The Supreme Court collegium headed by Chief Justice D Y Chandrachud has recommended the names of three advocates for appointment as judges of the Bombay high court.
Small and medium enterprises had complained of tedious compliance burden under the Goods and Services Tax
Bihar became the first non-NDA state and overall second after the BJP-ruled Assam to pass GST bill.
GST revenue for the month of June stood at Rs 92,849 crore, a 2 per cent increase over the same month a year ago, the Finance Ministry said on Tuesday. The gross GST revenue collected in the month of June 2021 stands at Rs 92,849 crore of which central GST is Rs 16,424 crore, state GST Rs 20,397, Integrated GST Rs 49,079 crore (including Rs 25,762 crore collected on import of goods) and cess is Rs 6,949 crore (including Rs 809 crore collected on import of goods), the ministry said. The GST revenues for the month of June 2021 are 2 per cent higher than Rs 90,917 crore collected in June 2020.
K M Mani was appointed the chairman of the panel in March this year.
The shortfall in the Centre's GST collections has raised concerns over it meeting the fiscal deficit target of 3.3 per cent of GDP, reports Ishan Bakshi.
The BSE Mid-Cap index was currently down 1.25%
Criticising various provisions in the proposed GST regime, Moily said it will be a "technological nightmare" and the anti-profiteering provisions in it are "far too draconian."
Steps such as safeguard duty in the works to plug the route
A minimum levy of 12 per cent GST on tea will increase the cost, which will ultimately be passed on to consumers.
GST rates would depend upon whether the commodity is used by a rich person or a common man
Even if the GST rate is 18-20 per cent, there would be no average impact on inflation.
The system has gone through three rounds of testing for its load-bearing capacity.
They are evaluating realignment of warehouses and supply chains, besides exploring locations to set up hubs and shutting down some distribution centres
According to the draft, in the northeastern states the threshold is at Rs 500,000.
India's exports may have touched an all-time high of $422 billion in 2021-22 but recession in key western markets and geo-political crisis due to the Russia-Ukraine war are expected to impact the growth of the country's outbound shipments in 2023. All the global trade promoting factors like political stability, movement of goods, adequate availability of containers and shipping lines, demand, stable currency and smooth banking systems are in disarray. Adding to the woes, COVID cases have again started rising in countries like China, Japan, South Korea and the US.
A hotel in 1975, entry into paperboards in 1979, India's dominant cigarette maker, ITC, read the tea - or tobacco - leaves early, leveraged its enterprise strengths and stepped up the diversification agenda to create multiple drivers of growth. Some failed, some faltered, some were transformational, adding steadily to the top line. Now those efforts are making a difference: margins from non-cigarettes - FMCG, hotels, agri, paperboards, paper and packaging - are expanding and profits are kicking in more significantly than ever before.
Google on Friday said it is deferring the deadline for developers in India to integrate with its Play billing system from March 2022 to October next year. In October last year, the company had announced March 31, 2022 as the deadline for developers in India to integrate with Play's billing system. A Google spokesperson on Friday said the extension has been done in view of the changes to India's recurring digital payments guidelines.
Tax experts said historically in July and August indirect tax collections remain subdued and pick up with the onset of the festive season post Ganesh Chaturthi.
GSTN is planning a disaster recovery drill and hence services will not be available for 12 hours, between 9am and 9pm, on July 1, and has requested the taxpayers to plan GST-related activities on the portal accordingly.
The state has extended its full support, provided its revenues are protected.
Only after its recommendations will the central GST, integrated GST and state GST Bills be taken up
The Asian markets are largely trading in the green, taking heart from a positive close on Wall Street.
The Bills are primarily aimed at helping the MSME sector and small traders, Finance Minister Piyush Goyal said while introducing these in the Lok Sabha
The Singapore Minister applauded Prime Minister Modi's effort to make India the manufacturing hub of the world.
The headline for corporate profit growth has been very encouraging in the July-September quarter (Q2) of 2023-24 (FY24), with the combined net profit of listed companies up by 38 per cent year-on-year. However, the earnings distribution has been very lopsided, with most of the growth coming from public-sector oil-marketing companies (OMCs), banks, non-bank lenders, automobile (auto) companies, and cement producers. By comparison, companies from information technology services, fast-moving consumer goods (FMCG), retail, and consumer durables were disappointed, experiencing a sharp slowdown in net sales growth and a relatively muted increase in reported net profit.
The government announced several incentives in the five-year Foreign Trade Policy.
GST is a landmark reform considering the sweeping changes it brings about in the indirect tax regime in India.
The recent surgical strikes in Pakistan-occupied Kashmir are expected to grab limelight during the month-long session. Some parties have alleged that the government is trying to politicise it.
For the first eight months of the current financial year, the figure stood at Rs 7.17 trillion.
Since its rollout 13 months ago, the new indirect tax has yielded Rs 1 trillion only in in April 2018
The groups plan to take on well-entrenched players like Amazon, Flipkart, and Paytm by merging their offline businesses with e-commerce initiatives.
The panel might also decide on a new chairman.
The 42-year-old British Indian politician acknowledges "playing catch-up" to Liz Truss in the race as he continues his campaign tour of the UK to win over Conservative Party members' votes.
For 2019-20, the government proposes to collect Rs 6.10 lakh crore from CGST and Rs 1.01 lakh crore as compensation cess.
Interestingly, PM Modi had thanked his UAE counterpart Sheikh Mohammed bin Rashid Al Maktoum for offering the support to the rain-battered state on August 18.
A corpus of Rs 20,000-30,000 crore is under consideration, to narrow the input tax credit cycle and facilitate their working capital requirements.
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.
These are obviously not 'organic' desertions but brought about under intense military pressure, post the 9/5 arrests. It seemed as if the party was being dismantled the same way it was brought into power!, notes Rana Banerji, who headed the Pakistan desk at RA&W, India's external intelligence agency.
Compliance requirements, valuation, input tax credit transfers are likely to lead to tax litigation, says Sayan Ghosal.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances