-Livemint.com Here are some FAQs about the Goods and Services Tax (GST) slated for rollout on 1 July What is GST? Goods and Services Tax (GST) is a value-added tax at each stage of the supply of goods and services precisely on the amount of value addition achieved. It seeks to eliminate inefficiencies in the tax system that result in ‘tax on tax’, known as cascading of taxes. GST is a destination-based...
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Gold and note ban: How black money turned white, then yellow -Rajesh Bhayani
-Business Standard Gold imports in January-March 2017 were the most since the same quarter of 2013 January-March 2017 has been the best fourth quarter in terms of gold imports since early 2013. Gold imports in the last quarter stood at 230 tonnes, and more than 100 tonnes is estimated to have been imported in March alone. But for the blip in December, gold imports have gone up significantly following the government’s announcement of demonetisation,...
More »CAG protests refusal of access to GSTN data -Pradeep Thakur
-The Times of India NEW DELHI: The Comptroller and Auditor General (CAG) has protested with the finance ministry against the Goods and Services Tax Network (GSTN), a special purpose vehicle majority owned by private companies, refusing to give access to taxpayers data on its network for scrutiny and audit. The GSTN is a private limited company floated to aid the rollout of the new indirect tax regime. The company will provide information...
More »Govt considering imposing import duty on wheat: Agriculture Secy
-PTI New Delhi: The government is considering imposing import duty on wheat in order to protect farmers amid projections of a record output this year, Agriculture Secretary Shobhana K. Pattanayak said today. On December 8, the government had reduced Customs duty on wheat to zero from 10 per cent to boost domestic availability and check retail prices. Now that the country is all set to harvest a record production of 96.64 million tonnes...
More »Plenty wrong with the new maternity Bill -Subramanyam S
-The Hindu Business Line By trying to appear more women-friendly than is necessary, the law may deter industry from employing women altogether The amendment to the maternity Bill, long overdue, calls for some serious reconsideration due to its skewed philosophy. While the most prominent flaw is its emphasis on employees in the new-age services sector, there are several other shortcomings. What is wrong Firstly, the need for expansion of the existing benefit lacks scientific basis....
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