Indian Subcontinent Industries Market

GST collections reach 1 Trillion mark after 8 months gap

Goods and Services Tax (GST) collections crossed Rs one trillion mark for the first time in eight months in October, indicating the economy picked from September after India eased a lockdown to contain the spread of the coronavirus.  At Rs 1.05 trillion, collections were not only ten per cent higher than Rs 95,379 crore a 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 Indian Subcontinent Industries Market

Does annual turnover of up to Rs 40 lakhs are exempt from GST could help States recover dues?!

The Ministry of Finance on Monday said that businesses with an annual turnover of up to Rs 40 lakhs are exempt from GST and those with a turnover up to Rs 1.5 crore can opt for the Composition Scheme and pay only one per cent tax,   Earlier, the GST exemption limit was Rs 20 Read More…

America Business Industries Market World

Unprecedented : US crude oil prices turned negative

Global stocks fell drastically on Tuesday, a day after US crude oil prices turned negative for the first time in the History of Oil trade , as dismal company earnings reports underlined worries about economic damage from the coronavirus pandemic.   MSCI’s All Country World Index, which tracks stocks across 49 countries, was down 0.8 Read More…