BUSINESS
Power Finance Corp planning public issue of bonds in July: source
The bond issue is likely to include two tenors of Rs 5,000 crore each.
BUSINESS
India can follow global models to bring fuel under GST: CBIC Chairman Vivek Johri
Johri also said any loss of revenue being experienced by mineral-rich states can only be addressed by the Finance Commission
BUSINESS
FM reviews performance of PSBs for govt-backed insurance schemes: Sources
To achieve saturation under PMJJBY and PMSBY, the finance ministry had launched a three-month campaign, starting April 1
BUSINESS
Exclusive: GoM online gaming convenor recommends escrow account for prize money
The convenor recommends 28% GST on gross gaming revenue with escrow account facility.
BUSINESS
Exclusive: GST Council to clarify food, beverage supply at cinema attracts 5% GST: Source
The cinema industry had represented that the supply of food and beverage for human consumption should be construed as ‘restaurant service’ and thus, liable to GST at 5 per cent, without availment of input tax credit.
BUSINESS
GST Council may discuss 22% cess for all multi-utility vehicles: Source
The fitment committee has recommended the inclusion of all utility vehicles, by whatever name called, of length greater than 4,000 mm, engine capacity greater than 1,500 cc and ground clearance of more than 170 mm in the 22% cess category along with SUVs, says a source.
BUSINESS
MC Exclusive: Centre encroaching on state list through GST regime, says Chhattisgarh Deputy CM TS Singh Deo
The mineral-rich state was being deprived of its rightful revenue from natural resources, the deputy CM lamented, calling for reforms in the GST regime.
ECONOMY
Unregistered sellers can make intra-state supply to Amazon, Flipkart from Oct 1, says CBIC
Blueprint for appellate tribunal likely to be approved at July 11 GST Council meet
BUSINESS
MC Exclusive: Wheels in motion, initial bids for CONCOR likely to be invited by August 1
Ministry of Railways is now on board the divestment of CONCOR and all earlier issues have been resolved.
BUSINESS
Service industry raises concern over mandatory brick and mortar office for GST registration: Vivek Johri
Under GST it is mandatory to have a definite place of business in the brick and mortar form as per law.
BUSINESS
CBIC identifies 12,500 bogus entities so far in special drive against fake ITC: Vivek Johri
The special two-month drive being done jointly by Center and states identified 60,000 units as risky, out of which 50,000 verifications have been done so far.
BUSINESS
Center working towards mandatory geotagging, biometric to weed out bogus entities under GST: Vivek Johri
Under the GST law, the place of business needs to be physical. In many cases it is found that the address is bogus
BUSINESS
TCS on foreign spend: Tour operators hail extension but sceptical over tax collection
The government has clarified that international credit and debit card spends on foreign travel up to Rs 7 lakh will be excluded from the Liberated Remittance Scheme (LRS) limits and therefore won't attract TCS.
BUSINESS
Rationalising GST slabs should be priority, say stakeholders and experts
Reducing the number of GST slabs to a maximum of two to three should be on high priority for the GST Council to reduce disparity and make it less tedious and cumbersome for assessees, stakeholders and experts said as India completes six years of implementation of the new indirect tax regime.
BUSINESS
Exclusive: NHPC merger with Lanco Teesta may get MCA nod in August, says official
The stakeholders and creditors approval is likely to be submitted over the next two months to the ministry of corporate affairs.
BUSINESS
Tour operators urge PM to roll back 20% TCS, seek parity with foreign travel agents
The TCS on foreign tour packages is all set for an increase from July 1 to 20 per cent from earlier 5 percent as announced in the Union Budget.
BUSINESS
Exclusive | MCA likely to approve Railtel Enterprises merger with Railtel Corp in July: Official
Shareholders and creditors have already approved the merger proposal, a government official told Moneycontrol.
BUSINESS
India’s schemes have helped women unleash their economic power: FM Sitharaman
Nearly 70 percent beneficiaries of Mudra or Micro Units Development and Refinance Agency scheme loans are women.
BUSINESS
Pension review panel yet to reach conclusion, discussions on, says Finmin
The ministry described as false news reports purporting to give details of a specific percentage of pension being proposed under NPS
BUSINESS
Govt to launch app showing all available EV charging & swapping stations within 2 months: Official
While initially the app will show the location of the charging station, its capacity, etc., subsequently, it will have features like booking and payment as well. Oil marketing companies have been allocated Rs 800 crore to install 22,000 fast chargers at fuel pumps.
BUSINESS
Exclusive: GST Council may approve process changes to plug fake ITC claims in July 11 meet: Officials
The 2023-24 Union Budget has projected a 12 percent growth in GST revenue for the Center at Rs 9.56 lakh crore from the previous fiscal mop-up of Rs 8.54 lakh crore.
ECONOMY
Exclusive: Govt to set up inter-ministerial committee for Urea Gold pricing, subsidy: Source
The sulphur coated urea is likely to be approved by the Union Cabinet soon, a government official said.
BUSINESS
New fertiliser schemes may help lower subsidy bill
States will get part of the subsidy saved by discouraging the use of chemical fertilisers.
BUSINESS
Rs 15,000 crore fake ITC claims found in special drive, says CBIC chief Vivek Johri
"60,000 entities have been identified for physical verification under a special drive to plug fake ITC cases under GST," Johri told reporters on the sidelines of the conference on Trade Facilitation organised by CII.
