17th May 2K21
Ø Cairn identifies $70 bn Indian assets for seizing to recover amount due from govt
Ø India's once-in-a-century budget runs into trouble as virus strikes back
Ø Airtel counters Jio, rolls out offers for low-income users
Ø RBI raises concerns over dual microfinance regulation in Assam
Ø SBI to sell three NPA accounts next month for recovery of over Rs 235 crore
Ø New rules for taxing MNCs' welfare expenses
Ø India's Oil demand shrinks further as coronavirus crisis persists
Ø Adani Green in advanced talks for SoftBank-backed SB Energy: Report
Ø Defaulters seek generous bailouts like Siva-IDBI Bank one-time settlement
Ø M-cap of eight most valued India companies falls Rs 1.13 trillion
Ø Hester in talks with Bharat Biotech to produce Covaxin via tech transfer
Ø Swiss Parliament panel to discuss Credit Suisse billion-dollar scandal
Ø CBIC rolls out ‘Special GST Refund Disposal Drive’
Ø HLL Biotech may soon find suitor to produce vaccine
Ø We Founder Circle to invest up to $150,000 in 40 start-ups in FY22
Ø Over 1.3 million blue-collar jobs up for grabs in India
Ø PNB raises ₹ 1,800 crore via QIP offering
Ø Strong demand, low base boost India Inc’s earnings growth in Q4
Ø Hero MotoCorp ready to introduce products in electric segment next year
Ø AT&T is in talks to combine content assets with Discovery
Ø Amazon partners with sellers to supply oxygen concentrators to Indian customers
Ø Macrotech to double its investment in construction to ₹2,800 crore in FY22
Ø Tesla may have to hold its big hoard of Bitcoin for decades
Ø Economic recovery losing steam, GDP growth may be below 9% in FY22 due to 2nd COVID wave: Survey
Ø Truck rentals drop by 5-7% in past fortnight as Covid lockdowns hit production
Ø Aditya Birla Capital Posts Highest-ever Quarterly Net Profit Of Rs 375 Cr
Ø Penna Cement Files Rs 1,550-Cr IPO Papers With Sebi
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NIRC of ICAI has represented The President ICAI for Considering of the creation of a special Covid -19 Assistance corpus need for CA members legal heir
We appreciate the current benefit approved by ICAI for its members suffering from Covid19. However, one would agree that there are number of untimely and unexpected deaths of our members are happening because of Covid19.
The above scenario requires onetime support in addition to the other support extended by the ICAI.
1. Thus we propose as under; to request The President of ICAI for Creation of a Special Covid- 19 Assistance Corpus for members of the Institute, by granting one-time financial assistance* to their legal heir of deceased Member(s) who have lost their life, between 1st April, 2020 to 31st March, 2022, due to Covid-19. As per the guidelines to be issued by ICAI, the Financial Assistance will be as under:
Category of Members Eligible Amount (in Rupees)
Members less than 60 yrs. Rs.10,00,000/- (Rupees Ten Lakhs only).
Members who are 60 years and above Rs.2,00,000/- (Rupees Two Lakhs only),
We would also like to bring to your kind attention that ICSI has also extended the support to its members on the similar lines.
2. Consider requesting The President ICAI to Create a Covid Task Force at a Central level for facilitating the Vaccine Drive to all CA members above 18 years of age and their immediate family by having a MOU with the health ministry for the same. Similar facilities have been provided by Bar Council to their members has already started the same facility. *This is very urgent and needs to be finalized on war footing.
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🇮🇳 GST Updates 16.05.2021
1️⃣ GSTN: As the last date of filing GSTR-1 for April, 2021 has been extended up to 26th May, 2021 and IFF up to 28th May, 2021, the GSTR-2B for April, 2021 shall be generated on 29th May, 2021.
2️⃣ GSTN: Rate of tax column added in GSTR-1 for each HSN/SAC furnished in HSN summary.
3️⃣ GST Council to meet on May 28th May: FM Tweeted.
4️⃣ CBIC begins special refund and drawback disposal drive by customs to ease liquidity of MSME/Exporter during covid-19.
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⚫Amid a raging second wave of COVID-19 and restrictions on business activities imposed by several states, economic recovery is beginning to loose steam and the country's GDP growth is likely to be below 9% for the current fiscal.
⚫With around 65% of the total truck fleet in the country out of the road owing to lockdown in most of the states, the truck industry losses have mounted to around Rs 42,000 crore from the start of the fiscal till mid of this month.
⚫The Indian hotel industry has taken a hit of over Rs 1.30 lakh crore in revenue for the fiscal year 2020-21 due to the impact of the COVID-19 pandemic.
⚫Non-resident entities seek withholding tax breather amid second Covid wave. In absence of certificates, they risk having 40% tax cut from revenues.
⚫Union health ministry said requisite changes have now been done in the Co-WIN digital portal, as a result of which further online or on-site appointments will not be possible if the period after first dose date for a beneficiary is less than 84 days.
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✅ GSTN: As the last date of filing GSTR-1 for April, 2021 has been extended up to 26th May, 2021 and IFF up to 28th May, 2021, the GSTR-2B for April, 2021 shall be generated on 29th May, 2021.
✅ GSTN: Rate of tax column added in GSTR-1 for each HSN/SAC furnished in HSN summary.
✅ CBIC begins special refund and drawback disposal drive by customs to ease liquidity of MSME/Exporter during covid-19.
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