Clipped from: https://economictimes.indiatimes.com/news/company/corporate-trends/cos-may-get-time-to-deposit-unspent-csr-funds-with-banks/articleshow/82689659.cmsSynopsis Companies are required to spend at least 2% of their average net profit of the preceding three financial years on CSR. In January,
Day: May 17, 2021
Stricter RBI rules force auditors to rethink on assessing holding companies – The Economic Times
lipped from: https://economictimes.indiatimes.com/news/economy/policy/stricter-rbi-rules-force-auditors-to-rethink-on-assessing-holding-cos/articleshow/82689602.cms Synopsis–Holding companies of large corporate entities are now categorised as “deemed” Non Banking Finance Companies (NBFCs) even if they have not borrowed a
Small businesses struggle to stay afloat in second wave – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/india/small-businesses-struggle-to-stay-afloat-in-2nd-wave/articleshow/82690642.cmsSynopsis The second lockdown, following the more deadly second wave of the pandemic, has completely disrupted the entire payments cycle that’s critical for small
GST applicable on credit card expenses incurred by employees of MNCs’ India arms, rules AAR – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/gst-applicable-on-credit-card-expenses-incurred-by-employees-of-mncs-india-arms-rules-aar/articleshow/82658752.cmsSynopsis As per the details of the case, ICU Medical Inc had provided credit cards to employees of its India subsidiary for incurring business-related
Interest for delayed payment on imported goods liable to GST: AAR – The Economic Times
lipped from: https://economictimes.indiatimes.com/news/economy/policy/interest-for-delayed-payment-on-imported-goods-liable-to-gst-aar/articleshow/82659395.cmsSynopsis AAR observed that the holding company had “tolerated the act” of receiving payment after a lapse of a period of 120 days from
CBIC starts special drive to clear pending GST refund claims by month-end – The Economic Times
lipped from: https://economictimes.indiatimes.com/news/economy/finance/cbic-starts-special-drive-to-clear-pending-gst-refund-claims-by-month-end/articleshow/82675495.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis In an instruction to all Principal Commissioners of Central Tax formations, the CBIC said there is a need to focus on timely disposal
Tractor sales to be hit as second Covid wave impacting rural areas: Escorts – The Economic Times
Synopsis The company, which has a joint venture with Japan’s Kubota, is looking at around 55 per cent growth in exports in 2021-22 with Europe
Sales of AC, other cooling products again hit by pandemic in peak season; companies now pin hopes on extended summer – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/cons-products/durables/sales-of-ac-other-cooling-products-again-hit-by-pandemic-in-peak-season-companies-now-pin-hopes-on-extended-summer/articleshow/82677786.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis Leading players in the segment including Voltas, Daikin, Blue Star, Panasonic and Haier reported almost 75 per cent dip in April sales this
Reimbursement claimed on welfare expenses incurred by multinationals in India outside gamut of tax: ITAT – The Economic Times
lipped from: https://economictimes.indiatimes.com/news/economy/policy/reimbursement-claimed-on-welfare-expenses-incurred-by-multinationals-in-india-outside-gamut-of-tax-itat/articleshow/82680179.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis Tax tribunal lays out ground rules for taxing such expenses, should benefit Indian arms amidst Covid pandemic. It said that there should be
Govt may amend DICGC Act in monsoon session to provide timely service to ailing bank depositors – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/govt-may-amend-dicgc-act-in-monsoon-session-to-provide-timely-service-to-ailing-banks-depositors/articleshow/82677021.cmsSynopsis Once the Bill becomes the law, it will provide immediate relief to thousands of depositors who had their money parked in stressed lenders
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