Only 16% of initial GST returns filed for July-Dec matched with final returns

Only 16% of initial GST returns filed for July-Dec matched with final returns With only 16 per cent of the summary sales returns under GST matching with the final returns, the revenue department has started to analyse major gaps with a view to check any possible tax evasion. According to the GST returns data, 34 […]

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E-wallet will address GST refund issue of exporters

E-wallet will address GST refund issue of exporters Introduction of e-wallet mechanism will effectively address the woes of exporters who have been complaining of delays in refund of taxes under the GST regime, Commerce and Industry Minister Suresh Prabhu said. Under the e-wallet mechanism, a notional credit would be transferred to exporters’ accounts based on […]

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IBC amendment: Language may hold the key to who can bid

IBC amendment: Language may hold the key to who can bid As the government gears up for major changes in the Insolvency and Bankruptcy Code (IBC), those close to drafting these revisions believe the focus is now on getting the language right for ‘’greater clarity’’ in the rulebook While the basic premise and spirit of […]

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Investment promotion scheme: Notices to Centre, Rajasthan govt, GST Council

Investment promotion scheme: Notices to Centre, Rajasthan govt, GST Council The Rajasthan Investment Promotion Scheme, announced in October 2014, had given exemption from entertainment tax up to 50 % to multiplexes, water and theme parks, among other sectors for 7 years Businesses have moved courts against the Rajasthan government’s decision to not extend benefits earlier […]

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TRAI consultation paper on revamping MNP scheme by month-end

TRAI consultation paper on revamping MNP scheme by month-end The process of network port-out is set to become faster and simpler for mobile subscribers, as the Telecom Regulatory Authority of India is planning to initiate a review of the Mobile Number Portability (MNP) mechanism. It will issue, by the month-end, a consultation paper that will […]

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India should engage with key trading partners if global trade war escalates: Assocham

India should engage with key trading partners if global trade war escalates: Assocham India should engage bilaterally with its key trading partners to promote exports if the world witnesses an escalation of trade war, industry chamber Assocham today said. It said that higher level of imports than exports will not provide the country much space […]

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