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ECONOMY NEWS - Page 203
Inflation drops to 3.28 per cent after five month increase, industrial production rises to 4.3 per cent
October 12, 2017 19:52 IST
Preliminary data released by the Central Statistics Office on Thursday showed India's consumer price inflation numbers to have remained steady in September while industrial production rose favourably.
Why the government wants to include real estate in GST
October 12, 2017 16:10 IST
Here are the reasons why Finance Minister Arun Jaitley personally believes real estate should be brought under GST
Direct tax collection up 16% from last year, growth in advance tax down
October 12, 2017 07:35 IST
The provisional figures of direct tax up to September 2017 show that net collections stood at Rs 3.86 lakh crore which is 15.8 per cent higher than last year.
Skill development: CCEA approves two World Bank-backed schemesSubscriber Only
October 12, 2017 01:50 IST
Skills Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP) is a Rs 4,455-crore centrally sponsored scheme, including Rs 3,300 crore loan support from World Bank.
GSTR-1: Over 46 lakh taxpayers file final sales GST returns for July
October 12, 2017 01:35 IST
More than 33 crore invoices were filed and processed by GST system..,” the GSTN release said.
World Bank, IMF downsize India’s growth projection: Jaitley stands by demonetisation, GST
October 11, 2017 17:15 IST
International financial institutions like World Bank, IMF and more have attributed India’s economic slowdown, at least partly, due to milestone economic events like demonetisation and rollout of the Goods and Services Tax (GST).
‘Cash disruption’ and GST uncertainties affected India’s economic momentum: World Bank
October 11, 2017 11:17 IST
Evidence suggests that post-GST manufacturing and services contracted sharply, it said adding that however, activity is expected to stabilise within a quarter – maintaining the annual GDP growth at 7.0 per cent in 2018.
Rupee jumps 10 paise to 65.18 against dollar
October 11, 2017 10:32 IST
The rupee looked good, taking support from a higher opening in domestic stocks. The dollar's falling fortune against currencies overseas was also instrumental in the rupee moving to a higher plane.
Stressed companies to delay investment recovery by 2-3 yrs: India Ratings
October 11, 2017 01:38 IST
The banking sector’s total stressed assets are expected to increase to 13-15 per cent of total loans by end March 2018.
On demonetisation, GST: IMF slashes India growth forecast to 6.7% for FY18
October 11, 2017 01:30 IST
The RBI this month raised its inflation target to 4.2-4.6 per cent for the second half of this fiscal from 4-4.5 per cent announced earlier
India’s transition to GST fairly smooth despite attempts to derail it: Arun Jaitley
October 10, 2017 22:25 IST
Arun Jaitley said under the GST the government has unveiled attractive schemes to ensure that the non-compliant in India become compliant.
IMF lowers India’s growth forecast over demonetisation, GST
October 10, 2017 20:19 IST
"In India, growth momentum slowed, reflecting the lingering impact of the authorities’ currency exchange initiative as well as uncertainty related to the midyear introduction of the country-wide Goods and Services Tax," the IMF said.
Economy may grow at 6.5% for 2017-18, says former RBI governor C Rangarajan
October 10, 2017 19:32 IST
The country's GDP growth rate was pegged at 5.7 per cent for the quarter ended June 30.
Arun Jaitley at US-India Business Council: India has capacity to implement bold economic decisions
October 10, 2017 13:59 IST
Arun Jaitley was addressing a New York audience at an event organised by US-India Business Council in partnership with the Confederation of India Industries.
100 Days into New Indirect Tax Regime: After initial difficulties, improvements pushing GST for promising turnSubscriber Only
October 10, 2017 00:30 IST
The last GST Council meeting saw some far-reaching measures focused largely on SMEs and exporters.
RBI surveys show general economy in ‘pessimistic zone’, jobs big worrySubscriber Only
October 9, 2017 07:56 IST
Employment prospects have been the biggest cause of worry for respondents, with sentiment plunging further into the pessimistic zone; the outlook on employment has also weakened in the last two rounds.
Q2FY18 earnings: Rising costs likely to hurt profitsSubscriber Only
October 9, 2017 00:19 IST
Sectors such as IT and pharma are expected to turn in very ordinary numbers; tech firms are fighting for market share amidst a global slowdown while drug firms are grappling with regulatory issues.
GoM set up under Assam FM Himanta Biswa Sarma to review composition scheme
October 8, 2017 19:45 IST
The GoM, constituted by the GST council headed by Union FM Arun Jaitley will examine whether the AC restaurants pass on the benefit of cost reduction under GST to consumers and if they are not, whether they should be disallowed input tax credit claims.
Exporters’ pending GST refunds to be cleared in 2 months: Hasmukh Adhia
October 8, 2017 15:10 IST
The government will clear pending GST refunds of exporters by November-end and over the next six months no tax will be levied on exports as the Council has decided to revert to the pre-GST era, Revenue Secretary Hasmukh Adhia said. Over July-August, an estimated Rs 67,000 crore has accumulated as the Integrated GST (IGST), of […]
Unhappy with new GST measures: Surat textile tradersSubscriber Only
October 8, 2017 07:38 IST
After the GST Council meeting, the government had announced that traders whose annual turnover is below Rs 1.5 crore will now have to file returns quarterly, instead of monthly.
GST at 28% ‘unnecessarily high’: CBEC chiefSubscriber Only
October 8, 2017 01:03 IST
In the next meeting, the council could take up a proposal to allow the services sector to choose the composition scheme, which allows paying tax at a small percentage of the turnover without scrutiny.
Changes made to GST regime will strengthen economy: Balkrishna
October 7, 2017 22:04 IST
"The steps taken by GST Council yesterday following Prime Minister Narendra Modi's initiative have made the new tax regime's dream come true. These measures will strengthen the economy," Balkrishna told reporters.
This is why Raghuram Rajan is in list of probable Nobel Prize winners in economics
October 9, 2017 09:50 IST
According to Clarivate, Raghuram Rajan is considered a candidate for his "contributions illuminating the dimensions of decisions in corporate finance".
Input credit collected from traders under GST to be deposited into account in a fortnight; Ananth Kumar
October 7, 2017 21:15 IST
"Input credit that was collected till now will be calculated on October 10 and 18. After a fortnight, the amount will be credited into the account of traders.This will enhance liquidity in the country. The economy will improve," Ananth Kumar said.
GST Council to continue rationalising rates: Shiv Pratap Shukla
October 7, 2017 20:24 IST
The Goods and Services Tax (GST) has a four-tier structure of 5, 12, 18 and 28 per cent. While majority of common use items have been exempted from GST, 28 per cent tax is levied on luxury, demerit and 'sin goods'.
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