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Published: October 10, 2017 7:41:55 AM

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Irani accuses Rahul Gandhi of insulting people of Gujarat

Union minister Smriti Irani today accused Rahul Gandhi of “insulting” the people of Gujarat and claimed that the Congress will suffer what she called a “historic defeat” in the upcoming assembly polls. Irani’s attack on the Congress vice president came after he mocked the BJP’s development model in Gujarat at his public meetings in the poil-bound state. Gandhi’s remarks confirm that he is not only anti- progress but also mocks the idea of a developed and empowered India, she alleged in a statement, adding that he and his party prefer vote bank politics to ‘vikas’ (development). “The manner in which Rahul Gandhi has made fun of the dreams and aspirations of the people of Gujarat will lead to a historic defeat for the Congress party in the state election,” said the Union minister for textiles and information and broadcasting in a statement.

14 lakh biz yet to file July GSTR-1, no extension of due date

The government today asked 14 lakh businesses to file final GST returns for the month of July by tomorrow and announced that the due date of October 10 will not be extended further. Till 1900 hours today, 39 lakh businesses had filed the final sales returns or GSTR-1 out of 53 lakh who are scheduled to submit the tax form. GST Network (GSTN), the IT backbone for the new indirect tax regime, has sent reminder SMS and emails twice to the businesses who have not filed their GSTR-1. The government has already extended the deadline for filing GSTR-1 for July by two months. “There will be no further extension given to taxpayers for filing their GSTR-1 return for July. Taxpayers who have not yet filed their GSTR-1 for July are advised to do so immediately,” the finance ministry said in a statement.

GST returns: Huge chunk of taxpayers still to file, slow pace to be probed

Puzzled that sizeable sections of eligible assessees are yet to file even the interim summarised return (GSTR-3B) for July and August, the revenue department has instructed field formations to conduct surveys and find out the reasons for the same. Of the 65 lakh eligible taxpayers, only 53.5 lakh (82%) and 46.5 lakh (75%) had filed GSTR-3B — which entails tax payment — for July and August, respectively, till last Friday. Government officials say that delay in filing GSTR-3B would have an adverse bearing on filing the comprehensive GSTR-1 return, the deadline for which ends on October 10 for July GST. The deadlines for filing invoice-level returns (GSTR-1, GSTR-2, GSTR-3) have already been extended twice.

Black money crackdown: No relief for well-know names, says Centre

Prominent business and political leaders who have been disqualified for five years from being directors of any company following a massive crackdown on suspected shell firms they were a part of are unlikely to get any “special and easy” relief from the government, a senior official told FE. The move could have significant ramifications, as top business leaders, including Pawan Goenka (Mahindra & Mahindra), S Sridhar (DCB Bank), Vinod Kumar Dasari (Ashok Leyland), NRI businessman Yusufali MA, GV Krishna (Hindustan Petroleum) and leading consultant Rama Bijapurkar, reportedly feature in the list of disqualified directors. If the disqualification is strictly enforced, they have to quit boards of the big, operating companies they represent now. Even politicians like Omar

Noida homebuyers to get their flats fast? Here is what Authority has done

In a bid to achieve the target of delivering 16,000 flats to buyers in three months, the Noida Authority has decided to reintroduce its reschedulement policy till November to provide a window for the builders of group housing projects who are yet to pay outstanding dues.The reshedulement policy was introduced last year, but it had lapsed in December 2016. The realtor is provided with a rescheduled payment policy for dues against the land cost if a builder has completed a project but is unable to get a completion certificate. Further, in cases where buyers are unable to register their properties, builders will have to deposit 10% of the amount due instead of the current 25%.

Car sales soar in festive season; the jump in numbers is massive

Riding on the popularity of sports utility vehicles and festive season purchases, domestic passenger vehicle sales in September grew by 11.32% to 3,09,955 units, Society of Indian Automobile Manufacturers (Siam) said on Monday. Overall vehicle sales across categories registered 10% growth to 24,90,034 units, from 22,63,620 in September 2016. “The automobile industry at the moment is looking at improvement in all segments from last year,” Siam president Abhay Firodia said. He said that although the auto industry has faced difficulties in the wake of demonetisation, transition from BS-III to BS-IV fuel norms and uncertainty of goods and services implementation, it has recovered from those tough times. “Now it is on the mending path. We hope that this momentum will be maintained,” he said.

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