Page 54 - Indivjal Dhasmana

Subramanian vs Subramanian: Survey debunks critics on new GDP methodology

There have been similar criticisms of the methodology by other experts as well

Budget 2020: Six major concerns that FM Sitharaman should address on Feb 1

Bringing down fiscal deficit to 3% in line with FRBM Act will be a major challenge for the govt

How non-tax revenue brought some comfort for govt in difficult times

The Budget estimated Rs 1.06 trillion to come from dividends from RBI, public sector banks and financial institutions in the current financial year

IGST on ocean freight is not permissible under law: Gujarat High Court

Ocean freight is the cost incurred through an agreement between two foreign parties to bring goods to India via ocean.

Over-estimation of GDP numbers in Budget disturb fiscal calculations

Tax receipts are expected to fall by Rs 2.5 trillion which may also be caused by the corporation tax and GST rate cuts

FinMin revises target for GST collection in FY20; aims mop-up at Rs 1.5 trn

The government aims to collect Rs 10,000 crore more than what was targeted earlier at a time when all months till December in FY20 yielded less than Rs 1.1 trillion, except for April

Govt plans restrictions on imports of products categorised as 'others'

Piyush Goyal said India is facing 'big' problem in imports of a category called "others" and in that category, all sorts of stuff is being imported into the country

Reality check on AAP claims as party gets ready for Delhi assembly polls

While a lot of the party's achievements are commendable, there are some tall claims and gaps in performance

Exporters approach court over cess on export incentives, get interim relief

The high court granted interim relief to petitioners against any "coercive" measures by the authorities

World Bank sees protracted recovery for India, limited fiscal fillip scope

This projected recovery could be stronger if recent policy actions - particularly those that have mitigated trade tensions - lead to a sustained reduction in policy uncertainty, said the report

New political landscape leaves BJP at mercy of others in GST Council

The party controls 15 states and is short of the 75% vote share needed to pass decisions

Finance Ministry ramps up efforts to meet direct tax collection targets

Field officers were asked to make efforts to identify and initiate actions against willful tax evaders or those using fake invoices or e-way Bills

11 states record retail price inflation rate of over 6% in November

The states that witnessed high CPI-based inflation rates were Lakshadweep, Tripura, Odisha, Uttar Pradesh, Kerala, Madhya Pradesh, Puducherry, Tamil Nadu, Rajasthan, Manipur and Mizoram

FinMin to discuss ways with tax commissioners to plug GST leaks on Jan 14

Even as the GST collection crossed Rs 1-trn mark for the 2nd month in a row in December, the receipts were nowhere near Rs 1.10 trn required every month from Dec onwards to meet the target for 2019-20

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