GoM to look into anomaly in GST collection in states: Jaitley

Sunday, 23 December 2018 09:17
The Goods and Services Tax (GST) Council on Saturday decided to form a seven-member Group of Ministers (GoM) to study anomalies in tax collection in some of the states which showed wide deviation from what was expected. “The Council has…

Tax advocates approach Government to rectify mistakes in GST returns

Friday, 21 December 2018 09:24
Citing procedural difficulties due to absence of clarity, the All India Tax Advocates Forum (AITAF) on Thursday urged the Finance Minister to allow assessees to rectify mistakes incurred in their monthly GST returns in the Annual Return form GSTR 9…

New RBI Governor completes consultations with state-run banks

Thursday, 20 December 2018 19:29
New RBI Governor Shaktikanta Das has completed his consultations with heads of state-run banks, he said on Wednesday. Das, who had earlier served in the government as Economic Affairs Secretary, took charge at the Reserve Bank of India (RBI) last…

TCS offers private cloud to enterprises in Canada

Thursday, 20 December 2018 09:21
Indian IT bellwether Tata Consultancy Services (TCS) on Wednesday unveiled a new private cloud in Canada to help enterprises move into the digital space. “Our enterprise cloud platform is a dynamic solution stack that provides multiple and flexible options, including…

India lost 4% of GDP from power distortions in 2016: World Bank

Thursday, 20 December 2018 09:20
India lost a staggering $86.1 billion, equivalent to over 4 per cent of its GDP, owing to distortions in the power sector in 2016, says a World Bank report released on Wednesday. The report tiltled ‘In the Dark: How much…

Boeing forecasts demand for 2,300 new aircraft in India over next 20 years

Wednesday, 19 December 2018 16:09
Global aerospace major Boeing expects a demand for 2,300 new aircraft in India, valued at $320 billion, over the next 20 years. According to the company’s 2018 Commercial Market Outlook (CMO) for India, factors such as rise in GDP output…

RBI to scale up securities purchase in December

Wednesday, 19 December 2018 09:05
The Reserve Bank of India (RBI) on Tuesday said on review of the evolving liquidity conditions, it has decided to scale up the amounts to be purchased in the remaining two OMO (Open Market Operation) auctions scheduled in December 2018…

Biggest bank fraud and RBI Governor’s resignation mark a dismal banking year

Tuesday, 18 December 2018 16:11
The year leading up to the 2019 general elections was defined by a slowdown in investment, slackening growth, falling GST revenues, the biggest bank fraud and a credit crunch that provoked the most significant crisis in government-RBI relations. It was…

GST on recycled construction waste products to be reduced to 5 per cent

Tuesday, 18 December 2018 16:02
In a bid to promote reuse of debris generated by the construction industry, the government will soon reduce the Goods and Services Tax (GST) on products made from recycled demolition waste to five per cent. Currently, the recycled products —…

HC rejects plea challenging LIC acquiring 51 per cent stake in IDBI

Tuesday, 18 December 2018 08:36
The Delhi High Court on Monday dismissed a plea challenging the LIC move to acquire 51 per cent stake in the government-owned IDBI Bank. Justice Vibhu Bakhru dismissed the All India IDBI Officers Association plea challenging LIC purchasing the stake…