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The reserve bank of India got a new governor namely Shaktikanta Das, who was also a former economic affairs secretary and also the member of finance commision currently.
Recently the central government made an amendment into the legislation on the compensation cess under GST which made the centre very rightful in claiming a stake in ‘the unutilised (amount) in the Fund at any point of time in any financial year during the transition period’.
An SBI research reported that the progressive credit given to the MSEs (Micro and small enterprises) has been increased to Rs 1.23 crore i.e. five times after the GST.
Finance Minister Arun Jaitley has made up his mind to create a federal institution like GST Council for the farm sector and healthcare.
Digital is one word that would be synonymous to the year 2018 in India. From GSTN to e-Way Bill, the finance sector, by far than any other Industry, went through the most aggressive digital; makeover in recent years.
Penal Interests can be excruciatingly painful. Not only do they increase the burden on the borrower, but they can also trigger a host of secondary financial burdens on an individual/family.
A senior official said that the tax evasion worth Rs 29,088 crores in 1,835 cases during April-October period in the present fiscal year has been detected by the investigation arm of the finance ministry.
The telecom sector has witnessed one of its worst financial years amidst the disrupting tariff wars. The tariff war was sparked by the entry of Jio which offered affordable data plans with free voice and SMS services to its customers.
A big relief to GST assessees particularly for the dealers, as Kerala High Court has recently announced that the petitioners now can make changes if the GST mistakenly paid under the wrong head.
