Page 32 - Indivjal Dhasmana/ Pti

Excise duty cut on petrol, diesel could reduce inflation by 30 bps

Petrol's price rise remained elevated even as it moderated to 22.26 per cent in September from 24.01 per cent in the previous month

Services PMI rises to over a decade high of 58.4 in October

Inflation at six-month high keeps business confidence muted but companies generate highest employment since pre-Covid period of February 2020

Tax dispute: Cairn gives undertakings to withdraw all cases against India

This will enable company to get Rs 7,900 crore from govt

Diwali cheer: Centre cuts excise duty on petrol by Rs 5, diesel by Rs 10

Experts said the increase in consumption and tax buoyancy will help offset excise duty cuts on fuels to an extent

Swiggy isn't the only company complaining about forced GST payment

Tax consultants allege many others face coercion from field officers

Services PMI rises to over a decade high in Oct even as input costs rise

Unlike their manufacturing counterparts, service companies hired more hands even as the rate of employment generation remained modest

Appellate Authority overrules AAR to bring Fryum papad under GST exemption

Holds that Fryum is a brand, not a generic product, and that it is similar to traditional round papad in all respects; normal papad attracts 0% GST

Get info on interest and dividend income, investments made, on I-T portal

Dept rolls out new Annual Information Statement (AIS) to ease filing of returns; experts say it might replace existing Form 26AS

PMI manufacturing hits 8-month high but companies continue to shed jobs

Input costs hot 92-month high, prompting some firms to raise selling prices

India's economy takes 'formal' leap as informal shrinks drastically: Study

15-20% of economy informal now as against 52% in FY18; digitisation, gig economy key drivers: Study

Sept core sector growth drops to 4.4% YoY as rains affect infra activity

Core sector rose 16.6 per cent in the first half of the current financial year against a contraction of 14.5 per cent in the corresponding period of the previous year

FinMin reforms public procurement to fast-track projects, help MSMEs

Finance secretary on Friday released revised guidelines, which outline innovative rules for this

HC notice to Centre on petition challenging faceless income tax assessment

The court restrained the tax department from recovering additional demand and posted the matter to November 11

SC denies Rs 923-crore refund to Bharti Airtel, quashes HC order

The telecom operator claimed that it had paid an excess GST for July-September, 2017 and wanted to rectify its relevant returns for that period to get the refund

I-T dept to help taxpayers with more info on their transactions, income

The fresh info to be uploaded in form 26AS includes remittances received from overseas, interest on income tax refund, dividend from mutual funds, purchase of MFs, among others

Purchasing intention gets a boost as economy shows signs of recovery

Intentions to buy consumer products through Nykaa and Croma picked up pace

Inflation cools down in September, but the pressure is building up

Crop damage and import constraints could cause food prices to spike; the global energy scenario is already taking a toll on domestic fuel prices

Some capital will flow out of India if US Fed does any tapering, warns IMF

Says forex reserve are adequate and inflation is down, but must be watched due to supply bottlenecks; cuts potential medium term growth by 25bps to 6% due to Covid impact

Timeline for mandatory use of Indian flag on SCI vessels may be shortened

Tax implication of bearing the flag has been a sticking point for suitors

India's economy gradually recovering, but beware of inflation: IMF

Says gradual cut in monetary support will foster orderly market transition