Page 34 - Indivjal Dhasmana/ Pti

GST on ice cream parlours may lead to litigation, say experts

The Council said ice cream parlours would draw 18% GST

Net EPF subscriptions hit record 1.46 mn in July amid easing lockdowns

The data, also called net payroll data, was higher in each of the first four months of the current financial year than the average monthly figure of previous years

Quick analysis of petroleum's contribution to Centre and states' exchequer

Petroleum's share of taxes not included in GST rose to 20% in FY20. While 40% of this should go to the states, the Centre has been raising cess on petroleum, which isn't shared with states

Telecom relief package likely to cost Rs 14,000 crore to govt in FY22

The government budgeted Rs 1.33 trillion as non-tax revenues from the telecom sector in 2020-21, but only Rs 34,000 crore could be realised

UNCTAD projects Indian economy to expand to 4-year high of 7.2% in 2021

This is against a contraction of 7% in 2020; UN body sees India outpacing all other major economies in the next year even though the growth would be slower, at 6.7%

Will GST be structurally overhauled at the Council's meeting in Lucknow?

Apart from fewer slabs, the council will do well to take on issues like bringing petroleum under GST, addressing conflicting rulings of AARs and the issue of compensation to states beyond 2022

India needs $8 trn in greenfield assets to become $5 trn economy: Deloitte

Says country can aim to attract greater FDI into seven capital-intensive sectors that have contributed $181 billion of merchandise exports in FY21

SC upholds Madras High Court's restriction of input tax refunds on services

Matter relates to industries facing inverted duty structure

IIP growth in July declines to 11.5% despite easing of Covid-19 curbs

In the IIP, manufacturing growth declined to 10.5 per cent in July against 12.8 per cent in June

Bengal FM tells Sitharaman her supply-side policies have 'utterly failed'

Asks her to restrain 'spin doctors' from giving misleading picture of the economy

BRICS a powerful voice of developing nations, must become even stronger: PM

The grouping of five nations calls for peace in Afghanistan

Bigger firms pass on surging input costs to consumers, smaller ones stuck

Smaller manufacturers are resorting to cuts in the wage bill to keep afloat, as the demand situation in the economy remains low

Experts say govt driving capex even as FinMin praises private sector

Experts believe that investments are down and driven by government, PSUs

Manufacturing growth falls in Aug on Covid curbs, rising input costs: PMI

The index for manufacturing fell to 52.3 in the month from 55.3 in July, forcing companies to pause their hiring efforts

Separate accounts within PFs to be maintained for taxation purpose

The Budget 2021-22 announced income tax on interest accrued on annual provident contributions above Rs 2,50,000 for non-govt employees and Rs 500,000 for govt employees

Low base drives up India's GDP growth to record 20.1% in Q1FY22

Growth yet to get back to pre-covid level, CEA sees it happening next year

Apr-Jul fiscal deficit narrows to 9-year low, reaches 21.3% of FY22 target

Non-tax revenues such as dividends from RBI and public sector banks yielded Rs 1.39 trillion

Low base pushes up India's economic growth way ahead of others in Q1 FY22

Q1 GDP data: India's economic growth closer to UK's

Economists project GDP growth at 14%-23% in Q1FY22

The growth was projected on a low base of 24.4 per cent contraction in the gross domestic product in Q4 of the previous financial year.

Draft rules on retro withdrawal win-win for govt, firms, say experts

Enforcement of investment treaties remain ambiguous, they say