13 Apr 2023 06:09 PM
New

Be ready to pay more GST while booking autos! Delhi HC upholds Centre's notification

Source: https://www.livemint.com/news/india/be-ready-to-pay-more-gst-while-booking-autos-delhi-hc-upholds-centre-s-notification-11681378960027.html

Uber India Systems Private Limited argued in its submissions that the imposition of GST on autorickshaw rides booked through their platform could lead to financial implications

11 Apr 2023 07:16 PM
New

Covovax to be added to CoWIN portal as heterologous booster. Prices and other details here

Source: https://www.livemint.com/news/india/covovax-to-be-added-to-cowin-portal-as-heterologous-booster-prices-and-other-details-here-11681126374770.html

Covovax is expected to be available on the CoWIN portal in the coming days at a price of ₹225 per dose plus applicable GST.

11 Apr 2023 07:20 PM
New

Sugar prices to surge as supplies dwindle

Source: https://www.livemint.com/industry/manufacturing/sugar-prices-set-to-hit-new-highs-as-production-estimates-cut-and-supply-tightens-potentially-stoking-inflation-and-forcing-rbi-to-keep-interest-rates-high-11681152391433.html

Mill prices of sugar, which have been rising for the past three weeks, are expected to hit new highs in the next few months due to the limited availability of the sweetener in the domestic market.

11 Apr 2023 07:23 PM

Covid jab Covovax to be available on CoWIN soon; to cost ₹225 per dose

Source: https://www.livemint.com/news/india/covid-jab-covovax-to-be-available-on-cowin-soon-to-cost-rs-225-per-dose-11681179936394.html

According to official sources, Union Health Minister Mansukh Mandaviya has reportedly approved the inclusion of Serum Institute's Covovax on the CoWIN portal as a heterologous booster dose for adults, in light of the increasing cases of COVID-19 in various parts of the country, PTI reported.

11 Apr 2023 07:26 PM

DGGI takes action against Mauritius-based entities for online gambling, betting

Source: https://www.livemint.com/news/india/dggi-takes-action-against-mauritius-based-entities-for-online-gambling-betting-11681199473279.html

The companies based in Cyprus, Mauritius, and Cayman Islands, which are not registered in India, are suspected of assisting numerous high-net-worth individuals.

07 Apr 2023 05:24 PM

Re-globalization with risk control should also mean a growth relook

Source: https://www.livemint.com/opinion/columns/monetary-policy-banking-regulation-and-the-need-for-a-universal-reverse-charge-mechanism-examining-india-s-growth-drivers-and-unmet-needs-11680797391806.html

The unanimous decision of the Monetary Policy Committee (MPC) on 6 April to pause the repo rate at 6.5%, along with the renewed emphasis on banking regulation and supervision, is entirely in accordance with the need of the hour. There is no guarantee that the policy rate will rest at this level. But the pause commendably reflected attentiveness to the impact of policy rate hikes on banks—in particular, the inability of (some if not all) banks to pass on the substantial hike over the past year. And the renewed regulatory focus is clearly a response to the financial turbulence perpetrated by the lack of coherence between monetary tightening in the US and banking regulation (in what is admittedly a more diffuse regulatory structure there).

07 Apr 2023 05:28 PM

E-way bills hit record 90.9 mn in March on surge in biz activity

Source: https://www.livemint.com/economy/eway-bills-hit-record-90-9-mn-in-march-on-surge-in-biz-activity-11680802448499.html

NEW DELHI : Electronic permits raised by businesses for moving goods within and across states hit a record 90.9 million in March, indicating robust economic activity in the final month of the financial year, according to data available from GSTN, the company that processes GST returns.

07 Apr 2023 05:32 PM

Online gaming rules provide clarity, will bolster innovation and growth

Source: https://www.livemint.com/opinion/columns/new-it-rules-for-online-gaming-industry-provide-clarity-and-protection-for-consumers-curb-illegal-offshore-platforms-and-support-legitimate-domestic-gaming-growth-11680805731921.html

The amendments in the IT rules for the online gaming industry, which have been formulated and finalized after extensive public consultations by the Ministry of Electronics and Information Technology (MeitY) in a short period of time, is a significant positive development for the online gaming industry. The notification of these rules sends a strong signal from the central government to mainstream online gaming, in line with PM Narendra Modi’s vision of making India a global gaming innovation hub.

06 Apr 2023 05:28 PM

RBI Monetary Policy: No hike in repo rate, RBI keeps it steady at 6.5%

Source: https://www.livemint.com/news/india/no-hike-in-repo-rate-rbi-keeps-it-steady-at-65-11680742443324.html

The RBI monetary policy committee (MPC) announced the first bi-monthly policy for FY24 on April 6, concluding a three-day meeting. The MPC, led by RBI Governor Shaktikanta Das, met on April 3, 5 and 6 to review the current monetary policy.

05 Apr 2023 05:50 PM

Coaching sector misappropriates Rs. 14 crores GST collected from students

Source: https://taxguru.in/goods-and-service-tax/coaching-sector-misappropriates-rs-14-crores-gst-collected-students.html

Acting upon specific intelligence, the officers of Division – VIII, Mumbai East CGST Commissionerate have detected a new modus of tax evasion in the coaching sector. A private limited company M/s Rao Edusolutions Pvt. Ltd., operating under the brand name Rao IIT Academy, has been suspected of collecting GST at 18% on the tuition fees from its students, but declaring unrelated and exempt services in the returns filed with the department. The tuition fees thus collected is believed to have been misappropriated in favour of the company.