In part four of a series, Arbind Modi & Arvind Subramanian explain how scrapping the exemptions for the countervailing duty will eliminate the negative protection facing Indian manufacturers
The government allowed sugar companies and distilleries to make hand sanitizers using ethanol. Sugar companies supply ethanol to oil marketing companies for blending with petrol.
He was arrested late on Wednesday evening from a village under Amba police station area in Aurangabad district by a joint excise and police team.
Union budget was mildly for cable broadcasting industry and DTH.
The demand for extension of the GST cess regime among others was made by several state finance ministers at a pre-budget consultation called by Union Finance Minister Nirmala Sitharaman in New Delhi. Besides, many states also demanded raising the share of the Union government in the Centrally Sponsored Schemes (CSS). Currently, the central government and state government share in some CSS is 60:40 while in others it is 75:25.
The previous best selling year was 2010 when Maruti managed to sell around 10.6 lakh (1.06 million) units.
'There are deliberations on whether there can be lowering of income taxes and other sops to keep more money in the hands of taxpayers, enabling them to spend more and boost demand.'
Jewellers on Monday decided to continue their pan-India strike for an indefinite period against the Budget proposal.
A look at the key decisions taken by the Narendra Modi government in its six months.
'The BJP is scared it may lose the Delhi municipal elections where they have been in power for the last 15 years.'
On April 5, 2016, the Nitish Kumar-led government imposed total prohibition in Bihar. M I Khan crunches numbers for the REAL picture since then.
In order to stop the production and sale of illicit liquor, Maharashtra government is considering a proposal to amend the existing law.
India's tax pie seems to have undergone a subtle change with a sharp drop in direct tax collections resulting from a disproportionate impact of the COVID-19 carnage on incomes. The share of indirect taxes, which mainly comprise of levy on goods and services as well as import duty, has risen while that of direct taxes - made up of corporate and personal income tax - has gone down in 2020. In an interview with PTI, finance secretary Ajay Bhushan Pandey said in a pandemic like this where the economy has been impacted, any large scale changes impact direct taxes more severely, whereas indirect tax collection is mostly proportional to business turnover and compliance.
Teja is among the 12 personalities from the Telugu film industry summoned by the SIT.
The auto industry expects lower taxes and interest rates from Budget 2015.
Petroleum being out of the goods and services tax initially will create some anomaly as tax credit on some of the inputs to oil industry may not be given, said revenue secretary Hasmukh Adhia.
The EC has asked all departments to deploy round-the-clock flying squads, quick-response teams, and high-tech machinery to check money inflow. They are also to examine vehicles passing though check-posts, reports Shrimi Choudhary.
High-pitched identity politics, which is the norm in the northeast, has continued to compound the boundary problem.
Leader of Opposition Mallikarjun Kharge, speaking on the Motion of Thanks on the President's address, charged the government with not delivering on its various promises, including generating two crore jobs per year.
The financial fraud, one of the biggest in the state as per records, was being investigated by the different departments of Himachal Pradesh for the past over four years.
CM Trivendra Singh Rawat cancels licences of the two government-controlled liquor shops in his constituency. The state government is facing an uphill task in opening new shops in face of widespread agitation by women.
Finance Ministry, Assocham on Tuesday sought a taxation friendly environment for the startups
The average listed company has to comply with several laws as it goes about conducting its business. Of these, there are three pieces of legislation that arguably have the most impact on its business.
In 2015-16, more than 94 per cent of income tax returns were filed online and 4.14 crore returns were processed by the Central Processing Centre.
These builders had collected the taxes from prospective buyers but had failed to deposit them.
Strict lockdown-like restrictions are already in place in the southern stateand the Pinarayi Vijayan government decided to clamp the complete shutdown in the wake of severe spike in the positive cases.
Prohibition is resulting in prisons getting overcrowded.
A total of 829 candidates have qualified for civil services, including the Indian Administrative Service and the Indian Police Service, the Union Public Service Commission announced
So far, the maximum 83 deaths have taken place in Tarn Taran district, followed by 14 in Batala and 13 in Amritsar. The tragedy has been unfolding since Wednesday evening in the three districts.
State home minister said violation of rules has been noticed in the construction of the building.
Asserting that liquor consumption is a social stigma, Nitish said that prohibition would improve society.
If imputed inflation for April and May is used, then you have inflation of over 6 per cent for two consecutive quarters, which is a worrying signal for the RBI.
Some of the policy measures announced are expected to go a long way in removing current challenges on financing faced by businesses and also increasing economic activity, especially in areas of construction and manufacturing.
The Central government is stuck between the devil and the deep blue sea as far as the runaway fuel prices are concerned.
SEZs account for just about a third of India's merchandise exports (and roughly the same proportion of services exports). Yet, the notion of creating global manufacturing centres of the kind that propelled China to superpowerdom retains a durable appeal within the Indian policy-making establishment, notes Kanika Datta.
'Singh is complaining that politicians are summoning Waze after bypassing him.' 'But Singh is himself undermining the hierarchy within his force by interacting directly with Waze.'
The indirect tax department on Thursday hinted that Vijay Mallya, owner of the grounded Kingfisher Airlines, may face prosecution in a service tax evasion case.
The CJI said tax judiciary plays a very important role in resource mobilisation of the country and expressed concern over pendency of cases.
Lowering excise duty on petrol, diesel, and other fuels, branded fuels.
The notification shall come into force on July 1.
