👉🏻GST collection for June falls to Rs 92,849 Cr, lowest in 10 months
(The last time this happened was in Sept 2020, when GST collections were Rs 95,480 Cr. The June 2021 collection is the lowest in ten months, since August 2020)
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https://bit.ly/3hltkjp
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⚫PM modi sacked many senior colleagues, elevated some, and infused the govt with new young faces. A new ministry of cooperation was also created. In all, 43 ministers were sworn in, taking the strength of the council of ministers to 77.
⚫Govt may make Bureau of Indian Standards must for public procurement. The development comes in the backdrop of the govt's focus on increasing manufacturing and production of goods in the country.
⚫IT, pharma, textile, auto ancillary sectors stand to gain from a weak rupee. The textiles sector saw a recovery in Q4FY21 and a weaker rupee could make it more competitive, and boost exports.
⚫Leasing of warehousing space fell 23% to 31.7 million sq ft across eight major cities on an yoy basis in the last fy due to the coronavirus pandemic. ⚫Govt moves Irdai to allow listing of corporation ahead of LIC's IPO.
⚫LPG is now costlier than electric cooking in Delhi. A 14.2-kg LPG cylinder costs Rs 843.5 in the national Capital.
⚫Britain has reported another 32,548 coronavirus cases in the latest 24-hour period, the highest daily increase since January.
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👉🏻RBI imposes penalty on 14 banks for non-compliance of rules
(This is probably the highest number of banks receiving RBI monetary penalties on a single day for various rule violations)
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https://bit.ly/3xuO3XG
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Central Board of Direct Taxes has extended the time for processing refunds in non-scrutiny cases for assessment year 2017-18 up to September 30.
CBDT notifies Rule 8AC for STCG, WDV computation u/s 50 involving goodwill depreciation.
GST collection fell below the Rs 1-trillion mark in June -- the first time in nine months -- as the second wave of Covid-19 disrupted economic activity in the country, the official data showed on Tuesday. However, experts pointed out that the collection was better than expected and would provide cushion to the government to ramp up spending.
SEBI put in place a standard operating procedure for subsidiary companies planning to get delisted through a 'Scheme of Arrangement' wherein the listed holding companies and the listed subsidiaries are in the same line of business.
RBI is compiling the information’s as to be collected through filing of the FLA return for the purpose of knowing India’s Balance of Payments (BOP) position and International Investment Position (IIP) in India and Outside India ‘both’ as on March 31 every year. Read More : http://femainindia.com/Image/FLA30.pdf
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