In the event of the BJP's poor performance in the assembly polls this year and in early 2025, Modi's hold will get further weakened because he will no longer remain the invincible electoral persona tightly controlling the machine at his disposal, asserts Nilanjan Mukhopadhyay.
The Delhi high court on Wednesday asked the Centre and the Delhi government to present their stand on a plea seeking recall of all currency notes above Rs 100, restricting cash transactions above Rs 10,000 and linking assets worth more than Rs 50,000 with Aadhaar to check corruption.
Statements of five 'Angadiya' firm operators have also been recorded by the ED to establish the "money trail" of this alleged Rs 45 crore bribe amount.
Without Form 16, tax computation becomes cumbersome
India is on the brink of overhauling its tax system, implementing the BEPS project and seeing a further evolution of the GST at the same time as a general election. This makes 2019 an exciting and challenging year, note Maulik Doshi and Jigar Doshi.
At present, 70% of the mobile handsets sold in India are imported.
With just a day left for the budget session of Parliament to wind up, the government finally scored a goal when it passed the Judicial Commission and Constitution Amendement Bills in the Lok Sabha, hurriedly obtained the President's signature in a matter of hours and by late evening brought the Constitution amendment part of the Bill to the Rajya Sabha for consideration.
These would include passenger engagement initiatives, consumer offers, and curated menus at food and beverage outlets.
If, as promised, the refunds are done within 24 hours it will obviate one of the biggest reasons that taxpayers distrust the tax department -- delayed refunds especially in cases of large refunds.
A government report revealed that fake companies floated with fake addresses, issued fake GST invoices and generated fake e-way bills, with fake vehicle registration details without supplying any goods causing huge loss to the exchequer.
Keeping the government on tenterhooks on key reform measures like the Insurance Bill and Goods and Services Tax, the Congress party on Monday said there is "no blank cheque" on its support on these in Parliament as the "devil lies in the details".
Disclose foreign assets, redesignate NRO a/c and open a Resident Foreign Currency a/c to park forex earnings
The passing of the GST bill and the failure of India to acquire NSG membership is set to rule the agenda in Parliament.
In a major reach-out to the main Opposition, the prime minister invited Gandhi and Singh over tea at his Race Course Road residence around 7 pm.
This case is the largest investigated by the Pandemic Response Accountability Committee Fraud Task Force to date, US Attorney for the Northern District of Texas Leigha Simonton said in a press release.
On Friday, the rupee fell to its 26-month low at 66.89.
Going ahead, the likely implementation of the goods and services tax bill in July and how the monsoons play out will have a bearing on India's demand for gold and gold jewellery
The government has notified mandatory requirement of e-invoicing for B2B transactions for businesses with a turnover over Rs 100 crore with effect from January 1, 2021. Under Goods and Services Tax (GST) law, e-invoicing for business-to-business (B2B) transactions is mandatory for companies with turnover of over Rs 500 crore from October 1. In a notification, the Central Board of Indirect Taxes and Customs (CBIC) said e-invoicing will be extended to businesses with a turnover over Rs 100 crore from January 1.
The 30-share Sensex ended up 142 points at 27,705.
'The role reversal of those in favour of GST and those opposing it is troubling.'
Businesses with monthly turnover of over Rs 50 lakh will have to mandatorily pay at least 1 per cent of their GST liability in cash, the finance ministry said as it moved to curb evasion by fake invoicing. The Central Board of Indirect Taxes and Customs (CBIC) has introduced Rule 86B in Goods and Services Tax (GST) rules which restricts use of input tax credit (ITC) for discharging GST liability to 99 per cent. "... The registered person shall not use the amount available in electronic credit ledger to discharge his liability towards output tax in excess of 99 per cent of tax liability, in cases where the value of taxable supply ... in a month exceeds Rs 50 lakh," the CBIC said.
Central Board of Indirect Taxes and Customs said despite the electronic way or E-way bill mechanism there has been rampant evasion and there is a need to increase compliance.
The disputed region witnessed clashes on Saturday between the police and activists of a rights movement, leaving at least one police official dead and injuring over 100 people, mostly policemen.
Chartered accountant and commentator M R Venkatesh on why the GST Bill will cost the BJP dear.
Interlinking of rivers, retrieval of Katchatheevu island and inclusion of fishermen in the Scheduled Tribes list are also listed in the memorandum.
Services attract highest foreign direct investment, despite Make in India push.
The monsoon session of parliament is all set to begin on July 21, but it will be a truncated three-week affair.
Decoding four important provisions in the Finance Bill 2018.
Cable tariffs across the country are set to go up with the TRAI clarifying that operators can hike charges in view of the increase in service tax and the imposition of education cess in Budget.
The Congress on Wednesday dismissed as "totally baseless" and "mischievous" reports that it had offered a deal to government under which it was ready to support passage of GST bill in Parliament if it axed External Affairs Minister Sushma Swaraj and Rajasthan Chief Minister Vasundhara Raje in the wake of the Lalitgate controversy.
A simple primer on how much money taxpayers can save under various sections of the Income Tax Act.
For the convenience of people to pay school fees and municipal taxes and utility bills through an integrated platform, the Reserve Bank on Thursday proposed setting up an "anytime anywhere" bill payment system.
'There are unscrupulous traders who create fake invoices by showing bogus e-way bills, movement of goods.' 'Since the entities registered across different states, and kept on changing their numbers, tracing them was difficult.'
We have only three differences with the Bharatiya Janata Party on the GST, said the Congress vice president.
The productivity of the Lok Sabha was 91.58 per cent while that of Rajya Sabha was 56.29 per cent.
Implementation of GST is expected to increase the gross domestic product of the country.
The GST, an indirect tax regime, is to be rolled out from April 2016.
Justice Swarana Kanta Sharma said the stay on the operation of the FIR as well as the trial court order will remain in force till December 6, the next date of hearing. The trial court had directed registration of an FIR against them on a complaint alleging that Hero MotoCorp manufactured fake bills worth Rs 5.9 crore and obtained tax credit of over Rs 55 lakh. The company, its chairman and officials approached the high court challenging the trial court's order.
Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
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