Bangladesh Indian Subcontinent Industries Jobs Market World

10.3% fall of economy Reports IMF Indicates we below Bangladesh says Gandhi

The Indian economy, severely hit by the coronavirus pandemic, is projected to contract by a massive 10.3 per cent this year, the International Monetary Fund had said .   India if put its house properly then is likely to bounce back with an impressive 8.8 per cent growth rate in 2021, thus regaining the position Read More…

High Court Industries Life Style South India

Idlis in hotel , cakes in bakery are branded item or not .. hearing on November 18 : High Court

Dealers of unbranded food or drink (except star hotels recognised by the Tourism Department) are offered five per cent tax rebate.   But while assessing the tax liabilities of Chocko Choza’s baked goods sold without any independent registered brand or mark, the assessing officer treated them as “branded goods” resulting in them losing the rebate. Read More…

Corona Virus Health Indian Subcontinent Industries Life Science medical

500 million Vaccines to 25 crore Indians by July 2021 : Health Minister Harsh Vardhan

Union health minister Harsh Vardhan said on Sunday that coronavirus vaccines for India would be procured centrally and that details of this would be public in the coming months.   “The government is working round the clock to ensure fair and equitable distribution of vaccines once they are ready,” Vardhan said as he responded to Read More…

Companies Indian Subcontinent Industries Jobs

September 2020 GST collections increase confirms Lockdown relaxations yields Sales

Though corona virus spread has increased and India become the world fastest cases per day in the global touching 6.4 million and ranks 2nd in the global list next to USA . But thanks to relax of lockdown and  gross GST revenue collected in the month of September rose sequentially to Rs 95,480 crore from Read More…

Industries Protest

CAG exposes how Modi Govt fouled and converted Loss made Railway accounts 2018-19 in to Profit

In a report tabled in Parliament on Wednesday 23rd September, the Comptroller and Auditor General of India (CAG) has flagged the findings that the Indian Railways resorted to “window dressing” to show a surplus, instead of the loss incurred in the financial year 2018-19.   The Indian Railways have accounted an advance freight amount of Read More…

Business Companies High Court Industries Market

GST : Two High courts given two different orders on Single issue causes havoc

Inside GST  Input tax collection higher than the output tax paid tax Single issue , two High courts given two different orders raised confusions    Contrary to a Gujarat High Court (HC) verdict, the Madras HC on Monday held Rule 89(5) inserted by the government under the CGST Act on restricting such input tax refunds Read More…

Companies Industries Market

More regulations for Indian Importers from duty concession under Free trade agreements Countries

Beginning Monday 21 September 2020 , importers need to furnish proof of 35 per cent value addition in goods from the country of origin to claim duty concession under free trade agreements (FTAs).   According to the officials, just a certificate by the exporter would not suffice. It will be the importer’s responsibility to ensure Read More…

Companies Indian Subcontinent Industries Jobs Market

Drop of direct tax by 31% and indirect tax by 11 % alarms worst fiscal deficit in cards

According to data provided by Minister of State for Finance Anurag Thakur in Lok Sabha :   The net direct tax collection in April-August period of the current fiscal was 31.1 per cent lower on year-on-year (YoY) basis at over Rs 1.92 lakh crore During the same period of the last financial year, 2018-19, the Read More…

Agriculture Industries Parliament

Pandemonium in Rajya Saba over Farmer bill , Opposition Cries Foul and death of democracy

As Parliament passed the two contentious agricultural Bills on Sunday, former Finance Minister P Chidambaram asked the government how it will guarantee that farmers get the minimum support price (MSP) for their produce.   “Agriculture Minister says that government will guarantee that the farmer will get MSP.  Private trade takes place even today. The price Read More…