Two-year extension of GST compensation cess levy likely to cover shortfall in tax collection

New Delhi (IANS) The GST Council is likely to approve a two-year extension of compensation cess levy on goods and services to allow Centre to pay entire shortfall in GST tax collection by states expected till June 2022.

Sources in the government…

SEBI may issue norms for minimum holding in liquid assets for MFs

New Delhi (IANS) The Securities and Exchange Board of India (SEBI) may soon come up with guidelines to mandate minimum asset allocation in liquid assets by debt mutual funds in their schemes.

Speaking at the Annual General Meeting of the Association…

Business sentiments recover, weak demand continues: CII Survey

New Delhi (IANS) With the gradual lifting of the restrictions on economic activities across the country, business sentiments have recovered with the CII Business Confidence Index surging to 50.3 in the July-September period.

During the April-June…

5% custom duty on Open Cell from Oct 1 even as domestic TV manufacturing yet to pick pace

New Delhi (IANS) Government will put five per cent customs duty on Open Cell, a key component for television manufacturing, from October 1, 2020, as one year exemption given to it ends on September 30.

The tax exemption on the key TV component…

No buyers for Air India may mean divestment to be put off

New Delhi (IANS) Air India is not finding any takers and the privatisation may be put off by three years, delivering a blow to the efforts to divest the national carrier.

It seems that due to the turbulence caused in the aviation sector by…

Centre proposes tax incentives for foreign funds shifting to GIFT City

New Delhi (IANS) In a bid to attract off-shore funds to set up their base in India, the Centre has proposed tax incentives or foreign funds who decide to shift their base to International Financial Services Centre (IFSC) at the Gujarat International…

Apple to celebrate Diwali with 1st India online store on Sep 23

New Delhi (IANS) Ending months of speculation, Apple is all set to launch its first exclusive online store in India on September 23 just ahead of the festive season, offering a full range of products, support and premium experience to consumers across…

Make in India: Centre enhances approval free limits for FDI in defence

New Delhi (IANS) To accelerate the inflow of investments, and employment generation, the Centre has enhanced the FDI limit for the defence sector by allowing up to 74 per cent capital via automatic route.

Government approval will be required…

Fin Min directs customs for strict scrutiny of imports to prevent FTA misuse

New Delhi (IANS) Government has directed customs formations across the country for strict scrutiny of all imports from free trade agreement (FTA) countries to prevent entry of goods at concessional duty misusing the country of origin rules.

The…

Paytm says money safe, back on Google Play Store shortly

New Delhi (IANS) Leading digital payments platform Paytm on Friday said they have temporarily removed the cashback component from the cricket league on its platform in an effort to meet the Google Play Store policy requirements.

The clarification…