{"id":5485,"date":"2019-01-15T14:47:56","date_gmt":"2019-01-15T09:17:56","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=5485"},"modified":"2021-12-08T15:08:14","modified_gmt":"2021-12-08T09:38:14","slug":"corporate-and-professional-updates-on-15th-january-2019","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-15th-january-2019\/","title":{"rendered":"Corporate and Professional Updates on 15th Jan. 2019"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69e1ac07e0fd4\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69e1ac07e0fd4\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-15th-january-2019\/#Corporate_and_Professional_Updates_on_15th_Jan_2019\" title=\"Corporate and Professional Updates on 15th Jan. 2019\">Corporate and Professional Updates on 15th Jan. 2019<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-15th-january-2019\/#Indirect_Updates\" title=\"Indirect Updates:\">Indirect Updates:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-15th-january-2019\/#RBI_Updates\" title=\"RBI Updates:\">RBI Updates:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-15th-january-2019\/#Other_Updates\" title=\"Other Updates:\">Other Updates:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-15th-january-2019\/#Faqs_On_GST\" title=\"Faqs On GST:\">Faqs On GST:<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-15th-january-2019\/#KEY_Due_Dates\" title=\"KEY Due Dates:\">KEY Due Dates:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-15th-january-2019\/#More_updates_CORPORATE_TAX_UPDATE_FOR_THE_MONTH_OF_OCTOBER_THIRD_WEEK\" title=\"More updates: CORPORATE TAX UPDATE FOR THE MONTH OF OCTOBER THIRD WEEK\">More updates: CORPORATE TAX UPDATE FOR THE MONTH OF OCTOBER THIRD WEEK<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-15th-january-2019\/#More_updates_CORPORATE_TAX_UPDATE_FOR_THE_MONTH_OF_OCTOBER_SECOND_WEEK\" title=\"More updates: CORPORATE TAX UPDATE FOR THE MONTH OF OCTOBER SECOND WEEK\">More updates: CORPORATE TAX UPDATE FOR THE MONTH OF OCTOBER SECOND WEEK<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"\" src=\"https:\/\/www.udyogsoftware.com\/wp-content\/uploads\/2016\/08\/Taxes-consolidating-to-GST-2.png\" alt=\"Related image\" width=\"810\" height=\"794\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Corporate_and_Professional_Updates_on_15th_Jan_2019\"><\/span>Corporate and Professional Updates on 15th Jan. 2019<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Indirect_Updates\"><\/span><strong><em><span style=\"text-decoration: underline;\">Indirect Updates<\/span><\/em><\/strong><strong><em><span style=\"text-decoration: underline;\">:<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li style=\"text-align: justify;\">The<a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\"> GST<\/a> council Has Announced allowing the composition schemes to file one annual return with a simple explanation, while earlier they have to file the return quarterly is a relief for many small and medium-sized enterprises. The payment of taxes still needs to be done on a quarterly basis. As per the analysts, it will take some pressure off from the SMEs working Capital cycles.<\/li>\n<li style=\"text-align: justify;\">Compliance and relaxation in GST applicability by the GST Council in terms of the return filing process could provide some relief for SMEs. <a href=\"https:\/\/carajput.com\/rbi-consulting.php\">Reserve Bank of India\u2019s<\/a> one-time restructuring scheme for MSME loans could provide some breather to SMEs in terms of easing a part of their working capital requirements, having continuity in maintaining credit lines, and thereby preventing defaults to banks.<\/li>\n<li style=\"text-align: justify;\">Increased tax compliance led to a spike in the working capital requirements of SMEs post-<a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">GST<\/a> implementation in 2017. Technology glitches while filing monthly returns led to delayed tax refunds. These factors weighed on the credit profiles of SMEs.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"RBI_Updates\"><\/span><a href=\"https:\/\/www.caindelhiindia.com\/blog\/banking-complaints-with-rbis-ombudsman\/\"><strong><em><span style=\"text-decoration: underline;\">RBI Updates<\/span><\/em><\/strong><strong><em><span style=\"text-decoration: underline;\">:<\/span><\/em><\/strong><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><img decoding=\"async\" src=\"https:\/\/www.livemint.com\/rf\/Image-621x414\/LiveMint\/Period2\/2017\/03\/31\/Photos\/Processed\/rbi-ktl--621x414@LiveMint.jpg\" alt=\"Image result for hd pics on RBI\" \/><\/p>\n<ul style=\"text-align: justify;\">\n<li>The Inflation Rate of Retail declined to an 18-month low of 2.19 percent. The wholesale inflation rate also came down to 3.8 percent, the lowest in eight months. Falling fuel and food prices caused inflation to fall, according to the data. Inflation at an 18-month low, gives RBI room to ease monetary policy The core retail inflation rate touched a nine-month low of 5.6 percent<\/li>\n<li>As per the Advance Estimates, gross domestic product (GDP) growth for 2018-19 or FY19 was pegged at 7.2 percent. This is lower than the RBI\u2019s projection of 7.4 percent and the finance ministry\u2019s estimate of 7.5 percent growth.