BUSINESS
GST Council meet on July 11 to discuss GoM report on online gaming: Vivek Johri
Government sources said that any lowering of GST rate on cement will not be discussed in the July 11 meeting. The Centre is also thinking of measures to resolve fake ITC claims issue which will be taken up in the upcoming council meeting.
BUSINESS
India-US to soon ink agreement to expedite cargo clearances: CBIC Chairman Vivek Johri
"Cabinet will soon approve the AEO-MAR agreement between India-US," Johri said at the Trade Facilitation conference organised by CII.
BUSINESS
No obvious alternative to dollar in trade and investment at this point: CEA
The CEA said that the rupee trade can happen with some neighbouring countries and other trading partners, but it is only at the margins and will not transform the world of invoicing overnight.
BUSINESS
Exclusive | Small metal, packaging sector in focus for fake invoicing under GST: Government official
For existing registrations in these sectors, cleaning of operations will look at performance parameters and then take a decision, a government official told Moneycontrol
BUSINESS
Exclusive: GST Council may consider defining online gaming to resolve tax stalemate: Official
What has to be defined is whether online gaming is an actionable claim or a supply of service. An actionable claim will make it goods, which means the entire value, including winnings, will come under GST. If it is defined as supply of service, the taxation will be on face value.
BUSINESS
India-UAE central banks in active dialogue for rupee trade under CEPA: Piyush Goyal
Addressing the first meeting of the India-UAE Comprehensive Economic Partnership Agreement,Union Minister Piyush Goyal said that talks for bi-lateral trade between the two economies in their local currencies are active
BUSINESS
ChatGPT can help Indian IT companies take more projects and increase employment: CEA Anantha Nageswaran
If these sources of AI increase productivity of workers, and a company can do with assigning less number of people to a project, it also means they can take on far more projects than earlier. It can be a win-win proposition provided we are able to upskill our people to take advantage of these new tools, interventions and innovations.
BUSINESS
Exclusive: Concor strategic sale at ‘status quo’ as railways raises concerns: Official
This means the plan to sell a 30.8 percent stake worth around Rs 12,000 crore is delayed
BUSINESS
Exclusive: Finmin to form a committee to fast track resolution of land asset issues for strategic divestment
But even after the formation of the committee, it will take time for the results of its actions to be visible, which will likely be only from next fiscal.
BUSINESS
Next GST Council meet to approve the number of appellate tribunal benches in each state
About 50 appellate tribunal branches are expected to be established across India. These could become operational by the close of the current financial year.
BUSINESS
New scheme with minimum assured returns will have high premium cost: PFRDA
The total NPS and Atal Pension Yojana assets under management currently stand at Rs 9.4 trillion which is 14% of GDP.
BUSINESS
MC Exclusive: Auditors, public sector banks to launch balance confirmation portal
The platform, expected to start in three months, will ease the difficulties faced in auditing the accounts of companies.
BUSINESS
Revenue department working on widening personal income tax base, using data red flags
The government is using Data Analytics, Big Data, Artificial Intelligence and Machine Learning to make the tax system more effective.
BUSINESS
Manufacturing, agriculture, services likely to sustain recovery in FY24: Economists
Global demand is already weak and affecting exports, so domestic demand needs to be strengthened, economists said.
BUSINESS
Tesla said to be planning India’s integration in global component supply chains
The EV maker already buys about $100 million worth of steering wheel and other parts from India.
BUSINESS
GDP numbers: This is the beginning of positive investment cycle, says former NITI Aayog vice-chairman Rajiv Kumar
The only snag could be a slowdown in global economic growth for which India needs to be prepared and make policy steps
BUSINESS
Cabinet note on fast-track insolvency resolution likely in June: Sources
Once it receives Cabinet approval, the amendment will go to Parliament for passage, likely in the Monsoon session.
BUSINESS
'FIRE' corridors to fuel economic development, Finmin says at NICDIT meeting
Nirmala Sitharaman also urged states to keep up the pace of infrastructure projects at the meeting, which saw Chief Ministers from four states, ministers from nine states, besides senior officials from all the states attend the meeting.
BUSINESS
India expects exports to China to pick up in 4-5 months: Source
The commerce ministry is carrying out an internal assessment to analyse why exports to China have declined, widening India’s trade deficit with that country.
BUSINESS
MC Exclusive: India waiting to see what Tesla offers; value additions vital for sops: Govt official
This visit could mark a turning point in the relationship between India and Tesla, as the EV maker is yet to establish a notable presence in the country.
BUSINESS
Govt out to tighten reins on royalty payments by OTT, IT and ITES: Sources
If some rights are being transferred by an entity, it constitutes royalty, according to Indian legislation. If an entity here has rights and is again distributing them, it will be considered royalty.
BUSINESS
Northeast states poised to be sunrise region; investments, infra development to significantly boost GST revenue growth: Experts
The region has vast potential that will be better tapped once the projects under construction are complete
BUSINESS
Govt unlikely to invite EoIs for Concor before July as internal processes still pending
Confusion around the railway land leasing policy that CONCOR will adopt going forward has clouded the sale
BUSINESS
Small firms seek one-year exemption for oversight in GST e-invoicing
While the government has made e-invoicing mandatory for firms with turnover above Rs 5 crore, stakeholders say such firms would face challenges in implementing the technology.
