Aanchal Magazine

Some experts feel categorising domestic supplies as zero-rated might be a better option than granting a full exemption, since it will pave the way for availing input tax credit.

The United States will pursue negotiations at WTO to waive intellectual property for Covid-19 vaccines. This can allow large-scale production in middle-income countries, but there are arguments against the move.

A waiver on IP protections would mean pharmaceutical firms and vaccine makers across the world can learn how to make these vaccines without fear of lawsuits from companies that originally developed them.

The April collections, which account for sales in March, mark the seventh month where the monthly GST collections have crossed the Rs 1-lakh-crore mark. GST revenue had dipped to an all-time low of Rs 32,172 crore in April 2020.

In April, India witnessed the highest demand for vaccines in a month with 90.50 million doses administered by 6.30 pm on Friday, more than the monthly production capacities of Covishield and Covaxin combined.

Employment declined in March, marking a year of job losses. The rate of contraction was modest, but the quickest since September 2020.

The government is expected to meet the revised revenue targets. But are there concerns now with the new wave of surge in Covid cases.

West Bengal has been consistently recording high gross and net collections for small savings over the years. The data includes collections of small savings in post offices as well as banks.

Finance Minister Nirmala Sitharaman said Thursday morning that the "orders issued by oversight shall be withdrawn".

High frequency indicators have begun to reflect some moderation due to administrative clampdown in a bunch of districts including Maharashtra and Gujarat.

Each distress story in India’s services sector is unique but all of them face similar questions: The lockdown may have eased but when will demand pick up? What happens with a second Covid wave?

From Gurugram to Srirangapatna, the Covid-19 pandemic and the lockdown-induced economic distress deepened a structural problem that India’s labour market was already witnessing -- participation of women in the workforce.

The Advisory Board is learnt to have flagged the purchase of stainless steel utensils through a tender process by the Maharashtra government, the distribution of umbrellas and lanterns was red-flagged in Himachal Pradesh.

Cases of ‘misuse’ of money from the BOCW Welfare Fund have been flagged by the Central Building & Other Construction Workers’ Advisory Board.

The sharp pickup in inflation is indication that the RBI may need to have another look at its accommodative stance going forward.

On an average, capital expenditure for the current fiscal has taken a hit of over 11 per cent in these states – Bihar, Chhattisgarh, Gujarat, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Rajasthan, Uttar Pradesh, West Bengal and Uttarakhand.

The summons have been sent under Section 70 of CGST Act, which provides powers to tax officers to summon persons to give evidence and produce documents.

The Finance Ministry has been nudging the EPFO to reduce the rate to a sub-8 per cent level in line with the overall interest rate scenario. EPFO rate continues to be the highest among other savings instruments.

A CBT member said discussions on the investment portfolio of the retirement fund body took place and keeping the returns in consideration, the Board made the recommendation for 8.5 per cent interest rate.

The raids elicited a strong response from the Maharashtra state government which called it an attempt by the Centre using agencies to intimidate those who spoke out against the BJP government.

"There have been instances of tax evasion. The movies produced by the production house have been superhit, but the profits and account statements of the company are showing disproportionately low income," an official told The Indian Express.

In a statement, the Finance Ministry said the Q3 numbers were a reflection of the further strengthening of a V-shaped recovery, but warned that India was not yet out of the danger of the pandemic.

“The government will file an appeal against Cairn arbitration award soon and will contest its sovereign rights to tax. It will also strongly contest other suits filed by Cairn Energy at various other international courts,” an official said.

What is the Cairn Energy-Indian government dispute all about? What had the Permanent Court of arbitration court say in its ruling? A recap of the case, and judgment