{"id":5767,"date":"2019-05-02T21:22:21","date_gmt":"2019-05-02T15:52:21","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=5767"},"modified":"2021-12-08T13:07:31","modified_gmt":"2021-12-08T07:37:31","slug":"corporate-and-professional-updates-on-2nd-may-2019","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-2nd-may-2019\/","title":{"rendered":"Corporate and Professional Updates on 2nd May 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-69e1d3b1493f3\" 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-69e1d3b1493f3\"  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-2nd-may-2019\/#Corporate_and_Professional_Updates_on_2nd_May_2019\" title=\"Corporate and Professional Updates on 2nd May 2019\">Corporate and Professional Updates on 2nd May 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-2nd-may-2019\/#Direct_Tax_Updates\" title=\"Direct Tax Updates:\">Direct Tax 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-2nd-may-2019\/#Indirect_Tax_updates\" title=\"Indirect Tax updates:\">Indirect Tax 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-2nd-may-2019\/#Other_Updates\" title=\"Other Updates:\">Other Updates:<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-2nd-may-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-6\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-2nd-may-2019\/#More_updates_INCOME_TAX_UPDATE_18_NOVEMBER_2015\" title=\"More updates: INCOME TAX UPDATE 18 NOVEMBER 2015\">More updates: INCOME TAX UPDATE 18 NOVEMBER 2015<\/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-2nd-may-2019\/#More_updates_INCOME_TAX_UPDATE_14_NOVEMBER_2015\" title=\"More updates:INCOME TAX UPDATE 14 NOVEMBER, 2015\">More updates:INCOME TAX UPDATE 14 NOVEMBER, 2015<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.dailyexcelsior.com\/wp-content\/uploads\/2019\/02\/income-tax.jpg\" alt=\"Related image\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Corporate_and_Professional_Updates_on_2nd_May_2019\"><\/span>Corporate and Professional Updates on 2nd May 2019<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Direct_Tax_Updates\"><\/span><a href=\"https:\/\/www.caindelhiindia.com\/blog\/popular-faq-on-direct-indirect-tax-corporate-regulatory-matters\/\"><strong><em><span style=\"text-decoration: underline;\">Direct Tax Updates:<\/span><\/em><\/strong><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li style=\"text-align: justify;\">The <a href=\"https:\/\/carajput.com\/income-tax-services.php\">Income Tax<\/a> Department will now share information such as reported turnover and gross income declared with the Goods and Services Tax Network to check tax evasion.\u00a0The I-T Department and GSTN will enter an agreement on the modalities of information sharing. The Central Board of Direct Taxes has said the agreement will include provisions for confidentiality, a mechanism for safe preservation of data and timelines for furnishing information.<\/li>\n<li style=\"text-align: justify;\">CBDT has left the onus of data-sharing on the principal director general of income tax or director general of income tax. \u201cSpontaneous exchange of data the modalities of which shall be decided by the concerned specified authorities,\u201d an order issued by the CBDT said.\u00a0Details captured in returns, status of filing income tax returns and turnover ratio will form part of the information package to be shared with GSTN. The data can be matched with the business returns of the assessee.<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><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><\/h3>\n<p style=\"text-align: justify;\"><img decoding=\"async\" src=\"https:\/\/www.yardiprabhu.com\/images\/indirect_tax.jpg\" alt=\"Image result for hd pics on Indirect tax\" \/><\/p>\n<ul style=\"text-align: justify;\">\n<li><a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">Goods and services tax<\/a> collection touched a record high in April, exceeding Rs 1 trillion for the third time in four months. The mop-up was 10 per\u00a0cent higher over the previous year.\u00a0Gross collection for the month was Rs 1.13 trillion, said the finance ministry. Despite the recent rate rationalisation in December, a rise in collection\u00a0was reported.\u00a0Of the total collected, the CGST contributed Rs 21,163 crore, the SGST Rs 28,801 crore, the IGST Rs 54,733 crore and cess Rs 9,168 crore.<\/li>\n<li>After settlement of the IGST and the balance IGST in a 50:50 ratio between the Centre and states on a provisional basis, the CGST stood at Rs 47,533 crore\u00a0and SGST at Rs 50,776 crore. The CGST target in the Union Budget for 2019-20 is Rs 6.1 trillion.