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10 January, 2019 10:06 AM Government Doubles Tax Exemption Limit For Small Businesses: Arun Jaitley

Currently, firms with an annual turnover of up to Rs 20 lakh are exempted from registration under a unified national GST launched in 2017. The government will exempt small businesses with annual sales of up to Rs 40 lakh ($56,701) from paying taxes under goods and service tax, finance minister Arun Jaitley said on Thursday, a move aimed at wooing a key voting 84

9 January, 2019 9:40 AM Centre releases Rs 48,202 cr GST compensation in Apr-Nov, higher than FY18

New Delhi: The central government has released Rs 48,202 crore as GST compensation to states during April-November 2018, higher than the Rs 48,178 crore paid in the previous financial year. Minister of State for Finance Shiv Pratap Shukla said Section 7 of the GST (Compensation to States) Act, 2017, states that compensation payable to a state for loss of revenue 95

3 January, 2019 11:26 AM Xiaomi Mi TV 4 65-Inch Model May Launch in India Soon, Company Teases

Xiaomi could be launching the Mi TV 4 65-inch variant soon in India, according to a new tweet by the company's India chief Manu Kumar Jain. The tweet mentions ‘The Bigger Picture' coming from Mi TV India, suggesting that it could be a larger screen variant than any of the options currently on offer from Xiaomi. For now, the largest screen size available 201

3 January, 2019 10:45 AM Finance Ministry allows businesses to claim GST input credit benefit for FY'18 till Mar 2019

The Finance Ministry has allowed businesses to claim input tax credit benefit for the first financial year of Goods and Services Tax roll out, till March 2019, provided it matches with the return filed by their suppliers. The deadline for claiming input tax credit (ITC) ended on October 25, 2018. Tax experts said that ITC claims were allowed to businesses 75

2 January, 2019 12:43 PM GST collections drop to Rs 94,726 crore in December

Revenue collection from Goods and Services Tax (GST) fell to Rs 94,726 crore in December from Rs 97,637 crore a month ago, as per data released by the Finance Ministry on January 1. Out of the total collection, Central GST (CGST) was Rs 16,442 crore, with states garnering Rs 22,459 crore State GST (SGST). At least Rs 7,888 crore was received as cess, with Rs 47,936 crore 73

2 January, 2019 12:04 PM Extend loan restructuring scheme to MSMEs not yet registered under GST

The RBI on January 1 allowed a one-time restructuring of the existing debt of up to Rs 25 crore for the companies that have defaulted on payments but their loans have continued to be classified as standard assets. The MSME sector on January 2 demanded the RBI's loan restructuring scheme be also extended to the companies not yet registered under the goods 94

1 January, 2019 4:06 PM Govt waives late fee for non-filers of GST returns between July '17-Sept '18

However, these businesses would have to file their returns for the 15-month period by March 31, 2019, the Central Board of Indirect Taxes and Customs said. The government has waived late fees for non-filers of summary and final sales returns for the July 2017-September 2018 period by businesses registered under the goods and services tax (GST) 101

1 January, 2019 3:06 PM Narendra Modi's interview bereft of reality, full of rhetoric: Congress

"Summary of Modiji's ‘monologue' interview -- ‘I', ‘Me', ‘Mine', ‘Myself'. The country is suffering your ‘I's and ‘lies'," Randeep Surjewala tweeted. The Congress attacked Prime Minister Narendra Modi saying his interview was full of rhetoric and there was no mention of ground realities or any concern for promises made by him to the people 132

1 January, 2019 12:21 PM Xiaomi cuts prices of host of Mi LED Tvs in India

New Delhi: Chinese electronics major Xiaomi on Tuesday cut prices of host of Mi LED Tvs in India that includes Mi LED smart Tv 4A 32, Mi LED Tv 4C Pro 32, Mi LED Tv 4A Pro 49. Xiaomi's Mi TV 4A 32, earlier priced at Rs 3,999, will now be available at Rs 12,499. The price of Mi TV 4A 32 which was earlier priced at Rs 15,999 has been brought down to Rs 14,499 while 203

29 December, 2018 1:19 PM Instant Money Transfer: Charges Levied By Banks For Immediate Payment Service (IMPS)

Immediate Payment Service (IMPS), an instant interbank electronic fund transfer facility, allows the customer to transfer funds on a 24x7 basis and 365 days of the year. The maximum amount that can be transferred via IMPS is Rs 2 lakh. This facility is available only via internet banking. Most banks in the country offer the facility of IMPS for making 76