Free Press Journal
  • ONGC pushes back KG gas output target

    The revised dates were set when ONGC spudded the first of the 34 wells under the project on April 8 this year.

  • Reliance Jio customer’s base doubled to 215 million in one year: Mukesh Ambani at AGM

    New Delhi: Reliance Industries Chairman Mukesh Ambani on Thursday said that Reliance is India’s largest payer of Goods and Services Tax (GST), Excise and Customs Duty, and Income Tax in the private sector. Speaking at the Reliance Industries’ 41st Annual General Meeting, Mukesh Ambani highlighted that Jio’s subscribers grew from 124 million at the end of last year to 210 million at the end of FY18. “Jio and retail’s share in overall

  • maharashtra, maharashtra traders, apmc, professional tax, GST, APMC market, Vashi

    Success of GST in one year

    Long years ago when the Value Added Tax was first introduced, the traders were up in arms, protesting that it would have a disruptive impact all around. Yet, after the initial glitches, VAT was successfully implemented, everyone got used to it. Ahead of the implementation of the Goods and Services Tax on July 1 last year, there were similar voices, warning that its introduction would prove a disaster, that the country was

  • Jewellers expect government to fix few issues as GST completes 1 year

    Mumbai: The gems and jewellery industry is expecting the government to sort out few issues, including 3 per cent GST on gold import for export purpose, to give a boost to the industry as the new tax regime completes one year of rollout.

  • Nothing to panic on the economy

    For the first four years of his term, the rupee was stable, global oil prices moderate, foreign funds  poured into debt and equity markets and investment projects, and inflation was more or less under control while the twin deficits were cause of not much concern. No longer, though. Now that Modi is in the penultimate year of his five-year term, and a tough parliamentary election lies ahead next year, things on the

  • maharashtra, maharashtra traders, apmc, professional tax, GST, APMC market, Vashi

    One year of GST! If petrol and diesel brought under GST regime, what will be the effect on nation? See what experts have to say

    Good and Services Tax (GST) will complete one year on July 1, 2018 and reports suggests that government is planning a mega event to mark the first anniversary of Good and Services Tax (GST). However, the debate is still on to find out how beneficial the tax regime has been. GST was rolled in for equal tax in entire country, and it is called as one nation, one tax.

  • One Year of GST

    One year of GST! Did you know? GST also stands for these 10 things

    July 1, 2018 marks one year of the Goods & Services Tax (GST). While the debate over how beneficial the tax regime has been to the country remains debatable, one cannot deny the fact that GST has had a significant impact on the economy as a whole. The pros and cons will be kept discussing in the times to come.

  • IMF suggests India three steps to sustain high growth rate

    Washington: To sustain the high growth rate India has achieved, the country should carry out banking sector reforms; continue with fiscal consolidation, simplify and streamline GST; and renew impetus on reforms, the International Monetary Fund (IMF) said today.

  • Cabinet approves hike in ex-mill ethanol prices

    New Delhi: The Cabinet Committee on Economic Affairs (CCEA) on Wednesday has approved to increase the ex-mill price of ethanol used in Public Sector Oil Marketing Companies (OMCs) to Rs 43.70 per litre. The ethanol derived out of C Heavy molasses now cost Rs, 40.85 per litre.

  • maharashtra, maharashtra traders, apmc, professional tax, GST, APMC market, Vashi

    Rs 2,000 crore GST evasion unearthed in 2 months

    New Delhi: The GST investigation wing has detected tax evasion of over Rs 2,000 crore in two months, and data analysis reveals that only 1 per cent of over 1.11 crore registered businesses pay 80 per cent of the taxes, a senior official said today. CBIC member John Joseph said alike small businesses who are making mistakes while filing GST returns, multinationals and big corporates too have slip-ups.

  • Indore: GST refund worth Rs 96.45 cr made to 3129 taxpayers in 18 days

    Indore: Addressing the major demand of traders and exporters to release their GST refund, the state goods and service tax (SGST) department cleared refund claims worth Rs 96.46 crore. The department had launched special 15-day drive to redress grievance of businessmen. Though the special drive concluded on Monday, the refund drive will continue.

  • GST leads to formalisation of economy, widening of tax base: Finance Ministry

    New Delhi: The Finance Ministry today said it would be increasingly difficult for businesses to remain outside the tax net as GST is leading to formalisation of the economy. The Goods and Services Tax (GST) was introduced from July 1 last year to subsume plethora of indirect taxes like excise and sales tax.

  • suresh prabhu, mumbai, manufacture aircraft, US, Aviation Minsiter,

    Trade gap widens to 4-month high despite higher exports

    New Delhi : India’s exports grew 20.18 per cent to $28.86 billion in May — the highest in six months, even though the trade deficit widened to a four month high of $14.62 billion.