News

ICAI sets up GST “sahayata” desks for traders

New Delhi: Chartered accountants’ apex body ICAI has set up desks to help small businessmen and traders on Goods and Services Tax (GST), which is set to be rolled out from July 1. ICAI GST Sahayata Desks have been made operational, without any charge, at all major cities to facilitate small…

GST: Agarbatti manufacturers seek relief on 12% levy

From agarbatti makers to publishers of children activity books and pickle makers, everyone is invoking interests of the common man and a possible adverse impact on employment to seek a waiver or reduction in the proposed GST rate. Some have gone a step further to argue that an increase in levy on…

Rating agencies in a fix over SMEs

Volatility in the government’s budget subsidy to incentivise credit ratings for micro and small enterprises over the past few years is harming these companies as rating agencies are in a fix on whether to invest more for this sector’s ratings. The government gives up to a Rs 40,000 subsidy for MS…

DIPP asks for additional $247.7 m in fund of funds for FY ’17-18

The Department of Industrial Policy and Promotion (DIPP) has reportedly asked the Finance Ministry to release an additional $247.7 Mn (INR 1,600 Cr) under the Fund of Funds for startups (FFS) in FY 17-18. The Fund of Funds was sanctioned for contribution to various Alternative Investment Funds (A…

‘GST will give a major boost to Make in India initiative’

The Central Excise Commissionerate Noida II in association with the Institute of Chartered Accountants of India on May 29 organized a workshop for tax payers for smooth switchover to the Goods and Services Tax (GST) regime, which will come into effect from July 1. The programme, joined by represe…

India will grow 7.2% in FY18, GST will deliver substantial gains: World Bank

New Delhi: The World Bank on May 29 said the government’s November decision to withdraw high-value currency notes may have a disproportionately high impact on the poor and vulnerable while its decision to implement the goods and services tax (GST) will be equitable without any negative impact on …

New action plan: Land banks for MSMEs may come up soon!

MSMEs will no more have to tackle the shortage of land, for the government is likely to very soon come up with Land Banks for small and medium industries in every state, for the affordable availability of land. An action plan is being prepared in this regard by the Ministry of Micro, Small and Me…

Cattle Trade Ban: Leather industry claims exports will decline by $3.5 b

The Centre’s ban on the sale and purchase of cattle from animal markets for slaughter would adversely affect the leather industry, leather exporters in Kolkata said and demanded that the decision be either revoked or amended. If nothing is done, the leather exporters threaten to take to the…