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Corporate and Professional Updates on 9th May 2019

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Corporate and Professional Updates on 9th May 2019

Indirect Tax Updates:

CBIC has issued 41 Clarifications on FAQs/ Issues relating to new GST rate structure notified for Real Estate sector applicable from 1 April 2019.
Goods and Services Tax regime in India is not likely to reduce the deficits of state governments significantly, amid large and growing expenditure mandates for the social sector as well as capital spending.

RBI Updates:

RBI is likely to cut interest rates one more time in June before rising inflation pressures and elevated fiscal deficits leave little room for further accommodation in rest of the year. RBI had cut interest rate by 25 basis points each in February and April to boost economic growth.
The Reserve Bank of India is working on its disclosure policy under the Right to Information Act and will release an updated version in a few weeks, possibly after the election results. The central bank had, on April 30, updated its disclosure policy on its website to reflect the omission of certain clauses.

Other Updates:

Oil imports from Iran down 57% y/y in April: Trade
US commerce secy warns India against retaliatory tariffs
Airtel to merge VSAT ops with Hughes India unit
NCLT begins bankruptcy process for RCom
Essar shareholder seeks ban on Mittal’s bid
BSE Q4 net profit drops 16.46 pc to Rs 51.86 crore
RBI’s holding company model for banks will help contain NPAs, says Charan Singh
IMF chief Christine Lagarde says US-China tensions ‘threat’ to world
Rupee slips to 69.43 against US dollar
Multifold increase in investments in B2B startups
NBCC offers just Rs 20 crore to operational creditors.
HDFC Bank board may go for splitting stock into two later this month
Wockhardt Q4 net loss narrows to Rs 14.47 cr
Industry bodies list key issues for GST Council meet next month
Gujarat Gas net jumps 77% in March quarter
PFS reports Q4 net profits at Rs 36.76 crore
Liquidation process for ABG Shipyard commences
Medlife acquires Bengaluru-based Myra Medicines
NRIs can remit up to $1 mn from sale of property in India
Investor wealth erodes by ₹1.24 lakh cr as markets plunge
Finance Commission to meet RBI governor, bank officials during Mumbai visit
Asset quality improves but trend in slippages, provisions key of ICICI Bank.
UK entrepreneur says SBI allows him to bid for Jet Airways
Mastercard commits $1 bn investment in India in next 5 yrs; to develop India as global tech node.

Key Due Dates:

Payment of TDS Deducted in April is 7th May 2019.
GSTR-1 Due Date for the month of April 2019 is 11th May 2019.
GSTR-3B for the month of April 2019 is 20th May 2019.
More updates:INCOME TAX UPDATE 18 NOVEMBER 2015

More updates:INCOME TAX UPDATE 14 NOVEMBER, 2015

Tags: amid large and growing expenditure mandates for the social sector as well as capital spendingGoods and Services Tax regime in India is not likely to reduce the deficits of state governments significantly

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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.