{"id":5742,"date":"2019-04-22T11:45:45","date_gmt":"2019-04-22T06:15:45","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=5742"},"modified":"2021-08-17T17:48:10","modified_gmt":"2021-08-17T12:18:10","slug":"corporate-and-professional-updates-on-16th-april-2019","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-16th-april-2019\/","title":{"rendered":"Corporate and Professional Updates on 16th April 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-69e2daab7429a\" 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-69e2daab7429a\"  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-16th-april-2019\/#Indirect_Tax_Updates\" title=\"Indirect Tax Updates:\">Indirect Tax Updates:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-16th-april-2019\/#FAQs_on_GST\" title=\"FAQ\u2019s on GST:\">FAQ\u2019s on GST:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-16th-april-2019\/#Other_Updates\" title=\"Other Updates:\">Other Updates:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-16th-april-2019\/#Key_Due_Dates\" title=\"Key Due Dates:\">Key Due Dates:<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Indirect_Tax_Updates\"><\/span><strong><em><span style=\"text-decoration: underline;\">Indirect Tax Updates:<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"\" src=\"https:\/\/www.apnacourse.com\/apnadata\/module_images\/97\/gst.png\" alt=\"Image result for hd pics on indirect Tax\" width=\"643\" height=\"331\" \/><\/p>\n<ul>\n<li style=\"text-align: justify;\">India\u2019s recent economic history offers enough evidence to show that tax revenues can be raised even without a rampaging tax bureaucracy or ad-hoc measures such as demonetization.\u00a0India\u2019s tax-to-GDP ratio improved significantly in the period between 2003-04 and 2007-08 simply because of higher growth and tax reforms.<\/li>\n<li style=\"text-align: justify;\">The obsession with raising taxes has often been justified by the fact that India collects less tax as a share of its national income compared to several other large economies. However, compared to other economies at a similar stage of development, India\u2019s tax-GDP ratio appears respectable.<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"FAQs_on_GST\"><\/span><strong><em><span style=\"text-decoration: underline;\">FAQ\u2019s on <a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">GST<\/a>:<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><strong><em><span style=\"text-decoration: underline;\">QUES. <\/span><\/em><\/strong>Whether for the services received from a related person \/ distinct person outside India, the recipient of services would be eligible for full input tax credit?<\/p>\n<p style=\"text-align: justify;\"><strong><em><span style=\"text-decoration: underline;\">ANS.<\/span><\/em><\/strong> In terms of the second proviso to section 17(4) of the CGST Act, 2017, the restriction of reversal of 50% credit would not apply to the tax paid on supplies made by one registered person to another registered person having the same PAN. The non-applicability of 50% reversal is only to the extent of inter-branch services between registered branches having the same PAN in India. Thus, tax paid on services received from a related person \/ distinct person located outside India would be liable to 50% reversal.<\/p>\n<p style=\"text-align: justify;\"><strong><em><span style=\"text-decoration: underline;\">QUES.<\/span><\/em><\/strong> Whether the provision of section 18(6) for reversal of input tax credit availed on capital goods be applicable to banks only to the extent of the input tax credit availed?<\/p>\n<p style=\"text-align: justify;\"><strong><em><span style=\"text-decoration: underline;\">ANS.<\/span><\/em><\/strong> Yes. The provisions of section 18(6) of the CGST Act, 2017 for reversal of input tax credit availed on capital goods would be applicable to banks only to the extent of the input tax credit availed by it. In case the Bank opts to avail input tax credit to the extent of 50% in terms of the second proviso to Section 17(4) of the CGST Act, 2017, reversal of credit would be in proportion to the actual credit availed by the Bank i.e. only with reference to 50% of the input tax credit availed by it on capital goods.