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service tax

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Covid-19 to ‘significantly’ impact state finances: RBI

As most states presented their budgets before the onset of the pandemic, their budget estimates of deficits are unlikely to capture the true picture of the ongoing fiscal year, the report says.
Higher tax buoyancy implies that tax collection would rise at a faster pace for the same rise in incomes.(REUTERS)
Higher tax buoyancy implies that tax collection would rise at a faster pace for the same rise in incomes.(REUTERS)
Updated on Oct 28, 2020 02:13 AM IST
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Hindustan Times, New Delhi | ByRoshan Kishore, New Delhi

LTC bonanza for those who plan to spend big

Under Section 10 (5) of the Income Tax Act, generally, both government and private sector employees are allowed to claim tax exemption on the money spent against travel fare for themselves and family members twice in a block of four years on showing proof of travel fare.
Union Finance Minister Nirmala Sitharaman addresses the media during a press conference at National Media Centre in New Delhi.(Ajay Aggarwal /HT PHOTO)
Union Finance Minister Nirmala Sitharaman addresses the media during a press conference at National Media Centre in New Delhi.(Ajay Aggarwal /HT PHOTO)
Published on Oct 13, 2020 05:31 AM IST
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Livemint, New Delhi/ Mumbai | ByRenu Yadav and Neil Borate

Running toy business in Punjab’s Dhanaula no child’s play after Covid-19

Demand is down as people don’t venture out for shopping in a market already hit by the invasion of imported products
A shopkeeper shows a young customer and his parents a wooden tralla or truck.(HT photo)
A shopkeeper shows a young customer and his parents a wooden tralla or truck.(HT photo)
Published on Aug 31, 2020 05:21 PM IST
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Hindustan Times, Dhanaula (Barnala) | ByAvtar Singh, Dhanaula (barnala)

Brand Factory outlet fined 6.72 lakh in 21 cases of unfair trade

The store will pay 7,000 to the complainant and 25,000 to the legal-aid fund of the consumer disputes redressal commission in each case
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HT Image
Updated on Aug 30, 2020 11:21 PM IST
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Hindustan Times, Mohali | ByHillary Victor, Mohali

Growth will recover to up to 8% next fiscal, says KM Birla

Kumar Mangalam Birla said that most economies are likely to shrink this year. The nationwide lockdown had a more severe impact in urban India and on services that thrive on people’s mobility.
Kumar Mangalam Birla said that most economies are likely to shrink this year.(HT Photo)
Kumar Mangalam Birla said that most economies are likely to shrink this year.(HT Photo)
Updated on Aug 13, 2020 06:06 AM IST
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Hindustan Times, Mumbai | ByTanya Thomas

Digital taxation needs to be simple and inclusive, says Nirmala Sitharaman

The minister was speaking at the 3rd G20 Finance Ministers and Central Bank Governors (FMCBG) meeting held at Riyadh (Saudi Arabia) through video conferencing.
India is among 10 nations that are facing US investigations to assess whether the levies discriminate against American technology majors.(PTI)
India is among 10 nations that are facing US investigations to assess whether the levies discriminate against American technology majors.(PTI)
Updated on Jul 18, 2020 10:50 PM IST
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New Delhi | ByPress Trust of India| Posted by Susmita Pakrasi

Covid-19 austerity measures: Chandigarh admn slashes expenditure by 20%

Cuts to impact municipal corporation, engineering department asked to focus only on ongoing development works, freeze on new hiring
The revenue generation from goods and service tax (GST), excise and VAT plummeted by 71% for April and May in comparison to the same period last year, a senior Chandigarh administration official has said.(Mint)
The revenue generation from goods and service tax (GST), excise and VAT plummeted by 71% for April and May in comparison to the same period last year, a senior Chandigarh administration official has said.(Mint)
Updated on Jul 11, 2020 02:02 AM IST
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Hindustan Times, Chandigarh | ByMunieshwer A Sagar, Chandigarh

