Come Sep 1, non-filers of 2 monthly GST returns to be barred from filing GSTR-1

2021年11月30日 0 Comments

Businesses that have not filed GSTR-3B returns in the preceding two months will not be able to file details of outward supplies in GSTR-1 from September 1, GSTN has said. While businesses file GSTR-1 of a particular month by the 11th day of the subsequent month, GSTR-3B, through which businesses pay taxes, is filed in a staggered manner between 20th-24th day of the succeeding month. In an advisory to taxpayers, GSTN, which manages the technology backbone for Goods and Services Tax, said that Rule-59(6) of Central GST Rules which provides for restriction in filing of GSTR-1, will come into effect from September 1, 2021. According to the rule, a registered person shall not be allowed to furnish the details of outward supplies of goods or services or both in Form GSTR-1, if he has not furnished the return in Form GSTR-3B for preceding two months. For taxpayers filing quarterly return, GSTR-1 filing would be restricted if he has not furnished the return in Form GSTR-3B for preceding tax period. EY Tax Partner Abhishek Jain said this is a well thought restriction and a necessary control check to eliminate the cases where taxpayers although report their supply invoices in GSTR-1 (due to constant follow ups from recipients side) but they do not submit their corresponding GSTR-3B return through which tax is actually paid to government. Compliant taxpayers would appreciate this move as till now their input tax credit was also at risk in case vendors do not file their GSTR-3B even though such invoice is appearing in GSTR-2A, Jain added. AMRG Associates Senior Partner Rajat Mohan said from September 1 GSTN is implementing GST rules that bars a taxpayer to file GSTR 1 wherein taxpayer has not paid taxes for previous two consecutive tax periods. This system will cumulatively result in barring the flow of tax credit to the customers of a non-compliant vendor, Mohan said Implementation of this Rule on the GST Portal would be completely automated and digital, thereby no separate approval would be necessary from the tax-officer to restore the facility for filing of GSTR-1, Mohan added.

Oil & Gas stocks to buy: Shares may rally 40%; OMCs cut petrol, diesel prices as global crude rates fall

2021年11月16日 0 Comments

Oil marketing companies (OMCs) have started cutting petrol and diesel prices as global crude oil rates softened. So far this month, petrol prices have been cut twice while diesel rates have been slashed on five instances. Last month, petrol prices were increased on nine occasions, while diesel rates were hiked 5 times. In June and May, fuel prices were raised 16 times each month. In the past month, the cumulative cut in petrol and diesel prices stood at Rs 0.4 and Rs1.0 per litre, respectively, with crude prices hovering around USD70 Domestic research and brokerage firm Emkay Global Financial Services has given buy rating to seven oil and gas stocks – BPCL, GAIL, Gulf Oil Lubricants, IGL, IOCL, ONGC, Petronet LNG and see up to 38 per cent rally from current levels. In a recent sector update report, the research firm noted that demand for oil products in the first half of August 2021 has slightly recovered from the second Covid-19 wave period, though petrol and diesel sales were down 4.9 per cent and 15 per cent, respectively, (due to monsoon seasonality impact as well) and LPG was down 2.7 per cent, while ATF prices was up 25 per cent, sequentially. Sabri Hazarika, analyst at Emkay Global Financial Services, in a report, highlighted that petrol, diesel, ATF, and LPG sales volumes rose 9.4 per cent, 18.5 per cent, 48 per cent, and 6.6 per cent, respectively, on-year. As compared to the same period in calender year 2019, petrol managed to sustain at pre-Covid levels (up 3.7 per cent), pushed up by personal mobility demand (despite all-time-high prices), though diesel, ATF and LPG demand continued to lag (down 7.9 per cent, 45 per cent, 2.5 per cent). Oil Gas stocks to buy BPCL: Emkay Global Financial Services see 16 per cent upside in the BPCL stock and pegged the target price at Rs 535 per share. The brokerage firm is overweight on thil oil gas stock. GAIL: It will take GAIL stock to rally 38 per cent from the current level of Rs 145 apiece, to hit the target price of Rs 200 per share set by the brokerage firm. Emkay Global is overweight on GAIL stock. Gulf Oil Lubricants: Analysts at the brokerage firm see at leat 35 per cent rally in the Gulf Oil Lubricants stock price. It has pegged a target price of Rs 800, as against the current level of Rs 591 per share. The brokerage firm has buy rating to the stock. IGL: Indraprastha Gas Ltd may see a rise of 21 per cent from the current level of Rs 524.60 apiece. The brokerage firm has pagged a target price at Rs 635 per share, and is overweight on the stock. IOCL: Indian Oil Corporation Ltd stock may rally 27 per cent to Rs 135 per share share, as suggested by the brokerage firm. Emkay Global Financial Services has given buy rating to the stock. ONGC: Emkay Global Financial Services is overwight on the ONGC stock. The stock has a target price pegged at Rs 140, a 21 per cent rally from the current levels. Petronet LNG: Domestic research and brokerage firm has a buy rating to the stock. It will take Petronet LNG stock to jump as much as 18 per cent from the current levels to hit the target price of Rs 270 per share, seen by the research firm. (The stock recommendations in this story are by the respective research analysts and brokerage firms. Financial Express Online does not bear any responsibility for their investment advice. Capital markets investments are subject to rules and regulations. Please consult your investment advisor before investing.)

