Instead of taking the moral high ground and resorting to a ban, the government should've turned the screws on dance bars by enforcing the licence conditions, says Anil Singh.
The government on Tuesday announced the reduction in duty drawback rates for 403 items from April 7, but kept the rates same for 401 other items.
It is important to clarify that availing of an exemption is neither evasion nor tax planning.
Of the 11,000 kg imported between July 1 and August 9, around 90 per cent was brought in by two business groups which took advantage of the favourable reduction in tax incidence under GST, routing their imports through Korea.
In 2012-13, the Centre managed to cut fiscal deficit to 4.9% of GDP, lower than the Budget revised estimates of 5.2%
Clean energy cess to hike cost for power sector.
Simplifying the processes will lead to greater efficiencies. Bad processes will not help even if implemented well, says T N C Rajagopalan
Four decades of federal evolution made India more secure, but coronavirus is reversing that. Modi's central government has tasted power again and is unlikely to give it up, notes Shekhar Gupta.
GST is a landmark reform considering the sweeping changes it brings about in the indirect tax regime in India.
Only three or four tonnes is estimated to have been mobilised under the scheme.
Stalin has given due respect to seniority in the pecking order, but has also taken into consideration the demands of individual ministries and the suitability of individuals, observes N Sathiya Moorthy.
Steps such as safeguard duty in the works to plug the route
The road ministry has put forward two proposals before the Prime Minister's Office and the finance ministry.
B L Agrawal, a principal secretary in the Chhattisgarh government, was arrested for allegedly bribing people to help him wriggle out of corruption cases pending against him, while J P Singh, a former joint director of in Enforcement Directorate, was held for accepting illegal gratification to favour the accused in the Indian Premiere League betting scam.
The goods and services tax will level the playing field for different sectors of industry, including domestic manufacturing.
From the roll-out of GST to H1B visa problems, the government needs to quickly deal with various disruptions.
In a stern warning to service tax evaders, the government asked them to either pay their dues by tomorrow or face penal action which could include arrest and prosecution.
The present tax revenue of the state is Rs 120,000 crore.
Has the Modi government been more at odds with institutions than other governments? There is no doubt that there have been more run-ins. While the RBI and CBI cases have drawn attention, there have been others, less publicised, Subhomoy Bhattacharjee points out.
Following the Supreme Court ruling against liquor being sold within 500 metres of state and national highways, the infamous Indian jugaad is in play once again. Veenu Sandhu, Nikita Puri, Ranjita Ganesan & Avishek Rakshit find out how India is coping.
However, independent economists are not as gung-ho as the finance ministry over the likelihood of deficit target being met this time around, says Indivjal Dhasmana.
There has been a quantum jump in the number of complaints of corruption received by the Central Vigilance Commission last year as against those in 2011.
Indian economy about to take-off
The violent protests forced the Nagaland CM to call off the elections.
Finance Minister Arun Jaitley on Monday presented the Union Budget for 2016-17.
The scheme calls for banks, refineries and hallmarking centres to work together.
The government on Tuesday said PPF will not be taxed on withdrawal and only the interest accrued on contributions to employee provident fund made after April 1 will be taxed.
Since the present law threatens to unleash an avalanche of litigation over a period of time, it makes sense to replace it with a simpler law and build complexities as more experience is gained, says T N C Rajagopalan.
Increase in taxes on luxury cars will not have any effect on the demand
Even given politicians' penchant for self-promotion, Tamil Nadu Chief Minister Jayalalithaa takes it to another level altogether, says A Ganesh Nadar. Nothing wrong with it, provided it's not done at the tax-payer's expense.
The cigarettes segment had a revenue of Rs 4,554.21 crore during the second quarter of the current fiscal, as against Rs 8,528.47 crore in the year-ago period, down 46.56 per cent.
The RBI on Thursday lowered the benchmark repurchase rate to 7.75 per cent from 8 per cent, the first reduction since May 2013.
FY16 GDP growth was seen at 7.5%, against 8.1-8.5% earlier.
The states have unanimously pitched for sole administrative powers to carry out assessment, scrutiny and enforcement for entities up to an annual turnover of Rs 1.5 crore.
India must revive public sector firms.
Emerging markets facing 5th year of slow growth: World Bank.
The passage of the Bankruptcy Code could set the stage for other important legislation that may see India undergo more economic change than all governments combined since the reforms implemented by P V Narasimha Rao in 1991-93, says Ben Merton.
"To begin with, people could face some difficulties because any changeover has its own problems. But it will settle down and the country will benefit from the new indirect tax regime," Jaitley said at an event organised by ABP News.
Rediff Labs analyses the relationship between alcohol and revenue generated and reported drunken driving accidents.
