• Associate Sponsor

Aanchal Magazine


Number of companies paying tax over Rs 100 crore declines in 2013-14
Thu, Oct 27, 2016

Textiles, handloom and powerloom industries with around 1.77 lakh taxpayers were among the highest number of taxpayers in the manufacturing segment in 2013-14.

Revenue department to start pre-Budget consultations with industry on November 7
Wed, Oct 26, 2016

The industry associations meetings with tax department officials assume greater significance on account of the proposed implementation of GST from April 1, 2017.

GST Council meeting: Additional cess to flow into compensation fund to pay states for revenue losses
Fri, Oct 21, 2016

In case of a higher GST rate, the Centre will have to impose a much higher rate so that it is able to retain the compensation amount even after 42 per cent devolution to states.

Chicken to tea: Many mass items to cost more
Thu, Oct 20, 2016

The Council discussed that GST rate should not be regressive in nature and be such that the existing revenues of the states and the Centre are protected and the impact on CPI inflation is minimal.

Four-tier GST structure proposed: low of 6 per cent to high of 26 per cent, extra on luxury goods
Wed, Oct 19, 2016

The GST Council finalised the compensation formula for states for potential revenue loss, converging at an assumption of 14 per cent revenue growth rate over the base year of 2015-16

Pradhan Mantri Kaushal Vikas Yojana: Renewed push for faster, better results
Tue, Oct 18, 2016

The Centre has made changes in the scheme to improve training and ensure better placement for the beneficiaries, thus trying to make it more efficient.

Advanced Budget date: Absence of a GST rate may present estimation challenges
Wed, Oct 19, 2016

The taxation rate for GST, intended to be rolled out from April 1, 2017, is pivotal in the finalisation of the revamped Budget process for next financial year.

Fiscal deficit target: IDS collection may partially cover for spectrum dent
Sun, Oct 09, 2016

Experts say higher-than-anticipated indirect tax collections might help bridge the shortfall.

Service tax assessment under GST: Technical committee to iron out differences, hold meetings
Wed, Oct 19, 2016

The team will then brief their respective state finance ministers, who are scheduled to gather in the national capital for the third GST Council meeting from October 18-21.

As black money compliance window deadline nears, I-T uses Section 273A to ease disclosures
Thu, Sep 29, 2016

The stock exchanges have subsequently been monitoring scrips for unusual price movements to stop flow of black money into stock markets.

Surveys by I-T department up by over 8 times the daily average
Thu, Sep 29, 2016

A total of 4,422 surveys were conducted by the tax dept in FY16, translating into a daily average of about 12 surveys.

The contentions: Much wrangling before the consensus
Tue, Sep 27, 2016

As the GST Council readies to meet again on Friday, Centre and states will be required to walk the extra mile to sort out issues like list of exemptions, framework for draft rules and industry incentives.

April-July subsidy payout at Rs 1.06L cr; 45.7 per cent of FY17 budgeted expenditure
Wed, Sep 21, 2016

At Rs 1.058 lakh crore for April-July, the government has already reached 45.7 per cent of the total budgeted expenditure for major subsidies of Rs 2.317 lakh crore for the 2016-17 financial year.

Jammu & Kashmir: An economy in turmoil
Tue, Sep 13, 2016

Tepid industrial growth, limited job opportunities, declining local businesses and deferred liability practice in government accounting are impacting the finances of the strife-torn state.

Two countries per Minister to cover 68 where no Minister has gone before
Sat, Sep 10, 2016

Each minister has been allotted a minimum of two countries that they have to visit before the year-end.

Andhra Pradesh gets package but no special status, red faces all around in TDP
Thu, Sep 08, 2016

The announcements will be discussed in the Andhra Pradesh assembly which will hold its last session in Hyderabad from Thursday, mainly to ratify the goods and services tax (GST) Bill.

G20 meet: What role does the Sherpa play in the negotiations?
Tue, Sep 06, 2016

Who is this negotiator at international Summits such as the ongoing G20 meeting at Hangzhou? What role does the Sherpa play in the negotiations?

