Mankind Pharma Ltd on Wednesday said it has been imposed a GST related penalty of over Rs 2 crore by tax authority in Kolkata over alleged mismatch in figures for the period of FY18 to FY22. The company has received an order on January 14, 2025 from Office of the Commissioner of Kolkata South CGST & CX -- issued by Additional Commissioner, Mankind Pharma said in a regulatory filing.
In order to reduce government litigations, the Union Finance Minister Nirmala Sitharaman on Saturday said the GST Council has fixed a monetary limit for filing appeals by the tax department before the various appellate authorities. It has recommended a monetary limit of Rs 20 lakh for GST Appellate Tribunal, Rs 1 crore for the High Court and Rs 2 crore for the Supreme Court for filing of appeals by the department before these legal forums, she said after the 53rd GST Council meeting held in New Delhi.
Between 2016-17 and 2021-22, the last year for which the data is available, seven national parties and 24 regional parties received a total donation of Rs 9,188.35 crore through electoral bonds.
Do not shop around for loans immediately after getting a secured credit card. Such loan enquiries can also pull down credit score, as they are treated as a sign of credit-hungry behaviour.
Sebi on Tuesday sent a notice to 7 entities, including Malvinder and Shivinder Mohan Singh, asking them to pay Rs 48.15 crore within 15 days in a fund diversion case of Religare Finvest. Sebi also warned of attachment of assets and bank accounts, if they fail to make the payment. The notice came after the entities failed to pay the fine imposed on them by the Securities and Exchange Board of India (Sebi).
Axis Bank has strengthened its positioning -- on both the assets and liability side -- and it may be set to deliver sustained improvement in performance. The valuation gap between Axis Bank (which trades at 1.4x core book value (or BV) and peers like ICICI Bank (valued at 2x BV) is expected to narrow.
Vishvapradhan Commercial Private Ltd, a little-known entity through which the Adani Group has launched a hostile bid for NDTV Ltd, had an annual turnover of just Rs 60,000 few years back but it gave Rs 400 crore of interest-free loans to the broadcaster in 2009, as per Sebi orders.
The government has notified a host of procedural changes in the GST rules, including levy of interest for wrongful utilisation of ITC and turnover threshold for filing annual returns for the 2021-22 fiscal. The changes were vetted by the Goods and Services Tax (GST) Council at its meeting last week. With the amendments notified by the Central Board of Indirect Taxes and Customs (CBIC), businesses have also been allowed to make tax payments on the GSTN portal by using IMPS and UPI payment modes.
Donations from corporates to the national parties increased by 109 per cent between FY 2017-18 and 2018-19, said an analysis by the Association for Democratic Reforms (ADR), an NGO working for bringing in transparency in electoral politics.
The CAG has pulled up the union government for adopting an erroneous process of devolution of IGST to states and short-transfer of cesses to reserve funds, which resulted in under-reporting of deficit figures for the 2017-18 and 2018-19 fiscals. The Integrated Goods and Services Tax (IGST), which is levied on inter-state sale of goods and services, is shared between the Centre and states in the 50:50 ratio. In its report on the union government accounts tabled in Parliament, the Comptroller and Auditor General of India (CAG) found that a sum of Rs 13,944 crore was left unapportioned and retained in the Consolidated Fund of India (CFI) in 2018-19, even though the amended IGST Act now provides for a process for ad-hoc apportionment of IGST.
The RBI refuses to classify a cryptocurrency as an asset since it doesn't have future cash flow and its value is always fluctuating because of speculation. There is also no consumer protection, observes Tamal Bandyopadhyay, and hence the e-rupee trial run.
When the world was upended by the Covid-19 pandemic, metals got its shine back. In the last two years, infrastructure spending by major economies spurred demand, energy transition and intermittent supply disruptions fuelled a scorching rally in metals after a downturn during the first Covid wave. Now, Russia's war on Ukraine is ensuring that elevated prices stay the course.
