Goods and Services Tax (GST) has been rolled out from July 1, and most of the services attract a higher tax slab of 18 percent compared to around 15 percent service tax charged earlier.
At present, the declarations on the label are printed in such small fonts that consumers have complained to the government and even made representation to address the issue.
In a bonanza to central government employees, the Union Cabinet had last month approved recommendations of the CPC with 34 modifications, which will mean an additional annual burden of Rs 30,748 crore on the exchequer.
Here is the complete list of 197 allowances modified, abolished or retained as per the gazzeted notification dated July 6, 2017.
Here is the list of allowances recommended by the Seventh Central Pay Commission (7 th CPC) along with modifications as approved by the central government.
The government has more than doubled risk and hardship allowance for armymen in Siachen and hiked the same for security forces deployed for counter insurgency operations and in Naxal-hit areas.
These categories of individuals are exempted from mandatory linking of PAN with Aadhaar card.
All allowances given under 7th Pay Commission recommendation will be effective from 1st July 2017.
Now senior citizens will have the option to avail either the full concession provided to them on rail tickets or half of it.
Retirement fund body EPFO is likely to announce the interest rate on PF deposits for this fiscal at its trustee meeting slated for next month.
For the central government employees belonging to highest level in the pay matrix, HRA has been increased from Rs 27,000 to Rs 60,000, meaning a hike of 122 percent. However, the HRA for these employees will be revised upwards to Rs 67,500, and Rs 75,000 when DA crosses 25% and 50% respectively.
As the world debates use of big data and analytics to improve financial inclusion, India's Aadhaar system has come in for praise by a global body on financial reforms for expanding banking reach and lesser use of cash.
The new notes of Rs 200 is expected to be out before the end of 2017.
Retirement fund body EPFO on Wednesday inked pacts with five banks for collections of PF dues and to make payments of PF withdrawals, pension and insurance.
Retirement fund body EPFO has decided to invest in corporate bonds in the AA+ investment grade, a notch lower than the earlier norm of AAA, a move that will help it park around Rs 3,000 crore per annum in such securities.
The loans, which are for motorcycles with an engine displacement of over 500 cubic centimetres (cc), will come at a price tag of 10-11 percent per annum.
The new notes will rather be circulated via bank branches like that in the case of Rs 10, Rs 20 and Rs 50 currency notes.
An SC bench has once again ignited the hope among many people for opening up of a window to exchange demonetised currency for those who could not do so by December 30, 2016 or by March 31.
One of the latest rumours doing rounds is on messaging app WhatsApp. It says that GST will be levied twice if utility bills for services such as telephone, mobile, gas, electricity are paid through credit cards.
Restrictions on cash dealings of Rs 2 lakh or more will not apply to credit card bill payments, business correspondents appointed by banks and issuers of prepaid instruments, the revenue department has said.