Page 121 - Latest Updates on Nirmala Sitharaman
About a dozen states seek extension of GST compensation; no decision taken
With two years being lost in the pandemic, states have sought an extension of this compensation mechanism
 "About a dozen states seek extension of GST compensation; no decision taken")
Rate tweaks to make up for inefficiencies in value chain: FM Sitharaman
Stating that all states are aware of the potential impact of rate rationalisation on inflation, Sitharaman said any increase in tax rates will also make up for the tax burden.
 "Rate tweaks to make up for inefficiencies in value chain: FM Sitharaman")
Top headlines: GST on casinos deferred; marketing freedom to oil producers
Briefing reporters about deliberations at the two-day meeting of the GST Council, Finance Minister Nirmala Sitharaman said finance and other ministers of 16 states spoke on the compensation issue
 "Top headlines: GST on casinos deferred; marketing freedom to oil producers")
Tamil Nadu to host GST Council meeting in August, says FM Sitharaman
The next Goods and Services Tax (GST) Council meeting will be held in Tamil Nadu's Madurai in August, Union Finance Minister Nirmala Sitharaman said on Wednesday.
47th GST Council meet: Here's what became expensive after Tuesday meeting
The GST Council today is expected to take up extending compensation to the state
 "47th GST Council meet: Here's what became expensive after Tuesday meeting")
GST Council: Stormy discussion around states' compensation likely today
States will demand an extension of the compensation period or a change in the GST revenue distribution formula
 "GST Council: Stormy discussion around states' compensation likely today")
GST Council tilts towards rate hikes, drops exemptions for many items
Okays removing the exemption on mass consumption items
GST Council clears proposal to remove tax exemptions on some items
The Council also cleared a host of compliance procedures for GST-registered businesses along with a GoM report on high-risk tax payers to check evasion
Amit Mitra asks Centre to take decisions at GST council by consensus
In a two-page letter to Sitharaman, the Principal Chief Adviser to Chief Minister Mamata Banerjee and the Finance Department, Dr Amit Mitra, cited a recent judgment of the Supreme Court in this regard
 "Amit Mitra asks Centre to take decisions at GST council by consensus")
Sensex, Nifty end flat after volatile session; metal, energy stocks shine
CLOSING BELL: M&M, Tech M, Dr Reddy's Labs, Reliance Industries, HCL Tech, and Tata Steel were the top gainers on the 30-pack index
 "Sensex, Nifty end flat after volatile session; metal, energy stocks shine")
GST Council meet: Easier e-comm supplier registration, tax tweaks on cards
The council will also clear levying the highest tax of 28 per cent on online games, casinos and horse racing, besides, discussing a report of a GoM on high-risk taxpayers under GST to curb evasion.
Dept of Expenditure warns against extending the free food scheme: Report
In an internal note, the FinMin's Dept of Expenditure has warned that extension of the free food scheme beyond September or any more tax cuts will have consequences for the Centre's fiscal situation
 "Dept of Expenditure warns against extending the free food scheme: Report")
States to push for continuing GST compensation beyond June: Report
The 47th GST Council meeting, chaired by Nirmala Sitharaman and comprising state Finance Ministers, in Chandigarh scheduled on June 28-29 is likely to see discussion veer around compensation mechanism
MP CM urges FM to remove capital gain tax on assets managed by state firms
Madhya Pradesh Chief Minister Shivraj Singh Chouhan requested Union finance minister Nirmala Sitharaman to remove the separate capital gain tax on assets managed by the state company
 "MP CM urges FM to remove capital gain tax on assets managed by state firms")
FM Sitharaman assures 'fullest support' for Sri Lanka's economic recovery
Finance Minister Nirmala Sitharaman has assured Sri Lanka of her "fullest support" and cooperation for its recovery from the ongoing economic crisis.
Indian delegation led by CEA Nageswaran to visit Sri Lanka on Thursday
The visit is consequent to the meetings held by Sri Lankan envoy in New Delhi Milinda Moragoda with External Affairs Minister S Jaishankar and FM Nirmala Sitharaman on June 20, the report said.
 "Indian delegation led by CEA Nageswaran to visit Sri Lanka on Thursday")
India facing twin deficit problem due to commodity prices, subsidy: FinMin
But says the country faces low risk of stagflation
 "India facing twin deficit problem due to commodity prices, subsidy: FinMin")
Finance Ministry looks to bring major changes at Banks Board Bureau
The finance ministry, over the next couple of months, is planning to identify new members, restructure the bureau, and recommend new names to the appointments committee of the cabinet
 "Finance Ministry looks to bring major changes at Banks Board Bureau")
FM to meet heads of PSBs on Monday; may urge them for credit growth
The Finance Minister is said to take stock of credit growth, asset quality, and business growth plan of banks
FM Nirmala Sitharaman set to review govt banks' financials on Monday
Loan recovery, over Rs 100 crore of bad loans to be assessed