You are here: Home >> English News & Features >> BUSINESS & ECONOMY

GST exemptions may cost govt up to `8K cr

DNMUM429750 | 1/11/2019 | Author : Sanjay Jog | WC :492

Mumbai: The government may lose about Rs 5,200 crore annually following the GST Council’s decision to double the exemption limit for payment of goods and services tax (GST) to Rs 40 lakh by micro, small and medium enterprises (MSMEs).
Besides, the government may also have to take hit of another Rs 3,000 crore, according to a GST Council member, who did not want to be named. This would be on account of the revision in GST Composition Scheme that can be availed of by small traders and businesses having a turnover of Rs 1.5 crore, up from the earlier Rs 1 crore, and making service providers and suppliers of both goods and services up to a turnover of Rs 50 lakh eligible to for GST Composition Scheme and pay a tax of 6%.
Another G
Read full story

Copyright restricted. Under license from   
Add To Lightbox
Calculate Price


Need money urgently? Here are some options
DNMUM433869 | 3/25/2019 12:00:00 AM | Author : Kumar Shankar Roy | WC :1160

Mumbai: It was Asia’s richest man Mukesh Ambani who helped his younger brother Anil avert jail. ‘Mota bhai’ stepped for his sibling, who completed the required payment just ahead of the court’s one-month deadline. Not everybody has an elder bro
Add To LightboxCalculate Price

Share wealth in a form your heirs are comfortable with
DNMUM433870 | 3/25/2019 12:00:00 AM | Author : Vivek Kaul | WC :693

“Okay, Sanjana,” talk to you later, she said.“That was a long call,” I said.“Yes, my cousin Sanjana.”“What were you guys talking about?”“What else but real estate.”“Interesting.”“Yes, they know that I know you, V. Hence, the questions.”“W
Add To LightboxCalculate Price

The cost of flying high
DNMUM433878 | 3/25/2019 12:00:00 AM | Author : Praveena Sharma | WC :1315

In 2012, when the government-owned State Bank of India (SBI) rejected Kingfisher Airlines’ application for a working capital loan of Rs 200 crore, the Vijay Mallya-owned airline was pushed into the turbulence zone.After that, the full-service carrier
Add To LightboxCalculate Price

Hind Glass says will repay `2,500 crore loan by April
DNMUM433879 | 3/25/2019 12:00:00 AM | Author : Sumit Moitra | WC :383

Kolkata: In a relief to banks like State Bank of India (SBI), debt-ridden glass packaging major, Hindustan National Glass and Industries Ltd (HNGI), has promised its bankers to repay the complete outstanding amount of Rs 2,500 crore by April 2019. A
Add To LightboxCalculate Price