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Bridging GST shortfall: Telangana 23rd state to choose Option 1

The states who have chosen option-1 are being disbursed the amount of shortfall arising out of GST implementation through a special borrowing window arranged by central government. The central government has said that Telangana has become the 23rd state to choose option-1 of the borrowing plan, under a mechanism to raise resources to compensate states …

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Govt invites transaction advisor for FSNL disinvestment

As on March 2020, FSNL had 685 employees including 542 non-executives. The government has invited request for proposal for engaging transaction advisor for the strategic disinvestment of state-run Ferro Scrap Nigam (FSNL), a company that earned Rs 31-crore net profit on a revenue of Rs 410 crore in 2019-20. The government will transfer management control …

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India may have slightly higher tariffs, but advanced nations keep much higher NTBs

Indian exporters have already pointed out that some of the common NTBs that they are subjected to are stringent rules on product certification, labelling standards and import approval requirements. Major developed and developing countries, such as the US, China, South Korea, Japan and those in the EU, have erected huge non-tariff barriers (NTBs) to mask …

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Will green shoots of economic recovery sustain? These stimulus measures needed urgently

Accelerating the growth trajectory requires addressing structural problems. The Indian economy has started to recover from the woes induced by the coronavirus pandemic, however, it is still premature to conclude that the economy has turned the corner. With the increasing caseload in many areas of the country, partial lockdowns are intact, thus affecting the ease …

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Income-Tax portal showing GST turnover to better compliance: Govt

The (I-T) income tax forms notified for the the current assessment year (AY 2020-21) makes it mandatory to report GST outward supplies. The revenue department on Monday clarified that the GST turnover details available to taxpayers on income-tax portal (Form 26AS) is aimed at providing additional information to the assessees without any extra compliance burden. …

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Shipments to West Asia decrease by nearly 50%

Exporters say the Covid outbreak accentuated a demand slowdown caused by subdued oil prices in the West-Asian region, mainly the UAE and Iran, while frosty political ties with Nepal and Pakistan has hit supplies to South Asia. It’s not just a Covid-induced slowdown in key markets — the US and the EU — that is …

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