4th May 2K21
Ø RBI Governor meets MDs, CEOs of NBFC-Micro Finance institutions
Ø Recovery path for several sectors delayed due to second Covid wave: India Ratings
Ø WHO seeks to fill COVID-19 vaccine gap left by India suspending exports
Ø Bajaj Auto sells 1,34,471 units in domestic market in April
Ø Motherson Sumi acquires Bombardier's electrical wiring business
Ø OPEC's share of Indian oil imports plunges to 2 decade low: Trade sources
Ø RBI imposes Rs 3 cr fine on ICICI Bank for violating certain rules
Ø YES Bank's capital requirement for current fiscal pegged at Rs 7,500 cr
Ø JSW Energy signs PPA for 540 MW of wind power projects
Ø IDBI Bank Q4 net profit jumps 278% to Rs 512 crore; NII rises 38%
Ø Kotak Mahindra Bank's consolidated net profit rises 36% in Q4FY21
Ø Fidelity halves valuation of Ant Group after Chinese crackdown: Report
Ø CII calls for curbs on economic activity to contain Covid spread
Ø Income Tax Dept sets threshold for significant economic presence
Ø April factory activity improves and output prices soar amid Covid blues
Ø Sugar mills get orders to supply 302 cr litres of ethanol
Ø Demand for pre-owned two-wheelers up 20% YoY: OLX Autos
Ø HomeFirst Finance Q4 net profit surges 151%
Ø L&T Tech reports Q4 net profit at ₹194.5 crore; recommends ₹14.5/sh dividend
Ø Uday Kotak bats for central bank balance sheet expansion to fight covid
Ø Sebi eases timelines for compliance with requirements by debenture trustees
Ø Limited store hours may impact availability of FMCG goods
Ø PowerGrid InvIT sails through with 4.83 times subscription
Ø Growth of 6% in corporate revenue projected in FY22: Ind-Ra
Ø 75 lakh people lose jobs in April as lockdowns sprout; unemployment at a 4-month high: CMIE chief
Ø Gas-based power plants want relaxed bidding norms for ONGC tender
Ø Sensex Recovers 690 Points, Ends Lower By 64 Points
Ø Kerala Housing Finance Case: Sebi To Auction Property On June 4
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🔰 Ad hoc exemption from IGST on imports of specified COVID-19 relief material donated from abroad
✅ In view of the COVID-19 pandemic, the Central *Government has issued notifications exempting Basic Customs Duty and/or Health cess on imports of a number of COVID-19 related relief materials*, for a limited period.
The Press Release can be accessed at: http://www.a2ztaxcorp.com/ad-hoc-exemption-from-igst-on-imports-of-specified-covid-19-relief-material-donated-from-abroad/
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✍️MCA Updates - 03.05.2021
1. Relaxation of time for filing certain forms under the Companies Act, 2013.
http://www.mca.gov.in/Ministry/pdf/GeneralCircularNo6_03052021.pdf
2.Relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013.
http://www.mca.gov.in/Ministry/pdf/GeneralCircularNo7_03052021.pdf
3. Gap between two board meetings under section 173 of the Companies Act, 2013 (CA-13) – Clarification – reg.
http://www.mca.gov.in/Ministry/pdf/GeneralCircularNo8_03052021.pdf
4. The Ministry has issued General Circular Number 06/2021 and Number 07/2021 on 3rd May, 2021 allowing stakeholders to file various forms due for filing during 01/4/2021 to 31/05/2021 under the Companies Act, 2013/LLP Act, 2008 by 31st July, 2021 without payment of additional fees. The changes required in the MCA-21 System to implement this decision are being made and stakeholders would be informed in this regard in due course through a similar Notice. The stakeholders may, therefore, plan accordingly.
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E-KNOWLEDGE CAPSULE
✒ Due to COVID-19 pandemic it has been decided by Government to grant additional time upto 31rst july 2021 to file such forms (which have to file before 31rst march 2021) without any additional fees.
✒ Due to the rising cases of Covid-19 it has been decided that the requirement of holding meetings of the board of the companies on the *maximum gap of 120 days prescribed under companies act 2013 stands extended by 60 days for the first 2 quarter of 2020-2021.
✒ The Ministry has issued General Circular Number 06/2021 and Number 07/2021 on 3rd May, 2021 allowing stakeholders to file various forms due for filing during 01/4/2021 to 31/05/2021 under the Companies Act, 2013/LLP Act, 2008 by 31st July, 2021 without payment of additional fees. The changes required in the MCA-21 System to implement this decision are being made and stakeholders would be informed in this regard in due course through a similar Notice. The stakeholders may, therefore, plan accordingly.
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MCA relaxes Deadlines and Additional Fee on certain Forms under Companies Act, 2013 [Read Circular]
Read More: https://www.taxscan.in/mca-relaxes-deadlines-and-additional-fee-on-certain-forms-under-companies-act-2013/113221/
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⚫Barclays cuts India's FY22 GDP growth forecast to 10%.
⚫The second wave of COVID-19 and the resultant localised lockdowns have impacted over 75 lakh jobs, taking the unemployment rate to a four-month high of 8%.
⚫UK PM announces new one billion pound trade deal with India.
⚫The Govt exempted IGST on import of Remdesivir injection/ API and Beta Cyclodextrin, Inflammatory diagnostic kits, Medical grade Oxygen, oxygen concentrators, cryogenic transport tanks, etc for free distribution of Covid relief till October 31, 2021.
⚫Sweden plans to donate 1 million doses of AstraZeneca vaccine to India.
⚫Pfizer is discussing with the Indian govt an expedited approval pathway to make Pfizer-BioNTech vaccine available for use in the country.
⚫India on Monday reported 355,828 fresh Covid-19 cases.
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👉 Clarification on spending of CSR funds for setting up temporary COVID Care facilities and makeshift hospitals-reg.Pdf(371 KB)
http://www.mca.gov.in/Ministry/pdf/GeneralCircularNo5_22042021.pdf
👉 Relaxation of time for filing certain forms under the Companies Act, 2013.Pdf(1.65 MB)
http://www.mca.gov.in/Ministry/pdf/GeneralCircularNo6_03052021.pdf
👉 Relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013.Pdf(4.75 MB)
http://www.mca.gov.in/Ministry/pdf/GeneralCircularNo7_03052021.pdf
👉 Gap between two board meetings under section 173 of the Companies Act, 2013 (CA-13) – Clarification – reg.Pdf(1.47 MB)
http://www.mca.gov.in/Ministry/pdf/GeneralCircularNo8_03052021.pdf
👉 Important Announcement - Financial Assistance for Treatment of CORONA Disease from CABF - (29-04-2021)
https://www.icai.org/post/financial-assistance-for-treatment-of-corona-disease-from-cabf
👉 Appeal to Members for contributing generously to Chartered Accountants' Benevolent Fund - (29-04-2021)
https://www.icai.org/post/appeal-to-members-for-contributing-generously-to-cabf
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