CBDT seeks stakeholders' views for modifying advance ruling forms

Comments to be sent by 30 April 2018

by Natasha Nadkar

The CBDT has invited stakeholders’ comments on draft notification proposing amendment to rule 44E, form 34C, 34D and 34 DA (forms for advance rulings) as per Base Erosion and Profit Shifting (BEPS) Action 5 objectives. The comments and suggestions have to be sent by 30 April 2018. The tax department will modify the forms for advance ruling in order to bring greater transparency in cross national transactions. Under BEPS Action 5, exchange of permanent establishment (PE) rulings (by Authority for Advance Rulings) are required to be done not only with the countries of residence of all related parties with whom taxpayer enters into transaction, but also with the country of residence of the immediate parent company and the ultimate parent company [see here].

References
1. https://www.thehindubusinessline.com/economy/policy/cbdt-seeks-stakeholders-views-for-modifying-advance-ruling-forms-for-cross-border-deals/article23539856.ece
CMIE STATISTICS
Unemployment Rate
Per cent
5.4 -0.0
Consumer Sentiments Index
Base September-December 2015
95.6 0.0
Consumer Expectations Index
Base September-December 2015
95.7 -0.3
Current Economic Conditions Index
Base September-December 2015
95.5 +0.5
Quarterly CapeEx Aggregates
(Rs.trillion) Sep 17 Dec 17 Mar 18 Jun 18
New projects 1.25 1.49 3.60 2.27
Completed projects 1.25 1.15 1.42 0.82
Stalled projects 0.69 0.88 3.41 0.30
Revived projects 0.34 0.22 0.26 0.22
Implementation stalled projects 0.78 0.71 1.92 0.03
Updated on: 17 Jul 2018 8:20PM
Quarterly Financials of Listed Companies
(% change) Sep 17 Dec 17 Mar 18 Jun 18
All listed Companies
 Income 7.9 12.0 10.2 18.1
 Expenses 9.0 13.0 17.0 21.4
 Net profit -18.0 -14.3 -81.9 8.4
 PAT margin (%) 5.5 4.8 1.2 17.4
 Count of Cos. 4,501 4,491 4,283 45
Non-financial Companies
 Income 8.2 13.3 11.8 18.5
 Expenses 8.1 12.3 12.7 22.7
 Net profit -6.1 13.2 -2.5 6.7
 PAT margin (%) 6.2 6.4 6.5 18.1
 Net fixed assets 9.2 11.9
 Current assets 2.9 8.0
 Current liabilities 11.0 10.3
 Borrowings 3.4 1.8
 Reserves & surplus 7.9 7.8
 Count of Cos. 3,460 3,463 3,315 32
Numbers are net of P&E
Updated on: 17 Jul 2018 8:21PM
Annual Financials of All Companies
(% change) FY15 FY16 FY17 FY18
All Companies
 Income 5.6 1.8 5.8 12.3
 Expenses 5.7 1.9 5.8 17.9
 Net profit 0.1 -9.3 26.2 -51.0
 PAT margin (%) 3.0 2.8 3.5 3.6
 Assets 9.5 10.2 7.3 14.1
 Net worth 8.5 11.3 7.0 11.0
 RONW (%) 5.8 4.9 5.9 4.8
 Count of Cos. 26,056 24,316 21,815 218
Non-financial Companies
 Income 4.8 1.0 5.7 9.8
 Expenses 5.0 0.3 5.9 9.3
 Net profit -8.5 20.4 21.4 11.9
 PAT margin (%) 2.0 2.5 3.0 13.4
 Net fixed assets 13.3 17.4 6.5 21.2
 Net worth 7.0 12.0 5.7 5.3
 RONW (%) 4.6 5.2 6.1 17.7
 Debt / Equity (times) 1.1 1.1 1.0 0.2
 Interest cover (times) 1.9 1.9 2.1 16.0
 Net working capital cycle (days) 66 65 62 -12
 Count of Cos. 21,269 20,387 18,246 150
Numbers are net of P&E
Updated on: 04 Jul 2018 4:50PM