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  • Explained | How compensation for GST shortfall after June 2022 may create centre-state rift Sep 20, 2021 03:07 PM IST

    Explained | How compensation for GST shortfall after June 2022 may create centre-state rift

    The centre's stand, that compensation will not be extended beyond June 2022, as provided in the Constitutional amendment that introduced GST from July 2017, is starkly different from what politicians and officials from opposition-ruled states told media after the GST Council meeting in Lucknow on September 17.

  • GST Council | Centre says no compensation beyond June 2022; states take a different view Sep 17, 2021 10:07 PM IST

    GST Council | Centre says no compensation beyond June 2022; states take a different view

    Addressing the media after the meeting of the GST Council in Lucknow, Sitharaman and Bajaj said that while compensation cess will be collected till March 2026, it will be to pay back the interest and principal of the Rs 2.69 lakh crore total that the centre borrowed and will borrow in 2020-21 and 2021-22, and transferred to states.

  • GST Council Meet | GST exemption on Covid essential medicine extended till December Sep 17, 2021 08:44 PM IST

    GST Council Meet | GST exemption on Covid essential medicine extended till December

    The items on which rate cuts were made included Remdesivir, Tocilizumab, medical grade oxygen, oxygen generator, ventilators, masks, covid testing kits, oximeters, hand sanitizers, cremation furnaces, ambulances, temperature checking devices and others.

  • Exclusive| GST Council: Decision on mode of compensation extension unlikely today Sep 17, 2021 05:12 PM IST

    Exclusive| GST Council: Decision on mode of compensation extension unlikely today

    Moneycontrol understands that one of the options being given to the states is continuing compensation in lieu of tax shortfall at a much lower rate than the existing 14 percent. It could be 11 percent or lower. It is also learnt that the centre is presenting to states some revenue enhancement measures which will enable them to depend less on the shortfall compensation from the centre.

  • Packed agenda for first in-person GST Council meeting in nearly two years Sep 17, 2021 08:03 AM IST

    Packed agenda for first in-person GST Council meeting in nearly two years

    The Council is expected to discuss the extension of compensation to states beyond 2022, rationalizing the inverted duty structure on supply chain of certain items, bringing petrol and diesel under GST, extending the GST exemption on Covid-essential items, and deciding the future of profiteering cases, since the tenure of the National Anti-Profiteering Authority ends in November.

  • SpiceJet stays afloat on ‘broken wings’ of Boeing 737 MAX Jul 01, 2021 01:26 PM IST

    SpiceJet stays afloat on ‘broken wings’ of Boeing 737 MAX

    Projected compensation from Boeing for grounded jets helps Indian carrier cushion losses. The airline’s other income in 2020-21 has risen nearly six times on the provision for damages. Over the past two years, the airline has reported Rs 1,232.25 cr as compensation for the grounding of 737 MAX

  • Without immediate reform, future of GST at 'grave risk', Tamil Nadu FM told GST Council May 30, 2021 01:52 PM IST

    Without immediate reform, future of GST at 'grave risk', Tamil Nadu FM told GST Council

    Pointing to a broad cross section of issues, ranging from the design of the GST Network that he said makes it harder for MSME firms to integrate fully, an enforcement model fragmented between Union & State government inspectors, to the enacting of laws with 'draconian' enforcement actions, Thiagarajan repeatedly stressed the current GST model does not serve the interests of the taxpayers.

  • COVID-19 | Delhi to give compensation up to Rs 5 lakh for deaths due to oxygen shortage, forms panel to assess cases May 28, 2021 11:17 AM IST

    COVID-19 | Delhi to give compensation up to Rs 5 lakh for deaths due to oxygen shortage, forms panel to assess cases

    Delhi COVID Deaths: The committee will assess online and offline complaints and/or representations regarding deaths due to oxygen shortage on “case-to-case basis”

  • GST compensation required by state govts for FY22 to touch Rs 2 trillion: ICRA Mar 15, 2021 05:29 PM IST

    GST compensation required by state govts for FY22 to touch Rs 2 trillion: ICRA

    The state governments may need to utilise as much as 70-90 percent of their enhanced borrowing limits for FY2022 to meet the shortfall.

  • States get full GST compensation for 2019-20; but next year's payment remains a question mark Jul 28, 2020 06:21 PM IST

    States get full GST compensation for 2019-20; but next year's payment remains a question mark

    Under GST law, states are guaranteed to be paid for any loss of revenue in the first five years of the GST implementation from July 1, 2017. The shortfall is calculated assuming a 14 percent annual growth in GST collections by states over the base year of 2015-16.

  • Coronavirus lockdown | Goa taxi trade demands Rs 12k per month compensation Apr 26, 2020 06:17 PM IST

    Coronavirus lockdown | Goa taxi trade demands Rs 12k per month compensation

    Taxi associations in Goa have demanded compensation for loss of income due to the lockdown in place for the novel coronavirus outbreak, an official said on Sunday.

