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.
Legal services, including representational services, provided by advocated are covered under reverse charge of GST, it said.
Economic growth is projected to remain strong and India will remain the fastest growing G20 economy, according to the latest edition of the OECD`s economic outlook report on India."Growth remains strong.
Commerce and Industry Minister Nirmala Sitharaman, among others, attended the meeting which was held at the Prime Minister`s residence.
Economists in a Reuters poll had predicted that trade deficit would decline to $12.5 billion in June compared with a provisional $13.84 billion in the previous month.
NIIF was set up as the investment vehicle in 2015 and has a mandate to fund commercially viable greenfield, brownfield and stalled projects.
The Goods and Services Tax (GST) will severely dent the liquidity situation of traders and the compliance cost of merchant exporters may go up, top exporter body FIEO said on Friday.
Wholesale inflation fell to 0.90 per cent in June -- the lowest in at least eight months -- as prices in food articles, including vegetables, declined.
India`s wholesale prices further eased to 0.9 percent year-on-year in June, government data showed on Friday, in line with the decline in retail inflation.
Demonetisation has brought the nation at least three years ahead in digital payments, SBI Ecoflash stated in its latest issue published on Thursday.
Prime Minister Narendra Modi will review the foreign direct investment (FDI) policy on Friday with a view to removing bottlenecks to overseas inflows, sources said.
The Supreme Court on Thursday said that challenge to any order passed by the special court during pendency of trial in coal scam cases will be entertained only by it.
Members, including BJP MP Nishikant Dubey, said rise in usage of virtual currencies is a matter of concern as it is difficult to establish the source of funds.
The historically low level of retail inflation at 1.54 percent in June reflects the firm and ongoing consolidation of macro-economic stability, Chief Economic Adviser Arvind Subramanian said on Wednesday, suggesting that all policy makers look at data "very, very carefully".
The Parliamentary panel on finance will present its report on demonetisation in the upcoming Monsoon Session and RBI Governor will not be called again on the note ban issue, the committee's chairman M Veerappa Moily said on Wednesday.
"Economic pundits" may be criticising the Modi government for a "jobless growth", but India cannot tackle unemployment only with jobs, BJP president Amit Shah has said, noting that 7.28 crore people have become self-employed under the Centre's Mudra loan scheme in three years.
Industrial output growth dropped to 1.7 percent in May from 8 percent in the same month last year. On the other hand, retail inflation hit new low of 1.54 percent in June, down from 2.18 per cent in May.
With the Indian banking industry bearing the brunt of huge NPAs waiting for resolution, State Bank of India (SBI) chairman Arundhati Bhattacharya on Tuesday said that NPA is treated as criminal in the country.
Digital India drive under Prime Minister Narendra Modi ensured that every Rs 100 subsidy to the poor fully reaches the bank account of beneficiary.
The government in May promulgated an ordinance authorising the Reserve Bank to issue directions to banks to initiate insolvency resolution process in case of loan default.