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Peculiarly, the sector that sums up half of India’s employment – Agriculture, has been overlooked and Indian farmers have been sufferers of ineffective policy and its inept implementation under the Five-Year-Plans Regime. Since the beginning of the Five-Year-Plans era when the successive government entered the administration and numerous policy revamps have taken place since independence, […]
Determined by Fitch Solutions, India’s fiscal deficit forecast has increased to 3.6% of the GDP for this FY from 3.4% mentioned earlier. This hike is because of the week revenue collections which is again due to dismal economic growth and government’s widening corporate tax rate cut. “We at Fitch Solutions are revising the fiscal forecast […]
As the sources confirm, India’s defence budget will soon witness a hike of more than Rs. 60,000 crore all thanks to the exemptions from the customs duty and contributions from goods and service tax that escalated from October 1. Defence Minister Rajnath Singh claimed this to be a game-changer for defence ministry as this will […]
Experts have recommended the unification of multiple tax rate slabs under the indirect taxation system in India, quoting the example of Singapore – an island city-state which has one tax rate under GST. Multiple tax rates in India leads to ambiguity and upsets the compliance whereas one tax rate simplifies the adherence to the tax-related […]
Discussion will be held in its 1st meeting among the centre & state official of GST review panel which formed last week, regarding the measures to heat up the administration against the Goods & Service Tax (GST) offenders caught by the software especially invented for detecting the deceitful acts such as tax evasion and false […]
Biggest reformation ever since the GST regime has started is anticipated to be introduced by the government to upsurge the GST collection and seal the tax evasions. Contrary to the GST collection target of 13% set by the government at the start of 2019, the GST collection rate has remained below 5% in the first […]
Listed out by legal authorities are some renowned Indian clusters and foreign banks suspected of allowing Indian entities or subsidiaries operating in India to use their brand names and logos for free. The Tax department on this has commanded (via legal notices) such entities to put a valuation on brand names and logos owned by […]
Various changes in different sectors including banking, driving license and GST from 1 October 2019 i.e. from today are going to significantly affect our lifestyles and budgets. According to the Reserve Bank guidelines, the banks will offer retail loans at repo rate linked interest rate, from today. At the same time, due to the revision […]
The current situation is a catastrophe for the income tax governance as the revenue collection target for 2019-20 is seeming beyond the reach. The first half of the financial year (April to mid-September) has ended with lower than expected growth in revenue collection, giving the signs of a severe economic slowdown. The advance tax collection […]
