The GST Council had given the option to real estate companies to either opt for old rates of 12% (for residential) and 8 per cent (affordable housing) with ITC benefits or the new tax rates of 5% for residential units and 1% for affordable housing without the benefit of adjusting the credit on inputs used during construction.
In a major blow to Nirav Modi, a bankruptcy court in the US has rejected a petition of the fugitive diamond merchant and two of his associates, seeking dismissal of fraud allegations against them by the trustee of three companies they previously owned indirectly.
Across 10 prominent services, revenue to the government reduced by 20 per cent in the first year of GST compared to the last year of the service tax regime. This happened despite tax liability against these services growing by 50 per cent in one year.
'I still can't process that he is gone. It feels like a bad dream.'
Urban Company, the home services firm, announced a 12-point programme on Thursday to improve partner earnings and livelihood for all partners on its platform in India. The announcement comes after most women partners on the platform staged a protest last Friday, demanding better layouts and safer working conditions. Among the provisions in the 12-point programme are reduction of highest commissions in the beauty category, in which most of Urban Company's female partners work.
Star shuttler HS Prannoy on Saturday questioned the criteria for Arjuna Award selection, saying knowing people who can push a nomination is more important than performances on court.
More than 60 small and medium enterprises (SMEs) are expected to tap the market in one year to raise equity funds for supporting their business requirements, a BSE top official said on Wednesday. These companies will get listed on the exchange's SME platform, Ajay Thakur, head of BSE SME and Startup told PTI. Last year, only 16 SMEs had tapped the initial public offering (IPO) route and raised Rs 100 crore.
The government will investigate every Indian name appearing in an unprecedented leak of financial records, known as the 'Pandora Papers', which alleged that many world leaders have secret offshore stores of wealth.
Conformity assessment procedures will be put in place to verify that goods and services sold on e-commerce platforms meet required standards and technical regulations, according to the draft e-commerce policy. The policy, which is under discussion, also stated that actions and things which cannot be done by the online platform entities "can also not be done" by any of its associates and related parties. Government may, from time to time, notify parties which fall in the definition of associates and related parties, it said.
A vast majority of borrowers are in the essential services' supply chain with tiny and micro businesses, and this has sprung back.
To promote cashless transactions, the government had waived the Merchant Discount Rate on fuel purchase post demonetisation for consumers. But after the expiry of the 50-day window, the banks have decided to levy MDR on petrol pump owners.
'I have wanted to act since I was seven. I wasn't confident enough.' 'I thought I didn't have the face, the body and the figure because back then, it was all about the body.' 'Now, the industry is changing.' 'People are noticing talent.' 'It has become more than someone just having a good body.'
'These naval sailors should have been given due respect as freedom fighters.' 'February 18, 1946 should be as important as January 26 because that date changed everything.'
December 2022 could be the last Christmas for Santha Bakery, a business drawing its lineage from the first Christmas cake baked in Kerala.
The Securities and Exchange Board of India's move directing asset management companies (AMCs) to invest more in their new fund offerings (NFOs) could force the industry to go slow on new product launches. At present, AMCs have to invest one per cent of the amount raised during a NFO or Rs 50 lakh, whichever is less.
Congratulatory messages pour in for badminton superstar PV Sindhu on winning her second Olympic medal on Sunday.
There are, however, a few aspects to factor in before considering G-Secs as an investment option, advises Bindisha Sarang.
Joginder Tuteja looks at winning actor-director jodis, who have made Rs 100 crore movies and are returning for an encore.
The 2020 international calendar concluded with the three tournaments in the Asia leg which was conducted in Bangkok in successive weeks.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
Shifting to floating rate deposits can work as an anaesthetic gel for some customers, points out Tamal Bandyopadhyay.
In a short span of time, with the help of Amazon, Cloudtail was able to devise a model that could protect it from the vagaries of online retail business.
Sebi had also ordered the fund house to compensate investors who had redeemed their units since the date of allotment of shares in the I-Sec IPO.
'Today, he has lived up to everyone's expectations and made India proud'
The ultimate consequences of Rahul Gandhi's yatra may be known only in 2024, points out Dr Sudhir Bisht.
The yellow metal now trades at a 0.5 per cent premium over its landed cost, compared to a 4 per cent discount in mid-September because jewellers have voluntarily withdrawn the display of cash price from their website.
The current slowdown has lasted for over 18 months and is the longest incident of sluggishness since 2006.
Joginder Tuteja lists those who are expected to score big with their Bollywood debuts in the months to come.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
Kerala floods take a toll on small businesses, NBFCs brace for losses
Experts said the rate hike would improve working capital position of the manufactures as it would correct the inverted duty structure but may lead to increase in price of the finished goods.
Use a "virtual credit card" for every online transaction when you can't pay cash on delivery.
Without making any direct reference to the three new farm reform laws or to the three-month-old agitation by farmers, Modi said there is a need for expanding options for the country's farming community to sell agri produce.
In its letter Voda Idea has warned that it is not in a sound financial state, and added that it would be in a position to meet its liabilities only if the government initiates steps including allowing set-offs for GST credit accumulated so far, and permitting staggered mechanism for payment of balance amount of interest, penalty, and interest on penalty.
Public sector banks may have to bear a burden of Rs 1,800-2,000 crore arising due to a recent Supreme Court judgement on the waiver of compound interest on all loan accounts which opted for moratorium during March-August 2020, sources said. The judgement covers loans above Rs 2 crore as loans below this got blanket interest on interest waiver in November last year. Compound interest support scheme for loan moratorium cost the government Rs 5,500 crore during 2020-21 and the scheme covered all borrowers including the prompt one who did not avail moratorium.
ISRO chief's comments came after NASA said that it had found the remains of the Vikram lander by its Lunar Reconnaissance Orbiter and credited the discovery to Chennai-based amateur astronomer and engineer Shanmuga Subramanium.
Some jewellers kept their shops shut in Mumbai as well.
Moody's said the government will face challenges in achieving its deficit target for the fiscal year ending March 2021, amid persistent structural and cyclical headwinds to growth.
'As his close associate Som Pal told me, "Mandal was never V P Singh's brainchild. It was a Janata Party commitment he inherited".' 'He would have done it anyway at some point, but the specific timing of his decision was dictated entirely by political exigency -- his government was threatened.' 'It also turned out to be a game changer in Indian politics.'
If you default, it will affect your credit score and your career.
