GST Rule 138E, which took effect in November, doesn’t allow an entity that hasn’t filed returns for two straight months to generate an e-waybill. While the rule won’t impact direct deliveries to ecommerce customers, business-to-business (B2B) orders from overseas will likely get hit.
The target has been raised to Rs 1.15 lakh crore over the next two months and Rs 1.25 lakh crore in March.
"Progress across major development schemes in India, including education, health and nutrition, water and sanitation, agriculture and rural development, livelihood, among others, remains constrained due to sub-optimal utilisation of available funds, especially at the district level," Tata Trust said in a statement. "These need to be addressed urgently," it added.
Announcement of a strategic disinvestment plan in the Budget will send a positive message, Garg said.
“The Farmers’ Welfare Programmes Implementation Society will be free to hire resources for running schemes and the central government will bear all the administrative costs. It has been mandated to develop database of farmers and run all the direct benefit transfer (DBT) schemes,” said a government official.
Questioning has begun. The tax department has already issued notices to subsidiaries of several MNCs.
India needs more realistic disinvestment targets so that the fiscal math is not affected towards the end.
With the amendments, a liquidator has to deposit unclaimed dividends and undistributed proceeds in a liquidation process along with any income earned thereon into the Corporate Voluntary Liquidation Account before submission of an application for dissolution of the corporate person, a release said on Thursday.
The detailed guideline stipulate that the reporting frequency of the CRILC (Central Repository on Information on large Credits)– UCBs return is quarterly to start with.
The Commerce and Industry Ministry in its Budget recommendations to the Finance Ministry has proposed rationalisation of basic customs or import duty on over 300 items from different sectors, including furniture, chemicals, rubber, coated paper and paper boards.
Towards the end of his speech Manmohan cited Nehru's advice to daughter Indira that in dealing with the affairs of the state one should be full of sentiment but never be sentimental.
For those with taxable income of Rs 2-5 crore, the surcharge stands increased from 15% to 25%, which means an effective tax rate of 39% as opposed to 35.9%.
In her Budget last year, finance minister Nirmala Sitharaman took a pragmatic approach by announcing no changes in personal income tax rates but levying an additional surcharge on the super rich.
The commerce department has proposed to replace the positive net foreign exchange (NFE), a primary requirement for SEZ units, with the new eligibility criteria in the wake of the extant SEZ policy being challenged in the World Trade Organisation (WTO), and a panel led by industrialist Baba Kalyani suggesting a revamp of the policy, officials aware of the development said.
Proposed changes have been drawn from the report of the Company Law Committee (CLC), headed by corporate affairs secretary Injeti Srinivas. “Proposals to decriminalise about 44 of the compoundable offences under the Companies Act will be taken up by the cabinet,” said a senior official.
The government since August has taken several steps, including liquidity support to housing finance companies, one-time partial credit guarantee to public sector banks for purchase of high-rated pooled assets of non-banking finance companies (NBFCs) and mega merger of public sector banks.
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