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Jindal Drilling & Industries standalone net profit declines 3.66% in the June 2016 quarter

Jindal Drilling & Industries standalone net profit declines 3.66% in the June 2016 quarter

Sep 14,2016

Net profit of Jindal Drilling & Industries declined 3.66% to Rs 9.48 crore in the quarter ended June 2016 as against Rs 9.84 crore during the previous quarter ended June 2015. Sales rose 11.24% to Rs 92.66 crore in the quarter ended June 2016 as against Rs 83.30 crore during the previous quarter ended June 2015.

ParticularsQuarter Ended
n++Jun. 2016Jun. 2015% Var.
Sales92.6683.3011
OPM %9.8912.74-
PBDT14.5518.68-22
PBT12.0915.01-19
NP9.489.84-4

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Aunde India shifts corporate office
Jul 15,2017

Aunde India announced that the Corporate Office of the Company is being shifted to 63/64, 6th Floor, Wing C, Mittal Court, Nariman Point, Mumbai - 400021 w.e.f 17 July, 2017.

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Bhansali Engineering Polymers standalone net profit rises 110.74% in the June 2017 quarter
Jul 15,2017

Net profit of Bhansali Engineering Polymers rose 110.74% to Rs 16.88 crore in the quarter ended June 2017 as against Rs 8.01 crore during the previous quarter ended June 2016. Sales rose 52.35% to Rs 224.03 crore in the quarter ended June 2017 as against Rs 147.05 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales224.03147.05 52 OPM %13.1810.95 - PBDT29.2414.10 107 PBT27.7212.77 117 NP16.888.01 111

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DCB Bank standalone net profit rises 38.68% in the June 2017 quarter
Jul 15,2017

Net profit of DCB Bank rose 38.68% to Rs 65.22 crore in the quarter ended June 2017 as against Rs 47.03 crore during the previous quarter ended June 2016. Total Operating Income rose 20.28% to Rs 566.04 crore in the quarter ended June 2017 as against Rs 470.62 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Total Operating Income566.04470.62 20 OPM %61.4964.95 - PBDT100.9172.20 40 PBT100.9172.20 40 NP65.2247.03 39

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Karnataka Bank standalone net profit rises 10.13% in the June 2017 quarter
Jul 15,2017

Net profit of Karnataka Bank rose 10.13% to Rs 133.85 crore in the quarter ended June 2017 as against Rs 121.54 crore during the previous quarter ended June 2016. Total Operating Income rose 5.55% to Rs 1330.54 crore in the quarter ended June 2017 as against Rs 1260.60 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Total Operating Income1330.541260.60 6 OPM %60.0967.20 - PBDT110.82125.61 -12 PBT110.82125.61 -12 NP133.85121.54 10

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GRUH Finance standalone net profit rises 20.04% in the June 2017 quarter
Jul 15,2017

Net profit of GRUH Finance rose 20.04% to Rs 72.24 crore in the quarter ended June 2017 as against Rs 60.18 crore during the previous quarter ended June 2016. Sales rose 14.95% to Rs 398.12 crore in the quarter ended June 2017 as against Rs 346.34 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales398.12346.34 15 OPM %86.7790.78 - PBDT108.9890.30 21 PBT108.3289.56 21 NP72.2460.18 20

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Choice International standalone net profit rises 642.86% in the June 2017 quarter
Jul 15,2017

Net profit of Choice International rose 642.86% to Rs 0.52 crore in the quarter ended June 2017 as against Rs 0.07 crore during the previous quarter ended June 2016. Sales rose 75.87% to Rs 5.03 crore in the quarter ended June 2017 as against Rs 2.86 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales5.032.86 76 OPM %47.1246.85 - PBDT0.930.38 145 PBT0.750.09 733 NP0.520.07 643

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Choice International consolidated net profit declines 27.88% in the June 2017 quarter
Jul 15,2017

Net profit of Choice International declined 27.88% to Rs 0.75 crore in the quarter ended June 2017 as against Rs 1.04 crore during the previous quarter ended June 2016. Sales declined 23.77% to Rs 27.67 crore in the quarter ended June 2017 as against Rs 36.30 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales27.6736.30 -24 OPM %21.0717.16 - PBDT2.472.50 -1 PBT1.821.95 -7 NP0.751.04 -28

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Provisions related to registration under GST regime
Jul 15,2017

As per the GST laws, one is required to take registration on or before 30thJuly, 2017. All traders are requested to register now without waiting for the last date.

