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
6.0 -0.1
Consumer Sentiments Index
Base September-December 2015
93.3 0.0
Consumer Expectations Index
Base September-December 2015
93.3 -0.3
Current Economic Conditions Index
Base September-December 2015
93.2 +0.5
Quarterly CapeEx Aggregates
(Rs.trillion) Jun 17 Sep 17 Dec 17 Mar 18
New projects 2.33 1.38 1.23 2.16
Completed projects 0.87 1.21 1.02 1.07
Stalled projects 2.67 0.69 0.93 3.34
Revived projects 0.23 0.34 0.23 0.14
Implementation stalled projects 0.73 0.73 0.58 1.05
Updated on: 27 Apr 2018 9:20AM
Quarterly Financials of Listed Companies
(% change) Jun 17 Sep 17 Dec 17 Mar 18
All listed Companies
 Income 9.6 7.9 11.9 9.6
 Expenses 9.9 9.0 12.9 13.1
 Net profit -19.9 -18.1 -13.9 -12.1
 PAT margin (%) 5.3 5.5 4.9 11.2
 Count of Cos. 4,483 4,470 4,433 119
Non-financial Companies
 Income 10.2 8.2 13.2 6.6
 Expenses 10.5 8.2 12.3 7.9
 Net profit -25.1 -6.0 12.7 -1.1
 PAT margin (%) 5.2 6.2 6.4 12.6
 Net fixed assets 9.2 10.1
 Current assets 78.7 6.6
 Current liabilities 11.0 20.8
 Borrowings 10.4 4.3
 Reserves & surplus 5.2 0.2
 Count of Cos. 3,461 3,444 3,430 86
Numbers are net of P&E
Updated on: 27 Apr 2018 9:20AM
Annual Financials of All Companies
(% change) FY15 FY16 FY17 FY18
All Companies
 Income 5.5 1.5 5.1 1.6
 Expenses 5.6 1.7 5.1 0.7
 Net profit 0.0 -10.3 23.7 9.2
 PAT margin (%) 3.1 2.8 3.6 8.3
 Assets 9.5 10.0 6.9 3.3
 Net worth 8.5 11.4 6.0 2.8
 RONW (%) 5.8 4.9 5.9 12.7
 Count of Cos. 25,647 23,668 20,755 19
Non-financial Companies
 Income 4.7 0.6 4.7 1.5
 Expenses 4.9 0.0 5.2 0.6
 Net profit -8.6 18.4 18.0 10.7
 PAT margin (%) 2.0 2.5 3.1 7.4
 Net fixed assets 13.3 17.3 5.4 4.4
 Net worth 6.9 12.0 4.4 2.9
 RONW (%) 4.6 5.1 6.0 11.5
 Debt / Equity (times) 1.1 1.1 1.0 0.2
 Interest cover (times) 1.9 1.9 2.1 11.8
 Net working capital cycle (days) 66 65 62 38
 Count of Cos. 20,897 19,807 17,287 17
Numbers are net of P&E
Updated on: 18 Apr 2018 11:50AM

Time series available from 1990 onwards