urrently, GST has 4-tier slab of 5, 12, 18 and 28 per cent, while essential items are zero rated. The government has detected Rs 20,000
Month: February 2019
GST: India’s transformational GST has some hits, few misses–Economic Times
By Sumit Dutt Majumder There were certain basic objectives of introduction of GST. One was to substantially reduce, if not eliminate, the cascading of taxes by
Universal Basic Income: Why Universal Basic Income is a bad idea–Economic Times
A UBI offering even poverty-line income will cost maybe 10% of GDP, and the entire net revenue of GoI is barely 8% of GDP. Ten
A patchwork approach to GST problems – The Hindu
Transparency and simplicity in the tax regime are casualties of the GST Council’s recent decisions It has the best intentions, but the Goods and Services
Counter strike: Responsive & responsible–Economic Times
India has hit back at Pakistan for the terror attack at Pulwama that killed more than 40 Indian paramilitary personnel. India’s air strike within Pakistani
RCom-Ericsson case: Investors oppose Anil Ambani-led firm’s plea to use IT refunds to settle dues at NCLAT – The Financial Express
Financial creditors of the debt ridden Reliance Communications Wednesday opposed its plea to release the Income tax refunds to clear dues of Ericsson before the
Recapitalisation not enough, PSU banks need Rs 1.64 lakh crore to deal with future losses – The Financial Express
Government’s latest capital infusion of Rs 48,239 crore in PSU banks announced on 21 February 2019 may not be sufficient to support significantly stronger lending
No real boost – The Hindu BusinessLine
Giving in to hectic lobbying by real estate developers, the GST Council has make multiple tweaks to Goods and Services Tax for residential property, slashing
Decoding the Ordinance on unregulated deposit schemes – The Hindu BusinessLine
The recently-promulgated Banning of Unregulated Deposit Schemes Ordinance 2019 ruffled a few feathers with news reports and legal experts expressing concerns over how the ordinance
Demonetisation | Note Ban: Demonetisation 2.0? New rule to regulate deposits may hurt many–Economic Times
Acceptance of unregulated deposits could trigger attachment and freezing of assets and even imprisonment. Highlights ‘The Banning of Unregulated Deposit Schemes Ordinance, 2019’ was notified
Targeted Budget: April-January fiscal deficit at 121.5% of full-year target–Economic Times
India’s April-January fiscal deficit touched Rs 7.7 lakh crore ($108.36 billion). Fiscal deficit touched 121.5 per cent of the full-year revised target of Rs 6.34 lakh
MSMEs present an additional $70 bn lending opportunity to banks – The Economic Times
In January, the Reserve Bank had announced restructuring of MSME accounts under Rs 25 crore that have become stressed. The micro, small and medium enterprises
Taxman agrees GST evasion by builder can’t be tackled – The Financial Express
Given how the real estate sector is such a big source of black money, it is unfortunate that the GST Council has opted for this
Insolvency process: Manoj Gaur offers to clear Jaypee Infra dues of Rs 8,358 crore – The Financial Express
In a last-ditch effort to regain control of the insolvent Jaypee Infratech (JIL), its erstwhile promoter Manoj Gaur has offered to clear dues of financial
Money pours back in: Rs 1.8 lakh crore NPA recovery expected in FY19 as big cases head towards closure – The Financial Express
According to estimates, the IBC has helped address stressed assets worth approximately Rs 3 lakh crore — directly or indirectly — since the new law
Binani Cement case: Cementing the EXIM Bank stand – The Financial Express
By Debasish Mallick & Priti Thomas Recently, the NCLAT had dismissed the appeal of Rajputana Properties Private Ltd, originally declared as the highest bidder (H1),
Tax boost for real estate | Business Standard Editorials
The Goods and Services Tax (GST) Council has provided a big relief to the real estate industry by cutting the rate on under-construction housing to
Insolvency & Bankruptcy code: Govt looking at ways to avoid frivolous bids | Business Standard News
It is being considered whether criminal proceedings should be initiated against those not implementing resolution plans or should they be barred from bidding for other
Lessons from RCom mess: Exit of the weak boosts profits for the survivors | Business Standard Column
In his column in Business Standard on Saturday, T N Ninan showed the gloomy environment of private businessmen facing difficulties. There are major difficulties in the Indian arrangements of
IBC reigns supreme over other civil laws, says Delhi High Court | Business Standard News
The Delhi High Court on Friday upheld the supremacy of Insolvency and Bankruptcy Code (IBC) over other civil laws such as those of contracts and
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