GAAR, it said, will come into force from April 1 and can be invoked only through a two-stage process involving a nod at the level of principal commissioner of income tax and a panel headed by a high court judge.
The all powerful GST Council will meet on Sunday to review some of the rates on which industry has expressed displeasure, besides amending the draft rules.
RBI governor Urjit Patel will on July 6 appear before a parliamentary panel which has called him for the fourth time to discuss the demonetisation move.
The GST Council has set up 18 sectoral groups to interact with the sectors like telecom, banking and export and sort out their issues in a time-bound manner for a smooth transition to the new indirect tax regime.
Railway Minister Suresh Prabhu will inaugurate the redevelopment work of the station on June 9.
Government plans to auction country’s most prominent railway stations as part of its Public Private Partnership (PPP) projects that involves redeveloping these stations.
The government proposes to make it mandatory for Indian air travellers to provide a unique identification (UID) like Aadhaar, passport or PAN card at the time of booking tickets, Civil Aviation Minister Jayant Sinha said on Thursday, while announcing the launch of the digital travel experience initiative - Digiyatra - for fliers.
A cut in interest rates will not necessarily increase liquidity and growth, former RBI governor Y V Reddy said on Thursday amid rising tension between the central bank and the government after the former left key policy rate unchanged.
The government on Thursday said foodgrains, flour, milk, vegetables and fruits will get cheaper by up to 5 percent once the Goods and Services Tax is rolled out.
Despite stagnant foreign direct investment (FDI) inflow of USD 44 billion in 2016, India will most likely remain most favoured destination due to its attractiveness among MNCs for cross-border mergers and acquisitions, a UN trade report has said.
The Reserve Bank is expected to leave key interest rates unchanged in the current financial year despite low inflationary pressures and might go for a cumulative 50 bps rate hike next April, says a Nomura report.
The revision in fuel prices will be in sync with international rates, much like it happens in most advanced markets.
India's growth is likely to remain unchanged at 7.1 percent this fiscal, as investments are low and government spending may not remain high given the fiscal consolidation path the country is treading, says a report.
Air-conditioned local trains will start plying on the suburban sections of Mumbai from September this year.
The government on Wednesday approved higher support price of 14 kharif crops including paddy and pulses in a bid to provide comfort to farmers who begin sowing in full swing from next month.
Raising its concern on state governments waiving off farm loans, the Reserve Bank of India (RBI) on Wednesday said that such actions increase the risk of slippages and contribute to inflation sooner or later.
The finance ministry on Wednesday said it has gradually abolished various cesses on goods and services in the last three Budgets, and 13 more through the Taxation Laws Amendment Act 2017, in the run up to the July 1 rollout of GST.
RBI expects retail inflation to fall to 2-3.5 percent in the first half of current fiscal and move up to 4.5 percent in the second half saying that rush for farm loan waivers may have inflationary spillovers.
Here are the key highlights of second bi-monthly monetary policy for 2017-18 as announced by RBI on Wednesday (June 7).
India is among the top five consumer markets in Asia offering retailers consumer spending growth of an average of 6.1 percent over the next five years, says a report.
RBI Governor Urjit Patel- led Monetary Policy Committee (MPC) kept the repo rate unchanged at 6.25 percent.