Seagate launches its ‘fastest and most powerful’ PlayStation 5-compatible FireCuda 530 SSDs in India

2021年9月28日 0 Comments

Seagate is launching its FireCuda Expectedly, the FireCuda Seagate claims the PC options offer the Both versions will be available in 500GB, 1TB and 2TB configurations. The FireCuda They will be sold via authorised reseller partners starting from September 2. Seagate says the FireCuda The FireCuda They will be sold via authorised reseller partners and Amazon by September-end. Also Read | PlayStation 5 versus Xbox Series X: Seagate storage expansion card tips the scales in Microsoft Next to SATA-based SSDs, they are claimed to offer a 12x performance jump. More specifically, the FireCuda The SSDs also come with a three-year Rescue Data Recovery Service plan

Odisha relaxes weekend shutdown restrictions in September

2021年9月21日 0 Comments

Odisha government Tuesday relaxed a number of restrictions imposed to stop the spread of coronavirus in September in view of the declining rate of infection in the state. Special Relief Commissioner P K Jena said the government has decided to withdraw weekend shutdowns from all places in the state, including Bhubaneswar, Cuttack and Puri. However, night curfew will continue in Odisha from 10 pm to 5 am to restrict the movement of the people. Essential services like cab and food delivery aggregators will be allowed to operate during the night curfew and there will be no restriction on plying of commercial vehicles, including passenger buses and goods carrying trucks. Shops, business establishments will be allowed to function and other activities will be allowed between 5 am to 10 pm, he said. The restrictions were imposed in May to contain the spread of the pathogen during the second coronavirus wave. Odisha government has also extended the ceiling on the number of participants in weddings, thread ceremony and funerals from 50 to 250. This will include the host, guests and the service providers like the cook, priest and others, Jena said. Under no circumstances the number of participants in such events will be more than 250, he said adding that the restrictions on holding religious, political and cultural congregations will continue to remain in force through out September. Library, museum, information centres, cinema halls, auditoriums and malls will operate from 5 am to 10 pm with full capacity adhering to the COVID-19 norms to avoid the spread of the disease. The owner of the auditoriums, shops and cinema halls and malls will be held accountable in the event of violation of COVID-19 norms by the people in their premises. The government has relaxed the mandatory Covid vaccination certificate and RT-PCR test for entering malls and other places. It authorised district collectors and commissioners of police, including in Cuttack and Bhubaneswar, to impose additional restrictions keeping in view the local situation.