PMI, GST data indicate economic recovery

Although manufacturing activity shrank for a third straight month in June, it was at a much slower pace than the previous two months, data released by IHS Markit showed.
Separately, data released by the finance ministry showed that gross GST receipts for June was just 9% below the roughly ₹1 lakh crore collected in the same month a year ago.(PTI)
Separately, data released by the finance ministry showed that gross GST receipts for June was just 9% below the roughly ₹1 lakh crore collected in the same month a year ago.(PTI)
Updated on Jul 02, 2020 07:32 AM IST
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Livemint | ByGireesh Chandra Prasad and Asit Ranjan Mishra

Lockdown effect: Haryana’s economy to take a hit

Tax officials said the extent of revenue loss will depend on how long the lockdown continues.
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Updated on Mar 31, 2020 10:03 PM IST
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Hindustan Times, Chandigarh | ByHitender Rao, Chandigarh

Randhawa launches health scheme for co-op banks, societies

Randhawa, who is also the chairman of Bhai Ghanhya Trust, said the trust had signed an agreement with the New India Assurance Company and MD India Health Insurance TPA Pvt. Ltd for implementation of the Bhai Ghanhya Sehat Sewa Scheme for 2020-21.
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Published on Mar 17, 2020 10:34 PM IST
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Hindustan Times, Chandigarh | ByHT Correspondent

Travel company penalised for not issuing refund to Chandigarh woman

The woman alleged that the company had also assured a jewellery coupon of 21,000, flight tickets and stay in Goa for two persons for free, but did not deliver on the promise
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Updated on Mar 12, 2020 12:43 AM IST
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HT Correspondent | ByHT Correspondent, Chandigarh

Industry hails increased turnover limit

Boost to MSMEs: Unaddressed goods and services tax slab rates leave city’s traders despondent
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Published on Feb 01, 2020 10:57 PM IST
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Hindustan Times, Ludhiana | ByHarsimran Singh Batra, Ludhiana

‘Centre responsible for financial crisis in Punjab’

At a time when leaders of the Shiromani Akali Dal (SAD) and the Bharatiya Janata Party (BJP) are continuously demanding the resignation of Punjab finance minister Manpreet Singh Badal while holding him responsible for the poor fiscal health of the state, member of parliament (MP) from Anandpur Sahib Manish Tewari has blamed the Centre for the financial crisis.
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Published on Dec 28, 2019 06:30 AM IST
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Hindustan Times, Ludhiana | ByAmarpal Singh, Ludhiana

‘Embarrassment to ask again and again’: States to FM Nirmala Sitharaman on GST compensation

As per provisions of the GST Compensation Act, 2017, loss of revenue to the states after implementation of GST is payable during the transition period. The compensation is paid bi-monthy during the transition period of five years.
The finance ministers of Delhi, Punjab, Puducherry and Madhya Pradesh and representatives Kerala, Rajasthan, Chattisgarh and West Bengal attended the meeting.(Photo: MSBADAL/ Twitter)
The finance ministers of Delhi, Punjab, Puducherry and Madhya Pradesh and representatives Kerala, Rajasthan, Chattisgarh and West Bengal attended the meeting.(Photo: MSBADAL/ Twitter)
Updated on Dec 04, 2019 07:23 PM IST
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Hindustan Times, New Delhi | ByHT Correspondent

To keep going, Punjab local bodies dept to sell off ‘unattended’ assets

Directs all 28 improvement trusts to create an annual calendar for sale of such properties; also asks MCs, other civic bodies to prepare an invento
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Published on Nov 23, 2019 01:18 AM IST
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Hindustan Times, Chandigarh | ByGurpreet Singh Nibber, Chandigarh

Manpreet seeks early release of GST arrears from Centre

Manpreet stated that the release of Punjab’s share was crucial, since its delay is impeding routine functioning. The FM assured him of the highest consideration on the above issues, according to an official release.
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HT Image
Published on Oct 29, 2019 11:16 PM IST
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Hindustan Times, Chandigarh | ByHT Correspondent, Chandigarh

