Economy hit by Covid-19 second wave to start recovering from July, says CEA Subramanian – Times of India

Share this…FacebookPinterestTwitterLinkedinTumblr NEW DELHI: Chief economic advisor (CEA) KV Subramanian on Thursday said that the second wave of Covid-19 has affected the momentum of economic recovery. However, he also pointed that he expects a recovery in the economy from July onwards. “The second wave of Covid-19 has affected the momentum of economic recovery. We expect […]

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Panel to look at GST on Covid items – Times of India

Share this…FacebookPinterestTwitterLinkedinTumblr NEW DELHI: The GST Council on Friday deferred a decision on cutting rates for a number of products related to combating Covid-19, while exempting a medicine used for treatment of black fungus and relief material such as medical oxygen and concentrators, even if imported on payment basis, from payment of integrated GST. The […]

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GST Council leaves tax rate on Covid vaccines, medical supplies unchanged; ministerial panel to look into issue – Times of India

Share this…FacebookPinterestTwitterLinkedinTumblr NEW DELHI: The GST Council on Friday left taxes on Covid-19 vaccines and medical supplies unchanged after the BJP- and Opposition-ruled states sparred over whether the tax cut benefits will reach the common man. Congress and other Opposition ruled states have been demanding a reduction in taxes but the central government felt the […]

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Need complete trust between industry, govt to sustain growth amid COVID-19 situation: Nirmala Sitharaman

Share this…FacebookPinterestTwitterLinkedinTumblr “During this ongoing second wave, look at the steps which we have taken. Revival will continue to happen,” said Finance Minister Nirmala Sitharaman Finance Minister Nirmala Sitharaman on April 20 said there should be complete trust between the industry and the government to sustain growth amid the COVID-19 situation. Ms. Sitharaman, addressing a […]

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Nirmala Sitharaman: Government working to save lives, livelihood: Nirmala Sitharaman tells India Inc amid Covid surge – Times of India

Share this…FacebookPinterestTwitterLinkedinTumblr NEW DELHI: Finance minister Nirmala Sitharaman on Monday said she has taken inputs from various industry chambers on concerns of India Inc with regard to the management of Covid-19 pandemic and the centre would continue to work with state governments to save lives and livelihood. She sought feedback from businesses to deal with […]

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Direct tax collections top revised estimates by 5% – Times of India

Share this…FacebookPinterestTwitterLinkedinTumblr NEW DELHI: The Centre’s direct tax collections, net of refunds, were estimated at Rs 9.45 lakh crore during 2020-21, around 5% higher than the revised estimates of Rs 9.05 lakh crore for the financial year, the government said on Friday. Both corporation tax and personal income tax collections turned out to be higher […]

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Centre’s fiscal deficit at 76% of revised estimates during Apr-Feb: CGA

Share this…FacebookPinterestTwitterLinkedinTumblr The central government’s fiscal deficit at the end of February worked out to be 76% of the revised estimate, indicating that it is likely to remain within the projections made by Finance Minister Nirmala Sitharaman last month. The minister had revised the fiscal deficit projections for 2020-21 to ₹18.48 lakh crore or 9.5% […]

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No digital tax if goods, services sold via Indian arm of foreign e-commerce players

Share this…FacebookPinterestTwitterLinkedinTumblr The digital tax introduced in April 2020, applies only to non-resident companies with annual revenues in excess of ₹2 crore, and covers online sales of goods and services to Indians. In a bid to provide a level-playing field, the government has decided not to levy 2% digital service tax if goods and services […]

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Not possible to bring petrol, diesel in GST regime even for next 8-10 yrs: Sushil Modi

Share this…FacebookPinterestTwitterLinkedinTumblr Finance Minister Nirmala Sitharaman had on Tuesday said in Lok Sabha that she would be “glad” to discuss the suggestion of bringing petrol and diesel under the ambit of the Goods and Services Tax at the next meeting of the GST Council. Bringing petrol and diesel under the GST regime is not possible […]

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PF tax-free up to Rs 5 lakh if employer doesn’t contribute – Times of India

Share this…FacebookPinterestTwitterLinkedinTumblr NEW DELHI: The Lok Sabha on Wednesday approved tax proposals after finance minister Nirmala Sitharaman moved 127 amendments, including a minor tweak to the provision on annual provident fund contribution of over Rs 2.5 lakh apart from offering a tax holiday of up to 10 years for development finance institutions. While announcing the […]

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