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GAAR from April 1, 2017; to be invoked in fair, rational manner: CBDT

GAAR from April 1, 2017; to be invoked in fair, rational manner: CBDT

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 provided by advocates covered under GST: CBEC Legal services provided by advocates covered under GST: CBEC

Legal services, including representational services, provided by advocated are covered under reverse charge of GST, it said.

India remains fastest growing G20 economy under PM Modi India remains fastest growing G20 economy under PM Modi

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. 

 

GST registration closes on July 30 GST registration closes on July 30

To take the registration, a trader needs to file an online application on the portal https://www.gst.gov.in/ for which a valid PAN, email id and a mobile number is a must. 

PM Modi holds FDI policy's review meet PM Modi holds FDI policy's review meet

Commerce and Industry Minister Nirmala Sitharaman, among others, attended the meeting which was held at the Prime Minister`s residence.  

India's trade deficit narrows to $13 billion in June India's trade deficit narrows to $13 billion in June

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.

Finance Minister reviews performance of NIIF Finance Minister reviews performance of NIIF

NIIF was set up as the investment vehicle in 2015 and has a mandate to fund commercially viable greenfield, brownfield and stalled projects.

GST to severely dent liquidity of exporters: FIEO GST to severely dent liquidity of exporters: FIEO

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.

WPI inflation falls sharply to 0.90% in June, food prices ease WPI inflation falls sharply to 0.90% in June, food prices ease

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.

WPI inflation eases to 0.9 percent in June WPI inflation eases to 0.9 percent in June

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 nation 3 years ahead in digital payments: SBI Ecoflash Demonetisation has brought nation 3 years ahead in digital payments: SBI Ecoflash

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 to review FDI policy tomorrow Prime Minister Narendra Modi to review FDI policy tomorrow

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.

 

Coal scam case: Only SC will hear pleas challenging special court order Coal scam case: Only SC will hear pleas challenging special court order

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.

RBI keeping a close watch on cryptocurrencies: Patel RBI keeping a close watch on cryptocurrencies: Patel

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.

 

Low inflation: CEA wants careful look at data by policy makers Low inflation: CEA wants careful look at data by policy makers

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".

Parliamentary panel to submit demonetisation report in Monsoon Session

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.

7.28 crore got self-employed: Amit Shah's answer to 'jobless growth' critics 7.28 crore got self-employed: Amit Shah's answer to 'jobless growth' critics

"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.

India's industrial growth falls to 1.7% in May; inflation at record low of 1.54% India's industrial growth falls to 1.7% in May; inflation at record low of 1.54%

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.

In India NPA is viewed as criminal: Bhattacharya

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.

Nearly 67 crore bank accounts seeded with Aadhaar: IT Minister Nearly 67 crore bank accounts seeded with Aadhaar: IT Minister

Digital India drive under Prime Minister Narendra Modi ensured that every Rs 100 subsidy to the poor fully reaches the bank account of beneficiary.

Govt to push Banking Regulation Bill in Monsoon Session Govt to push Banking Regulation Bill in Monsoon Session

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.