ALSO READ3% GST rate for gold is low: Economic Survey II GST to expand tax base, bring down weighted average tax rate: Arun Jaitley The earlier normal was large amounts of cash in the system GST collections top govt target, 64% file returns in July: Arun Jaitley Govt mulls Rs 30,000-crore fund to help exporters under GST regime
All eyes on Economic Survey as Budget Session of Parliament begins today All eyes will be on the Economic Survey on Monday, the first day of the crucial Budget session of Parliament. The last full Budget session of the 16th Lok Sabha will begin with President Ram Nath Kovind’s address to a joint sitting of the Lok Sabha and the Rajya Sabha — his first after being elected to the office. Read more Labour ministry raises concerns over bail-in clause in FRDI Bill The Union labour and employment ministry has raised concerns about the ‘bail-in’ clause — under which bank deposits can be used for helping failing public sector banks (PSBs) to stay afloat — in the Financial Resolution and Deposit Insurance (FRDI) Bill. Read more Stretching its wings: IndiGo to fly to Europe from next winter India’s most profitable airline, IndiGo, will start low-cost flights to major European cities next winter. IndiGo will be the first Indian airline to do long-haul low-cost operations, which are already catching up as a global trend. Read more Almost 4,000 new car sales service outlets expected to be set up by 2020 Maruti Suzuki, the country’s biggest carmaker, was looking to appoint a fifth dealership in Lucknow, the capital of Uttar Pradesh.
It spent a few months last year trying to find a ‘suitable’ investor, but could not find one. With the rising cost of land and capital, no investor with an automobile background came forward to invest. The search is still on. “There is no such challenge of finding the partners for Maruti Suzuki. This (Lucknow) may be a one-off,” said a company spokesperson, in response to queries. Read more New indirect taxes: Jobs boom at top accounting firms in India and Gulf The ‘Big Four’ multinational accounting firms have doubled the size of their indirect tax teams in this country, to cater to the sharp rise in demand arising from the implementation of the goods and services tax (GST) here and the introduction of value-added tax (VAT) in West Asia. PwC India, EY, Deloitte, and KPMG have expanded the size of their indirect tax teams by 100 per cent over the past 12 to 18 months. Read more