K K Baranwal & Assoc.

27/01/2025

26/01/2025

हमारे देश की आज़ादी और गणतंत्र के संघर्ष को नमन. आपको और आपके पूरे परिवार को गणतंत्र दिवस की हार्दिक शुभकामनाएं!

29/10/2024

धनतेरस का ये त्यौहार आपके जीवन में लाए अपार सुख,
धनतेरस के मौके पर आपको और आपके परिवार को हार्दिक शुभकामनाएं

27/09/2024

The due date for the return filing of domestic companies for FY 2023-24 is 31st October 2024. For assistance connect: 9958548109

15/08/2024

चलो फिर से आज वो नजारा याद कर लें,

शहीदों के दिल में थी वो ज्वाला याद कर लें,

जिसमें बहकर आज़ादी पहुंची थी किनारे पर,

देशभक्तों के खून की वो धारा याद कर लें।

स्वतंत्रता दिवस की हार्दिक शुभकामनाएं -

सी ए कृष्णा कुमार बरनवाल

09/08/2024

Website: https://cabaranwal.com
09.08.24
*Today’s News Broadcast*

1.Trai mandated telecom operators to disconnect and blacklist for two years any entity misusing bulk connections for spam calls.

2. The Delhi High Court has set August 23, 2024, for the final hearing on the Black Money Act, affecting individuals such as Robert Vadra and Deepak Talwar. Central issues include the retrospective application of the law and the timing of tax notices.

3. The Reserve Bank of India has proposed raising the upper limit for tax payments through Unified Payments Interface (UPI) from Rs 1 lakh to Rs 5 lakh per transaction.

4. Bajaj Finance received a show cause notice from the DGGI for alleged GST evasion amounting to ₹341 crore. The notice accused the company of misclassifying service charges as interest to avail tax benefits.

5. A key reform is the new GST rate of 5% on all aircraft components and engines, effective July 15, 2024. This replaces the previous range of GST rates—5%, 12%, 18%, and 28%—which had led to operational challenges and GST accumulation issues.

6. Cochin Shipyard saw a 76.6% increase in net profit to Rs 174.23 crore for the June 2024 quarter, compared to Rs 98.65 crore a year earlier. Revenue from operations grew by 62% to Rs 771.47 crore.

7. GRSE reported a 14% rise in profit after tax for the June quarter, alongside a revenue increase and improvements in the debt-equity ratio.

8. Oil India saw a 10% dip in first quarter profit, down to Rs 1,467 crore, due to higher levies and expenses. Despite a 26% increase in revenue to Rs 5,840 crore, the higher excise duties and other statutory levies affected the margin. Meanwhile, operating profit in oil and gas segments showed growth.

Regards
CA Krishna Kumar Baranwal
B.Com., F.C.A., L.L.B.

, , , , , ,

K K Baranwal & Associates, headquartered in Delhi, is a leading financial advisory firm known for its exceptional services in accounting, finance, taxation, and legal domains. Our clientele includes start-ups, SMEs, and multinational corporations, benefiting from our tailored solutions aimed at enha...

06/08/2024

Website: https://cabaranwal.com
06.08.24
*Today’s News Broadcast*

1. DGGI has sent show cause notices to 10 foreign airlines operating in the country, for alleged non-payment of tax amounting to ₹10,000 crore. They include British Airways, Lufthansa, Oman Air, Emirates and Singapore Airlines. The notices, sent over the past three days, deal with unpaid tax dues on the import of services by Indian branches from head offices.

2. The global stock sell-off has spurred calls for the US Federal Reserve to lower interest rates quickly and decisively. Analysts are now urging an emergency rate cut before the Fed’s scheduled decision in September.

3. Vedanta Resources Ltd. aimed to refinance its high-yield debt to lower costs following a favorable rating upgrade. The company entered talks to refinance $3 billion of bonds maturing between 2026 and 2028.

4. Motherson Group has joined Apple's supply chain network in India in partnership with BIEL Crystal Manufactory. They will set up a manufacturing facility in Tamil Nadu with an investment of Rs 2,000-2,500 crore.

5. Union Minister G Kishan Reddy confirmed that Jammu and Kashmir's Assembly elections would be held in September. He urged voters to support BJP, highlighting the positive changes since the revocation of Article 370.


Regards
CA Krishna Kumar Baranwal
B.Com., F.C.A., L.L.B.

