The first advance estimates by the government puts the nominal GDP growth for 2019-20 at 7.5% against the Budget target of 12%. Besides being the lowest in last 42 years, a 7.5% nominal rate growth throws the government finances out of gear.
Q. We are manufacturers and exporters of agro chemicals (e.g., pesticides and weedicides). In connection with manufacturing of one of our products, we intend to import process technology to improve the yield of finished goods, with reduced process/production time.
Department of Revenue through data analysis has identified 931 cases of fraudulent GST.The maximum numbers of such cases for Input Tax Creditfrauds have been booked in Kolkata zone followed by Delhi, Jaipur and Punchkula (Haryana).
Indian minister of textiles Smriti Irani recently asked businessmen and the Southern Gujarat Chamber of Commerce and Industry (SGCCI) to work out a plan to make Surat a textile machinery manufacturing hub.
Clothing stocks are issued by companies that specialize in apparel, whether that means designing it, selling it, or some combination of both. We all need clothes and shoes, and the industry is booming—but that doesn’t mean that every clothing or shoe company is a winner with a recognized brand name and solid earnings.
The government has identified 931 cases of fraudulent GST refund claims through data analytics.