The Budget, to be presented on February 1, is likely to be less worried about fiscal deficit and will be focused more on nursing the fragile growth, according to a Wall Street brokerage report. Bank of America Securities India expects the budget to peg "fiscal deficit at a high 5 per cent of GDP for FY22 and 7.2 per cent for FY21, as it is likely to step up capex, recap public sector banks, push asset sales to break government monopolies, offer sops for real estate, tax cuts for lower income groups and creation of a bad bank". Its house economists expect these spends to be funded by debt and partly by imposing a cess on high income groups and also by some non-fiscal measures like tapping the central bank's revaluation reserves and bank recapitalisation and infra bonds.
As per ITC's 'Report and Accounts 2019' filed at bourses, Puri's remuneration includes a basic salary of Rs 1.44 crore along with perks of Rs 40 lakh and performance bonus of Rs 4.32 crore.
Ravi Singhal, vice chairman, GCL Securities Private Limited, explains why there is no need to worry as stock market indices gain higher levels.
Fitch had last upgraded India's sovereign rating from BB+ to BBB- with a stable outlook on August 1, 2006.
Total revenue dropped by 10.5 per cent to Rs 19,634 crore in the fourth quarter of 2017-18
Japanese auto major Suzuki Motor Corporation (SMC) on Wednesday said its long-serving chairman Osamu Suzuki will retire and assume the role of senior advisor subject to shareholders' approval in the ordinary general meeting to be held in June this year.
"Our strategic investments, backed by strong client relationships and client spends towards enterprise modernisation and digital transformation have enabled us to deliver a very satisfying quarter," Wipro CEO and executive director Abidali Z Neemuchwala said.
As much as Rs 6,696 crore has been released to the states as GST compensation for the month of March 2018, as on May 29.
Fiscal deficit planned to reduce to 4.8 per cent in FY2014, subsidy bill remains elevated. Proposes to reduce fiscal deficit to 3%, the revenue deficit to 1.5 per cent and the effective revenue deficit to zero by FY2017.
... if high oil prices persist or stock prices correct sharply.
March was the first full quarter for Infosys under its new CEO Salil Parekh.
Deloitte had challenged the jurisdiction of the NCLT to ban it, saying section 140(5) of the Companies Act pertains to auditors who are still auditing the company in question while it has already resigned from the service and thus cannot be banned under the given provisions.
At an average national price of Rs 90 a kg in the retail market, it shows a jump by 20% in the last two months.
There were reports that Infosys had laid off 500 people in the aftermath of losing its multi-million pound deal with the Royal Bank of Scotland.
The S&P BSE Sensex ended 80 points up at 23,789 while the Nifty50 closed at 7,235, up 24 points.
Sales during the quarter under review stood at Rs 9,357 crore, up 12.42 per cent, as against Rs 8,323 crore in the corresponding period of the last fiscal
India's growth rate is expected to improve to 7 per cent by FY 2017, while inflation and current account deficit are likely to moderate in the coming years, a Citigroup report said.
In spite of Budget's rural focus, the government has consistently stumbled in agriculture, says Shreekant Sambrani.
They believe that the key reason behind such a high growth rate could be "a steep downward revision" of the year-ago base period.
Even as the World Bank has revised India's growth figures by 0.4 percentage points as compared to its January forecast, India remains the fastest growing major economy in the world, the World Bank officials said.
A slowdown in India's growth rate, the bank said, has also affected the growth rate of South Asia. As a result, South Asia has fallen to second place after East Asia and the Pacific.
The number of people who file tax returns has also increased by about 65 per cent during this period from 3.31 crore in FY 2013-14 to 5.44 crore in 2017-18 fiscal, the CBDT said in the statement.
A reading above 50 indicates expansion, while a score below this mark means contraction
Irrespective of the recent performance of Datsun, Nissan is ready to put more resources behind it.
Vanita Kohli-Khandekar reports on the ongoing battle for the top spot between publishers S Chand and Navneet.
In the last policy review in December, RBI had decided to keep policy rate unchanged.
Marriott-Starwood, Carlson Rezidor and others are winning the tug-of-war for customers with local hotel chains as they add new properties at a breakneck speed.
Use of the incorrect form will result in your return being treated as defective, points out Suresh Surana, founder, RSM India.
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