"What we have been able to gather is that Newsclick stands accused of offences under the Unlawful Activities Prevention Act (UAPA), for purportedly carrying Chinese propaganda on its website. All devices, laptops, gadgets, phones, etc have been seized in the past. All emails and communications have been analysed under the microscope," the statement by NewsClick read.
The prime minister, who spoke in the Upper House as it bid farewell to 53 retiring MPs, noted that Rajya Sabha members are representatives of the states and the interest of their state should be a priority for them.
'We have already given Rs 1.59 trillion to states.' 'So, there is no question of giving them more.'
Revenue from divestment has fetched Rs 40,000-50,000 crore against target of Rs 2.10 trillion.
The government has allowed import and export of COVID-19 vaccines without any value limitation, in order to ensure speedy clearance and distribution. The Central Board of Indirect Taxes and Customs (CBIC) has amended the regulations to facilitate the import/export of COVID-19 vaccines through courier, at locations where the Express Cargo Clearance System (ECCS) is operational. "Imports and exports of vaccines in relation to COVID-19 has been allowed without any value limitation," said the amended Courier Imports and Exports (Electronic Declaration and Processing) Amendment Regulations, 2020.
It will reduce compliance cost as the assessee will not have to maintain multiple records for a variety of taxes
The challenge is to enhance opportunities for people to generate livelihoods through entrepreneurship, both big and small, argues R Jagannathan.
Most of these alleged tax evaders hail from Kolkata, Mumbai, Ahmedabad, Surat, and Delhi.
TVs, air conditioners, washing machines, inverters, refrigerators, electric fans and cooking appliances may become cheaper
Industry had sought this 3-month extension, specifically for players struggling to collate the information that are required to be disclosed in the GST forms.
With Goods and Services Tax (GST) officers under pressure to exceed the Rs 1-trillion collection mark per month, industry has faced a barrage of recovery notices and summons issued over the last one month across sectors, according to company executives. Industry bodies have claimed harassment by field officers, blocking of input tax credit, cancellation of GST registration, threats of arrest and steep penalties, impacting their working capital and operations. Company executives pointed at an atmosphere of apprehension and fear due to such notices and summons.
India improved its rank on six out of the 10 parameters relating to starting and doing business in a country.
The GST Council had given the option to real estate companies to either opt for old rates of 12% (for residential) and 8 per cent (affordable housing) with ITC benefits or the new tax rates of 5% for residential units and 1% for affordable housing without the benefit of adjusting the credit on inputs used during construction.
New government should consider reforming taxation rules.
Finance Minister Arun Jaitley in the Budget speech has announced a host of measures, including hiking tax exemption limit, incentives for the housing sector and relief in indirect taxes on auto and other sectors to promote industrial output and boost growth.
Group of ministers to review progress every fortnight.
All goods and services have been put in slabs of 5%, 12%, 18% and 28%
Modi said the Goods and Services Tax has within one year of its launch led to over 70 per cent jump in indirect taxpayer base, demolished check-posts and merged 17 taxes and 23 cesses into one single tax.
'Urjit Patel was not quite the picture of courage, but even he turned, he had to turn.' 'Perhaps there is something that is far more sinister than what we are aware of, which is the reason for his resigation.'
5 commodities namely crude oil, natural gas, petrol, diesel, and aviation turbine fuel (ATF) were kept out of GST's purview given the revenue dependence of state governments on these sectors.
Officers across departments and ministries have been asked to speak to people across sectors for 'SWOT' analysis of issues for revival of the economy.
Leading indicators suggest economic activity has been disrupted after demonetisation.
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.
Central Board of Excise and Customs Chairperson Vanaja Sarna said there will be genuine errors due to lack of understanding in the initial days. "CBEC has enforcement authorities and I have specifically said that the first three to six months are a go-slow.... I don't want small cases to be made," Sarna said at a CII event.
Every option before the finance minister comes with a price tag, observes T N Ninan.
GST mop-up likely to fall in May, June after touching record levels in April and March.
'If my understanding is correct, one has to file not less than 37 returns per year for every ordinary business, and that too per state.' 'If you are doing businesses in Chennai, Bangalore and Hyderabad, you have to file 37x3 returns every year!' 'The consequence of GST will be chaos, confusion and possibly economic crisis.'
Moody's expects tax to be lower than the multitude of taxes such as sales tax, excise duties, local taxes, and value-added taxes the automobile sector currently pays
The consensus was reached after the Centre agreed to the demand of states to go in for horizontal split
The fiscal deficit was 4.9 per cent of GDP in 2012-13.
Insurance companies are seeking a separate deduction limit of Rs 1 lakh for insurance premium payment under Section 80C of the Income Tax Act in the upcoming Union Budget to bring in more people under the ambit of insurance. The insurers also want reduction in the goods and services tax (GST) rate of 18 per cent currently applied on health insurance products to 5 per cent to make such products more affordable to common people. Finance Minister Nirmala Sitharaman will present the Union Budget for 2022-23 on February 1.
India opened up its economy to the private sector in 1991.
While the corporate sector has benefited from massive capital expenditure, leading to sky-rocketing stock prices, investors would do well to keep an eye on the macroeconomic picture and government finances, not just corporate profits, for signs of trouble, alerts Debashis Basu.
What Rajya Sabha can do for the states, no other House can do, the Prime Minister said.
The compensation would be met through levy of a cess called 'GST Compensation Cess' on luxury items and sin goods like tobacco, for the first five years.
Though FDI inflow has been on the rise in the past three years, it is mostly on account of services
He slammed those trying to stall passage of the Bill in Parliament saying they were attempting to 'stop progress of the country
The Calcutta High Court on Thursday indirectly criticised the West Bengal government's decision yesterday to levy a 10 per cent tax on tobacco products to assuage the growing anger of agents and depositors of the Saradha group.
Increase in taxes on luxury cars will not have any effect on the demand
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