-Business Standard Govt told to be consistent on capital infusion criteria The Comptroller and Auditor General of India (CAG) has slammed the managements and statutory auditors of 12 public sector banks (PSBs) for overstating their net profit, by underestimating non-performing assets (NPAs) and under-providing for these bad assets during 2016-17. Also, there were differences in the classification of and provisioning for assets between five banks and the Reserve Bank (RBI) but as the...
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Ragpickers hit hard by GST -Mohit M Rao
-The Hindu Plastic recyclers protecting margins by paying less for waste plastic Bengaluru: As the nation ushered in the Goods and Services Tax (GST) on July 1, no one would have imagined that it might have adverse consequences for the environment. But with the tax rate on recycled plastic shooting up from 5.5% to 18% post-GST, ragpicking as a livelihood seems to be turning unviable, with attendant impact on the urban environment. Take...
More »May I Overcharge You? -Arindam Mukherjee and Lola Nayar
-Outlook Banks are fleecing customers to shore up their profits and offset the dead weight of bad loans to corporates When the GST era dawned this month, online jokesters quipped that it was the most inscrutable thing after Duckworth Lewis. But paradoxically, it may have brought a disquieting clarity to another zone of universal experience. Amid the flurry of news reports detailing what would entail a higher tax of 18 per cent,...
More »Register with GST, don't wait till July 30 deadline: Govt to traders
-The Times of India NEW DELHI: The government urged traders on Saturday to register for the goods and services tax (GST) soon, and not wait for the July 30 deadline. If one is owns a business with an aggregate turnover exceeding Rs 20 lakh in the preceding financial year (Rs 10 lakh in special-category states), they will need to register in all the states and Union territories to which they make...
More »40,000 cloth artisans in Ludhiana stare at job loss as they fall out of GST chain -Sumeer Singh
-Hindustan Times Rehman, who is in the embroidery business for more than 15 years, is one of thousands of artisans who are unable to get work as they did not register under GST, as is required now, and neither have textile firms that sent them cloth to work on. Ludhiana: Tucked away in the outskirts of the industrial city of Ludhiana, in New Kundan Puri area, embroiderer Abdul Rehman is sitting...
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