If one is carrying-out any business and have an Annual Aggregate turnover in the preceding Financial Year exceeding Rs. 20 lakh (Rs. 10 lakh in Special Category States), you need to register in all the States/Union Territories from where you are making taxable supplies. However, one need not register if one is engaged exclusively in the supply of exempted goods or services or both. The timelines for applying for registration are as follows:-

Registered under any of the existing law

Migrated

Liable for registration in GST regime

Provisional Ids issued need to be converted to GSTIN by submitting necessary documents in 3 months (i.e. by 22nd September 2017)

Not liable for registration in GST regime

Need to apply for cancellation in 30 days (i.e. by 22ndJuly, 2017)

Not-Migrated

Liable for registration in GST regime

Need to apply for registration within 30 days (i.e. by 22ndJuly, 2017)

Not registered under any of existing law

Liable for registration in GST regime

Become liable from 01/07/2017

Need to apply for registration within 30 days (i.e. by 30thJuly, 2017)

Become liable after 01/07/2017

Need to apply for registration within 30 days from becoming liable for registration

Taking registration in GST is a very simple process, and the comfort of the taxpayer has been kept in mind while designing the procedure. You can take registration from the comfort of your home by filing an online application on the common portal https://www.gst.gov.in/. All one need is a valid PAN, email id and a mobile number. Once these 3 details are verified, one will be required to furnish other details relating to his/her business. There is no need to submit any physical documents (unless a query is raised and documents asked for) and all necessary documents can be scanned and uploaded. If there are no queries, one will receive his/her registration online within 3 working days from submission of online application.          

Its simple. But what will happen if one doesnt get registered?

More than anything, getting registered is for ones own benefit. If one is liable to take registration but dont get registered, one will not be able to enjoy the benefit of input tax credit. Not only he/she, but any registered person, purchasing from him/her may not be able to get the input tax credit. Not obtaining registration, though liable to do so, would also attract penalty.

Getting registered would lead to growth in ones business. Prospective buyers, who are registered under GST, will prefer to buy from suppliers who are also registered under GST, as this would entitle them to the input tax credit. This also means that one is contributing his bit towards nation building, by ensuring that appropriate taxes are collected and paid to the Government. Therefore, traders are requested to register under GST immediately without wasting any more time.

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DCB Bank director resigns
Jul 15,2017

DCB Bank announced that the Board of Directors of the Bank, in its meeting held on 15 July 2017 has taken on record the resignation of Keki Elavia from the directorship of the Bank, as requested by him.

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Liberty Shoes announces resignation of director
Jul 15,2017

Liberty Shoes announced the resignation of Vivek Bansal as Non- Executive Independent Director of the company w.e.f. 15 July 2017.

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Margin Scheme under GST for dealers in second hand goods in general and for dealers in old and used empty bottles in particular
Jul 15,2017

Doubts have been raised regarding the applicability of the Margin Scheme under GST for dealers in second hand goods in general and for dealers in old and used empty bottles in particular.

Rule 32(5) of the Central Goods and Services Tax (CGST) Rules, 2017 provides that where a taxable supply is provided by a person dealing in buying and selling of second hand goods i.e., used goods as such or after such minor processing which does not change the nature of the goods and where no input tax credit has been availed on the purchase of such goods, the value of supply shall be the difference between the selling price and the purchase price and where the value of such supply is negative, it shall be ignored. This is known as the margin scheme.

Further, notification No.10/2017-Central Tax (Rate), dated 28.06.2017 exempts Central Tax leviable on intra-State supplies of second hand goods received by a registered person, dealing in buying and selling of second hand goods [who pays the central tax on the value of outward supply of such second hand goods as determined under sub-rule (5)] from any supplier, who is not registered. This has been done to avoid double taxation on the outward supplies made by such registered person, since such person operating under the Margin Scheme cannot avail input tax credit on the purchase of second hand goods.

Thus, Margin Scheme can be availed of by any registered person dealing in buying and selling of second hand goods [including old and used empty bottles] and who satisfies the conditions as laid down in Rule 32(5) of the Central Goods and Services Tax Rules, 2017.

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Jindal Stainless appoints director
Jul 15,2017

Jindal Stainless has appointed Bhaswati Mukherjee (DIN: 07173244) as an Additional Director (Independent) on the Board of the Company with effect from 15 July, 2017.

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Punjab & Sind Bank announces cessation of director
Jul 15,2017

Punjab & Sind Bank announced that terms of Government of India, Ministry of Finance, Department of Financial Services Notification dated 14 July 2017 Mukesh Kumar Jain, ED has demitted the charge of Executive Director upon appointment as MD & CEO of Oriental Bank of Commerce.

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Indian Hume Pipe Company gets revision in ratings for bank facilities
Jul 15,2017

Indian Hume Pipe Company has received revision in credit ratings from CARE for bank facilities availed by the Company as under -

Long term bank facilities (Rs 623.13 crore) - CARE A+; Stable (Reaffirmed)
Short term bank facilities (Rs 1105 crore) - CARE A1+ (Reaffirmed)

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Linc Pen & Plastics commences commercial production at Umbergaon facility
Jul 15,2017

Linc Pen & Plastics announced that the commercial production of new manufacturing facility at Umbergaon, Gujarat has commenced from 15 July 2017.

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