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CFO’s Reading List

| Updated on October 12, 2019 Published on October 12, 2019

Piyush Goyal (file photo).

Did you miss all the key corporate and financial stories this week because you took a Puja break? Here’s a curated reading list of BL’s most important stories under these heads to help you catch up.

Give and take

Even as the Indian manufacturing and agricultural sectors have been petitioning the Centre not to sign the RCEP, the Commerce Minister is hoping to win benefits for India’s services sector from other RCEP partners.

Here’s the inside track on what India is likely to seek at the key trade negotiations with other ASEAN members at Bangkok this coming week.

Goyal to stress on safeguards against import surges, better services deal at RCEP meet

 

GST input credit curbs

New compliance headaches are around the corner for companies whose suppliers aren’t prompt with their GST return filings. Worried about GST collections undershooting this year, the Centre is seeking to limit the input credit claimed under GST in case of mismatches between GSTR1, GSTR2A and GSTR 3B.

Rules for input tax credit tweaked

 

More to come

And more such measures may be in the offing with a new panel to look into falling GST mop ups.

GST Council sets up panel to augment collections, improve administration

 

Transmission, at last

After much coaxing and cajoling, banks are beginning to pass on the MPC’s rate cuts more promptly to borrowers with many PSBs announcing cuts in their MCLR and repo-linked lending rates this week

Repo-linked rates, MCLR cut by PSBs

 

Pushing PSBs

Spooked by recent RBI data on evaporating credit flow to the commercial sector in India, the FM has promised to do more for NBFC liquidity and plans to meet PSU bankers on October 14.

FM to hold review meeting with public sector banks on Oct 14

 

ECB rush

Hurt by bankers’ risk aversion back home, many Indian companies are ramping up ECB borrowings for their working capital needs, taking advantage of RBI’s relaxations in end-use a few months ago.

India Inc increasingly looks abroad for funds

 

More crorepati taxpayers

The CBDT’s latest data showed that the number of crorepati IT payers in India has grown 20 per cent and is now nudging the 1 lakh mark.

Number of crorepati taxpayers up 20%

 

Mini-stimulus

Here’s a mini-stimulus no one expected. The rate of DA for government employees and pensioners is set to go up from 12 per cent to 17 per cent with retrospective effect from July 1 2019. This also means that government staff will get lumpsum payments in the form of three months’ arrears on the DA. While one may be intrigued by the higher DA at a time when CPI inflation is so low, the Government claims this hike is in line with the 7 th Pay Commission formula.

DA for Central govt employees/pensioners to go up by 5%

 

The Singh story

The inside story of how the Ranbaxy brothers Malvinder and Shivinder Singh came to figure on the EOW radar.

How Singh brothers Shivinder and Malvinder lost their fortune

 

Compiled by Aarati Krishnan

Published on October 12, 2019
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