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Changes to GST rules announced on Friday are welcome, but the question that arises is why the measures were taken only after industry suffered pain due to procedural hurdles for over three months

Company had sought concessions, including duty exemption on repair units for smartphone manufacturing

He won the prize for his pioneering work to bridge the gap between economics and psychology

CM Raman Singh takes charge of campaign, calls for use of clay lamps instead of electronic lights

PM Modi also flagged the potential of biomass energy and also invited participation and joint ventures in coal gasification

Real estate developers are now focusing on affordable housing

The govt has set a target of Rs 15k crore to be raised from disinvestment of PSUs in current fiscal

The Union government says there will be investment opportunities worth $300 billion in the petroleum sector over the next 10 years. In a three-hour meeting on Monday with global companies, chaired by Prime Minister Narendra Modi, the government sought further investments in the country's oil and gas sector.It highlighted new policies, including last week's relief for petroleum exploration and production in the goods and services tax (GST) -- the levy on offshore exploration, beyond 12 nautical miles, goes from the 18 per cent slab to the 12 per cent one. However, industry leaders say this is not such a big thing; exploration in this region was tax-free in the pre-GST era. "Many participants strongly recommended the inclusion of gas and electricity in the GST framework," went a government statement. The meeting was attended by, among others, BP's chief executive officer, Bob Dudley; Saudi Aramco CEO Amin H Naseer; Rosneft chief Igor Sechin; Reliance Industries chairman Mukesh Ambani ...

Last date for filing GSTR-1 for July is 10th October

To compensate farmers for any sudden and unexpected drop in open market prices of commodities, the Central government is contemplating variety of options which could include giving states freedom to purchase farm produce other than grains as and when required and also a national price deficit scheme on the lines of one floated by Madhya Pradesh recently.On the latter (price deficit scheme) though, opinion is divided within the government with a section feeling that such an initiative is fraught with challenges and could lead to operational difficulties on ground if expanded at the national level. Sources said senior officials from the Madhya Pradesh government was recently in the capital to apprise the Centre about the scheme and its performance so far.The market assurance scheme or system (MAS) as being is proposed within the government gives the states all the powers to purchase any commodity whose price have fallen below the Minimum Support Price (MSP) without waiting for any ...

The government has ruled out any further extension for filing supply returns for the goods and services tax for the month of July, deadline of which will end tomorrow.Generally, supply returns -- GSTR1-- should be filed by 10th of the next month, but the GST Council had given relief in deadlines for the month of July. The deadline for July was extended till September 5, which was against stretched till September 10 after many assessees complained of system problems in GSTNetwork. After GSTN again faced glitches, the deadline was extended till October 10. "No further extension will be given to taxpayers for filing their GSTR 1 return for July 2017 for which the last date is October 10," the ministry of finance said in a statement here. Taxpayers who have not yet filed their GSTR-1 for July are advised to do so immediately, the ministry said.Once a taxpayer files GSTR-1 by October 10, the corresponding entries in GSTR-2A of his buyer shall get auto populated. The buyer shall finalize ...

Govt is considers spending between Rs 400 to 500 billion more this financial year than it had budgeted for

Thaler today won the Nobel Prize in Economic Sciences

According to Kant, CEOs said that India has potential to become a gas-based economy

Government mulls allowing firms to become insolvency resolution professionals

About 63 per cent of eligible payers have filed the summarised return

Once a taxpayer files GSTR-1 by October 10, the corresponding entries in GSTR-2A of his buyer shall get auto populated

Here is why nations are converging in Morocco for the 2-day meet and what this means for trade

Against the GST, high diesel prices, harassment by authorities on roads and toll policies

A person can purchase the goods on payment of GST, export the goods either without payment of IGST under letter of undertaking or on payment of IGST under claim of refund

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