Companies rush to reconcile financial results with state wise audit, seek extension of deadline
Mumbai: As the date for Goods and Services Tax (GST) audit nears, many companies and banks fear they will not be able to comply with...
MSME sector: RBI takes measures to increase credit flows; most PCA banks met mandatory priority lend
Amid a raging debate on the need for easing rules governing credit to MSMEs, an analysis of RBI data on such loans shows that a large...
Goods can be impounded for lapses under GST, says Kerala High Court
Authorities impounded a car being sent by a dealer from Puducherry to Thiruvananthapuram for personal use of his customer without an...
Demonetisation: 80,000 being chased by I-T for large cash deposits
The income-tax department (I-T) is ‘chasing’ 80,000 persons who had deposited cash during demonetisation period which didn’t match their...
Direct tax collections to exceed target this fiscal: CBDT chief Sushil Chandra
Direct tax collection has already crossed Rs 5 lakh crore and will exceed the budgeted target of Rs 11.5 crore set for the current...
Finance ministry rubbishes charge of stuck GST claims worth Rs 23,000 crore
NEW DELHI: The finance ministry on Friday dismissed as “exaggerated” and “inaccurate” exporters’ contention that about Rs 23,000 crore of...
Direct investment in mutual funds is not as cheap as you think
Mumbai: Asset management companies (AMCs) raised fees for those who invested in direct mutual fund plans as they sought to offset revenue...
Pending VAT comes to haunt companies claiming input tax credit
NEW DELHI: State tax authorities have begun blocking input tax credit claims of companies that have any value-added tax (VAT) demand in...
Haryana tax dept issues circular, asks officers to block input GST credit
The indirect tax department in Haryana has issued a circular, asking field officers to block input tax credit on certain conditions...
US curbs looming, India reduces Iran oil imports by 30%
NEW DELHI: With an over 30% reduction in imports of oil from Iran in the past few months, India is hoping to be eligible for a waiver on...
