Month: June 2017

The governments cannot be blamed for the occurrence of drought, but governments are solely responsible for the mismanagement of the consequences of drought. Apart from

GST Council clears anti-profiteering, e-way bill rules, sets tax rate for lottery tickets–Financial Express–18-06-2017

The Goods and Services Tax (GST) Council has cleared anti-profiteering and e-way bill rules, sources have told news wire service PTI. After the meet, Finance

How not to usher in a cashless economy–Business Standard–18-06-2017

The government’s most talked about measure was the discontinuation of Rs 500 and Rs 1000 notes for three stated objectives — unearthing black money, eliminating

GST Council gives relaxation of 2 months for filing of GST returns–Economic Times–18.06.2017

Ruling out any delay for July 1 GST roll out, GST council today discussed and approved six set of rules including decision on e-way bills,

Defer GST rollout as IT network not ready: Assocham to FM Jaitley–Business Standard–17-06-2017

Industry chamber Assocham today demanded postponing GST implementation, saying that taxpayers will find it difficult to comply with the provisions of the new indirect tax

RBI initiates PCA against Bank of Maharashtra as bad loans rise–Business -S-tandard–17-06-2017

The Reserve Bank of India (RBI) has initiated Prompt Corrective Action (PCA) against Pune-based Bank of Maharashtra (BoM) in view of the high level of

If WhatsApp can run in rural areas, so will GST platform: GSTN chief–Economic -T-imes –17-06-2017

GST Network, the company that is readying the technology backbone for the new regime, has dismissed fears that the online tool will be too cumbersome

Stressed steel sector loans easier to resolve: bankers–Business Line [ The Hindu ] -17-06-2017

Thanks to revival in demand and prices–Stressed companies in the steel sector stand a better chance of getting resolved under the Insolvency and Bankruptcy Code

Steel, infra companies in RBI’s big-debtor list–Business Line [ The Hindu ] –17-06-2017 ]

‘Dirty dozen’ accounts for ₹2 lakh cr exposure Big companies in the steel and infrastructure sectors dominate the list of 12 large accounts identified by

No timeline for identification of additional defaulters: RBI’s S S Mundra–Financial Express–17-06-2017

RBI Deputy Governor S S Mundra today ruled out coming out with next batch of loan defaulters against whom insolvency proceedings will be initiated. The

Not demonetization, here’s what caused the farmers crisis in Maharashtra, Madhya Pradesh–Financial Express–17-06-2017

Talk to anyone in the agriculture/commodities sector, and they will tell you about the typical agriculture price-output cycle. A huge price spike will cause a

Don’t force flat buyers to pay entire amount before July 1: Tax dept–Business Standarad–17-06-2017

The indirect tax department has warned builders against asking flat buyers to face higher tax rates if they don’t pay the entire amount of houses

Telcos should seek removal of unjustified levies–Economic Times-17-06-2017

Telecom operators have reportedly asked the sector regulator, Trai, to set a floor price for voice and data tariffs to ostensibly tackle competition. This is

4 reasons why India should keep its fingers crossed when GST rolls in next month–Economic Times-17-06-2017

The Goods and Services Tax (GST), India’s biggest tax reform since independence, will unify a $2 trillion economy into a single market. This big tax

RBI working on formal co-origination model for MSME credit boost, says Mundra–Business Line [ The Hindu ] 16-06-2017

The Reserve Bank of India (RBI) is working towards a formal co-origination model to give a boost to the flow of credit to the micro,

GST impact: 28% tax rate on consumer appliances worries fan manufacturers–Business Standard–16-06-2017

According to rough estimates unless government intervenes the immediate price rise of fans could be at least four to five per cent The Rs 6000

GST does not call for distress sales–Economic Times–16-06-2017

Afire sale ahead of the roll out of the goods and services tax is undoubtedly beneficial for consumers, but disruptive for industry and the overall

Steel ministry pins hopes on spurt in infrastructure spending–Economic Times–16-06-2017

Steel ministry is pinning its hopes on a spurt in infrastructure spending to provide a much needed boost to domestic steel demand. It expects at

ITR E filing: E-filing income tax return: How individuals can upload any ITR using excel utility – The Economic Times—-16-06-2017