Have you read these stories?

This Chinese telecom giant is turning India into its export hub

The smartphone maker is also testing 5G capabilities at its research and development centre in Hyderabad.

taxes

Dec 07, 2019, 08.28 PM IST

SEARCHED FOR:

TAXES

GST panel may recommend to hike 5% tax slab to 6% to boost revenues

A revamp of goods and services tax (GST) structure is on the cards as the...

We are not done with stimulus: Nirmala Sitharaman on reviving economy

A personal income tax rate cut for Sitharaman would be difficult at thi...

France rejects 'optional' US digital tax proposal

France has been at the forefront of efforts to tighten taxation of digital giants and parli...

ET Prime Distribution
  • The search or survey action has unravelled the entire modus-operandi which has been adopted by the share-brokers and traders to trade into the illiquid stock options in equity derivative segment and thereby generate artificial losses or profit by executing reversal trades in a very short span of time.

    India was an active participant in the deliberations, as highly digitalised global companies have a huge consumer base here and stakes are high. To illustrate, there are over 270 million Facebook users in India, making it one of the leading countries in terms of user size.

    Reversal of credit would lead to an increase in cost by anywhere between Rs 200 to Rs 500 crore for banks.

    "Today the Nation is observing the Armed Forces Flag Day to honor India's bravehearts who sacrificed their lives while serving the country. We should support their families and do everything possible for their well-being and also for the welfare of India's Ex-Servicemen," Defence Minister Rajnath Singh tweeted.

    Sushil Modi, who heads the Group of Ministers (GoM) on GST revenue shortfall, said that the economic slowdown, particularly the muted sales in the automobile sector, is leading to lower collections in the new indirect tax regime. Speaking at an event, he said that the automobile sector is a major contributor to the GST compensation pool.

    "One of the things that it (govt) can also do is to give stronger fiscal stimulus,"Kumar Mangalam Birla said.

    Replying to a debate on the legislation, Sitharaman said a negative list of activities that do not constitute manufacturing has been created and will not be eligible for the lower 15 per cent tax rate for manufacturing firms that are set up after October 1 and that begin operations by 2023.

    It processed 2.10 crore tax refund cases for current Assessment Year 2019-20 as on November 28, 2019, compared to 1.75 crore refunds for the same period in FY 2018-19, an increase of 20 per cent. The total amount of refunds issued in FY 2019-20 till Nov 28 was Rs 1.46 lakh cr as compared to Rs 1.19 lakh cr in the same period of the previous year.

    FM Sitharaman had in September announced corporate tax rate cut from an effective 35% (including surcharges and cesses) to an effective 25.17% while the rate for new manufacturing companies reduced to 15% from 25%.

    The French parliament infuriated the administration of President Donald Trump in July by adopting a law taxing digital firms like Google, Apple, Facebook and Amazon for revenues earned inside the country. Talks to resolve the issue have so far failed, and on Monday Washington threatened to impose tariffs of up to 100% on $2.4 billion in French goods.

    ELSS and IDFC Tax Advantage ELSS fund Equity Linked Saving Scheme ELSS is a category of mutual fund that lets you invest in equity market for long term w...

    “The forthcoming union budget will also provide better insight into further measures to be undertaken by the government and its impact on growth. Against this backdrop, the MPC judged that there is monetary policy space for further action, but it felt it appropriate to take a pause at this juncture.”

Load More...
x

Other useful Links


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service