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ECONOMY NEWS - Page 204
GDP to recover in Q2 as fundamentals strong, says Ravi Shankar Prasad
October 7, 2017 18:54 IST
Since the macro fundamentals of the economy are very strong, growth will definitely recover going forward, Union Minister Ravi Shankar Prasad who heads the IT and law and justice ministries, said.
Canada holds huge potential for Indian exporters: ATSC
October 7, 2017 16:32 IST
There is a huge potential in Canada for apparel and textiles sector, ATSC Director John Banker said in a statement.
Post-GST, tax collection in Goa drops 22%
October 7, 2017 12:36 IST
State Commercial Taxes Department, which keeps a record of tax collection, said the drop is not expected to continue in the future.
GST rule changes: 12 things to know
October 7, 2017 11:14 IST
The decision to reduce the compliance burden of small companies and traders, comes just two days after Prime Minister Narendra Modi address regarding concerns over implementation of GST.
Full list of items for which GST has been reduced
October 7, 2017 12:43 IST
The GST Council Meeting on Friday decided to make changes in the GST rates of certain goods. Here are the items on which GST has been reduced
GST relief for small firms, rates cut for many groupsSubscriber Only
October 7, 2017 12:43 IST
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
Amid post-GST sluggishness, festive season brings upbeat moodSubscriber Only
October 7, 2017 01:36 IST
Though July, August and September figures are not encouraging, realtors say that lower property prices & interest rates, availability of ready-to-move-in options and incentives by developers are some of the positives to boost sales this festive season
Delhi: IGST needs to be scrapped, says Manish SisodiaSubscriber Only
October 7, 2017 01:35 IST
For a state like Delhi, which relies heavily on imports of essentials, the IGST has been a constant problem, a finance ministry official claimed.
GST Council meeting: List of items that will get cheaper
October 6, 2017 22:52 IST
Arun Jaitley said the Council also decided to cut GST rate on 27 commonly used items. This comes three months after the rollout of the new indirect tax regime.
GST rates on 27 items reduced: Top announcements made by Arun Jaitley
October 6, 2017 22:49 IST
Arun Jaitley at the GST Council meeting said, "Businesses with turnover of up to Rs 1.5 crore will be allowed to file quarterly returns as against monthly filings." here are the top developments.
GST rates on 27 items reduced, threshold for composition scheme raised to Rs 1 crore: Arun Jaitley
October 7, 2017 08:11 IST
The new indirect tax regime had put extra burden on small business owners and traders, and therefore, the council decided to provide taxpayers the option of availing the so-called Composition Scheme given their turnover stands at less than Rs 1 crore. The previous limit was Rs 75 lakh.
Loan growth, digitisation still unfinished agenda: Arundhati Bhattacharya
October 6, 2017 20:31 IST
"Now, it has got delayed a little because the scope of the project has widened as we have gone along. That obviously is an unfinished agenda, but it does not matter because we have progressed hugely," Arundhati Bhattacharya said.
Note ban, GST will take some time to show results: Hero Motocrop chairman Sunil Kant Munjal
October 6, 2017 16:40 IST
Hero Enterprises Chairman Sunil Kant Munjal said though demonetisation was a "fantastic idea", its implementation could have been taken up differently. "The most vulnerable suffered the most. But the benefits have already started showing up," he added.
GST Council meet: Threshold for composition scheme hiked from Rs 75 lakh to Rs 1 crore
October 6, 2017 19:45 IST
The government has also revoked GST notification on gems and jewellery. A separate notification will be issued separately after due consideration, according to ANI.
GST Council has done some work on rates to ease pain: Revenue Secretary Hasmukh AdhiaSubscriber Only
October 6, 2017 07:51 IST
Rationalisation has to be done for sure. Finance minister has said that we will wait for revenue trends to emerge, but some rationalisation is required, said Hasmukh Adhia.
Working on policy measures to boost factory output: Suresh Prabhu
October 6, 2017 01:30 IST
Prabhu said the proposed new industrial policy is being firmed up, factoring in the fast pace of change in the profile as well as the process of manufacturing in India.
RBI should help govt revive stalled projects, says Piyush Goyal
October 5, 2017 22:30 IST
With demonetisation and implementation of GST slowing down the economic growth to three-year low, the Asia's third biggest economy is looking at measures to create jobs.
India’s economic slowdown an aberration: World Bank
October 5, 2017 21:57 IST
India's GDP grew 5.7 per cent on a year-on-year basis during the April-June period (Q1). During the previous quarter (January-March) the GDP had grown by 6.1 per cent. The GDP growth rate for the same quarter last year was 7.9 per cent.
GST Council meet tomorrow; exporters may get some relief
October 5, 2017 18:56 IST
The committee, set up under Revenue Secretary Hasmukh Adhia on issues faced by exporters, is likely to submit its preliminary report to the Council on Friday.
GSTN glitches: GoM meets Infosys officialsSubscriber Only
October 5, 2017 03:11 IST
The chairman of the GoM said that though summary returns for outward supplies had been filed by 52 lakh dealers for July, only 33.43 lakh dealers had filed detailed GST returns for the month ahead of the October 10 deadline for the filing of the returns.
For benchmark rate, RBI panel shortlists three instruments
October 5, 2017 06:04 IST
The RBI Study Group on the benchmark submitted its report on September 25, 2017.
Inflation set to pick up in H2FY18: RBI
October 5, 2017 06:44 IST
Retail inflation measured by year-on-year change in the consumer price index edged up sequentially in July and August to reach a five month high.
Reforms initiated under PM Narendra Modi’s watch incomplete: Manmohan SinghSubscriber Only
October 5, 2017 10:01 IST
Speaking at an event at the Dr BR Ambedkar School of Economics (BASE), Bengaluru, former prime minister Manmohan Singh said that fresh efforts are needed since the Planning Commission, designed to ensure growth and equality, has been abolished.
Red flags: Slowing private investment, credit growth, job cutsSubscriber Only
October 5, 2017 09:18 IST
As on July 21, outstanding gross bank credit fell by 2.7% to Rs 69.45 lakh crore.
After note ban, cash intensity has gone down: PM Narendra Modi at ICSI event
October 5, 2017 06:44 IST
Cash to GDP ratio has come to 9%, it stood at 12% before note ban, Modi said.
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