\u00a0\u201cThe April collection indicates the tax base is increasing gradually, with GST getting stabilised with measures such as e-way bills and effective data\u00a0 Perhaps one reason for this increase was also a push from businesses to their vendors for reporting sales of 2017-18, for which the last date of\u00a0claiming credit coincides with GST filings for the month of March,\u201d said Pratik Jain, partner at consultancy PwC India.\u00a0He felt one could now expect the monthly collection to regularly exceed Rs 1 trillion.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\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>NSE barred from accessing sec market for 6 mths<\/li>\n<li>SFIO questions audit partner of KPMG India unit<\/li>\n<li>Ambani wants to make the mother of all apps<\/li>\n<li>L&amp;T buys VG Siddhartha, Coffee Day stake in Mindtree for Rs 3,210 crore<\/li>\n<li>Iraq continues to be India&#8217;s top oil supplier<\/li>\n<li>Adani&#8217;s coal mine in Queensland has new hurdle<\/li>\n<li>NBCC gets approvals for revised Jaypee Infra bid<\/li>\n<li>GST collection scales all-time high of Rs 1.13 trillion in April<\/li>\n<li>Tough life ahead for NBFCs as RBI set to tighten liquidity mismatch limits<\/li>\n<li>TRAI pulls up DTH, cable operators for not compliying with new tariff<\/li>\n<li>DCM Shriram reports nearly six-fold jump in Q4 net profit at Rs 293 cr<\/li>\n<li>Patanjali gets time till May 7 for filing resolution plan<\/li>\n<li>Ambuja Cements&#8217; volumes, realisation disappoint<\/li>\n<li>Netherlands got $12.8-b Indian FDI in 2017, 2nd biggest after Singapore<\/li>\n<li>Review safeguard duties on solar cell imports, Japan tells India<\/li>\n<li>Honda Cars India sales up 23 per cent in April 2019<\/li>\n<li>Ness Wadia\u2019s board positions in group firms to remain intact<\/li>\n<li>UDS buys majority stake in Matrix to expand its business portfolio<\/li>\n<li>Royal Enfield total sales decline 17% in April<\/li>\n<li>Suzuki Motorcycle India sales up 12.57% in April<\/li>\n<li>Over \u20b912,000 crore subsidy disbursed to home-buyers: Housing Ministry<\/li>\n<li>OYO to buy Amsterdam-based Leisure Group from Axel Springer<\/li>\n<li>Tata Steel workers lose faith in Thyssenkrupp deal: works council<\/li>\n<li>KFC and Pizza Hut report sales growth in India in Q1<\/li>\n<li>Britannia Industries Q4 net up 11.28% at\u20b9294.27 crore<\/li>\n<li>Jet Airways ticket refund: Delhi High Court notice to airline on customers\u2019 plea<\/li>\n<li>Government fixes 2.1 MT quota for sugar sale in May<\/li>\n<li>CEA issues draft guidelines on cross-border power trade<\/li>\n<li>Tax filing falls 1% in FY19, indicating overall slowdown: Report<\/li>\n<li>Oyo to acquire Amsterdam firm @Leisure for \u20ac369 million<\/li>\n<li>India Ratings lowers country&#8217;s GDP growth projection for FY20 to 7.3 pc<\/li>\n<li>Gold slides on sluggish demand, silver firms up<\/li>\n<li>NCLAT allows insolvency proceedings<\/li>\n<li>Better days seen ahead for Reliance Nippon MF<\/li>\n<li>India apprehensive Iran sanctions could boost oil prices, inflation.<\/li>\n<\/ul>\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 style=\"text-align: justify;\">\n<li>Payment of <a href=\"https:\/\/carajput.com\/tds.php\">TDS<\/a> Deducted in April is 7th May 2019.<\/li>\n<li>GSTR-1 Due Date for the month of April 2019 is 11th May 2019.<\/li>\n<li>GSTR-3B for the month of April 2019 is 20th May 2019.<\/li>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"More_updates_INCOME_TAX_UPDATE_18_NOVEMBER_2015\"><\/span><span style=\"color: #0000ff;\"><strong><a style=\"color: #0000ff;\" href=\"https:\/\/carajput.com\/blog\/income-tax-act-3\/\">More updates: INCOME TAX UPDATE 18 NOVEMBER 2015<\/a><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"More_updates_INCOME_TAX_UPDATE_14_NOVEMBER_2015\"><\/span><strong><a href=\"https:\/\/carajput.com\/blog\/income-tax-act\/\"><span style=\"color: #0000ff;\">More updates:INCOME TAX UPDATE 14 NOVEMBER, 2015<\/span><\/a><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; Corporate and Professional Updates on 2nd May 2019 Direct Tax Updates: The Income Tax Department will now share information such as reported turnover and gross income declared with the Goods and Services Tax Network to check tax evasion.\u00a0The I-T Department and GSTN will enter an agreement on the modalities of information sharing. The Central &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[150,172,9,4,15],"tags":[7762,7769,6771,7799,7778,7776],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/5767"}],"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=5767"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/5767\/revisions"}],"predecessor-version":[{"id":19590,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/5767\/revisions\/19590"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=5767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=5767"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=5767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}