<\/li>\n<li>In the monetary policy statement, the RBI had forecast the retail inflation rate to be between 2.7 percent and 3.2 percent in the second half of FY19. The consumer food price index contracted 2.51 percent in December; in November, it had contracted 2.61 percent. Food prices were dragged down by a decline in prices of pulses and vegetables, sugar, and eggs. The pulses and products index has been contracting since December 2016, while vegetables have been contracting since July 2018.<\/li>\n<li>The former contracted 7.13 percent in December; the latter was 16.14 percent. At the aggregate level, the consumer food and beverages index has now contracted for three straight months. Softer global crude oil prices also dragged down the fuel and light inflation rate to 4.5 percent in December from 7.39 percent in November. We are expecting further moderation in inflation in the coming months.<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Other_Updates\"><\/span><strong><em><span style=\"text-decoration: underline;\">Other Updates:<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li>December retail inflation at an 18-month low of 2.19%.<\/li>\n<li>FinMin wants PSU banks to reduce govt equity to 52%.<\/li>\n<li>REITs may generate 14% return annually to investors.<\/li>\n<li>may fall short of the Rs 2.45-trn non-tax revenue target despite RBI funds.<\/li>\n<li>Listed realty developers saddled with unsold properties worth Rs 1 trillion.<\/li>\n<li>Crude steel output falls 1.4% to 8.936 mt in Dec.<\/li>\n<li>Storage norms in e-commerce policy: Govt asks e-retailers to store payments data within India.<\/li>\n<li>Only 12-13% of workforce under pension covers: Hemant G Contractor, As per PFRDA chairman.<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Faqs_On_GST\"><\/span><strong><em><span style=\"text-decoration: underline;\">Faqs On GST:<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><strong><em><span style=\"text-decoration: underline;\">QUES.<\/span><\/em><\/strong>\u00a0 When service tax was paid on or before 30th June, 2017 for the services to be provided, but subsequently not provided, whether refund claim can be made under Section 142(5) of the <a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">CGST Act<\/a>?<\/p>\n<p style=\"text-align: justify;\"><strong><em><span style=\"text-decoration: underline;\">ANS.<\/span><\/em><\/strong> Section 142(5) of the CGST Act, 2017 specifically provides for refund of tax paid under the Finance Act, 1994 in respect of services not provided. The same shall be disposed off in accordance with the provisions of the Chapter V of the Finance Act, 1994.<\/p>\n<p style=\"text-align: justify;\"><strong><em><span style=\"text-decoration: underline;\">QUES.<\/span><\/em><\/strong> Can the input tax credit of Krishi Kalyan Cess be carried forward?<\/p>\n<p style=\"text-align: justify;\"><strong><em><span style=\"text-decoration: underline;\">ANS.<\/span><\/em><\/strong> No. It is not permitted in terms of section 140(1) of the CGST Act, 2017 read with Rule 117(1) of the CGST Rules, 2017.<\/p>\n<h4 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"KEY_Due_Dates\"><\/span><strong><em><span style=\"text-decoration: underline;\">KEY Due Dates:<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li style=\"text-align: justify;\">The due date of GSTR 3B for the month of December 2018 is 20th January 2019.<\/li>\n<li style=\"text-align: justify;\">Payment of ESI of December is 15th January 2019.<\/li>\n<li style=\"text-align: justify;\"><a href=\"https:\/\/carajput.com\/services\/tds-return-filing.php\">TDS Return<\/a> By all the Deductor for December Quater is 30th January 2019.<\/li>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"More_updates_CORPORATE_TAX_UPDATE_FOR_THE_MONTH_OF_OCTOBER_THIRD_WEEK\"><\/span><span style=\"color: #0000ff;\"><strong><a style=\"color: #0000ff;\" href=\"https:\/\/carajput.com\/blog\/professional-update-for-the-month-of-october\/\"><em>More updates: CORPORATE TAX UPDATE FOR THE MONTH OF OCTOBER THIRD WEEK<\/em><\/a><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"More_updates_CORPORATE_TAX_UPDATE_FOR_THE_MONTH_OF_OCTOBER_SECOND_WEEK\"><\/span><em><span style=\"color: #0000ff;\"><strong><a style=\"color: #0000ff;\" href=\"https:\/\/carajput.com\/blog\/corporate-tax-update-for-the-month-of-october-forth-week\/\">More updates: CORPORATE TAX UPDATE FOR THE MONTH OF OCTOBER SECOND WEEK<\/a><\/strong><\/span><\/em><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; Corporate and Professional Updates on 15th Jan. 2019 Indirect Updates: The GST council Has Announced allowing the composition schemes to file one annual return with a simple explanation, while earlier they have to file the return quarterly is a relief for many small and medium-sized enterprises. The payment of taxes still needs to be &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[150,172,1,15],"tags":[6215,6217,6213,6212,6206,6204,6011,6210,6216,6214,6208,558,6211,6205,6203,541,6207,6202,6209],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/5485"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=5485"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/5485\/revisions"}],"predecessor-version":[{"id":19596,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/5485\/revisions\/19596"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=5485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=5485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=5485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}