Page 50 - Indivjal Dhasmana/ Pti

25-30 million lost jobs in MSMEs during March-June, says survey

Another 10-15 million jobs may be lost by the end of August

Centre releases Rs 1.65 trillion as GST compensation to states for FY20

Cess collection was at Rs 95,444 crore, surplus fund of previous years and unallocated IGST fund used

Covid-19 crisis: Revival in rural demand overstated, say economists

A recent note brought out by Credit Suisse says that net gain from the government support measures may be just Rs 7,500 crore a month

Fraudulent IGST refunds: Exporters to face stern action, say reports

Exporters are identified as 'risky' on the basis of specific risk indicators based on customs, GST, income tax and data from the Directorate General of Foreign Trade

Iron, steel sold to China arrest plunge in engineering exports in June

Shipments to China rose by over 1,400 per cent to $524 mn in June from just $35 mn in the same month last year

Rs 3,100 cr sanctioned for 5 proposals under scheme for NBFCs and HFCs

35 more applications for Rs 13,776 cr being processed

Over a quarter of homes in UP, Odisha had zero income under lockdown: NCAER

There was change in occupation profile during lockdown; the proportion of salaried persons fell sharply in UP

81 stalled housing projects approved for funding under special window

They will collectively be able to complete 60,000 houses with Rs 8,767 cr investment

I-T Dept to share assessee information with Cabinet Secretariat, IB and NCB

Currently, the department shares such information with 50 agencies including the registrar of companies, the Securities and Exchange Board of India and the financial intelligence unit

Next fiscal step likely after vaccine to cure Covid-19 comes: CEA

Says vaccine is not very far off and when it comes, uncertainty about the virus will considerably go down and the time will then be ripe for generating demand for discretionary spending

Voda-Idea to get Rs 833 cr refund as SC rejects govt plea against HC order

The refund was held back by I-T department citing possible future demands, Bomaby HC had ruled the power to do so did not exist in AY 2014-15, to which the case pertains

PM Modi sells reforms story to US biz, seeks investment across sectors

Inviting US investors to tap opportunities in the technology sector, the prime minister cited a report that said that for the first time ever, there were more rural internet users than urban.

Use of GST data in national accounts in limbo 3 years after tax roll-out

Difficult to gauge from state GST revenues collections whether or not economic activity is picking up, say experts

Formalisation of economy gradually picked up in May, EPF data shows

The net subscriber base of the employee provident fund, broadly taken as indicator of formalisation of the economy, stood at 318,789, three times the number in April

CBDT, CBIC sign MoU to facilitate exchange of information on regular basis

The finance ministry said important developments such as the incorporation of GST Network and advancement of technology have duly been incorporated in the MoU

Over 7,000 cases disposed of under I-T dept's faceless assessment process

In faceless assessment, all communication with taxpayers is made electronically by a central cell in Delhi and the identity of all the assessing officers remains unknown to the taxpayer

FM emphasises on consensus-based solution for digital taxation at G-20 meet

The digital taxation assumed significance since the US launched an investigation against various countries including India for levying digital tax on its companies

Income Tax dept adds new features in 26AS Form to help taxpayers

The new variant of 26AS Form will have taxpayers' details as specified statements of financial transactions (SFTs) in various categories

Fraudulent IGST claims worth Rs 1,875 crore by risky exporters identified

These people are untraceable and the list includes seven 'star' exporters, government sources said

Banks sanction Rs 1.23 trn loans to MSMEs under credit guarantee scheme

This data is as of July 15. However, at Rs 68,000 crore, the disbursed amount is 23 per cent of the promised Rs 3 trillion.