NEW DELHI: The Central Board of Indirect Taxes and Customs (CBIC) has frozen tax credits of around Rs 40,000 crore as the returns did not match, exposing alleged fraud by close to 2,000 entities, apart from cases where returns were not filed.
Union Budget 2020 India: With persistent domestic and external headwinds in the last year, there is an expectation of strong and robust measures being announced in the upcoming budget to support economic revival, and boost sagging growth.
It is generally believed and argued by most economists that a rapid growth of exports leads to higher economic expansion.
NEW DELHI : When finance minister Nirmala Sitharaman presented her first budget on 5 July last year, one crucial word was missing from her 20,189-word speech: Exports. This led to talk of a probable turf war between the finance ministry and the commerce ministry.
The Indian government recently approved setting up of a common facility centre (CFC) to support power loom units in Palladam and Somanur areas of Tamil Nadu.
Budget 2020 India: Ease in GST filing will greatly benefit SMEs even as the GST council has taken several steps to simplify the process over the past couple of years.