After the 16th GST Council meet, Finance Minister, Arun Jaitley announced the revised rates of 66 items as against representations received for 133 items. After a press meet, Arun Jaitley addressed to the media and said that the new revisions have been made after getting feedback from the industry players. He[Read More…]
The state-run Bharat Sanchar Nigam Limited (BSNL), in collaboration with the Universal Service Obligation Fund (USOF), is going to set up 25,000 Wi-Fi hotspots in its rural exchanges by next six months. The memorandum of understanding (MoU) was signed on Friday in the presence of Communications Minister, Manoj Sinha. According[Read More…]
With the roll-out of the Goods and Service Tax (GST) regime from July 1, the tax waiver to films by the Haryana government will be a thing of past. However, if the state waives tax on a movie, it will not only lose its own share of the GST, but will[Read More…]
Finance Minister Arun Jaitley indicated that it may take long for the people to know the actual deposits received in old notes post-demonetization. However, he said that there can be no deadline as the RBI has to count deposits in the range of Rs 14-15 lakh crore. “Let us be[Read More…]
On Monday, Prime Minister Narendra Modi, in view of the Goods and Services Tax (GST) said that the roll-out of the new indirect tax regime from July 1 will be a turning point for the economy. Notably, this was the first PM’s review on the freshly finalised rates by the[Read More…]
A meeting of the 15th Goods and Services Tax (GST) Council began at the Vigyan Bhavan, Delhi, on Saturday to finalise the taxes to be levied on Six commodities, including, gold, textiles, footwear, agriculture, handloom and handicrafts. Here are the highlights: Rate for gold, gems and jewellery fixed at 3%[Read More…]
On Wednesday, Prime Minister Narendra Modi met CEOs of top Spanish companies and invited them to join the country’s flagship initiatives like ‘Make in India’, saying they could tap the huge market in the fast-growing economy. “Met top CEOs of the Spanish industry and urged them to explore the economic[Read More…]
As part of its CSR (corporate social responsibility) campaign, Maruti Suzuki will invest Rs 6 crore to start 15 Automobile Skill Enhancement Centres (ASEC) by August 2017. These centres will be operated in partnership with government-run ITIs (Industrial Training Institute) across 11 states in the country. The first out of[Read More…]
Should you buy a new car now Or after GST is rolled out? India is finally on the verge of having a simplified taxation system. But before the Goods & Service Tax (GST) comes into effect on July 1, 2017 (proposed), and replaces multiple state and central taxes with a[Read More…]
The Goods and service council on Thursday decided the GST rates for 1,211 items, a majority kept at 18%, though the rates on gold and beedi remained undecided. The Centre also chose to lower the incidence of tax on mass-use items to ensure that prices come down in the new[Read More…]
Paytm is ready to buy rival digital payment platform FreeCharge as it has signed a non-exclusive term sheet to acquire it. It is set to buy this Snapdeal-owned company, in what is expected to be an all-cash deal. According to people who are closely associated with the developments, Paytm will[Read More…]
Bitcoin towered an all-time high above $1,400 on Tuesday which is technically more than triple of its value over the past year. This comes alongside the recent rise in demand for the service in Japan, where the digital currency has been considered a legitimate means of payment. Bitcoin rose around[Read More…]
Railway Minister Suresh Prabhu has ruled out the possibility privatisation of Indian Railways. He also said that the railways will have to bear the public service obligation – which is currently between Rs 30,000 and 35,000 crore – for the foreseeable future. “This cannot be done in India. I think[Read More…]
India was the fifth largest military spender in 2016. India’s military expenditure for 2016-17 was $55.9 billion, according to a report by Stockholm International Peace Research Institute (SIPRI). For 2017-18, the Union Budget allocated a defence budget of Rs. 3,59,854.12 crore (US$ 53.5 billion) to the Ministry of Defence (MoD).[Read More…]
Central government told Delhi High Court on Monday that Aadhaar was made mandatory to ensure the poor get subsidised foodgrains under the public distribution system (PDS). “Aadhaar is mandatory for PDS, as this system is mostly misused in our country. The subsidised foodgrains were not reaching the poor. Someone else[Read More…]
Tamizhar Desiya Amaippu activists on Saturday staged a demonstration in Tamil Nadu’s Rameswaram to condemn the attacks on Tamil Nadu fishermen allegedly by the Sri Lankan Navy. The organisation’s leader Pazha Nedumaran alleged that nearly 700 Tamil fishermen had already been killed by the Lankan Navy and no compensation has[Read More…]
The Apex Court on Friday said that it will decide on whether Aadhaar card can be made mandatory for filing of Income Tax returns, next week. In addition, the Supreme Court also asked the government to explain the purpose for making Aadhaar card mandatory for IT returns. The Supreme Court[Read More…]
SBI Card has started charging Rs 100 for payment through cheque if the amount is up to Rs 2,000 and anything above will attract no fee. “A fee of Rs 100 will be charged for payments made by cheque for an amount less than or equal to Rs 2,000 w.e.f[Read More…]
Punjab state government has set up an expert group to waive loans of farmers in the state. Dr T Haque, former chairman, Commission for Agricultural Costs and Prices, has been appointed chairman of the group. The other two members of the group are Dr Pramod Kumar Joshi, Director (South Asia),[Read More…]