Page 33 - Indivjal Dhasmana

Orissa HC rules deposits for GST appeals must be filed via cash ledger only

Experts say this would have repercussions on businesses having accumulated tax credits

Does India have a case for the upgrade it seeks from rating agencies?

The economy is yet to reach pre-pandemic level on many fronts, fiscal deficit and debt-to-GDP ratio remain pain points; however, key reforms could work in the country's favour

WB flags under-reporting of Covid deaths in India, other S Asian nations

World Bank retains India's GDP growth projection at 8.3% for FY22, cautions any global slowdown due to Covid waves may pull it down

Fitch cuts GDP growth projections to 8.7% for FY22 from 10% earlier

A day ahead of policy review, it expects RBI to hold policy rates during FY22

GST rate clarifications on cattle feed may lead to disputes

DDGS falls under the category of residues and will get similar treatment in terms of GST rate as is given to other residues

Triggers for rating upgrade won't be met over 12-18 months: Moody's exec

Moody's senior vice president Christian de Guzman speaks about the rating agency's upgraded ratings outlook for India and more.

Moody's upgrades India's rating outlook to 'stable' from 'negative'

Retains lowest investment grade rating

Refund interest paid on ineligible input tax credit, says industry

The levy of interest on availed but unutilised input tax credit is a subject of significant disputes in GST since its implementation

Services activities moderate in Sept but firms continue hiring: PMI survey

Increase in companies creating employment ended a nine-month sequence of job shedding.

Doing WFH due to Covid no reason to cancel of GST registration: HC

Court orders CBIC to issue austere circular mandating tax officers not to cancel registration of any taxpayer during the pandemic period otherwise than on charges of tax evasion

Study bats for OECD multilateral approach to tax digital services

Paper by Shardul Amarchand Mangaldas and Jindal Global Law School opposes digital service tax, currently imposed by individual countries, such as equalisation levy by India

Economy slowly returning to pre-Covid, cloud over topping level two yrs ago

Economic recovery: GDP at constant prices during Q1 of FY22 was still 9.2 per cent lower than in Q1 of 2019-20, a pre-Covid period. But economists expect GDP to hit the pre-pandemic level by Q3FY22

OECD trims India's economic growth forecast to 9.7% for FY22

If the projections come out to be correct, India's economy would be the fastest growing large economy in both these years

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