Business

Industries located in the SIDCUL (State Infrastructure and Industrial Development Corporation of Uttarakhand Ltd) industrial area in Pantnagar in Udham Singh Nagar district will remain closed from June 25 to July 7 in order to understand what industrialists termed ”the complexities associated with the new GST regime.” “A comprehensive knowledge of the tax structure would help us price our products ...

Credit card providers, banks and insurers have started alerting their customers to pay higher tax post implementation of Goods and Services Tax (GST) from July 1. Customers currently pay 15 per cent service tax for such services. Starting from July 1, 2017 the GST will replace all indirect taxes like service tax and VAT. Financial services and telecom have been ...

Reminiscent of India’s tryst with destiny at the mid-night of August 15, 1947, Parliament’s historic Central Hall will host a function on the intervening night of June 30-July 1 to ring in the nation’s biggest tax reform — GST. Announcing that the switchover to the Goods and Services Tax (GST) will kick in at the stroke of mid-night, Finance Minister ...

Amid a highly competitive telecom landscape after the entry of Jio, BSNL or Bharat Sanchar Nigam Limited has announced a new 3G mobile data offer priced at Rs. 444 for its prepaid users. Called ‘BSNL Chaukka – 444’, the promotional prepaid pack offers 4GB of data per day with a validity of 90 days. Reliance Jio’s free voice call offers ...

Telecom regulator TRAI today recommended that international roaming SIM card and global calling card providers should pay Rs 5,000 as compensation to consumers who face service failure during an overseas travel. The compensation of Rs 5,000 has been suggested by the Telecom Regulatory Authority of India (TRAI) both for pre-paid and post-paid subscribers. Pre-paid customers should additionally get full refund ...

Reserve Bank of India or RBI is issuing a new batch of Rs. 500 banknotes with the inset letter ‘A’, the central bank said today. In a notification, RBI said: “In continuation of issuing of Rs. 500 denomination banknotes in Mahatma Gandhi (new) series from time to time which are currently legal tender, a new batch of banknotes with inset ...

The Reserve Bank on Wednesday said nearly 83 per cent of the currency has been remonetised so far and denied there was any shortage of cash in the system. “According to our latest data, 82.67 per cent of the currency has been remonetised and in volume terms, it is 108 per cent,” RBI deputy governor B P Kanungo told reporters ...

The Reserve Bank today left lending rates unchanged citing risks to inflation due to spurt in farm loan waivers by states but raised lending capacity of banks to support economic growth. The government has been pressing for a cut in interest rates to increase private investment and had sought a meeting with the members of the Monetary Policy Committee, but ...

The Income Tax Department on Friday warned of a 100 per cent penalty against receiver of cash of Rs 2 lakh or above. “Cash transaction of Rs 2 lakh or more is prohibited with effect from April 1. Contravention of Section 269ST (of the Income Tax Act of 1961) will entail a levy of 100 per cent penalty on the ...

The Centre is examining all options, including disinvestment and privatisation of Air India, in order to turnaround the state-owned airline burdened by a mountain of debt, top aviation ministry officials said. A decision on the future course of actions for Air India is expected to be taken within three months. The ministry is working on a number of suggestions given ...