The Customs, Central Excise and Service Tax Commissionerate has constituted a state-level ‘anti-profiteering screening committee’ in Madhya Pradesh and Chhattisgarh to ensure that the benefits of GST reduction are passed on to the consumers
The GST Network has rolled out an offline, Excel-based utility to make the process of filing returns simpler.
Taxpayers can download the offline utility from the GSTN portal under the download section, according to a GST statement. After filling in the data, they need to upload the GSTR 3B form on the GST portal. They will have to then preview the form, complete formalities like submit, offset the liability and file the GSTR-3B Return using digital signature or an electronic verification code.
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The world’s third-biggest oil importer shipped in 4.2 percent more oil last month than a year earlier and about 19 percent more than in the previous month, ship-tracking data from industry sources and Thomson Reuters Analytics showed.“There was heavy maintenance at some refineries in July-August. All those refineries have come online, so naturally refiners will have to boost purchases to meet local demand.” FGE.Maintenance turnaround at some refineries led to Indian Oil Corp deferring the shutdown of its 300,000 bpd coastal Paradip refinery to April-March. During the first nine months of the year India’s oil imports rose 1.8 percent to about 4.4 million bpd, with most supplies coming from the Middle East, followed by Africa and Latin America.
Driven by commercial papers, the record low credit growth, it seems, has turned around finally, as outstanding credit in the system till the end of September clipped at 14.6 per cent to Rs 80.09 trillion, against 13.6 per cent a year ago, according to Reserve Bank and Sebi data.
At a paltry 5.08 per cent, fiscal 2017 was the worst year in over six decades for bank credit-lowest since fiscal 1953 when it grew at a much lower 1.8 per cent
India has put in place a stricter regime for trade with North Korea in line with the restrictions imposed by the United Nations. The Directorate General of Foreign Trade (DGFT) has come out with a notification to widen the prohibition on direct or indirect import and export from/to North Korea.”The direct or on direct or indirect supply, sale, transfer or export of specified items to North Korea is prohibited,” it said. The items include condensates and natural gas liquids, refined petroleum products and crude oil.
Private equity firm Milestone Capital Advisors is looking to raise up to Rs 1,000 crore through a logistics fund to invest in warehousing and industrial assets. The fund will target developing around 6 million sq ft of integrated logistics parks across the Mumbai Metropolitan Region, Pune, Delhi-NCR, Chennai, Kolkata, Bangalore, Hyderabad and Ahmedabad.
The Hero Group is close to acquiring almost the entire wind energy portfolio of the LNJ Bhilwara Group, helping the buyer emerge as one of the biggest players in the rapidly growing sector that has seen large M&A deals in recent months.
The acquisition, on the verge of being finalised, follows several deals since last year in the sector, involving the Tatas, Sun Edison, CLP Holdings and other companies.
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Realty developer Mahindra Lifespace Developers has partnered HDFC Capital Advisors-managed HDFC Capital Affordable Real Estate Fund-1 to form a platform focused on the development of affordable housing projects in India.
The platform will have total investment commitment of Rs 500 crore over 3 years.
Reliance Jio Infocomm’s decision to raise effective prices of most 4G tariff plans by 15-20% from October 19 will allow incumbents Bharti Airtel, Vodafone India and Idea Cellular to consider price hikes after several quarters of chasing the newcomer’s disruptive rates, analysts say.
Maruti Suzuki India today said the all-new version of its compact sedan Dzire has crossed one lakh unit sales milestone in just five and half months of launch. The third generation Dzire was launched in May 2017 and has become the fastest to clock one lakh unit sales mark, Maruti Suzuki India (MSI) said in a statement. The new Dzire takes the brand to a whole new level an authentic sedan designed for the young, aspirational and indulgence seeking Indian customer.
Hardeep Singh Brar is set to return to Volkswagen India as head of sales, filling a critical post that had been lying vacant for several months. People aware of the development said Brar, who was head of sales at General Motors India, had his contract running till March 31 next year but also had the option of exiting by September 30. He will take up his new role after Diwali, they said.
Textile major Arvind Limited today signed an MoU with the Gujarat government to set up a mega apparel park with an investment of Rs 300-crore in Dahegam in Ahmedabad district. The MoU has been signed days after the state government announced its garments and apparel policy, 2017, the company said in a release here. The “mega apparel facility” will be a “first-of-its-kind” which will employ more than 10,000 people, it said.
Regulator Sebi has banned Grass Root Finance & Investment Company (India) Ltd and 13 others from the capital markets for raising funds without complying with the public issue norms. A probe by Sebi found that the company had issued equity shares to 9,321 people between 1995-96 and 2006-07 and raised Rs 6.80 crore through such issuance.
Hong Kong’s last remaining stock market floor traders are taking their final orders as the exchange prepares to shut its trading hall, joining other world exchanges in going fully automated. The bourse’s operator, Hong Kong Exchanges & Clearing, says it will close the trading hall by the end of the month and turn the space into a showcase for the city’s financial markets.
Telecom operator Bharti Airtel and Millicom International Cellular today announced completion of a deal to combine their operations in Ghana. The deal, executed through their respective subsidiaries, will create Ghana’s second largest mobile operator with nearly 10 million subscribers and USD 300 million in revenue.
The Spanish government will impose direct rule on Catalonia, firing the regional government and forcing a new election, it said on Saturday, unprecedented steps that brought thousands of pro-independence protesters onto to the streets.
The chief U.S. diplomat flew into King Salman Air Base a little more than a week after U.S. President Donald Trump unveiled a strategy to contain Iran and compel Tehran to agree to close what he charged are flaws in the multinational 2015 deal designed to prevent Iran developing nuclear weapons.
Babis’s ANO movement held an unbeatable 30.04 percent of the vote with 94.4 percent of voting stations having reported — almost three times any other party and giving it a chance to rule with just one partner in a coalition.
“Measures to fight pollution don’t have a big impact on economic growth,” Zhang Yong, vice-chairman of the National Development and Reform Commission, told reporters during a briefing. As many as 28 cities in northern China have vowed to slash industrial output this winter in a bid to cut smog by at least 15 percent and meet politically important air quality targets for this year.
Trump leaves Nov. 3 on a trip that will take him to Japan, South Korea, China, Vietnam and the Philippines. It will be his first tour of Asia since taking power in January and one with a major priority: Preventing the standoff with North Korea from spiraling out of control.
Authorities in eastern Libya will circulate their own coins for the first time to ease shortages of money. The new coins, made in Russia, will join Russian-made paper currency that has already been issued in the eastern half of the country. Libya, once one of the richest countries in Africa, has faced a sharp decline in living standards since a 2011 NATO-backed uprising toppled dictator Muammar Gaddafi.
President Donald Trump is considering nominating Federal Reserve Governor Jerome Powell and Stanford University economist John Taylor for the central bank’s top two jobs, in an apparent bid to reassure markets and appease conservatives hungry for change. Under that scenario, either Powell or Taylor would take the reins from Fed Chair Janet Yellen when her term expires in early February, and the other would fill the vice chair position left vacant when Stanley Fischer retired this month.