With geo-political concerns, engineering firms nudge suppliers to ‘Make in India’

In a bid to find a long-term fix to unrelenting geo-political concerns, Indian engineering and capital goods firms are looking to ditch foreign suppliers and plan to collaborate with Indian entities instead. Executives from these companies termed it an attempt to secure supply chains and cut down the transit time. If it works, one need […]

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4.05 lakh businesses based in State closed since GST rollout

Ahmedabad: While the goods and services tax regime aimed at improving business ease and simplifying taxes, some 4.05 lakh businesses closed after the new regime was rolled out. According to data from the State Commercial Tax Department, 4.05 lakh GST identification numbers (GSTINs) have been cancelled so far, implying that these many businesses either shut […]

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Economists bat for capex push, fiscal prudence and more jobs at pre-Budget meet

Budget 2024 Expectations: Economists batted for continuing the capital spending push to spur growth, fiscal prudence and steps to boost jobs. The focus on the quality of spending, sans mindless freebies and steps to further curb inflationary pressure should continue, some of the economists told Finance Minister, Nirmala Sitharaman at the meeting, advising against reckless […]

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Focus on fiscal prudence, capex and jobs: Economists to FM

The fiscal deficit, which reached a record high of 9.2% of GDP in Covid-hit FY21, has been brought down to 5.6% in FY24 and is projected to be 5.1% in the FY25 interim Budget presented on February 1. The Budget for 2024-25 should focus on fiscal rectitude while providing for social welfare, capital expenditure, and […]

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Credit funds, family offices fill void left by banks at AIFs

The Private wealth funds and family offices are stepping in to fill the gap left by banks and non-banking finance companies (NBFCs) in investments into alternative investment funds (AIFs) following the Reserve Bank of India’s tightened norms for financial institutions investing in AIFs. Vivriti Asset Management, which had a 15% share of banks in its […]

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How to invest in India, the world’s fastest-growing major economy

India has been dubbed the “perfect” emerging market to invest in, but it can be tricky for those outside the country to gain access. CNBC Pro assesses the case for buying into this booming economy, the risks to consider and how global investors can get involved. India’s stock market has been making headlines this year […]

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India to remain fastest growing Asia-Pacific economy, predicts Moody’s

Moody’s Ratings on Thursday said India will remain the Asia-Pacific region’s fastest-growing economy in 2024, sustaining last year’s domestically driven momentum. In a report titled Credit Conditions Asia-Pacific H2 2024 Credit Outlook, Moody’s Ratings said Indonesia, the Philippines and India led the way in terms of growth in first half of 2024 and should continue […]

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Curb on unfair GST demand recovery proceedings: GST official needs prior approval from higher authority to act within 3 months of demand

If you receive a GST demand order, you have the option to either file an appeal against it or pay the demand amount. However, if GST officials believe that it is necessary to ask for payment before the stipulated time (three months) for the ‘interest of revenue’, they can do so. Unfortunately, this provision has […]

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Latest GST News, Information, Notifications & Announcements [Period 28/05/24 to 03/06/24]

GST WEEKLY UPDATE :09/2024-25 (02.06.2024) GSTN Introduces Option to Choose Personal Hearing in GST DRC-01 Responses: The GSTN has enabled a new feature allowing taxpayers to select ‘Yes’ or ‘No’ for a personal hearing while replying to GST DRC-01 on the GST Portal. Previously, the portal automatically selected the ‘No’ option for a personal hearing […]

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