Indian Economy and Trade News, Indian Monetary & Trade Policy News

One-Time Settlement Of Pre-GST Dues Is Punjab Government's Diwali Gift For Traders

NDTV News Desk | Monday November 06, 2023, New Delhi

In a major Diwali gift to traders of the state, the Punjab cabinet led by Chief Minister Bhagwant Singh Mann today approved the Punjab one-time settlement (OTS) scheme for pre-GST arrears, which will benefit over 60,000 traders.

India Imposes $800 Per Tonne Minimum Export Price On Onion

Press Trust of India | Saturday October 28, 2023, New Delhi

The government on Saturday imposed a minimum export price (MEP) of USD 800 per tonne on onion exports till December 31 this year with a view to increase availability of the vegetable in the domestic market and contain prices.

18% GST On Corporate Guarantees For Their Subsidiaries

Press Trust of India | Saturday October 07, 2023, New Delhi

The GST Council on Saturday clarified that guarantees provided by corporates to their subsidiaries will attract an 18 per cent GST, while no tax will be levied if a personal guarantee is given by a director to the company.

5% GST On Millet-Based Flour If Sold In Pre-Packaged, Labelled Form

Press Trust of India | Saturday October 07, 2023, New Delhi

The GST Council on Saturday decided to levy a lower 5 per cent tax on millet-based flour when sold in pre-packaged and labelled form, Finance Minister Nirmala Sitharaman said.

Over 30 Lakh Audit Reports Filed On Income Tax Department Website

Asian News International | Monday October 02, 2023, New Delhi

Over 30 lakh audit reports (TAR) were filed till September 30 on the e-filing portal of the Income Tax Department, the tax authority said on Monday.

Basic Duties On 8 US Products To Stay, Only Retaliatory Tax Gone: Official

Press Trust of India | Saturday September 16, 2023, New Delhi

The basic customs duties and other levies will continue on eight products, including apple and walnut from the US as well as other countries, a senior government official said on Friday.

"India Uniquely Placed": RBI Governor On Tackling Inflation - Top Quotes

Edited by Samiran Mishra | Thursday August 10, 2023, New Delhi

The Reserve Bank of India (RBI) kept its key lending rate unchanged for the third consecutive time, as it continued to monitor inflation closely. In a bi-monthly monetary policy announcement today, RBI Governor Shaktikanta Das said that the Monetary Policy Committee (MPC) has unanimously decided to maintain the repo rate at 6.5%.

RBI Predicts Rise In Inflation But Keeps Key Lending Rate Unchanged

Reported by Priyanshi Sharma, Edited by Chandrajit Mitra | Thursday August 10, 2023, Mumbai

The Reserve Bank of India (RBI)today kept the key lending rate unchanged at 6.5% for the third time in a row, but said inflation rates are likely to rise led by vegetable prices.

G20 Finance Ministers Discuss Ways To Improve Tax Transparency

Press Trust of India | Tuesday July 18, 2023, Gandhinagar

G20 finance ministers on Tuesday discussed strategies to implement strategies for overhauling the global tax norms to ensure that multinational companies pay taxes wherever they operate.

Sustaining 19.5% Growth In Direct Tax Collection In FY24 May Be Difficult: Report

Press Trust of India | Friday January 20, 2023, New Delhi

The expected lower nominal GDP growth in 2023-24 on the back of threats of global recession could impact income tax collection, the government source told reporters ahead of the presentation of Union Budget 2023-24 on February 1.

Opinion: Budget 2023 - What To Expect From PM Modi

Andy Mukherjee, Bloomberg Opinion | Friday January 20, 2023

PM Modi's core economic agenda is to promote India as a rival manufacturing destination to China. He has sought to achieve this by incentivizing private factory expenditure and allocating more state resources to infrastructure, particularly rail and road. uncertain global demand and lackluster domestic consumption may keep a lid on private investment. The Indian government's own capital expenditure will have to do the heavy lifting.