Bharat Bandh: Minimum wage, what it is, how it is fixed
Fri, Sep 02, 2016

Central trade unions have called a nationwide strike today to protest the government’s announcement of a hike in minimum wages for workers. Why are they angry?

Odisha nod to pave GST for Presidential assent
Thu, Sep 01, 2016

On September 1, Odisha is likely to become the sixteenth state to clear the constitutional amendment before it heads for Presidential assent.

Goods and services tax-18 per cent or above: States, Centre wrangle over ‘potential losses’
Tue, Aug 30, 2016

If the current VAT rates across states is anything to go by, a possible move by the GST Council to peg the standard GST rate at around 18% could translate into at least nine states potentially losing out revenues.

Gross income of taxpayers only a fourth of GNI in FY12
Sat, Aug 20, 2016

The tax returns data, however, does not reflect the number of agricultural income and the informal sector’s daily wage income earners.

Finance Ministry looking at advancing date of Budget presentation
Thu, Aug 18, 2016

Will allow the government to do away with the need of conducting a Vote on Account.

Cap on max rate likely; GST Council to have the final say
Thu, Aug 18, 2016

GST rate won’t exceed max rate; there can be a fair play of rates below that max level.

GST rollout: Govt extends hand to industry, to hear out its ‘concerns’
Sun, Aug 14, 2016

Meeting with industrialists to clear latter’s ‘doubts over stages of taxation and exemptions’

Hasmukh Adhia interview: Centre, states on same page on over 18% GST rate
Sun, Aug 07, 2016

“A lot of consumer awareness will have to be created in order to ensure that the benefit of lower GST is passed on to consumers. There is no proposal to control prices statutorily”

GST Bill: The day after, government hints at rate higher than 18 per cent
Fri, Aug 05, 2016

On bringing next Bills as money Bills, Jaitley says my hands tied by Art 110

GST Bill: What next? Step by step, until the rollout
Thu, Aug 04, 2016

GST Bill is now slated to head back to Lok Sabha for the ratification of amendments moved in the Upper House, followed by the next crucial step — a ratification of the Bill by a minimum of 15 states in their respective assemblies.

GST bill: Kerala, Bengal raise fresh sticking points as Arun Jaitley ‘assures discussion’
Thu, Aug 04, 2016

GST Bill: Red flag over the decision to stop short of explicitly providing for “full” compensation to states

How Governor Raghuram Rajan had his way on venue for RBI interviews
Wed, Jul 27, 2016

Two sources close to the development told The Indian Express that it was at Rajan’s insistence that the interviews were conducted in Mumbai, the traditional venue.

MGNREGA to get fresh fund boost, govt nod likely for MoRD’s demand
Sat, Jul 23, 2016

The finance ministry, which had allotted Rs 38,500 crore in its 2016-17 Budget for the scheme, is set to concede to much of the Ministry of Rural Development’s (MoRD) demand for another Rs 15,000 crore.

Cargo clearances: Tech interventions to anchor efficient movement
Wed, Jul 20, 2016

Government agencies in collaboration with private players are introducing new technologies to counter bottlenecks in free, fast as well as safe movement of cargo at domestic ports.

GST to help track evasion of CVD
Wed, Jul 20, 2016

The CVD is presently not integrated with the sale price and importers usually indulge in under-invoicing to evade tax.

Focus on reforms more crucial than chasing certain growth number, says Raghuram Rajan
Mon, Jul 18, 2016

The RBI Governor, who will return to academia after his term ends in September, talks about economic policies and expansions in an interview

Raghuram Rajan: Should focus on structural reforms, not get fixated with growth numbers
Mon, Jul 18, 2016

RBI Governor Raghuram Rajan on India's growth, need for reforms, and the challenges ahead.

Interview With ILO Director-General: India’s success vital for End of Poverty initiative to succeed
Tue, Jul 12, 2016

ILO Director-General Guy Ryder, who was on a five-day visit to India, predicts that despite the government redoubling its manufacturing push, the sector in India is unlikely to end up on the lines of the Chinese one.

Hinterland thrust and rural schemes major drivers for employment generation: ILO
Mon, Jul 11, 2016

Decline in India’s female labour force participation rate an area of concern.