, , , , , ,

K K Baranwal & Associates, headquartered in Delhi, is a leading financial advisory firm known for its exceptional services in accounting, finance, taxation, and legal domains. Our clientele includes start-ups, SMEs, and multinational corporations, benefiting from our tailored solutions aimed at enha...

05/08/2024

Website: https://cabaranwal.com
05.08.24
*Today’s News Broadcast*

1. The dispute over GST on transfer of development rights resurfaces as authorities demand landowners pay taxes on joint development agreements with developers, potentially impacting major property markets. The focus is on whether GST applies to land transactions and who is responsible for payment. Landowners face confusion as developers try to shift tax burden.

2. The RBI was predicted to keep the key interest rate steady at 6.5% at its August meeting, influenced by persistent inflation and economic growth. Experts noted any rate cuts might be seen in late 2024, subject to further economic data. This decision aligns with the similar stance of the US Federal Reserve.

3. Telecom operators have voiced concerns over Trai's new QoS norms, citing increased compliance and cost burdens without sufficient customer gains. Effective from October 1, the new rules demand monthly QoS reporting and offer compensation for outages. The telcos plan to work with Trai to resolve these matters.

4. IDBI Bank is selling its Rs 6,151 crore legacy stressed asset portfolio to Omkara Asset Reconstruction Company (ARC) in a move that will help the government fetch an improved valuation for the proposed stake sale in the lender.

5. Home-grown FMCG firm Emami's 45% top-line in FY24 came from acquired brands, and non-seasonal brands contributed 56% of its revenue. Emami is graduating from being a seasonal and rural-focused company to a "perennial and universal" organisation.

6. The survey noted that India faces two choices to benefit from the 'China plus one strategy' -- it can integrate into China's supply chain or promote FDI from China. "It is the trade-off...instead of keeping on import from them (China). We should allow it," said Niti Aayog member Arvind Virmani.

Regards
CA Krishna Kumar Baranwal
B.Com., F.C.A., L.L.B.

, , , , , ,

K K Baranwal & Associates, headquartered in Delhi, is a leading financial advisory firm known for its exceptional services in accounting, finance, taxation, and legal domains. Our clientele includes start-ups, SMEs, and multinational corporations, benefiting from our tailored solutions aimed at enha...

04/08/2024

Website: https://cabaranwal.com
04.08.24
*Today’s News Broadcast*

1. Divi's Laboratories reported a consolidated net profit of Rs 430 crore for the quarter ended June 30, 2024, which was up by 21% over Rs 356 crore reported by the company in the year ago period. It was lower than Street's estimates of Rs 448 crore.

2. Infosys said late Saturday that the Directorate General of Goods and Services Tax Intelligence (DGGI) had ended “the pre-show cause notice proceedings for the financial year 2017-2018,” adding that “the GST amount as per the pre-show cause notice for this period was Rs 3,898 crore”.

3. In 2023, Meta's Mark Zuckerberg declared a shift towards AI, significantly increasing tech infrastructure spending. Major tech firms, such as Apple, Amazon, Microsoft, and Alphabet, are also investing heavily in AI, despite investor worries about delayed returns. These companies see AI as a transformative technology worth the high costs.

4. Eveready Industries India saw an 18.1% increase in Q1 net profit, reaching Rs 29.36 crore, while revenue declined by 3.9% to Rs 349.37 crore. The company attributed the revenue dip to multiple factors, including a high base effect and a slowdown in some products, but highlighted gains from premiumisation and innovation.

5. JK Tyre & Industries recorded a 37% rise in net profit to Rs 211 crore for the first quarter of FY25, compared to Rs 154 crore in the same period last year. Despite a slight drop in total income, the company mitigated this with strong export growth and contributions from its subsidiaries.

6. SBI reported PAT at Rs 16,884.29 crore in the year-ago period. The Street had estimated PAT at around Rs 16,786 crore. During the reported quarter, the interest earned amounted to Rs 1,11,526 crore, marking a 16% increase compared to the Rs 95,975 crore reported by the lender in the same quarter of the previous financial year. The bank's interest expenditure for the April-June quarter was Rs 70,401 crore, up from Rs 57,041 crore, representing a 23% year-over-year increase.

Regards
CA Krishna Kumar Baranwal
B.Com., F.C.A., L.L.B.

, , , , , ,

K K Baranwal & Associates, headquartered in Delhi, is a leading financial advisory firm known for its exceptional services in accounting, finance, taxation, and legal domains. Our clientele includes start-ups, SMEs, and multinational corporations, benefiting from our tailored solutions aimed at enha...