After the 2019 election, one thing is sure: GST will see a number of changes, explains Indivjal Dhasmana.
Going by the provisions of the new company law, the responsibility and accountability equation for independent directors has seen a major change.
Experts say, auditors must not allow themselves to be intimidated by the client management into conducting audits by conversation. It is important for auditors to conduct proper interviews and ask probing and searching questions.
However, independent economists are not as gung-ho as the finance ministry over the likelihood of deficit target being met this time around, says Indivjal Dhasmana.
While the farmers are not getting remunerative prices for their produce, at the same time they are forced to pay high prices for items they consume.
Slight recovery in growth is expected only in July-September.
The Centre has projected reining in its fiscal deficit at 3.3 per cent of GDP in FY19.
Any act by a chartered accountant that brings disrepute to the profession, whether or not in the professional domain, is open to disciplinary scrutiny and action.
Industry had sought this 3-month extension, specifically for players struggling to collate the information that are required to be disclosed in the GST forms.
He did not believe in any fiscal puritanism. In 2012, when it was almost certain that the government will breach the 2012-13 fiscal deficit target, he wrote that in abnormal times, abnormal measures are required to get back to normalcy.
The services sector, which plays the biggest role in shaping the economy, is facing loads of issues currently. The largest segments, financial and real estate, are struggling to cope with bad debts and low demand for houses.
September import growth was the second lowest this fiscal year, after the April growth figures of 4.6 per cent, bringing the trade deficit down to $13.98 billion
From a commercial standpoint, reducing the price of each SKU, particularly with a small MRP (Rs 5 or below) is often a challenge, including availability of legal tender below Re 1
She would be the first Indian to be occupying the coveted post at IMF after former RBI governor Raghuram Rajan
'The rupee falling from 69 to 72 was not normal or justified by the fundamentals.' 'And therefore I treat this as temporary.'
Finance ministry tells PM fiscal deficit target will be met, capex expenditure won't be cut and GDP growth will surpass 7.5%.
For most companies this would mean extending medical coverage to same-sex partners, say legal experts.
Direct tax collections grew by a meagre 6.6 per cent during April-July of the current financial year against the Budget target of 14.4 per cent for 2018-19. Corporation taxes, in particular, grew at just 0.57 per cent, the lowest in the first four months in at least seven years.
Steps taken to prevent misuse of the platform have to be balanced with data privacy and security concerns, say experts.
The business would also not be allowed to claim any un-availed input tax credit for "goods lost" or "destroyed".
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