Relief for Competition Commission as GST Authorities Dismiss ₹7.08 Crore Service Tax Demand
The Competition Commission of India (CCI), the statutory body that regulates anti-competitive practices in the country, has received a favorable ruling from the GST authorities in a tax dispute case. The Central GST (CGST) commissioner audit has passed an order dropping a ₹7.08 crore service tax demand against the CCI, stating that the body does […]
Green channel: India’s answer to China’s e-commerce export success
India to create a green channel for E-commerce exports India is looking to create a green channel for e-commerce exports on the lines of China’s cross-border e-commerce-integrated pilot zones which offer streamlined customs procedures to promote faster movement of such shipments. The move is expected to aid sellers relying on online platforms, especially micro, small […]
Rs 18,541 crore: The recovery made from GST evasion cases till December 30, 2023
GST evasion of Rs 1.51 lakh crore detected in current fiscal The central GST officers have detected GST evasion of about Rs 1.51 lakh crore in the current fiscal year, while the recovery stands at Rs 18,541 crore as on December 30, 2023, against the internal target of Rs 50,000 crore. The finance ministry on […]
Dr. Mansukh Mandaviya Inaugurates ‘PRASADAM’: Pioneering Healthy & Hygienic Food Streets in India
A Pioneering Initiative Ujjain, a city already renowned for its spiritual significance, has added another feather to its cap with the inauguration of India’s first health food street, ‘Prasadam’. Union Health Minister Mansukh Mandaviya and Madhya Pradesh’s Chief Minister Mohan Yadav unveiled this innovative project in Ujjain, marking a significant step towards promoting healthy eating […]
Highway Construction Boost: Vision 2047’s Mega Plan on the Horizon
India is set to embark on a massive infrastructure development project that aims to build 50,000 km of high-speed access-controlled corridors by 2047. This ambitious plan is part of the government’s vision to transform India into a developed economy with a GDP of approximately USD 30 trillion by 2047 . The plan also includes the […]
Centre Stands to Gain ₹55,000 Crore in Dividends from Key CPSEs
The Centre is set to receive a windfall of dividends from its Central Public Sector Enterprises (CPSEs) in the current financial year, thanks to the strong performance of energy, power and commodity firms amid rising global prices. The dividend receipts from CPSEs are likely to be around ₹55,000 crore in FY23, which is 28% higher […]
amil Nadu Global Investor Meet 2024: Mukesh Ambani unveils RIL’s new investment plans
Mukesh D Ambani, the Chairman and Managing Director of Reliance Industries Limited (RIL), India’s largest private sector corporation and a Fortune 500 company, has announced that RIL will make new investments in Tamil Nadu in the fields of renewable energy and green hydrogen. He made this announcement at the Tamil Nadu Global Investor Meet 2024, […]
Petrochemical Duty Concessions: The Contention in India-Oman FTA Talks
India and Oman are in the final stages of negotiating a free trade agreement (FTA) that is expected to boost bilateral trade and investment. However, one of the key issues that may delay the conclusion of the deal is the demand for customs duty concessions on petrochemical products such as polypropylene and polyethylene, which are […]
CMFRI’s recommendations for sustainable fishing in the EEZ
The ICAR-Central Marine Fisheries Research Institute (CMFRI) has put forth a comprehensive set of recommendations to the central government for regulating fishing activities beyond the territorial waters of India. The recommendations are based on a detailed study of the socio-economic and ecological aspects of marine fisheries in the country. Background India has a vast marine […]
GST officers detect over 29,000 bogus firms involved in fake ITC caims of Rs 44,000 cr
Nationwide Operation Against GST Evasion In a significant nationwide operation, GST officers have identified 29,273 fake firms involved in illicit Input Tax Credit (ITC) claims, totalling a staggering Rs 44,015 crore over eight months until December 2023. This drive against fraudulent registrations has been instrumental in safeguarding government revenue, amounting to Rs 4,646 crore. Critical […]