Page 55 - Indivjal Dhasmana/ Pti

New procedures in GST system may be challenged in courts, say experts

Experts said under the pre-GST state-level value-added regime, cancellation of registration rarely happened

FinMin asks GST Council to form grievance redressal mechanism for taxpayers

The proposal in this regard was approved last week by the GST Council

Fitch cuts India's GDP growth to 4.6% as credit crunch cripples economy

The rating agency sees moderate fiscal slippage, retains sovereign rating and outlook

India must stick to fiscal consolidation in medium-term, says Gita Gopinath

India's consolidated deficit (the Centre and states combined) is the highest among G20 nations, she added. "So, it's not a free lunch and this has to be very carefully managed," she said

Business fears hit to cash flow from new GST input tax credit restriction

Gupta of ClearTax feels a further reduction in credit could have been considered later

In a first, GST Council votes to tax lotteries at uniform rate of 28%

All the earlier decisions by the Council had been taken through consensus

Non-BJP states fear sovereign default on Centre's GST compensation

States are given compensation by the Centre if they don't clock 14 per cent growth in GST revenues in a year on the base of 2015-16.

Govt sets Rs 1.1 trillion as monthly GST target for tax officials

Four of eight months in this fiscal year have delivered less than Rs 1 trn collection

Govt exploring new method for calculating GDP with changing weights

The weights assigned to various products and activities will keep updating but the base year will remain the same

Bill to provide social security to workers introduced in Lok Sabha

This code seeks to make Aadhaar mandatory for availing of benefits under various social security schemes

ADB scales down India's GDP growth forecast from 6.5% to 5.1% for FY20

The ADB said growth would pick up to 6.5 per cent in 2020-21 with "supportive" policies, but also said it would be lower than its earlier forecast of 7.2 per cent for the fiscal year

Falling GST collections: Parliamentary panel asks Centre to address issue

The Centre has paid Rs 45,745 crore as compensation to states for their revenue loss under GST for the first four months of the current financial year

Manufacturing PMI drops to 2-year low in October on weak demand

The PMI report said the cooling of manufacturing sector conditions continued in October, with both factory orders and production rising at the weakest rates.

Jobs decline for first time in six years due to agri, manufacturing: Study

Total employment in the economy stood at 474.2 million during 2011-12, which declined to 465.1 million during 2017-18

Finance Ministry job ended unceremoniously, says Subhash Chandra Garg

He said he could have become the longest-serving finance secretary if he had held the post until his superannuation in October 2020

Low tax revenue, high spend push H1 fiscal deficit to 93% of FY20 target

Though the figure seemed alarming, it was bit lower than 95.3 per cent in the corresponding period of 2018-19

Labour productivity growth declines in organised manufacturing: Report

Capital has replaced labour much faster in recent years than in the past

Ease of doing business: Four key parameters on which India needs to improve

The country is still ranked below 100 in starting a business, registering property, enforcing contracts and paying taxes

Agents of foreign firms seek GST exemption, cite govt body clarifications

These providers, indenting agents in technical parlance, went to the Gujarat high court against the GST levied on them

India is likely to move up in Ease of Doing Business report of World Bank

India was 77th among 190 countries in the previous ranking