  • Things to do if the bank loses the original sale deed of a property Apr 17, 2018 10:46 AM IST

    Things to do if the bank loses the original sale deed of a property

    A home loan borrower should immediately obtain an acknowledgment in writing from the bank that the sale deed has been lost. The letter should bear a seal and signature of the bank officials

  • Average increment for FY18 to remain flat at 9.7%: KPMG Apr 04, 2017 07:31 PM IST

    Average increment for FY18 to remain flat at 9.7%: KPMG

    The highest increment of 12.5 per cent is reported by the e-commerce sector, the lowest of 8.1 per cent is that of logistics, the survey said.

  • Full text: Narayana Murthy's letter questioning COO Pravin Rao's compensation hike Apr 03, 2017 12:23 AM IST

    Full text: Narayana Murthy's letter questioning COO Pravin Rao's compensation hike

    Infosys co-founder Narayana Murthy has questioned the pay hike given to COO Pravin Rao.

  • CEOs of Nifty cos earn 237 times their organisation's median pay Feb 24, 2017 10:54 AM IST

    CEOs of Nifty cos earn 237 times their organisation's median pay

    A report by Economic Times Intelligence group on the salary drawn by CEOs of Nifty companies‘ pegs average annual remuneration at Rs 13 crore, nearly 237 times the median pay scale drawn by other employees at their respective company.

  • Infosys defends ex-CFO severance pay; says wasn't 'hush money' Feb 13, 2017 07:25 PM IST

    Infosys defends ex-CFO severance pay; says wasn't 'hush money'

    "The concerns raised over CFO Rajiv Bansal's severance pay are valid.... But they said it was hush money, which was deeply disturbing," said Infosys Chairman R Seshasayee.

  • Employees prefer bonus to ESOPs in compensation: Experts Feb 05, 2017 11:58 AM IST

    Employees prefer bonus to ESOPs in compensation: Experts

    With a number of startups collapsing mid-way, many employees are now preferring bonuses instead of Employee Stock Option Plans (ESOPs) as part of their compensation package, industry experts said.

  • GST: No breakthrough, hopes hinge on Jan 16 meeting to break impasse Jan 04, 2017 09:26 PM IST

    GST: No breakthrough, hopes hinge on Jan 16 meeting to break impasse

    GST council‘s meeting remain inconclusive amid persistent differences regarding issues on “dual control,” compensation and taxing rights over goods moving through seas

  • GST: States demand extra compensation to soothe demonetisation pain Jan 03, 2017 09:37 PM IST

    GST: States demand extra compensation to soothe demonetisation pain

    States want Centre to raise compensation corpus from Rs 55,000 crore to Rs 90,000 crore; new roadblocks surface on taxation rights of goods transported through territorial waters

  • Co being asked for compensation is an old issue: Kaveri Seed Oct 25, 2016 03:26 PM IST

    Co being asked for compensation is an old issue: Kaveri Seed

    Company being asked for compensation of Rs 43 lakh is an old issue, says Mithun Chand, ED of Kaveri Seed Company.

  • GST Council agrees on compensation formula; rates next on agenda Oct 18, 2016 08:37 PM IST

    GST Council agrees on compensation formula; rates next on agenda

    The GST Council will now discuss the tax rates, the most contentious issue, on Wednesday and Thursday.

  • Microsoft chief Satya Nadella takes home $ 17.7 million pay Oct 04, 2016 10:00 PM IST

    Microsoft chief Satya Nadella takes home $ 17.7 million pay

    Nadella, who is betting on technologies like cloud computing and artificial intelligence to steer the software major's growth, had a compensation of USD 18.3 million in the year ended June 2015.

  • Cabinet approves GST Constitutional Amendment Bill Jul 27, 2016 08:27 PM IST

    Cabinet approves GST Constitutional Amendment Bill

    The Bill will also mention that dispute resolution will be decided by the GST council. The government has also included five years compensation clause for state governments for any loss that they may incur.

  • SC to Unitech: Pay compensation by August 12 or face arrest Jul 01, 2016 01:40 PM IST

    SC to Unitech: Pay compensation by August 12 or face arrest

    House buyers had sought compensation from Unitech after it failed to deliver booked flats on time.

  • Turkey ready to pay Russia compensation over downed jet: PM Jun 28, 2016 02:26 PM IST

    Turkey ready to pay Russia compensation over downed jet: PM

    "We have said that if necessary we are ready to pay compensation," Yildirim told public TV network TRT late on June 27, hours after President Recep Tayyip Erdogan reached out a conciliatory hand to Moscow over the incident that shattered ties between the two nations.

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