Page 59 - Indivjal Dhasmana/ Pti

PM Modi meets Jaitley after he opts out of Cabinet citing poor health

No word on meeting's outcome; in letter to Modi, outgoing FM said he needed time to concentrate on his health

Govt makes highest-ever expenditure cut of Rs 1.4 trillion for FY19

The compression, comprising cuts and rollovers, represented almost double of what was done in the previous year, and around 6 per cent of the amount pegged in the RE

Kerala govt to impose 1% flood cess from June 1 for rehabilitation work

There will be no cess on goods drawing 2.5 per cent SGST

Modi 2.0: Govt mulls steps to lift demand, to focus on lowering I-T rates

The crucial issue would be how fiscal deficit will be affected if the government lowers income tax rates further

HC allows input tax credit under GST regime to realtor making shopping mall

This interpretation was there despite the fact that GST is imposed on rent and lease

AAR allows input tax credit by debt settlement under GST regime

AAR ruled that the applicant could pay the consideration for inward supplies by way of setting off book debt

Slowing economic growth, lack of fiscal space will challenge next govt

Economic growth is officially projected to come down to 7 per cent in 2018-19

Zero duty on imports: Odisha HC stays DRI notices against exporters

Court also stays proceedings of notices, which means future notices also can't be issued till next hearing

The critical role of the tax department in promoting the country's exports

A committee set up by CBIC will look at expediting access to imports used in the manufacture of exported goods, and will also do away with any tax anomalies that may arise in the process

Retail inflation rises to 6-month high, poses uncertainty for rate cut

The retail price inflation rose to a six-month high of 2.92 per cent in April, pushed up by costlier food items

E-filing of tax returns saw 19% growth in AY19, says Finance Ministry

The ministry said a total of 66.8 million returns were e-filed in FY19, which included 64.9 million for AY19

Court orders interim stay on inducting members into GST Appellate Tribunal

A petitioner had moved the court against a situation in which technical members would outnumber judicial members in the Tribunal

Phase 4 states account for 40% of net addition to subscriber base of EPFO

Critics say EPFO data is not a true indicator of job generation, as there is duplication in numbers

Mumbai HC grants bail to man held for circular trade, fake ITC claim

The court also ruled that no coercive action would be taken against the person, while posting the next hearing on July 8

Govt panel submits report on taxing profits of foreign companies

On profit attribution, the report states that profits derived from India need to be defined objectively

At 2.86%, CPI inflation at 5-month high in March on high food prices

The food inflation rate rose to 0.30 per cent in March after witnessing a contraction in the past five months

India brings down trade deficit with China by $10 billion in 2019

Sources said India's exports to China rose to $17 billion during the year from $13 billion during 2017-18, while imports declined to $70 billion from $76 billion

India says it's no tariff king, US also charges higher duty on some items

The US charges high tariffs on several items such as tobacco at 350 per cent, peanuts at 163.8 per cent, footwear at 48 per cent, shoes at 32 per cent

US seeks huge tariff concessions to restore trade benefits to India

Sources said while revenues foregone by India would be $190-240 million a year, Washington is asking for tariff concessions in IT products amounting to $3.2 billion

'UBI fashionable but misguided recommendation,' says Arvind Panagariya

Arvind Panagariya believes the Congress' promise of NYAY will seriously damage fiscal consolidation, and large subsidies will have to be cut