Congress leader and former Finance Minister P Chidambaram on Friday credited the finance ministers of his party in six states for sorting out "the mess" created by the government on GST implementation
The GST Council raised the tax exemption threshold for over 20 lakh GST-registrant businesses to Rs 40 lakh from the current Rs 20 lakh. Here is a list of five key decision taken in the meeting.
Finance Minister Arun Jaitley on Thursday said that the GST Council has increased the turnover limit for businesses availing composition scheme to Rs 1.5 crore from Rs 1 crore at present starting Apri
The office of U.S. Trade Representative Robert Lighthizer said it wants any deal to include “ongoing verification and effective enforcement” and the U.S. will decide on next steps after officials
Just about 10 lakh tonnes or 3% of the summer crop output of 314 lakh tonnes were procured by the national-level procurer Nafed as on January 3 and it may end up buying 16 lakh tonnes (5%) or thereabo
In its 32nd meeting on Thursday, the Goods and Services Tax (GST) Council will likely consider several proposals aimed at providing relief to smaller taxpayers — a segment that is believed to be str
The government detected indirect tax evasion of over Rs 48,500 crore in April-December this fiscal, up 50% from such detection in the whole of FY 2017-18.
Prabhu also highlighted the declining trend of export credit in recent months and suggested that banks may be asked to encourage flow of credit to the export sector particularly to MSMEs for generatin
A month after the GST went into effect in July 2017, a little over 7% of taxpayers failed to comply with the requirement that every business with annual turnover of 7.5 million rupees ($108,000) or mo
While India is a young nation compared to China and US, a recent report by SBI predicts that the country might be heading towards a population divide by age within, with a younger North and an elder S
A parliamentary panel asked the Reserve Bank of India (RBI) to look into the problem of dysfunctionality as well as the shortage of ATMs so that “a forced cash crunch is not imposed on the public”
Noting that the majority of low-income countries would be impacted, she said that they would be hard-hit by a sudden weakening in trade or by global financial conditions worsening.
A recent study of over 500 wealthy Indians with a net worth of above Rs 6.5 crore shows that most of the talent is home grown, with only less than a fifth of them opting to go to a foreign university
India is expected to emerge as the third largest consumer market, just behind the US and China, WEF said in a report titled 'Future of Consumption in Fast-Growth Consumer Market – India'.
The World Bank has projected moderation of global growth from three per cent last year to 2.9 per cent this year, as one of its top officials described the current situation of the world economy as "d
India's GDP is expected to grow at 7.3 per cent in the fiscal year 2018-19, and 7.5 per cent in the following two years, the World Bank has forecast, attributing it to an upswing in consumption and in
The common perception is that President Xi Jinping’s flagship foreign policy initiative is an ambitious program deploying trillions of dollars on necessary infrastructure in emerging Asian and Afric
Multinational biotech companies that feared a premature closure of the potentially exponential Indian market for their genetically-modified plant seed technologies saw a ray of hope on Tuesday, with t
Expressing concern over the Centre’s increasing reliance on off-Budget financing, the Comptroller and Auditor General of India (CAG) on Tuesday said off-budget capex and revenue expenditures underst
