News Updates by CA Raj Chawla (01-01-2019)

We wish you and your family a very happy New Year. May God Bless all of us with Happiness, Prosperity, Peace of Mind and Satisfaction of Life. Om Shanti 🙏
I
Half of our problems in life are Because of we execute without thinking, Rest Half is because of we keep thinking and never execute.

Peace of mind is a beautiful gift which only we can give to ourselves just by expecting nothing from anyone even after doing everything possible for them.

Direct tax collection till December 20 this fiscal amounted to Rs 7.36 lakh crore, a growth of 14% over the same period a year ago. This is 64% of the Budget estimate for direct tax collection in the current fiscal.

Reduction in discount doesn’t amount to profiteering as the same was offered from his profit margin by the Respondent and doesn’t not form part of the base price and therefore, the Respondent cannot be held guilty under Section 171 of the Act. In re Kerala State Screening Committee on Anti-profiteering Vs M/s Asian Paints Ltd. (National Anti-Profiteering Authority)

CBIC issues updated 91 FAQs on applicability of GST on financial Services as on December 27, 2018http://www.taxmann.com/forms/BNNews328122018.pdf

MCA View Public Documents(VPD) services would be restricted from 28th December (Friday)2018 to 31st December (Monday)2018 between 8:00 hours to 20:00 hours.

Sebi expanded its offer for sale (OFS) framework to all the companies with market capitalisation of Rs 1,000 crore and above. Currently, the OFS framework is available to top 200 companies by market capitalisation.

RBI has notified the regulation for lending and borrowing under FEMA wherein the provisions related to borrowing by authorized Dealer or its branch office and Lending in foreign Exchange by person resident in India and so on.

Regards
CA Raj Chawla