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Make system of advance tax ruling more comprehensive: SC to Centre

The apex court gave this suggestion while hearing the case of the National Co-operative Development Corporation (NCDC)

Govt seeks parliamentary approval for additional Rs 1.67 trn expenditure

The additional requirement includes Rs 40,000 cr for works under MGNREGA and Rs 20,000 cr for bank recapitalisation

GST compensation options: 13 states opt for offer, 6 to decide soon

The Centre had last month offered two options to states to compensate them under GST regime

GST compensation row: States' revenue fell 18% in first quarter, shows data

Details suggest the states' tax receipts (including the Centre's devolution) fell 32.1 per cent and non-tax revenues declined 27 per cent in this period

No discussion on GST borrowing options at parliamentary panel meet: Report

Sources in know of the matter said that during the meeting of the parliamentary panel there was only a discussion on the CAG report on GST collection for FY19

Experts advise caution on stagflation fears amid 24% GDP contraction

Say Centre, RBI should ensure their policies don't stoke inflation

Centre's ranking on state business reforms dated, says Odisha govt

The state govt said the state implemented significant reforms in the past two years

FinMin bans creation of new posts in govt in major austerity drive

Expenditure curbs also include re-fixing fee of consultants, reviewing their hiring; protocols on printing and functions

Faceless approach in taxation to bring down compliance cost: Finance secy

The finance secretary said that the tax system was going to be entirely data-driven and seamless tax reforms would change the way taxes are paid in the country

Need to re-orient policy mix to rebuild economy in post-Covid world: Finmin

Ministry asserts India is on V-shape recovery path from Q2 onwards; says GDP plummeted most because of severest lockdown measures taken against pandemic

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