January 31, 2019 has been fixed as the deadline for settlement of claims from Kharif in 2017, said the official who was participating in a seminar on ‘Sustainable agriculture insurance’ organised by GIC Re.
The Council also announced quarterly return-filing for businesses with an annual turnover threshold of upto Rs 5 crore, a move that will benefit 93 per cent of the registered GST taxpayers.
The Indian Express had reported on July 6 about the sharp downward revision in the EPFO net enrolment numbers, which were the basis for an ‘independent’ study released earlier this year that the government had cited as an indicator of buoyancy in formal job creation.
Finance Minister Piyush Goyal will chair the meeting of the Goods and Services Tax Council, his first time since taking charge of this portfolio.
The increase in the wholesale price index (WPI) based inflation in June can be primarily attributed to the rise in prices of vegetables and fuel items, raising chances of rate hike by the RBI in its monetary policy review next month.
The IMF on Monday forecast a growth rate of 7.3 per cent in 2018 and 7.5 per cent in 2019 for India, which was down by 0.1 per cent and 0.3 per cent respectively than its April projections.
In 2017, India became the sixth largest economy with a GDP of $2.59 trillion, pushing France to the seventh position, the data showed.
The company said its operating margins were at 23.7 per cent, at the upper quartile of the guidance. Large deal wins crossed $1 billion, of which over 40 per cent was from the financial services.
The industrial production growth was down to a seven-month low of 3.2 per cent in May as a result of the slow performance of the manufacturing and power sectors.
At 5 per cent, the inflation rate based on consumer price index (combined) has breached the Reserve Bank of India's inflation rate projection of 4.8-4.9 per cent for April-September.
States’ consolidated gross fiscal deficit (GFD) overshot the budget estimates in 2017-18 due to shortfalls in own tax revenues and higher revenue expenditure. it said.
According to details of a confidential joint UK-India Trade Review released to ‘Greenpeace Unearthed', it would appear that India would be among the countries unlikely to reap many post-Brexit benefits.
The retail inflation was 4.87 per cent in May while in June last year it was 1.46 per cent. The last time it reached a high of more than 5 per cent was in January when it touched 5.17%.
The country's economy grew at a seven-quarter high of 7.7 per cent in the three months ended March 2018, helped by higher government spending and investment.
The ministerial panel, headed by Assam Finance Minister Himanta Biswa Sarma, has recommended reducing GST rate on ethanol from 18 per cent to 12 per cent.
Subramanian said implementation of GST, Insolvency and Bankruptcy Code (IBC) and effective public provisioning of private goods such as toilets and banks accounts have been key achievements of the government.
The GST Council had, in its meeting in January 2018, decided to slash the GST rate on 54 services and 29 items.
Some political parties have been demanding that the Centre must do away with the four-slab GST rate structure and make it more simplified. The Congress, on the other hand, promised to reduce it to one slab if voted to power in 2019.
As per the proposed amendments, employers will be able claim input tax credit on facilities like food, transport and insurance provided to employees under any law.
The panel decided to wait for stabilisation of revenues under goods and services tax (GST) and the new return filing systems in the current fiscal before considering differential GST rates for people making digital payments.