At its 22nd meeting which went on for nearly nine hours, the Council, allowed the small firms to their returns quarterly and also made it easier for exporters to claim tax refund. It also reduced the tax rate on over two dozen goods and services categories
Excise duty on petrol, diesel cut by Rs 2: Excise duty on petrol and diesel was Rs 9.48 and Rs 3.56 a litre respectively before the NDA government took office, which has gone up to Rs 21.48 and Rs 17.33 a litre, respectively, an increase of 226 per cent and 486 per cent, respectively, over the May 2014 level.
Experts say the market saw sell-off on account of weak global cues due to geopolitical tensions surrounding North Korea, recent revision of China’s sovereign rating and is expected to bounce back as fundamentals are strong.
The ministry said that no official had sought meeting in their "personal capacity" with the MPC members prior to the June review of the monetary. However, a meeting was sought to exchange views on macroeconomic situation in the country, it said in the reply.
Slow processing, popping up of incorrect data in the error report and portal's inability to take a large amount of data in GSTR-1 in one go are some of the issues still being faced by those filing returns
Amending rules related to acquisition, utilising surplus land of sick PSUs for affordable housing and relaxing FSI are some of
the suggestions made by the govt think-tank to push development across the country
Among the companies that filed for voluntary liquidation are — Wadia BSN India Ltd, HSBC Global Shared Services (India) Pvt Ltd, IL&FS Capital Advisors, Khel Gaon Estates Pvt Ltd and Ujjivan Social Services Foundation.
In the event of liquidation following a failed resolution of a real estate company, while the secured lenders or the banks will have recourse to the under-construction property that may be mortgaged to them, the people who have taken a home loan will be among the last to any receive compensation from the leftover liquidation proceeds.
The total bad debt involved in the case is worth Rs 972.15 crore — comprising Millennium Finance’s claim of Rs 673.91 crore, Alchemist Asset Reconstruction Company’s Rs 122.06 crore, Synergies Castings’ Rs 89.26 crore and Edelweiss ARC’s Rs 86.92 crore.
Bank of Baroda is the lead bank of the consortium comprising Oriental Bank of Commerce and Bank of Maharashtra as the other lenders, which signed a term loan agreement with Amrapali Silicon City on 25 February 2012.
Countries like Canada, Mauritius, Israel and the European Union have been expecting India to take the lead and conclude the negotiations for their respective Free Trade Agreement (FTA) as soon as possible.
Demonetisation: On digital transactions, too, RBI data shows that the volume of electronic payments, after peaking in December 2016 at 957.50 million transactions compared with 671.49 million in November, has been on a decline.
As the new vice-chairman Rajiv Kumar prepares to assume the office from Friday, Panagariya tells The Indian Express that instead of advising Kumar, he would brief his successor about the state of the institution letting him set his own priorities for the think-tank’s functioning.
Niti Aayog also suggests reforms in the Right to Education Act as well as the University Grants Commission, and a comprehensive & continuous evaluation system to bring in improvement in learning outcomes
Entities face issues such as difficulty in coding items in HSN codes, need for filing service tax returns for each state of operation and likely challenges in matching of invoices under the new indirect tax regime.
Doklam standoff: The investment exposure of Chinese companies in India over the last 17 years, which remains limited to a cumulative FDI inflow of $1.63 billion (Rs 10,094 crore) as on July 31, 2017, shows a notable rise in Chinese business interest over the last three years.
Higher focus on capital-intensive and high-skilled sectors in India has led to fast growth only in segments such as automobile and telecom which do not employ low-skilled workers; as a result of this, vast majority of workers remain concentrated in agriculture and unorganised sectors
Government data show that while the value of attached properties is Rs 813 crore, those attached in Kolkata region alone accounted for Rs 477 crore or more than 58 per cent of the value of benami properties under provisional attachment.
While Gujarat comes on top in terms of providing placement through exchanges, it isn’t the top state when it comes to the number of job-seekers. That’s Tamil Nadu with more than 80 lakh registrations with employment exchanges in first nine months of 2015, as against Gujarat which had only 6.88 lakh registrations.