Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: empanelment :: TDS :: VAT RATES :: list of goods taxed at 4% :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: cpt :: VAT Audit :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company
 
 
Service Tax »
 Simple tax made complex
 Govt may review monthly GST return filing process
 Central Goods and Services Tax (Eleventh Amendment) Rules, 2017
 Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 120A of the Central Goods and Service Tax Rules, 2017
 Composition Scheme - the Central Goods and Services Tax (Removal of Difficulties) Order, 2017
 Govt asks taxpayers to file GST return for July by Tuesday
 FAQ On Government Services Under GST
 Income Tax Appellate Tribunal, Visakhapatnam Bench List Of Division Bench Cases Posted Before During The Period From 03rd Octombar To 13th October , 2017.
 Facility of LUT extended to all exporters / registered persons subject to conditions
 GST implementation – Hasty turns out nasty
 What is Goods and Services Tax Network (GSTN)?

AI to seek norms waiver from RBI
July, 05th 2011

Bleeding national carrier Air India is planning to approach the Reserve Bank of India (RBI) for a special waiver of its provisioning norms. AI has defaulted on payment of service tax and interest on working capital, and owes around Rs 48,000 crore in loans and payments to vendors.

Its loans would become non-performing assets (NPAs) as per RBI provisioning norms, if the interest liability or the repayment of loan is not made by July-end.

Documents accessed by Hindustan Times reveal that the airline will approach RBI once the business plan prepared by SBI Caps is cleared by lenders.

The airline would also approach the finance ministry for a suitable commitment on equity support as well as comfort letter which the lenders may seek.

Banks have already stopped lending to AI and in the event of a default government guarantees would be triggered affecting the credibility of the sovereign. The cross default clause would also apply thereby invoking the guarantee under various aircraft loans.

If AI's loans become NPAs, banks may sell off the assets that it had pledged to secure loans and freeze its accounts, which would bring operations to a halt.

The restructuring is likely to bring an interest relief of Rs 600 crore by way of reduction in interest cost on working capital as well as ease the liquidity position. Refinancing of certain long term loans would provide interest relief of Rs 280 crore.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Mission

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions