The GST collection in April touched the highest ever level of about Rs 1.68 lakh crore, up 20 per cent from the year-ago period, on improved compliance and recovery in business activity, the Finance Ministry said on Sunday. During the month, 1.06 crore GST returns from GSTR-3B were filed, of which 97 lakh pertained to March 2022. The gross GST revenue collected in April is Rs 1,67,540 crore, of which CGST is Rs 33,159 crore, SGST Rs 41,793 crore, IGST Rs 81,939 crore (including Rs 36,705 crore collected on import of goods) and cess Rs 10,649 crore (including Rs 857 crore collected on import of goods), the ministry said.
Lenders to DHFL will meet early July to hammer out a rescue package, which will include the reworking of loan payments, fresh working capital support, roping in a financial investor, and the promoters ceding control.
PNB issued a formal appointment letter to Belgium-based consultancy firm BDO
The proxy advisory firm's latest comments come within days of Maruti saying that it expects to save about Rs 10,500 crore (Rs 105 billion) in the first 15 years by not investing in the Gujarat facility.
It may not be an exaggeration to say that in the next three years, in India itself a million jobs or more might be at risk due to automation. How we leverage its benefits will determine our fate in the digital era.
Sebi has time and again voiced its concerns over higher agents' fees.
Despite strong AUM growth, MFs lag behind other popular investment avenues. MFs received only 6 per cent of total household savings in 2021-2022.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
First Rajya Sabha approved the Rs 45 lakh-crore spending proposed in the Budget, followed by the nod to the Finance Bill that contains tax proposals.
Theatres are finding innovative new ways to increase footfalls, discovers Vanita Kohli-Khandekar.
Recently listed companies scored 54, compared to 58 for the BSE100 firms and 61 for entities in the Sensex pack. The report noted that issues remain in IPO companies in which there seems to be a need to institutionalise governance practices.
The guidelines, which have made service charge "totally voluntary and not mandatory", will be sent to states for necessary action
'Government shouldn't be in the business of running airlines, instead it should develop the ecosystem of civil aviation.'
The immediate concern for all companies is to prepare themselves - and their vendors and suppliers - for the new GST return filing mechanism, being test piloted from April 1.
Be mindful that each instrument is governed by a different set of gifting rules and is also taxed differently.
If you have seen Zwigato, Param Kumar's story will sound familiar. Laid off from his job as a repairman at a Gurugram-based water purifier provider, he now delivers groceries and food for a mobile-based delivery app, in Delhi. Kumar, who started making deliveries last August, told Business Standard that he is working longer hours than his older salaried job as an RO repairman, and has no paid leaves or health insurance. Kumar is part of India's estimated 7.7 million-strong force of gig workers.
Hyderabad-based Pi Datacenters wants to be the first destination of choice for enterprises in data and cloud services.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
When Open Network for Digital Commerce (ONDC) was conceived last December, the idea was to reduce the dominance of e-commerce giants like Amazon and Flipkart. It was also to bring in a level-playing field for small merchants in India's fragmented but fast-growing $1-trillion retail market. However, those goals have changed now as large e-commerce players such as Flipkart, Amazon and Ecom Express are in various levels of talks with the ONDC team. They want to form partnerships like integrating with the network as well as providing their expertise to build it, according to the industry sources.
Superseding the boards of two non-banking financial companies (NBFCs) in the Srei group will neither create liquidity challenges for sound entities, nor build systemic crises because the markets have factored in the problems with the Kolkata-based firms. Such regulatory steps will help in making the NBFC space more robust, bankers and market experts said. The action should have begun earlier because the Reserve Bank of India (RBI) had done a special audit last financial year and asked the group to make provisions for assets considered stressed, analysts said.
The Rajya Sabha proceeding washed out completely on Wednesday and was adjourned for the day amid continued protest by the Opposition parties led by the Congress over price rise and levy of Goods and Services Tax (GST) on daily essentials.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Regional States will be worried that the US's nascent engagement with the Taliban behind the fig leaf of humanitarian aid enables the return of US intelligence personnel to Afghanistan, observes Ambassador M K Bhadrakumar.
The assets in control of MFs soared to a record high of Rs 17.9 lakh crore last month
Tax experts said that in FY17 around 80,000 people had reported incomes of over Rs 1 crore
GST collections in February grew 18 per cent to over Rs 1.33 lakh crore in February even as the Omicron wave dented the month-on-month collection momentum. This is for the fifth time in the current fiscal that the Goods and Services Tax (GST) collection has crossed Rs 1.30 lakh crore mark. Also, this is the first time, cess collection has crossed the Rs 10,000 crore mark, signifying recovery in certain key sectors, especially automobile sales, the finance ministry said on Tuesday.
Roles ranging from digital marketing to wealth management are some of the emerging roles, notes Sekhar Garisa, CEO, foundit, a job search app.
Apart from the main company, five of Air India's subsidiaries and a joint venture firm have been included in the strategic sale plan.
RRVL will make an open offer to acquire up to an additional 2.17 crore equity shares of Just Dial, representing 26 per cent stake, in accordance with Sebi Takeover Regulations, a regulatory filing said.
The banned Chinese apps, which include TikTok, Shareit and UC Browser, earn revenue mainly from online advertisements, subscriptions, and commissions for selling products. India is the biggest driver of these Chinese apps due to the population. The ban on the 59 Chinese apps will negatively affect the valuations of the companies, especially those going for IPO.
In addition to challenges such as reining in non-performing assets (NPAs) and boosting profits, Chaudhry will have to repair the bank's reputation, build internal controls, and improve regulatory relations.
Fraudsters were luring gullible investors of daily returns up to Rs 75,000.
Sets up new financial services arm, Amit Goenka joins as CEO.
Move to address MNCs' taxation woes; UK likely to be the next.
While using the family to save tax is legal and smart, ensure you use the ones where clubbing income laws isn't a concern, advises Bindisha Sarang.
JM Financial Consultants, Arpwood Capital and Alvarez & Marsal will advise the board going forward
'To set up a successful business, one must have a solution to an existing problem or a better way of addressing the current solution.'
Eight months after India's largest car maker, Maruti Suzuki India, announced plans for a Gujarat unit to be set up as a wholly-owned subsidiary of parent Suzuki, opposition to the move continues to simmer.
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