From filing 37 returns a year when the Goods and Sales Tax was first introduced in July last year, the process has undergone major changes as the GST Council considered and implemented various models to ease the pain for assessees. Here's a recap of how the process has changed in 10 months.
The payroll estimates, released by the EPFO based on its enrolment, threw up some contrasting trend between September 2017 and February 2018.
After taking action against 226,000 shell companies last year, the ministry of corporate affairs has now zeroed in on a fresh batch of suspected shell companies.
Govt reconstitutes body, says will not interfere in senior PSB appointments
The system has gone through three rounds of testing for its load-bearing capacity.
Businesses are still taking time to adjust in the new tax regime, which would weigh on growth rates for the financial year closing today.
'There is a law that prevents the government from diluting its equity in the PSBs below 50 per cent.' 'That law has to be amended and given the parliamentary arithmetic of the political parties, it is not as simple to do that.'
With certain quarters demanding privatisation of public sector banks in the aftermath of the alleged fraud at Punjab National Bank (PNB), Economic Advisory Council to the Prime Minister chairman Bibek Debroy tells Sanjeeb Mukherjee, Ishan Bakshi and Indivjal Dhasmana that reducing government equity even to zero would not mean giving up of government control over these banks.
Upgradation to the new product (from Infosys) will stabilise by this month-end
Even as the government's move to hike import duties on 45 items is seen as a sign of protectionism, the prime minister was himself involved in the process.
If an equity share is purchased before January 31, 2018, at Rs 100 and the highest price quoted on January 31, 2018, in respect of this share is Rs 120, there will be no tax on the gain of Rs 20.
The existing double taxation avoidance agreements will not be covered by the proposed change, implying that in order to tax Facebook, Google and the like, India will require to renegotiate tax treaties.
"Growth is expected to moderate gradually in China... pick up in India, and remain broadly stable in the Asean-5 region."
'If you consider only demonetisation and GST as my government's work, it will be a big injustice to me.'
7 million jobs will be created in formal sector in FY18
On the basis of Budget projections, the Centre needs Rs 7.3 trillion revenue during December-March and its expenditure must be limited to Rs 6.7 trillion.
With recent rate cuts, November collections could be even less
A panel will draft direct tax legislation, keeping in mind the system in other countries, international best practices and economic needs of the country
Panel formed to simplify return-filing process, take feedback from stakeholders, experts
'There were lots of functionalities the Group of Ministers asked us to incorporate.'
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