<\/p>\n<h2 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><\/h2>\n<ul style=\"text-align: justify;\">\n<li>Exports grow 11% in March; trade deficit narrows.<\/li>\n<li>Jet lenders still undecided on funding; board to meet Tue.<\/li>\n<li>Infosys&#8217; digital strategy to curb attrition.<\/li>\n<li>Samsung says it sold 2 milion A series smartphones in 40 days, clocks USD 500 million in sales.<\/li>\n<li>India&#8217;s trade deficit narrows to $10.89 bn in March, exports grow 11%.<\/li>\n<li>Trump asks Boeing to rebrand 737 Max in &#8216;what the hell do I know&#8217; tweet.<\/li>\n<li>Wipro Q4FY19 preview: Analysts see dip in margins; modest rise in PAT.<\/li>\n<li>Net interest margin of NBFCs likely to come under pressure.<\/li>\n<li>India\u2019s cotton output to decline to 343 lakh bales in FY19.<\/li>\n<li>Export of oilmeals rose 31% to Rs 6,222 cr in FY19.<\/li>\n<li>Maruti Suzuki retains top slot even in tough FY19.<\/li>\n<li>Work hard stocks rise; firm says USFDA inspection yields no observations.<\/li>\n<li>Firms with turnover over\u00a0\u20b92 cr. can now start filing GST audit reports for FY18.<\/li>\n<li>IBC cases admitted over RBI circular to continue, says IBBI chief.<\/li>\n<li>Lakshmi Vilas Bank to allot near 5% shares to India bulls Housing Finance.<\/li>\n<li>Gold falls by Rs 200 on muted demand, extends losses for 4th day.<\/li>\n<li>Metropolis Healthcare makes a strong stock market debut; lists up 9% from IPO price.<\/li>\n<li>Spice Jet shares surge more than 8% on launch of new international flights.<\/li>\n<li>NBFC-MFIs raise Rs 26,000 cr through securitisation in FY19.<\/li>\n<li>Rupee drops 25 paise to close at 69.42 vs USD.<\/li>\n<li>TCS shares jump nearly 5 pc after Q4 results; m-cap rises by Rs 36,136 cr.<\/li>\n<li>Sensex ends 139 pts higher; TCS rallies nearly 5 pc.<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Key_Due_Dates\"><\/span><strong><span style=\"text-decoration: underline;\">Key Due Dates:<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul style=\"text-align: justify;\">\n<li>18-04-2019\u00a0&#8211; Quarterly return for taxpayers opting for\u00a0Composition Scheme(GSTR-4)<\/li>\n<li>20-04-2019\u00a0&#8211;\u00a0GSTR-3B\u00a0for the m\/o March 2019.<\/li>\n<li>30-04-2019\u00a0&#8211; GSTR-1\u00a0for the quarter ending March 2019 for taxpayers with Annual Aggregate turnover\u00a0upto than\u00a01.50 Crore.<\/li>\n<li>14-04-2019\u00a0&#8211; Issue of TDS Certificate for tax deducted under section 194-IA\/194-IB in m\/o Feb&#8217;19.<\/li>\n<li>30-04-2019\u00a0&#8211; Deposit of <a href=\"https:\/\/carajput.com\/tds.php\">TDS\/TCS<\/a> for m\/o March 2019.<\/li>\n<li>30-04-2019\u00a0&#8211; Furnishing challan-cum-statement in respect of tax deducted u\/s 194-IA\/194IB in month of March&#8217;19<\/li>\n<li>30-04-2019\u00a0&#8211; Due date for uploading declarations received from recipients in Form. 15G\/15H during the quarter ending March, 2019.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Indirect Tax Updates: India\u2019s recent economic history offers enough evidence to show that tax revenues can be raised even without a rampaging tax bureaucracy or ad-hoc measures such as demonetization.\u00a0India\u2019s tax-to-GDP ratio improved significantly in the period between 2003-04 and 2007-08 simply because of higher growth and tax reforms. The obsession with raising taxes has &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[150,172,9,4],"tags":[7536,7537,6240,6774,6114],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/5742"}],"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=5742"}],"version-history":[{"count":3,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/5742\/revisions"}],"predecessor-version":[{"id":16103,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/5742\/revisions\/16103"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=5742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=5742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=5742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}