Clipped from: https://economictimes.indiatimes.com/opinion/et-editorial/passing-on-the-oil-tax-giveaway-parcel/articleshow/92638926.cms Synopsis Domestic crude oil producers, which supply around 15% of the demand, have been realising better prices since the Ukraine conflict broke out.
Month: July 2022
*Why has the govt eased norms for Indians to receive more money from relatives abroad, but hiked import duty on gold? | Explained News,The Indian Express
Clipped from: https://indianexpress.com/article/explained/explained-govt-eased-norms-indians-receive-money-relatives-abroad-hiked-import-duty-gold-8006940/ Both the steps, taken in a matter of two days, are aimed at curbing the outflow of funds and on the other hand
*Not by cess | The Indian Express
Clipped from: https://indianexpress.com/article/opinion/editorials/wheat-shipments-15-per-cent-duty-on-gold-imp orts-cesses-on-fuel-exports-8005895/ Ban on wheat shipments, 15 per cent duty on gold imports, cesses on fuel exports — decisions show short-termism No less backward-looking
*Tax rate changes decided by the GST Council–INDIAN EXPRESS
lipped from: https://indianexpress.com/article/explained/explained-tax-rate-changes-decided-by-the-gst-council-8006633/ In the changes, which are expected to affect consumers at the most basic level, GST exemption has been withdrawn from ‘pre-packaged and labelled’
*Useful recommendations of GST Council for exporters | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/useful-recommendations-of-gst-council-for-exporters-122070400027_1.html The present exemption of IGST on import of goods under advance authorisation, Export Promotion Capital Goods (EPCG) authorisation and by Export-Oriented Units will
*Capex for revival | Business Standard Editorials
Clipped from: https://www.business-standard.com/article/opinion/capex-for-revival-122070301025_1.html Govt has done well to increase expenditure The biggest challenge for Indian policymakers at the moment is to lead the economy to a
*Resilient amid risks – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/as-the-rbi-points-out-the-crisis-in-npas-and-nbfcs-has-been-alleviated-but-fintech-poses-a-problem/article65595740.ece As the RBI points out, the crisis in NPAs and NBFCs has been alleviated but fintech poses a problem The key takeaway from
Birthing an unbiased GST tribunal – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/business-laws/birthing-an-unbiased-gst-tribunal/article65595345.ece Why it would pay to emulate the unique voting pattern of the GST council One issue related to the Goods and Services Tax
*Resolution delayed is… – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/business-laws/resolution-delayed-is/article65595361.ece How ailing corporate entities can benefit more from the proposed changes in timeline for insolvency resolution The Insolvency and Bankruptcy Board of India
Has GST delivered on its promises? – The Hindu BusinessLine
Watch | Explained: Has GST delivered on its promises? – The Hindu BusinessLine https://www.thehindubusinessline.com/multimedia/video/watch-explained-has-gst-delivered-on-its-promises/article65589087.eceWatch | Explained: Has GST delivered on its promises? – The Hindu
Sectoral impact of the GST Council’s decisions – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/sectoral-impact-of-the-gst-councils-decisions/article65596381.ece The recent decisions will go a long way in simplifying the indirect tax system The 47th GST Council concluded in line with industry
*e-invoicing for businesses with a turnover exceeding ₹10 cr soon; ₹5 cr or more next – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/e-invoicing-soon-for-businesses-with-a-turnover-exceeding-10-cr-5-cr-or-more-next/article65594972.ece Firms not complying with e-invoicing will be considered invalid and not be eligible for ITC Businesses with an annual turnover of more than
Finance Ministry hopes cess will not hit petroleum exports in FY23 | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/centre-hopes-fuel-cess-will-not-hit-merchandise-exports-in-fy23-122070300813_1.html The ministry imposed cess on petroleum products of Rs 6 a litre, Rs 13 per litre and Rs 6 on petrol, diesel and
*****Huge treasury loss staring at banks in June quarter | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/huge-treasury-loss-staring-at-banks-in-june-quarter-122070300581_1.html Will the RBI step in again to the rescue of the banks and ensure smooth sailing of the government’s record borrowing plan this
A tax comes of age: Five years since rollout, areas where GST needs retouch and improvement – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/a-tax-comes-of-age-five-years-since-rollout-areas-where-gst-needs-retouch-and-improvement/articleshow/92623697.cms Synopsis There have been hits — a total digitisation of tax compliance infra and e-invoicing, robust revenue collection, and near-consensus decision despite a
CAD likely to double in FY23; rupee seen crossing 80/$: Economists – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/indicators/despite-higher-taxes-on-gold-imports-current-account-deficit-to-more-than-double-reports/articleshow/92635581.cms Synopsis While the export duty on oil could improve govt finances marginally, the raising of import costs for gold is unlikely to curb
Windfall tax to recoup most of Rs 1 lakh cr revenue lost in excise cuts | The Financial Express
Clipped from: https://www.financialexpress.com/economy/windfall-tax-to-recoup-most-of-rs-1-lakh-cr-revenue-lost-in-excise-cuts/2580885/ India on July 1 joined a select league of nations globally that have taxed windfall gains accruing to oil companies from soaring energy
*Labour codes not to kick in from Friday even as states, UTs frame rules | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/labour-codes-not-to-kick-in-from-friday-as-states-uts-frame-rules-122063001190_1.html The Centre has already finalised rules on all the four codes Once implemented, the codes will replace 29 existing labour laws. The Union
*Twin deficit problem: What does it mean and how does it affect an economy? | Business Standard News
Clipped from: https://www.business-standard.com/podcast/finance/what-is-a-twin-deficit-problem-122062300077_1.html The finance ministry recently said that India is at low risk of stagflation. But it also cautioned about a twin deficit problem that
*The rupee’s ‘new lows’: Why it’s not necessarily a cause for concern | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/the-rupee-s-new-lows-why-it-s-not-necessarily-a-cause-for-concern-122070101203_1.html The framers of a ‘strong currency’ policy ignore that almost every country with a successful long-term record of development has pursued a ‘weak
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