Petrol and diesel prices were hiked by 60 paisa per litre on Monday, for the second day in a row, as State-owned oil firms reverted to daily price revisions after an 83-day hiatus. Petrol price in Delhi was hiked to Rs 72.46 per litre from Rs 71.86 on Sunday, while diesel rates were increased to Rs 70.59 a litre from Rs 69.99, according to a price notification of state oil marketing companies.
This is the third consecutive month when GST mop-up remained below the Rs 1 lakh crore mark, despite the festival season.
The Centre, however, noted that the last national serosurvey findings have shown that over 70 per cent of the population is still susceptible to the disease.
The government would fall short of its target for direct tax collections for the second consecutive year, with the revenue department estimating its direct tax receipts at Rs 3,70,000 crore (Rs 3700 billion) for 2009-10.
Proceeds would be used for business expansion, repayment of loans and working capital requirements
Since the beginning of 2020, i-bankers have collected nearly Rs 1,800 crore by way of IPO fees. Interestingly, the India fees this year form just 1 per cent of the global fee pool of $13.7 billion from IPOs.
Faced with a problem of suitable brides, Thamizhnadu Brahmin Association to cast net in UP and Bihar.
Will 2022 be a year of contrasting narratives -- one filled with caution and the other with continued optimism?
The SME segment has been grappling with lack of liquidity and lacklustre institutional participation.
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.
GST mop-up likely to fall in May, June after touching record levels in April and March.
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.
E-way bill generation, which is related to paying Goods and Services Tax (GST) and a key high-frequency indicator of economic activity, may have fallen to a five-month low in April as more cities experience lockdowns due to a surge in Covid-19 cases. In April e-way bill generation may decline to 55-58 million, which is the lowest since at least November. On the higher side, it is a 17 per cent decline over March.
This meeting has led to the deferment of the Goods and Services Tax (GST) Council meeting by a day.
Though CST is a central tax, the entire collection, estimated at Rs 250 billion per year, goes to the states. CST was to be cut to 1 per cent from April this year before its phase-out; from April 1, 2010, the country will transit to a uniform goods and services tax regime. "It was recommended by the empowered committee of state finance ministers that the CST rate of 2 per cent should continue until GST is implemented," said a source familiar with the development.
Stating that the fight against COVID-19 is at the final stage, Union Health Minister Mansukh Mandaviya on Thursday cautioned against letting the guard down before it is completely over and requested states to enhance the vaccination coverage and motivate the over 12 crore beneficiaries who are due for their second dose to take it.
Kerala Finance Minister K N Balagopal has sought systemic changes in the GST structure, saying every state and consumer has lost because of its basically flawed architecture that has also led to rampant revenue leakage for the states. The Goods and Services Tax (GST) regime came into force in July 2017. Even though the framework is focused on having a one-nation-one-tax model, quite a few items, including petroleum products and liquor are still out of the GST purview.
'The kind of tax which will be generated from the second pillar may far outweigh what we may be losing in the first pillar.'
India witnessed 22 initial public offers worth over $2.5 billion in the first three months of 2021 amid "high momentum" in the country's capital markets and the trend is likely to stay bullish in the current quarter also, according to a report. Leading consultancy EY India's IPO (Initial Public Offer) report released on Wednesday showed that consumer products and retail, diversified industrial products, automotive and transportation were the most active sectors in terms of the number of IPOs in the 2021 first quarter. The IPOs include both in the main as well as SME (Small and Medium Enterprise) markets.
The move can help mop up about Rs 1.2 lakh every day for the purpose.
From OnePlus' Concept One smartphone to the Microsoft Xbox Series X, Khalid Anzar lists the top 6 gadgets we can look forward to in 2020.
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The activation of diplomatic channels is likely to yield better results than a simmering hostility, recommends Ajai Shukla.
Air India's debt burden is estimated to be more than Rs 50,000 crore, besides huge accumulated losses.
The government has revised its divestment target downwards from Rs 2.1 trillion, as its ambitious privatisation programme has been deferred to next year.
The government had set the direct tax collection target of Rs 3.70 lakh crore (Rs 3.7 trillion) in the budget for 2009-10, which was later revised upwards to Rs 3.87 lakh crore (Rs 3.87 trillion).
'Ruksana affected me very deeply.' 'It was the circumstances around her that changed her in various ways.' 'Of course, I carry her back home, hoping and praying from the bottom of my heart that nobody ever has to be in this situation.'
Headline inflation will come down under the 6 per cent mark in July itself but will stay at an elevated level of over 5 per cent for some time, Chief Economic Advisor K V Subramanian said on Thursday. Such an outcome will get the price rise back into the upper-end of the target band given to RBI, he said, adding that consumer price inflation had breached the mark for three consecutive quarters last fiscal because of supply side issues like challenges in movement of goods. "With reasonable probability, I expect this month the (inflation) print to come less than 6 per cent," Subramanian told a conference organised by industry lobby Ficci. Right after data for May showing inflation at 6.4 per cent had come out, Subramanian said he had predicted it will cool down in internal meetings and also during "deliberations with the regulator".
Pace bowler James Anderson equalled an Ian Botham record when he took five wickets as England dismissed West Indies for 289 in the first innings of the first Test in Barbados on Thursday.
India Inc created a new record by mobilising Rs 24,993 crore (Rs 249.93 billion) in FY06-07, which is higher by as much as 5 per cent compared with the previous year's Rs 23,676 crore (Rs 236.76 billion).
The Reserve Bank of India said on Saturday several states would not borrow more than the Rs 14151 crore (Rs 141.51 billion) set to be raised in the next few weeks for the current financial year ending March 2003.
The vacancies are learnt to be impacting the I-T department's day-to-day functioning.
The sudden movement of the rupee - post the monetary policy - is not a reason to panic, said currency dealers. According to them, a correction was overdue for the rupee that remained the best performing currency in the region for well over a month. The rupee closed at 74.72 a dollar on Friday from its previous close of 74.60. It had dropped 1.52 per cent against the dollar on April 7 after the Reserve Bank of India (RBI) announced its monetary policy, committing to buy Rs 1 trillion of bonds in the June quarter. A weak rupee goes well with the export narrative of the government, and is consistent with the RBI's intervention strategy that prevented an appreciation.
CBDT has been given a collection target of Rs 5.69 trillion in personal income tax in the fiscal year 2019-20 - 19.2 per cent more than the Rs 4.77-crore collection in the previous year.
Petrol and diesel prices were hiked for the fourth consecutive day on Saturday by 35 paise per litre, pushing the total increase in rates on petrol to Rs 36 per litre and on diesel to Rs 26.58 since early May 2020 when taxes on the two fuels were raised to record levels. Petrol in Delhi now costs Rs 107.24 a litre and diesel comes for Rs 95.97, according to a price notification of state-owned fuel retailers. The latest increase that follows the unrelenting hike in international oil prices has pushed pump rates across the country to their highest-ever levels.
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