CBIC issues standard statements for field formations

Move to help formations file counter responses in courts

by Nidhi Bhati

The Central Board of Indirect Taxes and Customs (CBIC) has issued standard statements which can be used by field formations as counter responses from the government’s side in legal cases. The set of statements includes the policy wing’s or the government’s stand on several issues related to transitional credit and non-filing of prescribed forms, along with detailed references to arguments made by the government and decisions taken by courts, in different cases.

References
1. https://economictimes.indiatimes.com/news/economy/policy/cbic-issues-standard-statements-for-field-formations-to-counter-legal-cases/articleshow/76688325.cms
CMIE STATISTICS
Unemployment Rate (30-DAY MVG. AVG.)
Per cent
7.1 -1.9
Consumer Sentiments Index
Base September-December 2015
53.7 -0.3
Consumer Expectations Index
Base September-December 2015
55.4 -0.5
Current Economic Conditions Index
Base September-December 2015
51.1 0.0
Quarterly CapEx Aggregates
(Rs.trillion) Mar 20 Jun 20 Sep 20 Dec 20
New projects 3.80 0.83 1.05 0.86
Completed projects 1.77 0.25 0.72 0.58
Stalled projects 0.73 0.11 0.08 0.30
Revived projects 0.42 0.68 0.36 0.09
Implementation stalled projects 10.18 0.09 0.07 0.12
Updated on: 23 Jan 2021 8:28PM
Quarterly Financials of Listed Companies
(% change) Mar 20 Jun 20 Sep 20 Dec 20
All listed Companies
 Income -5.0 -27.6 -6.2 1.4
 Expenses -1.9 -27.9 -10.1 -8.5
 Net profit -48.9 -40.3 45.3 185.3
 PAT margin (%) 2.3 5.3 8.3 16.7
 Count of Cos. 4,358 4,351 4,316 257
Non-financial Companies
 Income -9.0 -37.4 -10.4 -0.7
 Expenses -4.9 -37.6 -14.0 -4.0
 Net profit -50.1 -55.8 29.9 39.2
 PAT margin (%) 3.2 4.5 8.0 17.2
 Net fixed assets 13.3 5.9
 Current assets 3.6 0.8
 Current liabilities 6.2 -2.8
 Borrowings 15.8 8.1
 Reserves & surplus 1.3 4.5
 Count of Cos. 3,244 3,241 3,222 185
Numbers are net of P&E
Updated on: 23 Jan 2021 8:28PM
Annual Financials of All Companies
(% change) FY18 FY19 FY20
All Companies
 Income 8.4 13.5 0.3
 Expenses 9.9 13.8 0.5
 Net profit -41.4 18.5 -11.8
 PAT margin (%) 1.9 2.2 3.8
 Assets 10.9 9.5 9.3
 Net worth 7.4 8.5 4.7
 RONW (%) 3.4 4.0 5.5
 Count of Cos. 29,431 28,732 9,883
Non-financial Companies
 Income 8.6 14.1 -2.6
 Expenses 8.8 14.3 -1.8
 Net profit -10.1 22.6 -24.0
 PAT margin (%) 2.7 3.0 3.9
 Net fixed assets 7.2 5.5 12.4
 Net worth 6.0 8.2 1.7
 RONW (%) 5.6 6.6 6.8
 Debt / Equity (times) 1.0 1.0 0.8
 Interest cover (times) 2.1 2.3 2.6
 Net working capital cycle (days) 77 70 59
 Count of Cos. 23,809 23,199 7,312
Numbers are net of P&E
Updated on: 20 Jan 2021 2:19PM