E-way bill may fail to deliver the goods, fear etail firms

E-way bill may fail to deliver the goods, fear etail firms With days left for the rollout of the intra-state e-way bill on February 1, several logistics and ecommerce companies are seeking clarifications on the new system, fearing operational inefficiencies and supply-chain disruptions. These companies have written to GST Council, particularly seeking clarity on a […]

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Govt levies 10% import duty on key smartphone parts to push Make in India

Govt levies 10% import duty on key smartphone parts to push Make in India A 10% customs tax was also imposed on the imports of camera modules for phones and connectorsIndia has imposed a 10 per cent tax on imports of key smartphone components including populated printed circuit boards, which are at the heart of […]

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Commerce ministry seeks views on industrial policy

Commerce ministry seeks views on industrial policy The commerce ministry has circulated a draft cabinet note seeking views of different departments on the proposed industrial policy that aims to promote emerging sectors, Union minister Suresh Prabhu said.”We have circulated (the draft policy) to all the ministries for their views,” the commerce and industry minister told […]

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Govt rules out excise duty cut to cushion petrol prices

Govt rules out excise duty cut to cushion petrol prices The government today ruled out any immediate reduction in excise duty to cushion relentless rise in international oil prices that have sent retail diesel rates in India to record high and petrol to four-year high. The BJP-led government had raised excise duty nine times between […]

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SEBI bans First Financial Services, 28 others for 3 years

SEBI bans First Financial Services, 28 others for 3 years Sebi today barred First Financial ServicesBSE -4.89 % and 28 others from the markets for three years for orchestrating a fraudulent scheme involving preferential allotment route, which ultimately benefited a few allottees. The move follows Securities Appellate Tribunal’s (SAT) directive to Sebi for passing the […]

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RBI allows banks to spread bond trading losses over four quarters

RBI allows banks to spread bond trading losses over four quarters The Reserve Bank of India took a U-turn in its rigid position on provisioning norms for banks suffering losses from bonds trading by permitting the lenders to spread out their trading losses over four quarters that would save them from scrambling for funds to […]

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Legacy of exemptions: Court issues notices to Centre, GSTC

Legacy of exemptions: Court issues notices to Centre, GSTC Under the erstwhile tax regime, capital goods that went into production of goods in the states which used to give area-based exemptions were not given input tax credit Lacunae related to removal of area-based exemptions under the goods and services tax (GST) have become a bone […]

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Inclusion of petrol and diesel in the GST will help consumers pay a rational price: Dharmendra Pradhan

Inclusion of petrol and diesel in the GST will help consumers pay a rational price: Dharmendra Pradhan An inclusion of petrol and diesel in the Goods and Services Tax framework will help consumers pay a rational price for the fuel, Oil Minister Dharmendra Pradhan has said after fuel prices rose to record level prompting demand […]

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