Pune resident duped of 10 lakh by man she met on matrimonial website

According to the complaint, in August this year, the man told the complainant that he had sent gifts for her from the Netherlands. The alleged gifts included a Macbook laptop, perfume and a ring, among other things.
A 41-year-old woman from Hinjewadi has been duped of Rs10,00,000 by a man. (Representative Image)(PTI)
A 41-year-old woman from Hinjewadi has been duped of Rs10,00,000 by a man. (Representative Image)(PTI)
Updated on Oct 28, 2019 12:00 AM IST
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Pune | ByHT Correspondent

Find ways to release loan to homebuyers: Supreme Court

With regard to payment of service tax, the court clarified, the liability should be imposed on flat buyers only to the extent of the amount they have not paid.
The bench also asked NBCC, the receiver and court-appointed forensic auditors to work out the modus-operandi and feasibility to sell 5,229 unsold flats.(HT image)
The bench also asked NBCC, the receiver and court-appointed forensic auditors to work out the modus-operandi and feasibility to sell 5,229 unsold flats.(HT image)
Updated on Sep 12, 2019 05:59 AM IST
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New Delhi | ByHT Correspondent

GST rate cut likely for small cars, part makers

The Centre is also considering giving some relief to other sectors, especially in the unorganized segment, but a tight fiscal position may not allow it to go for a liberal rate cut across industries, the officials said.
Cars, bikes and mopeds at present attract a peak GST rate of 28% with additional cess ranging from 1% to 22%, depending on the length, engine size and type of the vehicle.(HT image)
Cars, bikes and mopeds at present attract a peak GST rate of 28% with additional cess ranging from 1% to 22%, depending on the length, engine size and type of the vehicle.(HT image)
Updated on Sep 06, 2019 11:40 PM IST
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New Delhi | ByGireeh Chandra Prasad

‘No ban on diesel, petrol cars, will consider GST cut’: Nitin Gadkari

The National Democratic Alliance (NDA) government is concerned about the impact of the slowdown in the industry on employment and economic growth, Gadkari said at the annual convention of the Society of Indian Automobile Manufacturers (SIAM).
Gadkari said he would discuss with the finance minister the prospects of lowering the GST on the automobile sector from 28% to 18%. (Photo @nitin_gadkari)
Gadkari said he would discuss with the finance minister the prospects of lowering the GST on the automobile sector from 28% to 18%. (Photo @nitin_gadkari)
Updated on Sep 05, 2019 11:23 PM IST
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Hindustan Times, New Delhi | ByHT Correspondent

BJP making same mistakes as Congress, digging its own grave: Mayawati

Mayawati was addressing party leaders and office-bearers at the state unit office in Lucknow ahead of the upcoming by-polls in 13 assembly seats in Uttar Pradesh.
Hitting out at the central government, she said the economy of the country was passing through a bad phase due to the adverse impact of demonetisation and Goods and Service Tax (GST).(HT image)
Hitting out at the central government, she said the economy of the country was passing through a bad phase due to the adverse impact of demonetisation and Goods and Service Tax (GST).(HT image)
Updated on Sep 05, 2019 05:36 PM IST
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Lucknow | ByHT Correspondent

No plan to ban petrol, diesel vehicles, says Nitin Gadkari amid crisis in auto sector

Nitin Gadkari, who was addressing the annual meet of the Society of Indian Automobile Manufacturers (SIAM), said the government is considering a cut in the goods and services tax (GST) rate for hybrid vehicles.
Nitin Gadkari assured that there were no plans to ban conventional petrol and diesel vehicles.(ANI Photo)
Nitin Gadkari assured that there were no plans to ban conventional petrol and diesel vehicles.(ANI Photo)
Updated on Jun 26, 2020 08:30 PM IST
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Hindustan Times, New Delhi | ByHT Correspondent

‘Government considering tax cut on hybrid vehicles’: Nitin Gadkari

The government’s plan comes as the auto sector battles with a steep drop in sales due to feeble consumer demand, with several top automakers and component manufacuturers cutting production and laying off employees.
India is considering a cut in the goods and services tax rate on hybrid vehicles, Nitin Gadkari said.(Bloomberg)
India is considering a cut in the goods and services tax rate on hybrid vehicles, Nitin Gadkari said.(Bloomberg)
Updated on Sep 05, 2019 12:01 PM IST
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New Delhi | ByReuters

