- 01 Aug 2022 04:18 PM
- New
₹1,48,995 crore gross GST revenue collected in the month of July 2022
GST Revenue collection for July second highest ever & 28% higher than the revenues in the same month last year
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- 30 Jul 2022 03:12 PM
- New
Fiscal deficit widens to 21% in Q1; core sector growth slows
India’s fiscal deficit widened to touch 21% of the budget target for the fiscal year in the first quarter of 2022-23 after capital expenditure increased sharply but overall revenue recorded only a moderate rise.
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- 30 Jul 2022 03:18 PM
- New
Price rise debate in Lok Sabha likely on Monday amid Opposition protests
NEW DELHI : The Lok Sabha had been marred with several adjournments since it commenced the monsoon session on 18 July. Opposition MPs were suspended after they protested about the price rise in the nation. The suspended MPs since then has been on a 50 hour day night protest in front of the Mahatma Gandhi statue to open dialogue on the issue of price rise in India.
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- 30 Jul 2022 03:22 PM
No new tax or VAT increase in Uttar Pradesh: CM Yogi Adityanath
Uttar Pradesh Chief Minister Yogi Adityanath said that keeping in mind the larger public interest, the Uttar Pradesh government has neither increased the VAT and nor has imposed any new tax in the state.
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- 29 Jul 2022 11:39 AM
Hotel association asks for GST rationalisation
The Federation of Associations in Indian Tourism & Hospitality (FAITH), a policy federation of all ten associations representing tourism, travel and hospitality industries has asked for five rationalisation measures for its sectors. It said restaurants should also be allowed the option of charging GST at 12% with full input tax credits and the rate should be delinked from any room tariffs if they are part of hotels.
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- 28 Jul 2022 01:22 PM
The value segment consumer reels under high inflation
It’s a bit of a Catch-22 for Vineet Rao, CEO of Jaipur-based e-commerce startup DealShare, which sells groceries, essentials and home care products. He’s not sure whether to hail or slam the recently imposed 5% GST on certain unbranded, packaged food items such as rice, wheat, flour and pulses notified by the government this month. GST will be levied on pre-packaged and labelled (non-registered brand names) goods and will be applicable on single packages of food items like cereals, pulses etc., weighing up to 25 kg.
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- 27 Jul 2022 01:35 PM
Why rapid economic growth may follow high inflation
In every aspect of life, we have choices and what we choose depends on us. The choices we make mould us. If we see threats, we will be on the back foot, and if we see an opportunity, we work towards making the most of it. Today, economies across the world are being reset on account of inflation inflicted by geo-political turbulence and action taken by some of the most powerful countries in dealing with their economies. The impact of their decisions can be felt worldwide.
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- 26 Jul 2022 01:16 PM
Representations for roll back of GST hike on pre-packaged food grains received: Centre
NEW DELHI : Requests have been received for reconsidering the imposition of 5% Goods and Services Tax (GST) on pre-packaged and labelled food items like pulses and rice, finance ministry said on Monday.
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- 26 Jul 2022 01:28 PM
Let’s reposition our SEZs without tilting markets
Even before 1991, when India’s economy was broadly autarkic by design, export promotion was part of our policy agenda. Designated areas were carved out as special economic zones (SEZs), with these industrial estates exempt from various levies that went against export competitiveness. Set up in the mid-1960s, Kandla in Gujarat was our first SEZ. It has long been dwarfed by another one across the Gulf of Kutch in Jamnagar, home to a huge Reliance oil refinery that logs major exports, but we also have hundreds of other SEZs, all of them governed by the SEZ Act of 2005.
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- 26 Jul 2022 02:32 PM
From canteen to medical insurance, GST Council provides much-awaited relief on employee perks
Perquisites provided by an employer to its employees always attract the attention of the tax authorities. Service provided by an employee to an employer is exempted from GST.
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