Technology in Realty Sector: PropTech platforms boost retail investments in commercial properties

2021年8月17日 0 Comments

By Varun Mohan Numerous pro-investor policies and infrastructural growths are suggestively contributing to the sector Even during the pandemic-induced lockdown in 2020, the commercial realty segment in India remained resilient and picked up the pace of growth till the first quarter of 2021. The preliminary phase of the pandemic weakened the gushes of the stakeholders. Though, with the ease in movement restrictions and economic activities, the sector embarked on a growth trajectory. According to a recent industry report, institutional investments in the Indian real estate sector grew by 21 per cent during the first quarter of 2021. Further, in the next quarter, the uncertainty caused due to the second wave of the pandemic put the sector on a temporary pause. But owing to the growth drivers of the sector, the investors Despite the short-term disruptions caused by the exacerbating impact of the pandemic, the Indian commercial realty segment is poised for a speedy recovery. Several institutional investors will continue to be bullish on commercial assets for resilient and long-term growth. Even during the pandemic, there was a steady flow of $4.8 billion investments in the sector, as per the recent data. The growth in the commercial realty sector is pointed towards the integration of new-age technologies in the real estate sector. The set of technology-driven offerings and services by innovative PropTech platforms disrupts the conventional realty sector. Additionally, the emergence of prop-tech platforms is attracting unprecedented investments from investors looking for safe growth amid the pandemic. Besides, the global business climate, tech-enabled businesses and employment trends also make the office space market move on an upward trajectory. Ownership of a commercial asset contributes to income and wealth generation. Until a few years ago, investing in a premium commercial space was not practical because of its high-ticket price. However, with the introduction of fractional ownership, a wider pool of institutional investors, individual investors, and fractional investors can jointly purchase A-Grade property. Fractional Ownership is picking up the pace in India. It is opening a myriad of avenues for new-age investors to participate in new opportunities at a fraction of the cost. It works as a platform where individuals can get together to purchase a commercial asset, enjoy the yield it generates and finally be able to sell their fraction when they want, thus enjoying capital gains. Hence, the emerging trend of fractional ownership is significantly set to influence the Indian commercial realty segment. Investing in a commercial asset is the choice of experienced investors and has never been a thing of new-age investors. The years of experience and deep knowledge required to identify a profitable commercial asset makes it difficult for many investors to step on A-grade commercial properties. Hence, as a solution to have specialised knowledge, the right connections and access to a huge amount of capital, Fractional Ownership is the inevitable change coming to the commercial real estate market. Further, PropTech platforms offering fractional ownership thoroughly sanitise each asset and use big data analytics, predictive algorithms and conservative financial model to provide a safe investment opportunity to fractional owners. As a result, commercial investors enjoy the opportunity of minimised risk with optimised returns from regular rental yield and capital appreciation. Investors in commercial realty strive for more opportunities that help them in creating wealth. This comes with the diversification of investments that also balances risks and rewards in their investments. With the integration of technology, prop-tech plays a crucial role in diversifying investors This helps investors in getting access to transparent reporting with a dedicated focus on maximising their returns. Further, investors looking for a safe investment opportunity are capitalizing on real-time asset performance, payouts and financial models that work in the favour of investors. Though there are endless ways to create income, owning a property will always be considered a long-term investment option. Considering the pace of digital adoption, PropTech is going to play an impressive role in revamping the conventional Indian commercial realty segment. It is projected to focus on fractional ownership to provide profitable investment opportunities to new-age investors.

Indian Railways to resume Bilimora-Waghai narrow gauge train in Gujarat with AC Tourist coach

2021年7月27日 0 Comments

Indian Railways is all set to resume Bilimora-Waghai narrow gauge section train services! Minister of State for Railways and Textiles Darshana Jardosh recently announced the resumption of the narrow gauge section between Bilimora and Waghai as a gift on the occasion of Janmashtami. According to the minister, the tribal people and local residents in Gujarats Dang district faced many problems due to the closure of trains because of the Covid-19 pandemic. Thus, Western Railways will restart Bilimora-Waghai narrow gauge heritage train services from Saturday (4 September 2021). The resumption of train services is said to be of great convenience to locals, those travelling for employment and business from this area as well as for the benefit of tourists and passengers. From Saturday, Train Number 09501 Bilimora-Waghai Special will depart from Bilimora on all days at 10.20 AM and the train will reach Waghai at 1.20 PM, the same day. While Train Number 09502 Waghai-Bilimora Special will depart from Waghai station daily at 2.30 PM and it will reach Bilimora at 5.35 PM, on the same day. En route both directions, the train will halt at Rankuva, Chikhli Road, Gandevi, Unai and Vansada Road, Anaval, Dholikuva, Kala-Amba, Kevdi Road and Dungarda stations. This narrow gauge heritage train comprises unreserved second class seating coaches and a fully reserved air-conditioned tourist coach. On 3 September 2021, the ticket booking of the air-conditioned tourist coach of Train Number 09501\/09502 will open at nominated PRS counters as well as IRCTC website with advance reservation period of seven days. The AC tourist coach will boast the following features: AC system with 04 tonnes capacity, sufficiently designed considering passenger comfort Warli paintings on trains exterior for beautification, representing the regions cultural landscape It has a capacity of 15 passengers, in configuration of 2+1 Each chair in the AC tourist coach provided with individual snacks table Provision of calling bell for hailing attendants Western style lavatory inside the coach with automatic odour control system Two fire extinguisher systems, each having 6 kg capacity

