CIC raps GSTN for lack of order, seeks clarity on info disclosure

CIC raps GSTN for lack of order, seeks clarity on info disclosure Goods and Services Tax Network (GSTN), the IT backbone of the new tax regime, has attracted the ire of Central Information Commission (CIC), which has directed the company to set its house in order and update information in public domain. CIC has taken […]

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Government borrowing cost likely to fall, thanks to EPFO

Government borrowing cost likely to fall, thanks to EPFO Borrowing costs for the Centre and the states may reduce in FY19 after India allowed the country’s biggest buyer of organized debt to buy less of corporate bonds and increase instead the allocations toward sovereign paper. The Employees’ Provident Fund Organisation (EPFO), which manages more than […]

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Taxmen asked to step up collections to meet higher target

Taxmen asked to step up collections to meet higher target Faced with a daunting target of Rs 10.05 lakh crore, the apex decision-making body for direct taxes, CBDT, has asked its field officers to step up efforts and put more focus on better performing zones. In the 2018-19 Budget, the government hiked the direct tax, […]

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Govt ropes in IIFT, ICAI to improve ease of doing business ranking

Govt ropes in IIFT, ICAI to improve ease of doing business ranking Commerce and industry ministry has appointed four institutes, including IIFT and ICAI, to interact with stakeholders and suggest measures to push India’s ranking in World Bank’s ease of doing business index Commerce and industry ministry has appointed four institutes, including IIFT and ICAI, […]

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70% IGST refund stuck due to flawed claims filed by exporters: CBEC

70% IGST refund stuck due to flawed claims filed by exporters: CBEC As about 70 per cent of GST refunds stuck due to flawed information, the CBEC has asked exporters to amend the details in the final returns of subsequent month to enable the department to process the refund claims by March. The Central Board […]

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E-way bill may be relaxed for e-commerce players if orders are small

E-way bill may be relaxed for e-commerce players if orders are small It is not clear if separate e-way bills for multiple orders are required if the same vehicle carries the consignments E-commerce players such as Amazon and Flipkart may get exemption from having to generate an electronic-way bill (e-way bill) under the goods and […]

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