- 01 Mar 2024 06:14 PM
- New
General Elections 2024: Investing before polls can be strategically advantageous, says Franklin Templeton
With India on the brink of a pivotal election and incumbent Prime Minister Narendra Modi vying for a historic third term, investment management company Franklin Templeton (FT) observed that investing before elections can be strategically advantageous.
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- 27 Feb 2024 05:34 PM
- New
Mint Explainer: Why auto industry is divided on tax breaks for hybrid vehicles
Top automakers are divided on the Indian government's tax policy on hybrid cars. While Maruti Suzuki and Toyota advocate for lower taxes for hybrids to encourage their adoption, Tata Motors, Mahindra, and Hyundai argue against any preferential tax treatment for these vehicles.
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- 26 Feb 2024 05:56 PM
- New
Mint Explainer: What does the latest survey of household consumption spending reveal?
A person living in rural India spent ₹3,773 a month on average as consumption expenditure in 2022-23 while her urban counterpart spent ₹6,459, the Ministry of Statistics and Programme Implementation’s (MOSPI’s) National Sample Survey Office (NSSO) estimated after a nationwide study of households’ spending patterns.
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- 22 Feb 2024 06:03 PM
‘What kind of Ram Rajya is this’? — Rahul Gandhi hits out at PM Modi in Kanpur, says 90% of population not getting jobs
Accusing discrimination against Dalits and other backward classes in Prime Minister Narendra Modi’s Ram Rajya, former Congress president and Wayanad MP Rahul Gandhi on Wednesday said the Centre has failed to generate enough employment opportunities for the downtrodden constituting "90 per cent of the population," in the country, news agency PTI reported.
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- 21 Feb 2024 05:37 PM
GST Council Newsletter for the month of January 2024
Source: https://taxguru.in/goods-and-service-tax/gst-council-newsletter-month-january-2024.html
GST Council Newsletter for the month of January 2024
The Finance Bill 2024 proposes substitution of Section 20 of the IGST Act to make registration as an Input Service Distributor (ISD) mandatory for the procurement of common input services and the distribution of associated Input Tax Credit (ITC) to distinct entities. Additionally, Clause (61) of Section 2 of the IGST Act, which defines ISD, is also amended accordingly. Previously, through CBIC Circular No. 199/11/2023-GST dated 17.07.2023, the Head Office (HO) had the flexibility to distribute ITC either through the ISD mechanism or cross charge. However, this amendment now mandates the distribution or allocation of central tax or integrated tax credit charged on invoices received by the ISD. The aim of this amendment is to streamline the process, ensuring consistency and adherence to specified guidelines in the distribution of credit for common input services.
- 16 Feb 2024 05:50 PM
Karnataka lost ₹59,000 crore due to unscientific GST implementation: CM Siddaramaiah slams Centre
During the 15th Budget presentation in the Karnataka assembly, Chief Minister Siddaramaiah criticised the Centre for what he deemed as the "unscientific implementation of GST," resulting in a staggering loss of ₹59,000 crore for the state. Karnataka Chief Minister
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- 15 Feb 2024 06:11 PM
Cap lease rate at 40% upon renewal: MROs
Source: https://www.livemint.com/news/india/cap-lease-rate-at-40-upon-renewal-mros-11707931037865.html
NEW DELHI : India’s aircraft maintenance, repair, and overhaul (MRO) units have sought a reduction in rental rates at which the government renews their land leases, Mint has learnt.
“The industry has sought intervention by the civil aviation ministry on lease rentals for the MRO industry. The norms state that a new allotment of Airports Authority of India (AAI) land is approved at 40% of prevailing land lease rates for MRO companies. However, the rates during the renewal of leases are elevated, crossing even 100% of prevailing rates," an industry executive told Mint, on the condition of anonymity.
- 15 Feb 2024 05:53 PM
Who profiteered the most from GST tweaks? CCI has clues
Real estate developers have topped the list of businesses facing consumer complaints for suspected goods and services tax (GST)-related profiteering, data from the Competition Commission of India (CCI) showed.
CCI decides on the merit of customer complaints based on an investigation by the Directorate General of Anti-Profiteering (DGAP), which comes under the Central Board of Indirect Taxes and Customs.
- 15 Feb 2024 06:07 PM
There's plenty that ails India’s index of industrial production
The index of industrial production (IIP) has in recent years been coming under increasing criticism for not being relevant for contemporary users. A recent op-ed in Mint (‘India’s IIP is losing its relevance as a lead indicator of economic growth’)(bit.ly/42D5YvE) is a good example. These criticisms are valid, and to better understand the disaffection, it is useful to review the manner in which the series is constructed.
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- 14 Feb 2024 06:17 PM
New avatar likely for GST compensation cess
The goods and services tax (GST) compensation cess expiring in March 2026 or before may be replaced with a new levy, if the GST Council feels more revenue is needed, two officials aware of discussions between the Centre and states said.
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