Medtronic and Stasis announce partnership to enhance access to patient monitoring in India

2021年7月27日 0 Comments

Medical technology company India Medtronic Private Limited, a wholly owned subsidiary of Medtronic plc has announced a strategic partnership with Stasis Health Private Limited, a wholly owned subsidiary of Stasis Labs Inc, for scaling up and expanding access for their state-of-the-art Stasis Monitor, a connected care bedside multi parameter monitoring system. The partnership is a strong strategic fit, leveraging the two companies The Stasis Monitor, which has FDA market clearance, is a centralized monitoring system that automates and digitizes monitoring, documentation, and communication of critical patient information. The addition of Stasis Monitor to the Medtronic portfolio expands the company The Stasis Monitor is used in Emergency lCUs, Surgical lCUs, High Dependency Units, Step Down Units, and Private Patient Rooms. Unlike conventional disconnected bedside monitors, the Stasis connected care monitoring system includes – a bedside monitor that monitors 6 vital signs, a tablet that enables intuitive monitoring, and the Stasis app that allows for remote monitoring across devices. Equipped to provide patient data to any device through the cloud, the system is appropriate for data driven insights. It includes battery backup to move patients between different areas of care and provides 24 hour vital-sign trend data along with AI powered proactive alerts. This is the first such partnership by Medtronic in India and we are proud to offer a solution that is completely manufactured in India, aligning with the Governments vision of Make-in-India. This system can turn any hospital into a smart hospital within hours and in the post-pandemic world, should help increase nursing productivity with the long-term goal of creating better outcomes, This partnership marks a significant milestone in Stasis We are excited to be partnering with Medtronic to digitally transform more hospitals and care facilities across India. We are confident that this will further bridge the gap between doctors and their patients, while improving patient management workflow and reducing in-person exposure between caregivers and patients, he added. Additionally, the Stasis Monitor uses patented predictive Artificial Intelligence (AI) and simplifies digital transformation in hospitals to help nurses and doctors identify patient deterioration and improves patient outcomes. The system has been aggressively tested by top hospital chains across India, with over 50,000 patients monitored to date.

FinMin extends deadline for making payments under Vivad se Vishwas scheme till September 30

2021年7月20日 0 Comments

The government on Sunday extended by a month the deadline for making payments under the direct tax dispute resolution scheme Vivad Se Vishwas till September 30. The scheme provides for settlement of disputed tax, interest, penalty or fees in relation to an assessment or reassessment order on payment of 100 per cent of the disputed tax and 25 per cent of the disputed penalty or interest or fee. The taxpayer is granted immunity from levy of interest, penalty and institution of any proceeding for prosecution for any offence under the Income Tax Act in respect of matters covered in the declaration. In a statement, the finance ministry said, Considering the difficulties being faced in issuing and amending Form no 3, which is a prerequisite for making payment by the declarant under Vivad se Vishwas Act, it has been decided to extend the last date of payment of the amount (without any additional amount) to September 30, 2021. The ministry had in June extended the deadline for making payments under the scheme till August 31. However, taxpayers have the option to make payments till October 31, with an additional amount of interest. It is, however, clarified that there is no proposal to change the last date for payment of the amount (with additional amount) under Vivad se Vishwas Act, which remains as October 31, 2021, the ministry said on Sunday. Earlier this month, Minister of State for Finance Pankaj Chaudhary informed Parliament that over 1.32 lakh declarations entailing disputed tax of Rs 99,765 crore has been filed under the scheme. The last date for making a declaration under the scheme was March 31, 2021. Payments of Rs 53,684 crore have been received by the government against disputed tax till August 9, and more is expected to come in based on the declarations already filed.

