[ad_1] Workers demand unpaid wages in Rieti, Italy, in April 2022.SynopsisEurope is staring at a lost decade. While the Russia-Ukraine war has resulted in higher food and fuel prices, the delay in labour-market reforms is hampering job creation. Consequently, the euro area has witnessed a...
[ad_1] Workers work on a speaker production line at Luyang Electronics Co., LTD in Linquan County, Fuyang city, East China's Anhui province, June 30, 2022. SynopsisCovid policy disruptions have added to China’s pressures from rising labour costs and worsening Sino-U.S. trade tensions. With low labour...
[ad_1] The exclusion of healthcare from the goods and services tax regime is leading to stranded input tax credit (ITC) according to the Federation of Indian Chambers of Commerce and Industry. In a letter to Finance Minister, Nirmala Sitharaman, the industry body has batted for...
[ad_1] Mumbai: The rupee depreciated 9 paise to 79.03 against the US dollar in opening trade on Monday, as persistent foreign funds outflows weighed on investor sentiments. Forex traders said the weakness of crude oil prices is supporting the local unit. However, inflation and growth...
[ad_1] Hasmukh Adhia, former Union finance secretary, argues that extending compensation to states will mean increased laxity in state tax bureaucracies. Here are edited excerpts of an interview to Shantanu Nandan Sharma:Do you believe that the Goods and Services Tax (GST) was hurriedly implemented?For a...
[ad_1] The 47th GST Council meeting was held on 28 and 29 June 2022, almost coinciding with the fifth anniversary of GST. The discussions of the GST Council focused on GST rate rationalization, fixation of GST rate on online gaming, and on IT reforms. Key...
[ad_1] The process of digitisation picked-up momentum in 2015 with the launch of ‘Digital India’ - A flagship program by Prime Minister Narendra Modi with a vision to transform the country into a digitally empowered society and a knowledge economy. Since then, India has witnessed...
[ad_1] The Goods and Services Tax (GST) revenue for the month of June surged by 56% on an annual basis to nearly Rs 1.45 lakh crore as against Rs 1.4 lakh crore in May, revealed finance minister Nirmala Sitharaman on Friday. "Our monthly GST collections...
[ad_1] The noble intention of GST legislation was to replace multiple indirect taxes into single uniform tax law across the nation so as to relieve tax payers from hassles of multiple taxation, high tax incidence, ambiguous tax laws, unfair tax administration, prolonged litigations, huge compliance...
[ad_1] The milestone of five years of GST is significant in many ways. For the governments, it is important from the revenue perspective, for instance, even as the assured protection to states for any revenue loss after GST implementation comes to an end. It is...