Tuesday, Jul 29, 2014

Shruti Srivastava

Senior Correspondent

Centre expects consensus with states on GST soon, Bill likely in Winter Session
Mon, Jul 28, 2014

The BilL needs to be passed by a majority of two-thirds in both Houses and by the legislatures in half of the 29 states.

Citing food security, subsidy, India calls to block WTO pact
Sat, Jul 26, 2014

It will now be difficult for the developed nations to push their agenda of implementing the TFA.

UP follows Rajasthan, begins work on labour reform
Thu, Jul 24, 2014

Uttar Pradesh had 6.59 crore people employed in FY10, mostly in the agriculture sector, as per Planning Commission data.

Customs, excise mop-up rises on better factory output, imports
Wed, Jul 23, 2014

The government has budgeted Rs 6,24,902 crore from indirect taxes this year.

S&P set to review India’s sovereign rating next month
Tue, Jul 22, 2014

The agency will be meeting finance ministry officials on August 12.

‘Taken measures to bring buoyancy in economy’
Fri, Jul 18, 2014

Shaktikanta Das lists the reasons for his confidence on economic revival and meeting the revenue targets.

Online retailers work out unique deals to broad-base market
Fri, Jul 18, 2014

Groupon India is offering a cash-back offer on rail fares, something never done before

GST stuck, ministers’ panel plans seventh study trip abroad
Thu, Jul 17, 2014

State finance ministers’ panel set to go to China, Russia next month.

Recover R42K crore from arrears: CBDT to commissioners
Tue, Jul 15, 2014

Tiwari said that the department will also discuss measures to collect the arrears and meet the current year’s target.

To check evaders, Budget gives more power to taxmen
Tue, Jul 15, 2014

The income tax department also plans to enhance monetary fines against taxpayers who do not comply with its orders with rigorous imprisonment

City sees surge in acting institutes
Mon, Jul 14, 2014

These academies certify the students by providing a regular course for a period of six months to a year.

Budget gives service tax evaders provision to clear dues
Mon, Jul 14, 2014

Prior to the amendment, an interest rate of 13 per cent was charged for the delay in depositing the service tax.

CBEC chief says she was not consulted by finance ministry on GST
Mon, Jul 14, 2014

GST aims to replace almost all the indirect taxes in the country with a single tax.

Govt prunes negative list, more services under tax bracket
Sat, Jul 12, 2014

Now, companies will be responsible for paying the service tax on the services of independent directors instead of the directors themselves. In a move to plug the leakage of revenue, the Budget 2014-15 has said the service tax payable by independent directors for the services provided to the company will now be paid by “body […]

Manufacturers to pay excise duty on selling price, clarifies CBEC
Sat, Jul 12, 2014

The clarification comes amid a slew of measures announced by FM Arun Jaitley in his maiden Budget.

As govt considers demand for change, relook at CSR unlikely
Wed, Jul 09, 2014

The MCA has already identified 77 issues.

Mobile wake-up calls, WiFi aboard
Wed, Jul 09, 2014

The Indian Express reported earlier that select trains will offer workstations for a payment.

List threats from Chinese FDI, open up where none exist: Commerce Ministry
Mon, Jul 07, 2014

The move will go a long way in narrowing the huge trade deficit India faces with China.

DRI asks FinMin to reduce gold import duty
Tue, Jul 01, 2014

Smuggling up by 600% in terms of amount confiscated, with 2,700 seizures worth Rs693 cr in FY14.

Badal calls for more trade routes with Pakistan
Mon, Jun 30, 2014

Badal’s letter comes at a time when Sitharaman and her counterpart in Pakistan Khurram Dastgir Khan are likely to meet on the sidelines of the SAARC summit next month

US companies ask for higher FDI cap in defence, insurance
Fri, Jun 27, 2014

The meetings are significant because segments of Indian domestic industry have said the government should only allow a 49 per cent stake for foreign investors in defence production.

Swiss government on course to share tax-related details with India
Tue, Jun 24, 2014

Arun Jaitley said he will write to the Swiss finance minister for information on tax evaders.

Govt says no to CAs on both audit, management panels of banks
Mon, Jun 23, 2014

Under the Section, the Centre has to nominate one director who has been a CA for not less than 15 years.

Centre to tweak MSME definition to bring more firms in fold; help businesses scale up
Sat, Jun 21, 2014

A change has been proposed in the investment threshold on machinery doubling it to R20 crore.

Blacklisted, Cyprus now wants ‘only clean money’
Mon, Jun 16, 2014

The fallout of the move was higher disclosure requirements, application of transfer pricing provisions and high withholding of tax of 30 per cent in India.

Excise duty relief for auto sector likely to be retained
Thu, Jun 12, 2014

Automobile industry, as per Siam, contributes 25 per cent to the manufacturing GDP and comprises 18 per cent of the total excise collection.

Improve biz climate for FDI: Sitharaman to states
Wed, Jun 11, 2014

This is the same report that was dismissed by ex-commerce and industry minister Anand Sharma as a private study done by Accenture.

Govt mulls higher deduction on health policy this Budget
Mon, Jun 09, 2014

The government may introduce a scheme on the lines of the additional deduction of Rs 20,000 given for investment in long-term infrastructure bonds in Budget 2010-11.

Cyprus to be off tax blacklist only if agreement reached on DTAA revamp
Thu, Jun 05, 2014

India’s stance comes even as the Mediterranean nation has begun sharing information.

Semi-column: What biz chambers should not ask the FM
Tue, Jun 03, 2014

This includes asking for continuing with the fiscal stimulus, which if accepted will stymie the movement towards a goods and services tax.

Coming soon: A new-look, simpler, slimmer Economic Survey
Mon, Jun 02, 2014

The official said that the survey would be much smaller than last year’s, which had around 300 pages with around 150 for the appendix.

Corporate affairs ministry flags CSR review for new minister
Sat, May 31, 2014

Sitharaman also met Serious Fraud Investigation Office officials to discuss ongoing investigations.

Jaitley to meet state finance ministers in June to push GST
Fri, May 30, 2014

With limited resources, the finance ministry is also keen for banks to consider raising about Rs 8,000 crore of capital on their own and is discussing these options with the Reserve Bank of India.

Modi’s effective governance hinges on IT backbone
Mon, May 26, 2014

There are indications that the Modi government would merge existing ministries in complementary areas to remove anomalies and to deliver effective governance.

Labour ministry to examine laws with a focus on MSMEs
Mon, May 26, 2014

The committee would also discuss issues ranging from multiplicity and complexities of labour laws.

SEZs back in the game, tax sops proposed
Fri, May 23, 2014

Last year, the ministry came out with a revamped SEZ policy, but got little interest from developers due to the lack of fiscal incentives.