Free Press Journal
  • India’s growth to accelerate to 7.3% in FY19, says Fitch

    New Delhi: India’s economic growth will accelerate to 7.3 per cent in the current fiscal and 7.5 per cent in the next as money supply has recovered to its pre-demonetisation level and disruptions related to the rollout of GST have diminished. Fitch, which last month kept India’s sovereign rating unchanged for the 12th year in a row, said the country’s ratings “balance a strong medium-term growth outlook and favourable external balances against

  • GST on langar: SGPC writes to Centre again, gets no reply

    Amritsar: The Shiromani Gurudwara Parbandhak Committee (SGPC) has revealed that they again wrote to the Centre, demanding exemption of the Goods and Services Tax (GST) being levied on ‘langar’ (community meal) service at Gurudwaras across the country, but received no reply.

  • IMF expects India to grow at 7.4 per cent in Financial year 2019

    Washington/New Delhi: The Indian economy is expected to grow at 7.4 per cent in the current fiscal and accelerate further to 7.8 per cent as it recovers from the impact of demonetisation and GST roll out, IMF said today. Asia continues to be the main engine of the world’s economy, accounting for more than 60 per cent of global growth – three-quarters of which comes from China and India alone, as per

  • Cos get scrutiny notices for GST returns mismatch

    34 per cent of the businesses have paid Rs 8.16 lakh crore to the exchequer by filing GSTR-3B, whereas analysis of their GSTR-1 data show that their tax liability should have been Rs 8.50 lakh crore.

  • GST proves itself

    The Goods and Services Tax collections, according to official data, crossed the Rs one- lakh mark in April. Actually, the total receipts were Rs 1,03,458 crores. The Government has reason to smile. After the initial hiccups, major and minor snafus over a flawed design of the GST platform and an overburdened website, the GST was, after all, adapted by the taxpayers. The criticism that it was badly designed and hurriedly implemented without

  • GST revenue collected for April exceeds Rs 1 lakh crore

    New Delhi: The Centre on Tuesday stated that the revenue collected towards Goods and Services Tax (GST) for the month of April 2018, surpassed the Rs.1lakh crore mark. As per the Ministry of Finance, the total gross GST revenue collected in the month of April stood at Rs.1,03,458 crore, consisting of Central GST (CGST) worth Rs.18,652 crore, State GST (SGST) of Rs.25,704 crore, Integrated GST (IGST) of Rs. 50,548 crore (including 21,246

  • GST collections hit Rs 7.41L cr

    New Delhi : India collected Rs 7.41 lakh crore in taxes in the first year of the Goods and Services Tax (GST) with revenues for a good part of four months not being accounted for because of the mid-year rollout and an accounting lag.

  • Govt collectes Rs 7.41 lakh crore from GST in FY18

    New Delhi: The government mobilised Rs 7.41 lakh crore from the Goods and Services Tax (GST) during 2017-18, according to the finance ministry. The government rolled out the GST regime from July 1 last year.

  • mumbai, mumbai central station, woman attempts suicide, suicide, suicide attempt, GST, Demonetisation

    Woman attempts suicide at Mumbai Central station, blames Demonetisation and GST

    Mumbai: Even as the union government claims that the problems caused by demonetisation and Goods and Services Tax (GST) have been fully resolved, the impact of these two financial decisions still continues to horrify citizens. One such instance was witnessed at Mumbai Central railway station on Monday when a woman attempted to commit suicide there while blaming demonetisation and GST. The lady was, however, saved by a Government Railway Police (GRP) officer.

  • India’s reforms bearing fruits, make case for more steps says IMF official David Lipton

    Washington: The reforms carried out by India has been bearing fruits and benefiting people, making a strong case for more steps, a top IMF official has said. The implementation of the goods and services tax (GST), despite a bumpy road, is going to help secure the solidity of foundation of public finances, David Lipton, the International Monetary Fund (IMF)’s First Deputy Managing Director David Lipton, told PTI.

  • Indore: GST return form to become simpler

    Indore: The GST return form will be made simpler as it will be of single-page. This will be a major relief to tax payers in the new tax regime. According to tax consultants, GST Council has proposed a single-page return form after consulting tax experts and industry leaders with the objective of simplifying the process for filing returns.

  • Government considering bringing reimbursement earnings in private sector under GST

    New Delhi: Trust this government to eye even the reimbursement earnings in the private sector. This large lucrative pie may come within the taxation net with the government considering bringing “indirect earning” under the Goods and Services Tax (GST). The relevant amendment in the GST rules may be discussed and approved in the next meeting of the GST Council, reports The logic until now was simple: the reimbursements are not taxed

  • Embassy to invest $1 bn in warehousing space

    Mumbai : Betting big on the growing demand for warehousing, Embassy Industrial Parks plans to invest around $1 billion in 3-4 years to take its total space 30 million sq ft, a senior company official said.