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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

Delhi HC issues notice to govt over google tax on MasterCard's subsidiary

The issue: if the Asia Pacific arm does not have permanent establishment in India, it must pay 2% equalisation levy, but if it does then it will pay the normal tax

Lockdowns hamper recovery in major world economies despite easing of curbs

An analysis of seven major economies, including India seems to suggest that all, save China, are struggling to turn around

Centre releases Rs 6,000 cr in revenue deficit grant to 14 states

The amount released would provide additional resources to states during the coronavirus crisis

Industry wants open and facilitative import environment to boost exports

The CII asks for policies to increase the country's share in the global merchandise trade by 2025 to 5 per cent from 1.7 per cent and in services export to 7 per cent from 3.5 per ent.

CII wants end to inverted duty structure to make India an exporting nation

Industry body has asked for policies to hike country's share in global merchandise trade to 5% and services export to 7% by 2025

Isher Judge Ahluwalia resigns as ICRIER chairperson after 15-year stint

Cites health reasons for decision; Pramod Bhasin will be new chairman

Cross-border tax disputes: ITAT orders to overrule MAP outcomes, says CBDT

Direct tax board issues detailed guidance on mutual agreement procedure, or MAP

Former Niti Aayog VC Arvind Panagariya slams India's move to raise tariffs

Favours India's stimulus strategy, criticises NEP focus on spending more at school level without correcting teaching structures

Happy at RBI's decision to bring start-ups under priority sector: FM

Sitharaman says govt will soon be coming with taxpayers charter of rights which was announced in the Budget

Covid-19 impact: Inflation may remain high for a few months, say economists

Local lockdowns, taxes on fuels, services, hardening commodity prices may drive up inflation: Economists