Crude oil hit an all time high in rupee terms; Tuesday figures expected to be higher
The total revenue earned by central government and state governments after regular settlement in December was Rs 43,851 crore for CGST and Rs 46,252 crore for SGST.
A panel will draft direct tax legislation, keeping in mind the system in other countries, international best practices and economic needs of the country
The Union Budget 2021-22 has made it easier for sovereign wealth funds and pension funds to invest in Indian infrastructure projects, but some of the new rules may need more clarity, experts said. The proposed regime requiring investments through holding companies may have adverse tax implications for such funds and may create an arbitrage between the new and old projects, they said. Besides, the ownership structure of holding companies through which investments are to be made requires further clarification, they added.
Rationalisation of rates will be taken up for smaller items that do not have major revenue implications but are commonly consumed at the GST Council meet on Saturday
Companies in India might be rushing in to tap the e-shopping market, but a lot has to be done to encourage consumer and see more transactions, said the Deloitte's State of the Media Democracy Survey -- India 2012.
Sitharaman further said that to mitigate genuine difficulties of start-ups and their investors, government has decided to withdraw angel tax provisions for them.
KPMG's global board will meet in India next week
There has been an exponential increase in the use of technology to validate financial numbers, with a greater reliance on electronic evidence, use of live videos where possible, data analytics, and project management software to overcome the physical limitations in verifying transactions and accounts.
Additional solicitor-general says extra-neutral alcohol liable to new tax
The government has reached out to investors to apprise them about Life Insurance Corporation of India's (LIC's) growth and prospects as it prepares for the country's largest initial public offering (IPO). Preliminary presentations have been made to inform investors on how the organisation is being restructured ahead of the IPO, along with its financials, so that the IPO process can be hastened once its embedded value is derived. "A detailed presentation has been made to investors, giving them details on how LIC is positioned beyond what is known. "This includes how LIC is being restructured ahead of the IPO, and investors are keen to know that," said an official. In the Finance Bill, 2021, the government had proposed a slew of changes to the LIC Act, 1956.
After contracting for two quarters in a row, the Indian economy entered the positive territory with a growth of 0.4 per cent in the October-December quarter, mainly due to good performance by farm, services and construction sectors, official data showed on Friday. Trade and hotel industry registered a contraction of 7.7 per cent during the third quarter this fiscal, as the sectors continued to suffer on account of coronavirus pandemic. According to the data released by the National Statistical Office (NSO), the farm sector recorded a growth of 3.9 per cent, and the manufacturing sector output grew by 1.6 per cent in the quarter under review.
Despite a steady collection rate, the government faces a steep Budget target of Rs 6.1 trillion for CGST for 2019-20.
With India gearing up to host the Commonwealth Games next year, hoteliers in the country are rushing to make the most of the likely spurt in tourist traffic, leading to a boom in development, global consultancy firm Deloitte has said.
The bourse's valuations may get a boost, as it gets set for its OFS of about Rs 10,000 crore.
Reserve Bank of India Governor Shaktikanta Das on Friday said the central bank will ensure adequate liquidity in the system to ease the financial stress caused by the Covid-19 pandemic. The central bank reduced the reverse repo rate -- the rate at which banks park their fund with the central bank -- by 25 basis points to 3.75 per cent.
From auto, refrigerator, and mobile handset makers to real estate firms, companies are tying up with banks to dole out attractive finance schemes and discounts to make buying more affordable.
More people using the internet for financial and e-commerce transactions has led to job creation in a niche segment. Specialists who can help deal with rising technology (tech) frauds are in high demand amid the surge in electronic transactions during the pandemic. Demand for tech fraud experts has risen upwards of 35 per cent, reveals employment and human resource services company TeamLease Services.
There's no place like home, but even for the affluent buying one in India is difficult. On top of that, the coronavirus pandemic-now in its eighteenth month-has made life uncertain. A hopeful thing is buying a house looks alluring as loan interest rates fall below 7 per cent, their multi-decadal lows. The slow decline in GDP growth after demonetisation, followed by the economic shock caused by Covid-19 waves, has hurt us unevenly.
'If a stranger refuses to pet my Russian dog, what treatment can I expect for myself?'
Finance Minister Nirmala Sitharama on Thursday stated the government is planning to provide a relief package of Rs 1.7 lakh crore to the underprivileged, poor and migrant workers affected by the lockdown amid the coronavirus outbreak. The scheme has been named the Pradhan Mantri Garib Kalyan Scheme.
Issues related to human resource have become a priority for India Inc.
The airline has an annual wage bill of Rs 3,100 crore (Rs 31 billion) and the report has said as many as 2,600 employees will retire during the period of freeze.
Kasam Shaikh is the fifth person in India and first from Maharashtra to receive the award for Microsoft Most Valuable Professional title in Artificial Intelligence.
Franklin Templeton Mutual Fund, which has closed six debt schemes, has said the winding-up process will be delayed in the absence of authorisation from investors and further steps will be possible only after seeking fresh approval from them. It further said that investors who do not have an e-mail ID or mobile number registered with the fund house will not be able to participate in the voting process. The date on which the voting would start has not been disclosed yet.
The old guard of Board of Control for Cricket in India continued to show defiance to the Supreme Court-appointed Committee of Administrators (COA) with only six state units filing their responses to "Due Diligence Report' prepared by Deloitte on the functioning of these associations.
This demand is over and above the Rs 1,200 crore.
Radisson hotels and resorts, which are managed by Carlson Hotels Asia Pacific, have been chosen as the "best franchise brand in India' by the Galilelo and Express group.
Total indigenous production between 2011 and 2015 would need to expand from about $30 billion to more than $70 billion.
With the rupee slipping to nearly Rs 70 per dollar on Tuesday, most parents with children in the US will feel the pinch
The internals of the food inflation are worrying, given a broad-based uptick across categories that tend to be sticky, such as proteins, and a narrower-than-expected reduction in inflation for vegetables.
Nandan Nilekani said one board member had received two anonymous complaints on September 30, 2019 - one dated September 20, 2019, titled 'Disturbing unethical practices' and an undated note with the title, 'Whistleblower Complaint'.
All-rounders in Indian cricket are a rare commodity and the newest entrant to the club, Venkatesh Iyer, knows only too well that he has to keep his focus on both aspects of the game in order to remain relevant.
Industry experts on Friday called upon the new BJP-led NDA government to focus on attracting investments in key sectors, especially the infra space, to revive growth and investor confidence.
Equities in India saw record FPI inflows of $16.8 billion in November and December, taking the benchmark indices to new highs.
The opposition to outsourcing of jobs to low-cost locations is intensifying further in the UK with a large majority of Britons saying no more jobs should be moved abroad.
Experts have flagged issues regarding the levying of new cess/tax, especially those related to complications in administering the cess.
Apart from making your purchases on these platforms expensive, it will also mean sellers will have to face the brunt of reduced cash flows amid already low margins for some. Experts said the proposal, which will take effect on April 1, 2020, and will be inserted as a new section in the Income Tax Act, is expected to affect the working capital of e-commerce companies and reduce cash flows for e-sellers.
Flipkart on Tuesday launched a next-day delivery service.
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