Page 48 - Indivjal Dhasmana

India becoming a leading destination for foreign investment: PM Modi

PM says pandemic has taught global supply chains need to be built on trust and policy stability

At 41.8, services PMI continues to show contraction for 6th month in Aug

PMI for combined services and manufacturing rose from 37.2 in July to 46 in August

India jumps 4 places on Global Innovation Index to enter top 50 league

India increased the most in three pillars: Institutions (61, from 77 in 2019), business sophistication (55, from 65 in 2019), and creative outputs (64, from 78 in 2019)

Raters see India's GDP contracting more in FY21 than projected earlier

Prescribe demand booster dose from govt, but many say that's unlikely to come

MoSPI data may rely on proxies, understate GDP shrinkage in Q1: Experts

Experts peg the GDP fall at up to 35%, but statistics office may calculate it at 15-16% due to unavailability of data for informal sector

States' fiscal deficit likely to hit 4.2-5.5% of GSDP this fiscal year

This may take the general deficit of the country-- both the Centre's and states'-- to 11-14 per cent of GDP in FY21

Purchases, imports and SEZ supplies to be auto-generated under GST system

Currently, taxpayers file GSTR1, which is a seller form and GSTR3B. However, purchases are not auto populated from GSTR1

Refund charges imposed on e-payments since Jan this year: CBDT to banks

The CBDT, through a circular, said that banks are advised to not collect any charges on transactions or payments made through electronic mode.

World Bank pauses publication of Doing Business Report over data issues

Speculations on India's recent rise in ranking, but the World Bank says countries affected appear to be Azerbaijan, China, Saudi Arabia and United Arab Emirates

Icra finds FinMin's estimates of GST compensation gap much smaller

Estimates by Icra put the total gap at Rs 2.92 trillion against the ministry's estimates of Rs 2.35 trillion

Centre gives states two options to meet GST compensation cess shortfall

States given two options to borrow: Rs 97,000 crore or Rs 2.35 trillion, burden of repayment on extension of cess period

Global services trade affected by Covid-induced travel curbs: WTO report

With the limited exception of individuals working in "essential" sectors, all such trade that relies on the cross-border movement of individuals has effectively come to a halt

Don't hide behind RBI, clarify your stand on loan moratorium: SC to govt

A Bench headed by Justice Ashok Bhushan said the government had failed to clear its position on the issue despite the fact that ample powers were available with it under the Disaster Management Act

India will need to find jobs for additional 90 mn, says McKinsey report

The figures do not include 55 million women who may come back to the labour force to "partially correct the historical underrepresentation"

High inflation: RBI may escape govt's scrutiny for failing to meet target

Inflation breaches 6% for second straight quarter, set to cross limit for third quarter

FM Sitharaman asks tax officers to make faceless appeal system a success

The faceless appeal system was also unveiled by prime minister Narendra Modi on Thursday

Taxpayer charter, faceless assessment may not always reduce torment: Expert

Unreasonable collection targets, mainly towards year end, often prompt tax official to make aggressive demands; in case of disputes, the official may favour the dept's view

Govt modifies e-assessment scheme after PM unveils Taxpayers' Charter

The nomenclature of the scheme has now been changed to "Faceless Assessment Scheme" from the existing "E-assessment Scheme"

Legal heirs not bound to inform I-T dept about assessee's death, rules HC

The court reasoned that there might be instances where the deceased assessee was estranged from legal representatives or the deceased assessee might have bequeathed their wealth to charity

Unlock BFSI 2.0: Rural India revival difficult to sustain, say economists

It is a misconception that all of rural India is doing well amid the outbreak of Covid-19, said Pronab Sen