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Regulation

Cabinet Reshuffle 2017

Cabinet approves ordinance for amendments of insolvency and bankruptcy code

Earlier the finance ministry notified banks to prevent willful defaulters from participating in bidding any stress assets called for insolvency proceedings. Nov 22, 2017
Hasmukh Adhia

Pass on GST rate cut benefit to consumer or face action, Hasmukh Adhia tells companies

"I am not willing to accept their argument to postpone passing on the benefits to consumers till they have disposed of their old stocks," Adhia said. Nov 20, 2017
SEBI chairman Ajay Tyagi

SEBI to investigate possible insider information leaks on WhatsApp

An Investigation revealed that as many as 12 cases where messages about many Indian companies were circulated in private WhatsApp groups. Nov 17, 2017
GST

Cabinet approves formation of National Anti-profiteering Authority under GST

Not just NAA, the GST framework now comprises of a standing committee, screening committees in every state and the Directorate General of Safeguards in the Central Board of Excise & Customs . Nov 16, 2017
SEBI headquarters

Co-location case: I-T dept searches premises of top NSE officials

According to reports, former NSE MDs Ravi Narain and Chitra Ramkrishna, and Suprabhat Lala are on the search list. Nov 16, 2017
Raids

Shell companies: Govt probe found 1.3 lakh firms operating without PAN

The government is also probing 809 listed companies, whose records are not traceable by the capital market regulator — the Securities and Exchange Board of India. Nov 16, 2017
Arun Jaitley

No single GST rate but finance minister hints at further rate cuts

Jaitley said that, "In four months, we have rationalised the 28 percent slab. Such rationalisation in future depends on revenue buoyancy." Nov 14, 2017
rbi rule deposit of rs 5000 more than demonetisation modi govt currency ban

RBI not to pursue proposal to introduce Islamic banking in India

Islamic or Sharia banking is a system of finance in which interest is not charged. Nov 12, 2017
GST council

GST Council lowers rates on several items in 28% slab to 18%; revenue loss of Rs 20,000 crore expected

Items such as chocolate, chewing gum, aftershave, beauty products, powder, detergent and marble was lowered to 18 percent. Nov 10, 2017
Paradise Papers: Everything you need to know about the leak

Paradise Papers: Everything you need to know about the leak [VIDEO]

The data leak reveals hidden wealth of world's elite who have invested in offshore accounts. Nov 6, 2017
Aadhaar

UIDAI calls for payments regulator to prevent data theft, monitor digital payments

This development comes when the whole country is debating privacy and the asking serious questions to the government on the validaty of Aadhaar-linking. Nov 5, 2017
gst, gst council, gst rates, arun jaitley, july 1, modi govt

Govt likely to lower GST rate for small business, is this an election strategy?

The ministerial panel recommended a new tax rate under the composition scheme would be 1 percent for traders, manufacturers and restaurants, which previously stood at 1 percent, 2 percent and 5 percent, respectively. Oct 30, 2017
GST

GST network: 18 of 27 glitches fixed, Infosys to expand team to put GSTN on track

The IT company, in it its meeting with the GoM on October 25, told the group that it would step up its 100-member team to speed up the bug fixing exercise. Oct 29, 2017
gst, gst council, gst rates, gst for small traders, gst forms, gst tally, gst india inc, gst banks, gst arun jaitley

Government waives GST late fee for August and September, but you still may have to pay it!

The Central government on Tuesday waived the late fee for filing GST returns for August and September. Read to know why you still may have to pay the fee. Oct 24, 2017
Rupee

2 lakh shell firms may face criminal action for depositing unexplained money during demonetisation

If found guilty, the firm owners face imprisonment of three to 10 years for fraud. Moreover, a penalty can be levied on the fraudulent firm, which is equal to the value of the offence. Oct 23, 2017
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