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Corporate and Professional Updates on 25th May 2019

Indirect Tax Updates:

GST was implemented with effect from 1/7/17 i.e. after the completion of 3 months from commencement of F.Y. 17-18, Due to above the F.Y. 17-18 was a mix of accounting policies/procedures/compliances for two different Tax Mechanism periods: 1-4-17 to 30-3-17 (pre GST period) 1-7-17 to 31-3-18.

RBI Updates:

The Reserve Bank of India on Friday eased norms for foreign portfolio investors (FPI) buying debt assets under a special window amid expectations that overseas funds would increase allocations to Mumbai after the ruling combine’s return to power with a bigger majority.
RBI removed a mandatory investment cap, exempting investors from bringing in at least a fourth of the limits purchased through the Voluntary Retention Route (VRR) within one month. “The requirement to invest at least 25% of the Committed Portfolio Size within one month of allotment has been removed,” RBI said Friday, a day after the ruling party won a stronger mandate to run the federal government for the next five years.

Other Updates:

MCA sees Rs 2.8 lakh cr recovery from IBC-led RP
IOC to examine US sanction’s impact on CPCL plans
India may witness slowdown as oil imports decline
DoT to soon settle merger/transfer of licences in M&As
BoB looks to rationalise 800-900 branches
Pre-monsoon rainfall deficit drops to 22 per cent
Reliance Capital protests ratings downgrade
India reports trade deficit with 11 RCEP members in FY 2018-19
OPEC members meet to assess oil market after US sanctions on Iran
NMDC plans to acquire 100 per cent stake in Australia’s Legacy Iron-Ore Ltd
Japan’s Orix to acquire wind assets of IL&FS
GST Council may consider national bench of AAAR next month
AstraZeneca moves US court against Aurobindo

Key Due Dates:

Deposit of TDS /TCS for the month of April for purchase of property is 30^th May 2019.
TDS return for March Quarter By all Deductors is 31^st May 2019.

Tags: a day after the ruling party won a stronger mandate to run the federal government for the next five years.

5 years ago

Rajput Jain & Associates

Rajput Jain & Associates is a Chartered Accountants firm, with it's headquarter situated at New Delhi (the capital of India). The firm has been set up by a group of young, enthusiastic, highly skilled and motivated professionals who have taken experience from top consulting firms and are extensively experienced in their chosen fields has providing a wide array of Accounting, Auditing, Taxation, Assurance and Business advisory services to various clients and their stakeholders. Rajput jain & Associates, a professional firm, offers its clients a full range of services, To serve better and to bring bucket of services under one roof, the firm has merged with it various Chartered Accountancy firms pioneer in diversified fields. We have associates all over India in big cities. All our offices are well equipped with latest technological support with updated reference materials. We have a large team of professionals other than our Core Team members to meet the requirements of our prospective clients including the existing ones. However, considering our commitment towards high quality services to our clients, our team keeps on growing with more and more associates having strong professional background with good exposure in the related areas of responsibility.