Banks to negotiate only with top bidder in insolvency cases

Banks to negotiate only with top bidder in insolvency cases Bankers have decided that they will negotiate only with the highest bidder when resolving cases of corporate insolvency. The decision was taken at a meeting held by the Indian Banks’ Association on Monday following consultations with the Insolvency and Bankruptcy Board of India and resolution […]

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BUDGET SHOULD FOCUS ON ECONOMIC JOB GROWTH, SAYS CHIDAMBARAM

BUDGET SHOULD FOCUS ON ECONOMIC JOB GROWTH, SAYS CHIDAMBARAM The fifth and last Budget of the Narendra Modi government would need to address the problem of economic growth and meet the challenge of creating jobs, senior Congress leader P Chidambaram and former deputy chairman of the erstwhile Planning Commission Montek Singh Ahluwalia said on Tuesday. […]

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PM EMPLOYMENT SCHEME ALLOCATION MAY BE HALVED

PM EMPLOYMENT SCHEME ALLOCATION MAY BE HALVED FinMin had informed labour min of reduction in budgetary support to PMRPY to Rs. 5 billion in RE The finance ministry may likely trim budgetary support towards the Pradhan Mantri Rojgar Protsahan Yojana (PMRPY), a flagship programme for incentivising job creation, substantially for the present fiscal year in […]

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EPFO: Firms can pay dues, update ownership details

EPFO: Firms can pay dues, update ownership details Taking another step towards going paperless, retirement fund body Employees’ Provident Fund Organisation (EPFO) on Tuesday said it has launched facilities for employers to pay dues and update ownership deatils online. the EPFO has provided facility of online submission of Form 5A (Return of Ownership), it said […]

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Tax uncertainty over insolvency deals likely to go

Tax uncertainty over insolvency deals likely to go The government may consider resolving two of the biggest tax roadblocks looming over a successful conclusion of the insolvency process in the upcoming Budget, two people close to the development said. The government may allow carrying forward of losses for eight years for buyers of companies in […]

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Single GST registration for airlines, banks on the anvil

Single GST registration for airlines, banks on the anvil The government is considering a nationwide single GST registration process for the aviation, banking and insurance sectors, people in the know of the matter said. A single registration will potentially solve a majority of the compliance problems that services companies have been complaining about. They now […]

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Need to stabilise GST implementation to facilitate easier compliance: Economic Survey

Need to stabilise GST implementation to facilitate easier compliance: Economic Survey India needs to work towards stabilising the goods and services tax, removing uncertainties for sectors such as exports, the Economic Survey said while pitching for a review of tax embedding caused by the exclusion of some products from the ambit of the new levy. […]

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