Chandigarh civic body proposes 30% entertainment tax on movie tickets

Commissioner’s nod in, proposal to be part of agenda of September 12 House meet
At present, multiplexes in Chandigarh charge between <span class='webrupee'>₹</span>130 to <span class='webrupee'>₹</span>250 per ticket, with a few charging even <span class='webrupee'>₹</span>600 per ticket.(HT File / Photo used for representational purpose only)
At present, multiplexes in Chandigarh charge between 130 to 250 per ticket, with a few charging even 600 per ticket.(HT File / Photo used for representational purpose only)
Updated on Sep 04, 2019 02:37 PM IST
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HT Correspondent | ByHT Correspondent, Chandigarh

Will Dalal Street investors be able to digest a plate full of indelectable data?

The good and services tax (GST) collections for August, announced on Sunday, slipped to Rs 98, 202 crore. Foreign institutional investors (FIIs) have sold Indian stocks worth $2.19 billion in August.
The first trading session of September Futures & Options series began on a positive note.(Reuters photo)
The first trading session of September Futures & Options series began on a positive note.(Reuters photo)
Updated on Sep 03, 2019 09:28 AM IST
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livemint | ByHarsha Jethmalani

Why auto stocks are down despite government’s relief measures

The relief from depreciation will be substantial only for higher value vehicles such as passenger and commercial vehicles. Barring the increase in depreciation by an additional 15%, there are hardly any measures that will lower the cost of vehicle ownership.
Nifty Auto index continues to loose momentum.(Mint photo)
Nifty Auto index continues to loose momentum.(Mint photo)
Updated on Aug 26, 2019 02:17 PM IST
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livemint , Mumbai | ByVatsala Kamat

How to buy cheap forex

To exchange your foreign currency, you can approach public and private banks, money exchange centres, airports and online portals. However, currency exchange at airports can rip you off, as the charges range between 10% and 12% of the value of the amount.
A financially viable option is to ready your foreign currency before you embark upon your journey.(HT FILE)
A financially viable option is to ready your foreign currency before you embark upon your journey.(HT FILE)
Updated on Aug 26, 2019 09:33 AM IST
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Hindustan Times, Mumbai | ByRevati Krishna

What changed for businesses, people during Arun Jaitley’s watch

In a Facebook post on 1 July this year on the completion of two years of GST, Jaitley described obstacles to India’s biggest tax reform since independence.
In 2014, the National Democratic Alliance (NDA) inherited an economy which was struggling with over-leveraged companies and banks saddled with a mountain of toxic assets.(HT image)
In 2014, the National Democratic Alliance (NDA) inherited an economy which was struggling with over-leveraged companies and banks saddled with a mountain of toxic assets.(HT image)
Updated on Aug 25, 2019 10:14 AM IST
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Hindustan Times, New Delhi | ByGireesh Chandra Prasad

Another rap on the knuckles for JW Marriott, fined 5 lakh

The fine was imposed by Rakesh Kumar Popli, additional commissioner, UT excise and taxation department, in an order issued on Thursday.
JW Marriott hotel, Sector 35, has now been fined <span class='webrupee'>₹</span>5 lakh for possessing liquor bottles without the mandatory hologram.(REUTERS)
JW Marriott hotel, Sector 35, has now been fined 5 lakh for possessing liquor bottles without the mandatory hologram.(REUTERS)
Updated on Aug 08, 2019 11:48 PM IST
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Chandigarh | ByHT Correspondent

5-point checklist for homes under construction

Earlier, under-construction homes were a perennial favourite among Indian homebuyers because they cost less, have a longer shelf life and come with modern amenities, if the property is well-chosen.
The price difference between under-construction and ready-to-move homes has reduced, it has not vanished altogether.(Representative Image/Mint/File Photo)
The price difference between under-construction and ready-to-move homes has reduced, it has not vanished altogether.(Representative Image/Mint/File Photo)
Updated on May 20, 2019 12:00 PM IST
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ByAnuj Puri
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