Direct Tax Updates:
- CBDT notified creation of a five-member special cell to address grievances of startups with relation to angel tax and other tax-related issues. An order issued by the CBDT said that the ‘startup cell’ will be headed by the member (Income Tax and Computerisation) of the board.
Indirect Tax Updates:
- GST Notification No. 38/2019-Central Tax dated 31.08.2019 issued waiving requirement to furnish declaration in FORM ITC-04 for the period July, 2017-March 2018 and FY 2018-19.
- GST Notification No. 40/2019- Central Tax dated 31.08.2019 issued to extend the last date for furnishing GSTR-7 for the month of July, 2019 to 20.09.2019 in J&K and specified 58 flood affected districts of 7 States.
- GST Notification No. 41/2019- Central Tax dated 31.08.2019 issued to waive the late fees for the month of July, 2019 for FORM GSTR-1 and GSTR-6 to be filed by taxpayers in J&K and 58 flood affected districts across 7 States provided the said returns are furnished by 20.09.2019.
- FinMin starts groundwork for fresh bank consolidation
- India’s economy big worry for Modi: FICCI
- Airtel submits Rs 644 crore bank guarantee for merger
- IndiGo Q4 profit jumps 5-fold to Rs 590 crore
- Provide names of big loan defaulters: CIC to RBI
- Radio City to acquire 40 Big FM stations for Rs 1,050 cr
- Arcelor, Resurgent said to mull joint bid for Essar plant
- China’s planned curbs on aluminium scrap imports nettles Indian players
- India Inc Q4 revenue growth slumps to six-quarter low of 10.7%
- Indian Hotels to go on global expansion spree, may opt to buy out firms
- Avendus Future acquires stake in Bikaji Foods for Rs 40 crore
- Lupin’s Goa plant may face regulatory action, says USFDA after inspection
- BHEL Q4 results: Net profit jumps 50 per cent at ₹682.7 crore
- Colgate-Palmolive Q4 net up 4.7% to Rs 197.50 cr
- Inventory write-off drags Natco Pharma’s net down 60%
- Pension scheme provisioning pushes Oil India into red
- PIL against the operations of the Paytm Post Paid Wallet filed in Delhi HC
- Zee Entertainment Enterprises Q4 net profit up 26.8% to ₹292.53 crore
- Kerala to levy 1% flood cess from 1 June
- Govt proposes WTO-compliant schemes to boost Make in India
- Zee stake sale to be completed by July, says Punit Goenka
- GDP growth in Q4 likely to moderate to 6.1-5.9%, may lead RBI to cut rates: SBI report
- Bid for BPSL: Lenders move NCLAT for quick approval to JSW Steel’s plan
- Ingen resolution plan for Orchid Pharma rejected again
- India Inc revenue growth in Q4 hits six-quarter low of 10.7 pc
- Confident of timely payment of salary for May: BSNL chief
- Amid recovery in greenback Rupee settles with 2 paise gain against USD
- Emami’s net sales up 5 per cent at Rs 635 crore
- Care Ratings expects power generation to grow
- Sun Pharma Q4 profit halves to Rs 636 crore
- Lookout notice issued against DHFL promoters
- Airtel Africa may raise $1 billion from stake sale
- World Bank to invest $35 mn in Manapurram Finance
- Tech Mahindra & MKI collaborate for Japanese market
- Welspun in talks to own slum rehabilitation projects, loaned by Dewan Housing Finance Ltd
- RBI extends timing for fund transfer through RTGS till 6 pm from Jun 1: RBI
- GMR Warora Energy on verge of defaulting on over Rs 3,000-crore loans
- Adani offers lenders Rs 500 cr upfront in fresh bid for Jaypee Infratech
- Tata Steel can withstand 20% drop in EBITDA over next 2 years: S&P Global
- Steel may grow by 6-8 pc in FY20 amid concerns over dumping from China
- FDI inflows record first decline in six years this fiscal
- Pfizer Q4 net up 4.74 per cent to Rs 109.47 crore
- IT Dept trains officers to detect tax evasion in shell Cos
- Hind Copper consolidated Q4 net up 16% to Rs 40 cr
- Mphasis Q4 net profit up 11.9 per cent to Rs 266 crpre
- NMDC net profit grows 31% to₹1,453 cr in Q4
- Gail to list Gail Gas, plans ₹54,000 crore capex in 2-3 years
- Tata Consultancy Services listed among top 50 US companies for diversity
- Bank ETF launch likely By Dec, to help funds mop-up, cut govt stake in banks
- IRB Infrastructure Q4 net profit dips 13% to₹208 crore
- SBI looks to raise up to ₹18,000 cr via QIP
- NCLT asks Sebi to conclude probe into ITC, LIC allegations against Leela
- Lakshmi Vilas Bank Q4 net loss narrows to Rs 264 crore
- India can attract 1.5-2 per cent FDI to GDP ratio: Nomura
- DLF transfers Rs 330 crore land to JV with GIC for settlement of dues
- Rupee slips 18 paise against dollar on high dollar demand
- Sensex, Nifty clock fresh closing highs on fund inflows
- NCLAT gives 4 weeks to Bakshi to settle dispute with HUDCO
- PNB narrows Q4 loss to Rs 4,750 crore.
Key Due Dates:
- The Due Date of TDS for the Month of August is 7th September 2019.
- The Due Date of GSTR-1 for the Monthly Fillers for the Month Of August is 10th September 2019.
- The Due Date of GSTR-3B for the Month of August 2019 is 20th September 2019.
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