The US decision to withdraw export incentives from India has been taken in a "haste" and would hurt the domestic exporters, industry chamber CII said on June 3.
Hit by the triple whammy of delay in GST refunds, unfavourable forex and end of trade privilege to Indian firms, the micro, small and medium enterprises (MSME) sector wants the government to offer incentives in the upcoming Union Budget so that it can cope with the tough times.
Gross Goods and Services Tax (GST) collections have stayed above the Rs 1 lakh crore mark for the third consecutive month in May. However, the mop-up so far for this financial year is lagging behind the required run rate by around Rs 13,500 crore.
New Delhi: The government is all set to take action against tax and money laundering with the help of data analysis to detect overstated goods and services tax (GST) claims that do not match up with income tax returns (ITR).
Finance Minister Nirmala Sitharaman began work on Saturday by taking detailed briefings from four of five departments of the finance ministry. The minister is also expected to hold talks with Reserve Bank of India Governor Shaktikanta Das soon.
The rupee appreciated by 31 paise to 69.39 against the U.S. dollar in opening trade on Monday, driven by easing crude prices and higher opening in domestic equities.