Economy News - Page 11

GST impact: Smartphones, medical devices, cement to cost less; rates beneficial to consumer, govt insists

A smartphone currently attracts 2 percent central excise duty and VAT, which vary from state to state (5 percent to 15 percent).

GST likely to hurt companies' working capital cycle, put strain on liquidity, says IndRa report

Easy system liquidity is necessary to minimise the magnitude of such disruption and to absorb the sudden changes in requirement of short-term finance

Coal scam case: Former coal secretary HC Gupta, two bureaucrats awarded 2-year jail term

Besides the jail term, the court also imposed a fine of Rs one lakh each on the three convicts.

RBI likely to announce guidelines to NPA ordinance within a fortnight

Banks have been reluctant to resolve NPAs through settlement schemes or sell bad loans with hair cut to asset reconstruction companies for fear of 3Cs -- CBI, CAG and CVC.

Bring petroleum products under GST; why destroy an architecture after creating it, asks Haseeb Drabu

While products like kerosene, naphtha and LPG will be under the ambit of GST, five items — crude oil, natural gas, aviation fuel, diesel and petrol — have been excluded from the basket for the initial years.

Maharashtra’s rural revolution-I: Make way UP and Gujarat, state aims to be the country’s No 1 milk producer

Behind this revamping of the state’s milk production, processing and distribution business, there are obviously some very canny political objectives in mind.

GST rate: Common man to benefit but why on earth is cinema clubbed with gambling?

At 28 percent, cinema halls will be clubbed in the same tax bracket of gambling/betting, five star hotels and casinos under GST

Bank NPA crisis: Narendra Modi needs to do a real ‘surgical strike’ on bad loans, not random shots

Now that March-deadline for the RBI has passed, have banks reported all of their NPAs keeping to the central bank deadline?

Digital India: Suresh Prabhu inaugurates Wi-Fi facility at 28 stations on Konkan Railway

Konkan Railway has tied up with broadband and internet service provider Joister to provide Wi-Fi facility at its stations.

Softbank-Saudi tech fund becomes world's biggest with $93 billion capital

The Saudi economy has been severely damaged by low oil prices, and policy makers are trying to diversify into new industries.

H-1B: Nasscom steps up lobbying with US lawmakers on visa, immigration curbs

The IT industry body paid a total amount of US $1,50,000 (nearly Rs 1 crore) to its two registered lobbyists in the first quarter of 2017.

GST will make domestic firms more competitive, streamline taxation, says Hasmukh Adhia

Adhia's comments come amid calls from some experts and a section of the industry for deferring the GST roll-out to September-October instead from July 1.

GST will cut inflation by 2%, boost India's economy: Hasmukh Adhia

Inflation will fall by two percent on implementation of the goods and services tax (GST) and will create buoyancy in the economy, Revenue Secretary Hasmukh Adhia has said.

Exporters to get refund within 7 days of claim under GST, says Nirmala Sitharaman

Exporters have been demanding <em>ab-initio </em>exemption from payment of taxes under the GST regime arguing that delay in refunds often takes months.

New WPI, IIP series a much required move, but here are a few issues govt should take up

Any index is created based on a basket of goods which exists at a point of time, which is taken to be the base year, and then is tracked either in quantity terms (IIP) or prices (WPI) over a period of time.

Experts on GST rates: Indeed a new beginning but telecom, insurance, hotel booking to pinch consumer

While some have supported the multiple rate structure for services some others have criticised it

GST rates finalised: Here's the bad news - despite the big reform we are the most-taxed people globally

We have happily created a GST regime with a taxation structure that is highest in the democratic world. Here's a brief comparison

GST rates impact: Service providers fear another inspector raj in offing

Finance Minister Arun Jaitley also played down concerns that higher headline rates would inflate the tax burden on consumers

Govt needs to step in when credit rating agencies do a lax job

Credit rating agencies made their advent to aid small investors and others who do not have the wherewithal to carry out their own credit risk assessment.

GST rates fixed: Finance ministry warns industry against increasing prices arbitrarily

The GST Act includes the provision of setting up an anti-profiteering authority to ensure that companies pass on the benefit of tax reduction to customers.

GST rate impact: Economy airfare to become cheaper, biz class costlier

The announcement is in line with the government's aim to make flying affordable for the masses.

GST rates fixed: A few concerns remain but big political, economic win for Narendra Modi

Any doubts whether 1 July rollout of GST is possible has been put to rest. With the major challenge of rate fitment done, the biggest tax reform is set to meet the deadline

GST rate on hybrid vehicles against green mobility: Auto industry

At present hybrid vehicles attract excise duty of 12.5 percent, similar to the ones on entry level small cars

GST rate: Telecom services to become expensive under new tax regime

Debt ridden telecom players, looking for a bail out package, expressed disappointment with the 18 percent GST rate

GST rates finalised for services; education, healthcare exempt, 5% for transports

Transport services will be taxed at 5 percent. This rate will apply to cab aggregators like Ola and Uber as well

SBI Q4 result is a silver lining for state-run banks, but it doesn’t mean all is well

An excellent case study for the Modi-government to find out what is wrong with the sarakri banks that private lenders have cracked

GST Council: Cheaper rates for daily items offer good news for common man; no unpleasant surprises so far

The MPC and RBI waiting for the rate structure to chart their future roadmap on inflation battle

Illegal mining: Uttar Pradesh lost Rs 478 cr revenue in 2015-16, says CAG

The 216-page CAG report said the necessity for filing and approval of a mining plan was ignored in the cases of 58 lessees.

RBI liberalises tier-I presence in new bank branch policy; expands role of boards

The RBI had constituted an internal working group before coming out with the draft guidelines, which were put in public domain for comments in October last year.

GST Council Srinagar meet: Sugar, tea, coffee and edible oil in 5% tax bracket

Milk and cereals will be among the exempted category, Revenue secretary Hasmukh Adhia said