Retain ‘buy’ on HUL with highest TP of Rs 3,010

2021年6月22日 0 Comments

We had listed 13 reasons for re-rating of Hindustan Unilever (HUL) in our detailed report five months ago. The stock rallied 24% since (outperforming the FMCG index by 800 bps) to an all-time high. With softening raw material prices, recovering mobility spurring OOH discretionary products and a strong vaccination drive, we remain positive on the stock. We enlist 12 reasons that indicate more steam is left in the ongoing rally. In the near term, an improving portfolio mix combined with deflation in tea costs, apart from HUL Retain We remain positive on HUL The ongoing demand shift from smaller players to HUL would continue, especially in tea and soaps. The merger of the GSK portfolio with HUL has begun to yield a revenue delta; we believe the larger story will be innovation and new products in HFD and allied categories. We expect the FMCG major to be a key beneficiary of strong rural demand. The order situation is dynamic due to uncertainty around the pandemic; however, the company is well placed in terms of supply chain preparedness. The stock is trading at 57.1x FY23E EPS. Some of the reasons why we expect more upside are gross margin likely to have bottomed out as tea, packaging and palm oil prices have started correcting. The strong recovery in laggard categories such as fabric wash, discretionary, OOH products and detergents, gains in market share likely to sustain and the rural growth to revive. Scaling-up in food aided by GSK The growth potential in HUL FY22 will mark a healthy and strong balance of price and volume growth. Higher mobility, consumer-relevant innovations and investments in market development will also drive recovery in HUL

Covid-19: Gennova gets DCGI nod to start Phase II/IIII trials for its mRNA vaccine

2021年6月1日 0 Comments

Gennova Biopharmaceuticals on Tuesday received approval from the Drugs Controller General of India (DCGI) to start Phase II\/III trials for its Covid-19 vaccine. Gennova has developed the HGCO19 Covid-19 vaccine, which is the countrys first mRNA-based vaccine. The company has committed to making 60 million doses by the year-end. The company submitted the interim clinical data of the Phase I study to the regulatory authority, Central Drugs Standard Control Organisation (CDSCO). The Vaccine Subject Expert Committee (SEC) reviewed the interim Phase I data and found that HGCO19 was safe, tolerable and immunogenic. Genova is a biotechnology focused company of the Pune-based pharma company, Emcure Pharmaceuticals. Gennova developed the vaccine in partnership with the support of the Department of Biotechnology (DBT) under the ministry of science technology and its PSU, Biotechnology Industry Research Assistance Council (BIRAC). The mRNA platform is a new technology and global pharma companies like Pfizer and Moderna have administered millions with the mRNA Covid-19 vaccine over the last year. Sanjay Singh, CEO of Gennova Biopharmaceuticals, said after establishing the safety of the mRNA-based Covid-19 vaccine candidate HGCO19 in Phase I clinical trial, the company would start Phase II\/III clinical trial. In parallel, Gennova is investing in scaling up its manufacturing capacity to cater to the nations vaccine requirement, Singh said. Gennova submitted the proposed Phase II and Phase III study for a multicentre, randomized, observer-blind, Phase II study seamlessly followed by a Phase III study to evaluate the safety, tolerability and immunogenicity of the HGCO19 Covid-19 vaccine candidate in healthy subjects. The study will be conducted in India at 10-15 sites in Phase II and 22-27 sites in Phase III. Gennova plans to use the DBT-ICMR clinical trial network sites for this study. Renu Swarup, secretary, DBT and chairperson, BIRAC said this was an important milestone in the indigenous vaccine development mission and positioned India on the global map for novel vaccine development. According to Emcures top management, Gennova would benefit from the fill and finish facilities available at its parent company. Emcure has a lot of injectibles capacity, which could be reconfigured. The company was planning to repurpose a major portion of some of its existing facilities towards ramping up vaccine production. Down the line, there were also plans of partnering with contract manufacturing organizations in India. The company was confident of delivering 60 million doses by year-end.