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Composition taxpayers can now file 'nil' GST statement through SMS

While they needn't log on to the GST portal for filing nil returns, the facility on GST portal will remain available to taxpayers

Finance ministry rejects railways' request to bear pension expenses

Reminds national transporter of its autonomy; asks it to rationalise freight

Centre borrows Rs 6,000 cr to compensate GST to 18 domains in first tranche

16 states, two UTs among beneficiaries; money raised at 5.19% interest rate; Centre to transfer Rs 6,000 crore to states on a weekly basis through this window

Why Bihar's economic growth is picking up despite absence of big industries

Even as national GDP growth declined to 6.1% in 2018-19 and to 4.2% the next year, Bihar's GSDP growth rose to 9.3% and 10.5%, respectively

CCEA gives in-principle nod to demerger, strategic disinvestment of NSP

After the demerger, NSP will become a separate company and the managements of NMDC and NSP will be accountable for their respective operations and financial performance

Expensive vegetables, high metal prices push WPI inflation to 1.32%

Together with CPI, it may restrain RBI from taking any further monetary easing measures

Covid-19 impact: India's GDP may contract 10.3% in FY21, says IMF

IMF now expected the world economy to fall less severely by 4.4 per cent than 5.2 per cent it projected earlier for 2020

India scores zero on bribery of foreign officials: Transparency Int'l

Country fails to open account in four years till 2017 on five metrics, bribery of foreign public officials not criminalised at all despite India being bound by UNCAC rules

Small fiscal stimulus in the second package amid festival seasons

Adds little to earlier Rs 20 trillion package, fiscal cost is modest against Rs two trillion in earlier one; PSE policy announced earlier yet to be detailed, farm bills enacted

Food prices push retail inflation to 8-month high of 7.34% in Sept

Inflation above RBI's comfort zone of 6% for six straight months, Q2 inflation slightly higher than MPC's projection, MPC may refrain from cutting rate in December policy too

GST Council meet on compensation mechanism inconclusive for second time

Kerala Finance Minister Thomas Isaac said, Sitharaman's announcement that she would permit 21 states to borrow in line with Option 1 was illegal

Firms likely to move court against arrest provisions under GST laws

While the government claims that companies are booked under GST laws for fraudulently claiming the input tax credit, experts find loopholes in the provisions, particularly those related to arrests

E-invoicing to be extended to all firms from Apr 1 in phases: Finance secy

The IRN generation has grown by 163 per cent from October 1 - 7

Customs department seeks to allay free-trade agreements misuse concerns

A new provision was introduced in February in the Customs Act for strict verification of rules of origin of imports under FTAs

World Bank ups FY21 GDP contraction forecast for India to 9.6%

Says Indian economy could fare thrice as poorly as projected earlier in the wake of coronavirus-induced lockdowns and a decline in household income

Battle over anti-profiteering authority escalates as tenure set to end

Companies have raised questions over the NAA, especially regarding the lacunae in the methodology of computing profiteering, and appro­ached the Delhi HC

Australia's largest investment funds plan entry into India, meet NIIF

These funds collectively manage assets worth Rs 38 trillion, see scope in India despite Covid

PM's tweet to start awareness campaign against Covid-19 today

Campaign to be launched due to unlocking and upcoming festival season, winters

Industry expects fast recovery, says CII president Uday Kotak

Industry now sees sectors witnessing better pick-up and capacity utilisation than what was projected in March.

Why economists remain pessimistic amid signs of economic recovery

Some believe recent indicators like GST numbers are overstated, most are sceptical about the impact of a stubborn pandemic