Business

The government has not asked the Reserve Bank to pay any special dividend and is only seeking Rs 13,000 crore of surplus lying with the central bank, Economic Affairs Secretary Subhash Chandra Garg has said. In August, the RBI had paid a dividend of Rs 30,659 crore for the fiscal ended June 2017. It was less than half the Rs ...

Moody’s Investors Service (“Moody’s”) has upgraded the Government of India’s local and foreign currency issuer ratings to Baa2 from Baa3 and changed the outlook on the rating to stable from positive. India’s rating has been upgraded after a period of 13 years. India’s sovereign credit rating was last upgraded in January 2004 to Baa3 (from Ba1). Government of India welcomes ...

Debt-laden Air India has received a loan worth of Rs 1,500 crore from Bank of India to meet urgent working capital needs less than a month after floating a tender in this regard, an airline source said. For the second time in recent months, the flagship carrier has received loans from a public sector lender. Battling multiple headwinds, the disinvestment-bound ...

The GST Council, in its 23rd meeting held at Guwahati on 10th November 2017, has recommended the followingfacilitative measuresfortaxpayers: Return Filing a) The return filing process is to be further simplified in the following manner: All taxpayers would file return in FORM GSTR-3B along with payment of tax by 20th of the succeeding month till March, 2018. For filing of ...

A Delhi court today initiated the process to declare beleaguered businessman Vijay Mallya as a proclaimed offender for allegedly evading summons in a FERA violation case. It has now given him the last opportunity to appear before the court by December 18. Chief Metropolitan Magistrate Deepak Shehrawat directed the Enforcement Directorate (ED) to take appropriate steps while initiating the process. ...

Stocks were firmly in the saddle today as both indices Sensex and Nifty jumped to new peaks after the announcement of a new US Federal Reserve chief. Investors also took keen interest in the unveiling of tax reforms by House Republicans in Washington. The 30-share index rose by 119.36 points, or 0.35 per cent, to hit a new peak of ...

The World Bank, has released the Doing Business (DB) Report, 2018. The Department of Industrial Policy and Promotion (DIPP) is pleased to announce that India ranks 100 among 190 countries assessed by the Doing Business Team. India has leapt 30 ranks over its rank of 130 in the Doing Business Report 2017. The DB Report is an assessment of 190 ...

The government on Monday once again extended the deadline for filing the goods and services tax (GST) returns for purchases and input-output transactions for July. The last date for filing purchase return, or GSTR-2, was extended to November 30, from October 31. That of input-output transactions, or GSTR-3, was put off to December 11, from November 10. “To facilitate trade, ...

Nearly a year after Prime Minister Narendra Modi announced demonetisation, the Rs 500 and Rs 1,000 bills returned to banks are still being “processed in all earnest” through a sophisticated currency verification system, the RBI has said. In reply to an RTI query, the central bank said it has processed about 1,134 crore pieces of Rs 500 notes and 524.90 ...

Waiver of late fee on filing of GSTR-3B for August and September, 2017 GST Revenue Figures – As on 23rd October, 2017 The total revenue of GST paid under different heads (upto 23rd October, 2017) for the month of September 2017 is Rs. 92,150/- crore. The total CGST revenue is Rs. 14,042 crore, SGST revenue is Rs. 21,172 crore, IGST ...