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Income tax raids Pune-based builder; seizes Rs 10 Cr cashI-T - No TDS on roaming charges paid to other telecom operators: ITATCBIC notifies Customs exchange rates for import and export purposesFire breaks out in Serum Institute’s premises located in Pune SEZNon-constitution of GSTAT - Bench is unable to understand as to how the present petition would be maintainable as it does not seek any specific relief: HCWork being undertaken by Appellant is predominantly used for the main activity of govt. entity i.e. transmission (sale) of electricity, therefore, not eligible for GST @12% - AAR order upheld: AAARGST - Provisional attachment u/s 83 of cash credit account maintained with Bank is not sustainable in law: HCGST - Assessees being compelled to fill up form DRC-03 - Department is expected to proceed in accordance with law - Bench takes a very serious view - no coercive steps: HCST - For entertaining WP in the wake of alternate remedy, petitioner has to demonstrate that the order impugned was passed in defiance of fundamental principles of judicial procedure or in utter violation of principles of natural justice: HCIndia adds over 15,000 new cases as vaccination drive continuesFlipkart's 7.8 per cent acquisition of Aditya Birla Fashion and Retail gets CCI nodGST - Section 50 of Act - Period before amendment - Interest only on the net cash tax liability, as clarified by Press Release and CBIC Instruction: HCUnion Budget in zoonotic shadow of COVID-19 - Whether Wintry or Hot-wired?ST - O-i-O passed without granting personal hearing to assessee - matter remanded for fresh hearing within 3 months' time: HCI-T - A common order of approval cannot be passed by JCIT for passing assessment order for non-abated assessments u/s 153A for different assessment years : ITATGrow bags are correctly classifiable under CSH 3923 2990 and attract GST @18%: AARDistinct person - Transfer to branches located outside the State - Value to be adopted is in terms of rule 28 r/w s.15 of the Act, 2017: AARContention that DGGSTI investigation is 'generic' is not sustainable as the same is relating to 'class of products' supplied to Indian Railways - Application rejected: AARGST - Drilling of Bore wells in agricultural land is not 'Support Service for agriculture'; not entitled for exemption: AARGST - Compressor is not an agricultural machinery - Letting out the same is not a Support service for agriculture so as to be held exempted: AARIndia sends COVID-19 vaccine consignment to BangladeshPenalty u/s 271AAb cannot be levied even if there is no search u/s 132: ITATDeduction u/s 54EC & 54F can be granted when transfer of tenancy rights are assessed under head capital gains on grounds that no purchase price was paid for tenancy: ITATThe Uniform Accounting Standard for revenue recognition for ARCs recognize upside income if a non-charitable trust suffers shortfall of recovery over purchase consideration: ITATCX - If dutiable goods are not accompanied by proper invoices, onus lies on Revenue to determine who procured such goods & from where - Penalty u/r 26 of CER 2002 is unsustainable if imposed without any such investigation: CESTATCus - Import under EPCG license - DGFT issued EODC after raising duty demand for non fulfilment of export obligation - case remanded for re-consideration: CESTAT
 
FPI inflows stood at Rs 62,782 Crore for Nov month

By TIOL News Service

NEW DELHI, DEC 01, 2020: THE Indian growth story continues to expand as is demonstrated by the trends in FPI, FDI and Corporate Bond Market flows that indicate and underline the beliefs of investors in the strength and resilience of Indian economy.

  • Foreign Portfolio Investment

The last two months, i.e October and November 2020, have witnessed a significant resurgence in FPI inflows driven primarily by equity inflows resulting in the highest ever FPI inflows for a month for India. As of 28th November 2020, FPI inflows stood at Rs 62,782 crore. Of this, equity inflows amounted to Rs 60,358 crore while FPI net investment in debt and hybrid was to the tune of Rs 2,424 crore.

Regarding the equities segment, the inflows in November 2020 is the highest amount of money invested ever since FPI data has been made available by the National Securities Depository Ltd.

FPI flows are known to be less resilient and more sensitive to changing market conditions. Investment through the FPI route are therefore gauged through the metric of net inflow and outflow. In October and November 2020, FPIs primarily witnessed inflows into India.

There has been a secular trend of positive net flows in the equity segment in November without any reversal till date. The highest inflow in total FPI investment was witnessed on 12th November, marking a single day peak of Rs 11,056 crore.

Source: NSDL, *-as of 28th November, 2020

  • Foreign Direct Investment

Total Foreign Direct Investments (FDI) inflows into India during the second quarter of financial year 2020-21 (July, 2020 to September, 2020) have been US$ 28,102 million, out of which FDI equity inflows were US$ 23,441 million or Rs. 174,793 crore.This takes the FDI equity inflows during the financial year 2020-21upto September 2020 to US,004 million which is 15% more than the corresponding period of 2019-20. In rupee terms, the FDI Equity inflows of Rs 224,613 crore are 23% more than the last year. August, 2020 has been the significant month when US$ 17,487 Million FDI equity inflows were reported in the country. Both FDI equity inflows and total FDI inflows into India have shown a secular rise over the years, with 2019-20 the year with the highest FDI in the last six years. The measures taken by the government on the fronts of FDI policy reforms, investment facilitation and ease of doing business have resulted in increased FDI inflows into the country.

Total FDI Flows (US$ Million)

Year (Financial)

FDI Equity Inflows

Total FDI Flows

2014-15

29737

45148

2015-16

40001

55559

2016-17

43478

60220

2017-18 (P)

44857

60974

2018-19 (P)

44366

62001

2019-20 (P)

49977

74390

Source: DPIIT

Bond Market

In H1 FY21, the total corporate bond issuances amounted to Rs. 4.43 lakh crore, 25% higher than Rs. 3.54 lakh crore in the same period last year. The narrowing spread with GSecs stands testimony to the improved risk perception of corporate bonds. Further, the cost of funds also moderated for both the Government and the corporate, on the back of RBI's monetary easing and liquidity infusion, thereby bringing down yields in the various segments of the debt markets.


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