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Chennai born,American lady Divya Suryadevra appointed CFO of largest vehicle manufacturing co. General Motors.39 years Divya [earlier VP (Corporate Finance)] will replace Chuck Stevens.She was working as VP since July,2017.She will work under CEO Mary Burra.Divya & Burra are only ladies working at highest posts in vehicle industry.She is a commerce graduate from Madras University,then did her MBA from Harvard.25 years old Divya joined General Mot...
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TCS, in its Board meeting on Jun'15,2018 will discuss to buy back shares.No details to buy back shares are disclosed by it.Its CEO during its Q4 FY2018 earnings call, said that, co. intends to keep its capital return to 80-100% of annual free cash flow.TCS undertook a Rs 16,000 cr. buyback offer, for 5.61 cr. shares at Rs 2,850/share.It tendered over 3.60 cr. shares, for 64.2% of total shares bought back by it.For FY2018, TCS returned Rs 26,800 c...
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We will discuss Composite supply in 3 simple steps: Definition, Clarification and what rates of GST are applicable for composite supplies.
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Facelift images are online,no camouflage, of 2018 model of Maruti Suzuki Ciaz.Photos of car are taken from some distance,but one can see facelift done in Ciaz with many updates, has a new good face.Set of spy images of car,that are shared with us by a reader provides a better near view of car,but this is camouflaged test mule.In them,updated interior of Ciaz is seen.Cabin's photo is not clear,but can seen that most of design & styling parts are r...
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Sun Pharmaceutical Industries gained 9%,as investors were happy on regulatory development on stock.A report on CNBC-TV18,co. has received a VAI status for its Halol plant from US FDA,implying that no re-inspection required at its Halol plant from US FDA & it issued to unit 3 observations recently.Last week (quarter ending Mar',2018) drug unit had gained about 7% in consolidated net profit at Rs 1,308.96 crore.
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Penalty u/s 271(1)(c) of Act was levied by AO on addition made by AO on account of write off of bad debts, in proceedings u/s 143(3) r.w.s. 254 of I.T.Act. On appeal CIT(A) confirmed the penalty. On appeal ITAT held, In CIT Vs. M/s Vardhman Acrylics Limited, it has been held that assessment having been made under provisions of MAT u/s 115JB of Act, penalty u/s 271(1)(c) of Act cannot be levied on additions & disallowances made in regular income.-...
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Microsoft, submerged Northern Isles data center off Orkney archipelago in northern Scotland in a project to save energy used to cool servers on land.This center has a 12.2 metre long white cylinder containing 864 servers,storing 5 million movies, and be at seabed for 5 years. An undersea cable brings electricity, from Orkney's renewable energy network of wind turbines and tidal power, to the centre and carries data from the servers to the shor...
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Those having long-term debt mutual fund schemes,rate hike is not good,for debt mutual fund investors.RBI hiked its repo rates by 25 basis points.As Per its monetary policy,banking regulator said reverse repo rate under LAF stands adjusted to 6% & MSF rate & Bank Rate @ 6.5%.MPC's decision is for achieving medium-term target for CPI inflation of 4% (+/- 2%), and for growth.So mutual fund advisors were asking investors to stick to short-term debt m...
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Share prices of many co.s fell as their auditors resigned suddenly eg ManpasandNSE -6.65 % Beverages, AtlantaNSE -14.63 % tumbled 20%, VakrangeeNSE -4.96 % .To identify early signs check 5 pointers.1.Skewed business performance 2.Absence or low implementation of policies or frameworks. 3.Unusual related party transactions. 4. Behavioural factors 5.Frequent fundraising/equity dilution ;Too many acquisitions ; Consistently increasing debt;Formation...
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Liquid Level transducers Market Research Report 2018, by ResearchStore.biz reveals, evaluation of future trend,analysis of past data, growth factors,static,industry market data, experts opinions.Explains factors related to its market like market segments,dynamics,size,growth,technological trends,competitive landscape,regulatory requirements & scope in US,China,Europe,SE Asia,Japan,India,their respective production,revenue,consumption,import & e...
