 "News digest: Fiscal deficit target, benami deals, GST return, and more")
GST shortfall won’t derail fiscal deficit target: Govt
The Narendra Modi government expects direct tax collections to exceed the budgeted target by at least Rs 300 billion. This, along with the portion the Centre can pick up from the goods and services tax (GST) compensation kitty, will help it meet the fiscal deficit target of 3.3 per cent of gross domestic product (GDP) for 2018-19, top government sources told Business Standard. Read more
Annual GST return worries India Inc
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Businesses are jittery over the procedural hassles in filing of annual returns under the goods and services tax (GST) regime. These have to be given for part of 2017-18 by the end of this month. Read more
I-T probes role of Axis staff in benami deals
The income-tax (I-T) department is probing the role of some Axis Bank employees for allegedly facilitating cash deposits of over Rs 520 million and benami transactions for half a dozen jewellers based out of Zaveri Bazaar in Mumbai. Read more
Fat to flat: Carmakers run out of speed in urban mkts
Urban markets (metros and mini metros), which account for the bulk of the car sales, have started stagnating for leading manufacturers even as overall sales remain positive, supported by growing rural demand. Read more
Sebi can take a leaf from SEC’s whistle-blower policy
The Securities and Exchange Board of India (Sebi) may be missing out on a key source of information on wrongdoing as India lacks an effective framework for whistle-blowers. Read more
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