Clipped from: https://www.business-standard.com/article/economy-policy/rbi-prepared-to-spend-100-bn-more-for-defending-rupee-says-report-122072000412_1.html Most analysts and traders believe worst is yet to come for the rupee, despite the RBI’s intent to defend the currency and India’s
Month: July 2022
Renting apartments gets costlier for companies with new GST rates in effect | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/renting-apartment-get-costlier-for-companies-with-new-gst-rates-in-effect-122072000598_1.html The rent of apartments for top executives will attract an 18 per cent Goods and Services Tax (GST) As the revised rates of GST after
CAIT to states: Withdraw 5% GST on unbranded food items | The Financial Express
Clipped from: https://www.financialexpress.com/industry/sme/msme-eodb-cait-to-states-withdraw-5-gst-on-unbranded-food-items/2600745/ Ease of Doing Business for MSMEs: According to CAIT, 85 per cent of the country’s population buy unbranded items and hence, the decision
Govt plans short-term foreign trade policy, may release before September | Business Standard News
lipped from: https://www.business-standard.com/article/economy-policy/govt-plans-short-term-foreign-trade-policy-may-release-before-september-122072001235_1.html The new policy is much-awaited, following the extension of the existing policy for more than two years A new FTP was deferred and
*******HC explains Provisions of Section 148A of Income Tax Act, 1961–TAXGURU.IN
Clipped from: https://taxguru.in/income-tax/hc-explains-provisions-section-148a-income-tax-act-1961.html?utm_source=feedburner&utm_medium=email Abdul Majeed Vs ITO (Rajasthan High Court) High Court held that while passing an order under Section 148A of the Act, the authority
*******FAQ’s on AIS (Annual Information Statement)–TAXGURU.IN
lipped from: https://taxguru.in/income-tax/faqs-ais-annual-information-statement.html?utm_source=feedburner&utm_medium=email Q-1 What is Annual Information Statement (AIS)? Ans. Annual Information Statement (AIS) is comprehensive view of information for a taxpayer displayed in Form
*******Extended period of limitation cannot be invoked in absence of willful misstatement/suppression of fact–TAXGURU.IN
Clipped from: https://taxguru.in/excise-duty/extended-period-limitation-invoked-absence-wilful-misstatement-suppression-fact.html?utm_source=feedburner&utm_medium=email Commissioner of Service Tax Vs Surya Vistacom Private Limited (Calcutta High Court) Held that the conclusion that mere non-payment of duties is not
*******Demand of service tax, merely on the basis of TDS/ 26AS statement, unsustainable–TAXGURU.com
Clipped from: https://taxguru.in/service-tax/demand-service-tax-merely-basis-of-tds-26as-statement-unsustainable.html?utm_source=feedburner&utm_medium=email Forward Resources Pvt. Ltd. Vs C.C.E. (CESTAT Ahmedabad) Held that the demand of services tax is not sustainable on the basis of TDS /26AS statements.
*Rupee at 80: How top Indian companies hedged themselves for dollar | Business Standard News
Clipped from: https://www.business-standard.com/article/finance/rupee-at-80-how-top-indian-companies-hedged-themselves-for-dollar-122071900335_1.html?code=NTM4OTU9MTIyMDcxOTAwMzM1 Reliance Industries, the Tata group, Bharti Airtel, Aditya Birla among conglomerates that took forward positions Photo: Bloomberg Reliance Industries, the Tata group, Bharti Airtel and Aditya
Urban co-operative banks to have four-tiered regulatory framework: RBI | Business Standard News
Clipped from: https://www.business-standard.com/article/finance/rbi-announces-four-tiered-regulatory-framework-for-urban-co-op-banks-122071901245_1.html?code=NTM4OTU9MTIyMDcxOTAxMjQ1 An expert committee, headed by former RBI deputy governor N S Vishwanathan, had made a host of recommendations for strengthening the UCBs Photo:
Rupee at 80 to the dollar: Forex deficit to hurt India Inc’s margins | Business Standard News
Clipped from: https://www.business-standard.com/article/finance/rupee-at-80-to-the-dollar-forex-deficit-to-hurt-india-inc-s-margins-122071900359_1.html?code=NTM4OTU9MTIyMDcxOTAwMzU5 As the rupee touches the 80-mark against the dollar, this depreciation is likely to prove expensive for corporate India The Indian currency has
*Companies make over 25 kg packs to avoid 5% GST – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/cons-products/fmcg/companies-make-over-25-kg-packs-to-avoid-5-gst/articleshow/92989805.cms Synopsis The CBIC on Sunday clarified that pre-packaged food items weighing more than 25 kg in a single packet would be exempted from
*Infy, Tech Mahindra et al. have dipped their toes in metaverse waters. Can they cash in on the mania? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/prime/technology-and-startups/infy-tech-mahindra-et-al-have-dipped-their-toes-in-metaverse-waters-can-they-cash-in-on-the-mania/primearticleshow/92989378.cms SynopsisInfosys, Tech Mahindra have carved out special centres to cash in on the metaverse mania which promises to offer around 12% higher gross
RBI, Centre could take steps to halt currency slide – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/rbi-centre-could-take-steps-to-halt-currency-slide/articleshow/92991405.cms Synopsis This year, the rupee has fallen about 8% to breach the 80 mark to the dollar amid an unprecedented surge in the
Fuel Windfall Tax: India cuts windfall taxes on fuel exports as global prices fall – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/energy/oil-gas/india-cuts-windfall-taxes-on-fuel-exports-as-global-prices-fall/articleshow/92991503.cms Synopsis New Delhi reduced the windfall tax on diesel and aviation fuel shipments by Rs 2 a liter, and scrapped completely a Rs
Rupee may fall to 81 against US dollar amid widening trade deficit, risk-off sentiments and FII outflows | The Financial Express
Clipped from: https://www.financialexpress.com/market/rupee-may-fall-to-81-against-us-dollar-amid-widening-trade-deficit-risk-off-sentiments-and-fii-outflows/2598771/?ref=Must_Read The Indian Rupee depreciated further on Tuesday to breach the psychological mark of 80 for the first time ever. Amid tightening monetary conditions
The rupee at 80: On the CAD front, the good news is RBI’s plan to permit invoicing in rupees | The Financial Express
Clipped from: https://www.financialexpress.com/opinion/the-rupee-at-80-on-the-cad-front-the-good-news-is-rbis-plan-to-permit-invoicing-in-rupees/2599360/ Another point on the reserves is that they comprise FCA plus about $40 billion of gold, about $18 billion of SDR and $5
Tax Talk: Know when income tax return form ITR-1 is not for you | The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/tax-talk-know-when-income-tax-return-form-itr-1-is-not-for-you/2599307/ If an assessee uses the wrong ITR form, the return file will be considered a defective return and may trigger an I-T notice.
Assuring health for 1.4 billion Indians: Robust public health system is the need of the hour | The Financial Express
Clipped from: https://www.financialexpress.com/opinion/assuring-health-for-1-4-billion-indians-robust-public-health-system-is-the-need-of-the-hour/2599361/ Covering the needs of the world’s largest population calls for a robust public health system. Ayushman Bharat has elements of the health system
The rupee challenge: RBI need not defend rupee and should hike rates only to the extent needed to tame inflation | The Financial Express
Clipped from: https://www.financialexpress.com/opinion/the-rupee-challenge-rbi-need-not-defend-rupee-and-should-hike-rates-only-to-the-extent-needed-to-tame-inflation/2599335/ RBI believes the rupee is fairly valued and would not be uncomfortable with the rupee depreciating to levels just beyond the 80 mark,
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