India's pharma industry growth to 59% in April and resulted in exponential growth for the pharmaceutical sector.
⚫Sebi's relaxed norms likely to give private equity firms faster exits. Sebi also plans to replace the "promoter" concept to "person in control".
⚫SBI eyes over Rs 10000 crore credit pipeline for building hospital infrastructure.
⚫The overall COVID-19 situation in the country is stabilizing and the Govt will work towards ensuring further stabilisation. Top health officials said 10 states account for 85% of the total coronavirus cases in the country.
⚫With 18 mn Covid jabs, nearly 13% of India's population vaccinated so far.
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E-KNOWLEDGE CAPSULE
✒ Supreme Court has directed the Central Government and Government of National Capital Territory of Delhi, States of Haryana and Uttar Pradesh to provide dry ration to migrant workers in National Capital Region.
✒️ Supreme Court has observed that the existence of an arbitration clause does not debar the court from entertaining a writ petition in a contractual matter.
✒ Bombay High Court has directed the Central Government to ensure that the allotted quota is made available to the State at the earliest, noting that there were almost 40 Covid related casualties at the Goa Medical College.
✒ Bombay High Court has allowed a 16-year-old survivor of sexual assault to terminate her 23-week-old pregnancy in a petition moved by the father of the child.
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May, 14th 2021
UDIN Directorate
The Institute of Chartered Accountants of India
12th May, 2021
ANNOUNCEMENT
Mandatory updation of UDINs in all Income Tax Forms at e-filing Portal
Members are aware that the CBDT vide its press release dated 26th November 2020 has mandated the validation of the Unique Document Identification Number (UDIN) generated from ICAI portal in all the Income Tax Form and Audit Reports uploaded at the e-filing portal.
We have been given to understand that CBDT is in process of mandating the updation of UDINs for all IT Forms prior to its upload on the e-filing portal by the members. In other words, members would be required to first generate UDIN and provide the same while uploading the IT forms.
Further, CBDT has given the extension for updating UDINs for all the IT forms at the e-filing portal till 30th June, 2021.
In view of the above, the members are requested to avail this opportunity and update the UDINs on the e-filing Portal at the earliest but not later than 30th June, 2021 to avoid likely invalidation.
For detailed FAQs please click here
For any clarification, please write us at udin@icai.in.
UDIN Directorate
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⚫PM released the 8th instalment of PM-KISAN income support totalling over Rs 20,000 crore to 95 million farmers. This was for the first time that the benefits reached the farmers of West Bengal as about 703,000 of them got Rs 2,000 each.
⚫India’s overall exports are estimated to have grown 93.21% to $51.79 billion in April on a low YoY base.
⚫New SIP registrations down 16% sequentially in April on Covid impact. The distributors have been facing difficulty to reach out to newer clients particularly in the rural areas.
⚫270 black fungus cases reported in Pune. Govt to come up with a set of SOPs for patient management in hospitals.
⚫A total of 10,796 oxygen concentrators, 12,269 oxygen cylinders, 19 oxygen generation plants and about 4.2 lakh Remdesivir vials received as global aid were delivered or dispatched through road and air to various states and union territories.
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✅ ESI Contribution for the month of April 2021 and now can be filed and paid upto 15th June 2021 instead of 15th May, 2021.
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