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Engie (French electric) to develop 300 MW of wind energy across 9 wind farms in Spain,investing $350 million,without support of Government,only European energy co. doing it.Vattenfall(Swedish power co.) will build a 700 MW offshore wind farm,1st without any subsidy,in Netherlands.Governments subsidize renewables,for environmental benefits. In Germany, in auction , the federal grid regulator accepted four bids for a total of 1,490 MW of offsho...
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Conciliatory efforts by CLC failed,employees of PSU banks will be on 2 days nationwide strike(May'30-31).SBI,BOB & Canara Bank,alerted that due to strike their services & operations would be affected. CLC held a conciliatory meeting between UFBU,finance ministry officials & IBA to avert strike,but it was all in vain.ATM security guards will also be on strike, some ATMs may remain shut on 2 days. UFBU - a body of 9 unions, eg AIBOC, AIBEA , NOBW ...
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Patanjali tied up with BSNL & launched 'Swadeshi Samriddhi' SIM cards,entering telecom sector.Initially only Patanjali employees & office bearers will avail its SIM card's benefits.When SIM is recharged for only Rs. 144,users will get 2GB data pack,with 100 SMSes & unlimited calls in India. When SIM cards is rolled out fully,10% discount on Patanjali products will be given to its customers. BSNL counters to provide 'Patanjali swadeshi-samrad...
When a person is admitted to hospital, a number of services are availed. These services are covered under the definition of supply under GST. This includes accommodation of patients. Since it is a ‘supply’, is it subjected to GST?
Technology is the result of human intelligence. It keeps on getting more and more advanced every day. Just look at these self-driving vehicles, satellites on the outer space, the computer chips which act more and more like the human brain, the development of Artificial Intelligence to this stage. But we are not talking about how wonderful technology is, rather we shall wonder how long will current technology last before a new one pops up.
Everybody knows India is an agrarian economy, meaning an economy largely dependent on Agriculture. While the government is keen on organizing and developing this sector, the revered Indian farmer is not happy with the GST. Let us explore their source of anguish
India, one of the most culturally and traditionally rich county still has lakhs of crores of people indulging in traditional artistry. When I say a village, the image which pops in our mind is of few women sitting around a tree and weaving something, potters making clay pots and other such handmade items. Ever wondered what does the GST has in store for them?
In continuation of the series, we bring you this article to help you understand some more provisions relating to the E-Way bill
Case Law,Sep. 22, 2017
Many a times, when a supplier supplies goods or services, the receiver is not happy with the product or service that he receives. He may find product defective, quality poor or service deficient. So he decides to return the product, or asks for a refund. In such a case, what should be the accounting policy?
Assessee individual was director of General Cement Products Pvt. Ltd. (GCP), in which he held 12.05% shares, and from which he availed an advance of Rs 1 crore. AO treated the loans and advances received by assessee from GCP as deemed dividend u/s 2(22)(e), and made an addition. CIT(A) deleted the addition and held that as per assessee’s revised return, he was not having substantial interest in GCP, and s 2(22)(e) did not apply. ITAT concurred.-5...
Assessee company was a tea producer. It had land which was acquired 40 years ago for Rs 16 lacs, which it sold for sale consideration of 2.62 crores. Profit on sale of land was shown as income in the accounts. AO treated such profit as income from other sources. CIT(A) directed AO to delete the addition of Rs 2,46,00,000, and treat Rs 50,00,210 as long term capital loss arising from transfer of land. ITAT confirmed CIT(A)’s order.-501309
Assessee co-operative society worked for socio-economic development of milk producers. It claimed deductions u/s 80P(2) on interest received of Rs 9,90,224 and on profit from business of Rs. 5,99,231. AO allowed deduction on interest income and denied the other claim. CIT(A) confirmed AO’s order. ITAT allowed the exemption as it was available to basic societies as also to a union (Apex Society) of which members are primary cooperative societies.-...
Case Law,Dec. 06, 2017
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