Sec 171 also states that the central government would set up an five-member authority to check whether input tax credits availed by a “registered person”, or reduction in tax rate, have been proportionally passed to the customers of those goods or services.
A week from today, India will have a revolutionary new indirect tax regime that will integrate the country’s $ 2 trillion economy and 1.3 billion consumers into a vast, common market. Veteran taxation policy expert V S Krishnan discussed with P Vaidyathan Iyer what the Goods and Services Tax will do to prices, state revenues, traders who cheat, and a lot else.
The first two digits of the 15-digit GSTIN represent the state code as per the Census of India, 2011. The next 10 digits are the taxpayer’s PAN. The The thirteenth digit is assigned based on the number of registration within a state. The fourteenth digit is Z by default. The last digit is the check sum digit code.
The early onset of the monsoon has been accompanied by a rush of illnesses. On June 2 alone, 11,013 cases of fever were reported; on June 20, this number was 20,300. On June 2, 134 confirmed dengue cases were reported; on June 20, there were 933.
In 2004, over 13 years after its independence from Yugoslavia, the Republic of Macedonia had submitted its application for membership of the EU. The EU accepted the application in 2005, but Greece objected saying Macedonia’s name implied a territorial claim on the northernmost Greek province of the same name.
Extreme heat alters the density of air, making it thinner. Thin air prevents generation of required ‘lift’, and makes it more difficult for aircraft to take off. Thus, as it gets hotter, planes need progressively longer runways and greater engine power to reach the speeds needed to become airborne.
Tiny temperature rise can make mass deaths twice as likely; unchecked emissions can expose 3/4ths of humanity to deadly heatwaves.
The Dalit Koli (Hindu weaver) leader from Kanpur Dehat district used to be close to then Chief Minister Kalyan Singh, who is now Governor of Rajasthan.
On March 14, 1995, Kovind expressed concern over the telecast of eight to 10 films on DD’s national network, and asked if the government was aware that children were wasting most of their time watching films and serials.
One, Kovind, who took over in August 2015, is the first Governor in several years who has chosen not to confront the Chief Minister on any matter whatsoever.
Before that, the BJP had managed to engineer a rebellion by Nitish Kumar’s handpicked Chief Minister Jitan Ram Manjhi, another Dalit, and bring him into the NDA.
Shared language, culture and roots bond Nepal with Darjeeling, now site of a revived Gorkhaland movement driven by language
In Assam, the first large flush of Nepali-speaking persons came in the form of soldiers in the Gorkha Corps when the British annexed Assam in 1826.
Congress leader Pranab Mukherjee had canvassed so effectively for himself within the party in 2012 that there was no stopping him
The first deliveries for the MC-21, developed by Irkut Division of the Russian government-owned United Aircraft Corporation (UAC), are expected in late 2018, or early 2019
The government will first form a Resolution Corporation, which is expected to cover all firms regulated by the RBI, Sebi, IRDA and PFRDA.
As the Kathmandu elite, then led by UML prime minister K P Oli, cosied up to the Chinese during the blockade, India watched uncomfortably.
Ahead of the July 1 rollout of the Goods and Services Tax , Revenue Secretary Hasmukh Adhia explains nuances of the tax regime and why manufacturers and consumers need not worry about prices rising.
The Indian Express explains how RBI defines farm credit, how it’s disbursed and the dangers of writing off loans.
Steep fall in inflation in May driven primarily by easing of prices of pulses and vegetables, and continues a downward trend of the last three years; there’s no certainty about if and when it will climb. The Indian Express explains.
Despite confirmation of three cases last month, Zika may not be a recent introduction to the country. The director of India’s premier virology research laboratory explains to The Indian Express the nature of the public health concern from the mosquito-borne disease.
Fadnavis’s 70:30 formula, with farmers assured of 70% of proceeds, will hit state’s already struggling co-ops, as key infrastructure issues remain unaddressed.
The Indian Express explains the context and background of an alleged corruption scandal in the acquisition of land for the widening of NH 74 in Udham Singh Nagar district.
First adjudication this month, idea is to ensure quicker resolution of debt pile-ups, free up locked capital for fresh lending.
IISc has done consistently well in citations per faculty. It was ranked number 11 in the world in 2017 with a score of 99.9, and number 18 in 2016 with a score of 99.3.
RBI Monetary Policy Review: Request for meeting came in ‘silence’ period, bank wanted to retrieve ground lost after noteban
Lead author discusses diabetes study
Prevalence of diabetes is increasing among urban poor. Managing the disease costs upwards of Rs 40 daily, beyond reach of many
If the polls are proved right in Thursday’s election, we might witness a spectacular political upheaval — a weak coalition government negotiating Brexit with unhelpful EU leaders.
Selling e-cigarettes has attracted a conviction in Punjab, Maharashtra has taken steps towards a ban, and the Centre last month asked experts to assess its dangers
By being proactive on the LoC, the Army seeks to not only prevent infiltration, but to also claim moral ascendancy over Pakistan
No state has the resources to do a one-shot write-off by paying cash to lenders, and a deferred redemption of outstanding loans over a period of 3 to 5 years actually ends up hurting the farmers.
Today’s launch of a geostationary communication satellite, GSAT-19, is perhaps ISRO’s most important mission in the last three decades.
The bulk of the Indian expat community in the Gulf has traditionally been from Kerala. Of the estimated 6.5 lakh Indians now in Qatar, some 3 lakh are from Kerala.
India, Qatar can potentially enjoy a win-win situation with regard to trade, investment. But the crisis involving Saudi poses a complex diplomatic challenge
Sub-par growth and overachievement in meeting inflation targets may put the Reserve Bank under pressure to deliver a more than normal repo rate cut
Wizards, Witches and Quidditch: Harry Potter turns 20