13 states seek to borrow to meet GST gap

New Delhi, Sept. 14 -- At least 13 states have conveyed their preferred borrowing options that were discussed at the Goods and Services Tax (GST) Council's meeting last month for meeting their GST rev... Read More

Licence of 56 customs brokers suspended in one year: CBIC

New Delhi, Sept. 13 -- Licence of 56 customs brokers linked with fraudulent exporters have been cancelled in the last one year, said the Central Board of Indirect Taxes and Customs (CBIC). Out of the... Read More

Factories do better, growth a concern

New Delhi, Sept. 12 -- India's industrial production shrank at a slower pace in July than in the previous month, suggesting a recovery in economic activity after restrictions meant to control the coro... Read More

Centre recalibrates spending plan for FY21

New Delhi, Sept. 11 -- The government has classified its departments as priority and non-priority, and slashed the latter's budgets, in a bid to make savings and protect capital expenditure pledges ma... Read More

Centre slashes non-priority spend to keep Budget promise on capital expenditure

New Delhi, Sept. 11 -- Central government has recalibrated its spending plan for the current fiscal to protect the commitments made in the Union Budget towards capital expenditure. Accordingly it has... Read More

India's industrial output contracts at a lower pace in July

New Delhi, Sept. 11 -- India's industrial production contracted by 10.4% in July, a slower pace than the 16.6% contraction witnessed in the previous month, suggesting that economic activity was gainin... Read More

Foreign funds transfer to entail 5% levy from Oct 1

New Delhi, Sept. 10 -- Any amount sent abroad to buy foreign tour packages, and every other foreign remittance made above Rs 7 lakh, will attract a tax-collected-at source (TCS) beginning October 1 un... Read More

5% tax at source on foreign remittances to kick in from 1 October

New Delhi, Sept. 9 -- Those making foreign remittances need to pay attention to their tax collected at source (TCS) liability from next month as a key tax provision kicks in from 1 October. As per th... Read More

Weak demand a challenge, need a bold stimulus package, says industry

New Delhi, Sept. 9 -- Weak demand is the foremost challenge confronting India Inc., which calls for a bold stimulus package to energise businesses, said industry body Federation of Indian Chambers of ... Read More

Companies get three more months to hold AGMs till December end

New Delhi, Sept. 8 -- The government on Tuesday gave three months extra time for businesses to hold their annual general meetings (AGMs) in view of the rising cases of coronavirus infections. An offi... Read More