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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EPFO’s investment in corporate debt to reduce to 20%

EPFO’s investment in corporate debt to reduce to 20% 2017-18, the EPFO is estimated to receive Rs 1.28 trillion as contribution from employees The Employees’ Provident Fund Organisation (EPFO) will substantially reduce investing its incremental income in debt instruments due to paucity of corporate bonds in the market. The government had decided that EPFO will […]

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Errors in GST returns filing a hurdle in issuing tax refunds to exporters: CBEC

Errors in GST returns filing a hurdle in issuing tax refunds to exporters: CBEC Errors in GST returns, pertaining to either the summary of transactions, purchases, sales or a comprehensive filing of transactions are causing delays in processing claims, says CBEC chief Vanaja SarnaErrors in GST returns filing are coming in the way of disbursing […]

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RBI releases ombudsman scheme for NBFCs

RBI releases ombudsman scheme for NBFCs An RBI officer, not below the rank of general manager, will be appointed by the regulator as the ombudsman with territorial jurisdiction being specified by RBI The Reserve Bank of India (RBI) on Friday issued an ombudsman scheme for non-banking finance companies (NBFCs), offering a grievance redressal mechanism for […]

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