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Virus-ravaged states clamor for more funds from Modi

This week India surpassed Russia to become third worst-hit country with over 740,000 infections.

GST intelligence wing uncovers tax evasion by sanitiser makers, sounds all-India alert

The Director-General of GST Intelligence (DGGI) sourced information from online platforms such as Amazon, Flipkart, Snapdeal and PayTM and has circulated a list of 62 sellers after finding that manufacturers had paid 12% GST instead of 18%.

Fifteenth Finance Commission's high level group on health to work with World Bank on recommendations for health sector

Given its importance in the context of the pandemic, NK Singh, chairman of the FC, said for the first time the commission’s final report would contain an entire chapter devoted to healthcare financing.

China central bank slowly buying into Indian companies

Growth of Chinese investments in India since 2014 has been largely a transactional trade relationship.

Push for infrastructure, privatisation to revive India's growth: Tarun Bajaj, Economic Affairs Secretary

Measures such as e-way bills, GST collections and exports were on the rebound with lockdown ease.

At 42.7 m, June e-way bills close to pre-Covid days

The E-way generation which used to be around 20 lakh a day, in regular times, had drastically come down after the enforcement of the lockdown. March witnessed the steepest fall in E-way bill generation plunging to a low of approximately 0.50 lakh on 25th March, the lowest figure on the first day of the nation-wide lockdown.

Govt to focus on strategic stake sales to meet disinvestment target: DIPAM Secretary

For BPCL, in which the government is selling 52.98 per cent stake, the deadline has been extended till July 31. For 100 per cent stake sale in Air India, the deadline for bid submission is now August 31.

I-T department refunds Rs 62,361 crore during lockdown: CBDT

Income tax refunds amounting to Rs 23,453.57 crore have been issued in 19,07,853 cases to taxpayers and corporate tax refunds amounting to Rs 38,908.37 crore have been issued in 1,36,744 cases to taxpayers during this period.

India needs Rs 50-60 lakh cr foreign investments to bolster coronavirus-hit economy: Nitin Gadkari

"Country at this juncture needs liquidity. Without liquidity our economy's wheel will not accelerate... Rs 50-60 lakh crore foreign investment is needed in the country under present circumstances to boost the economy," the Road Transport, Highways and MSME Minister said.

Little FDI from China since last year

Officials said some investors may be keen to avoid scrutiny and may be waiting for the detailed clarifications to emerge, which will specify things like the definition of "significant beneficial ownership"

GST Council may look at rationalising rates

GST Council may look at rationalising rates

States are yet to be compensated for March. GST collections, which were clocking an average ₹ 1 lakh crore a month in FY20, have seen a drop in the ongoing financial year.

FM asks GST officers to proactively address issues faced by biz in tax compliance

FM asks GST officers to proactively address issues faced by biz in tax compliance

In a message to tax officers on the third anniversary of Goods and Services Tax (GST), Sitharaman also said there is scope for easing compliance further for taxpayers, especially MSMEs.

India among Switzerland's top-3 partners for info exchange on tax matters: Global Forum

India among Switzerland's top-3 partners for info exchange on tax matters: Global Forum

India figures among the top-three countries getting detailed information from Switzerland about bank accounts and beneficiary ownership of entities established by their residents in the Alpine nation, according to the latest study by OECD's Global Forum on transparency and exchange of information for tax purposes.

Missing old data makes online tax payment tough

Missing old data makes online tax payment tough

Citizen groups, residents welfare associations and experts have raised questions about the old property tax data, which was gathered over the last 12 years, not being utilised in the new portal made by National Informatics Centre.

India’s 6 crore MSMEs need immediate reliefs on loans, simple compliance to revive: Taskforce

India’s 6 crore MSMEs need immediate reliefs on loans, simple compliance to revive: Taskforce

GAME said these businesses were struggling even before Covid-19 and would need financial and compliance related reforms by the government to tide over the ongoing crisis.

RBI extends enhanced borrowing limit under MSF till September 30

RBI extends enhanced borrowing limit under MSF till September 30

The RBI, as a temporary measure, had increased the borrowing limit of scheduled banks under the marginal standing facility (MSF) scheme from 2 per cent to 3 per cent of their Net Demand and Time Liabilities (NDTL) with effect from March 27, 2020.

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