Finance Minister Nirmala Sitharaman on Monday said corporate tax rate for companies with over Rs 400 crore turnover will be gradually cut to 25 per cent and the government will support wealth creators.
Since the inception of Goods and Services Tax (GST), the main intention of the government was to have a robust system for allowing invoice level reconciliation of transactions. It was envisioned in the form of the returns- GSTR-2 and GSTR-3.
The Reserve Bank of India (RBI) is considering asking banks to link loans to an external benchmark such as the repo rate to improve transmission of policy rates and foster economic growth, said central bank governor Shaktikanta Das.
The Economic Advisory Council to the Prime Minister (EAC-PM) has recommended a GST Council-like mechanism for the Centre and states to oversee public expenditure. This is not the first time such a call has been made.
West Bengal Chief Minister Mamata Banerjee on Friday announced the allocation of Rs 13,000 crore for developing nine Micro, Small and Medium Enterprises (MSME) industrial parks in the state's Howrah district, according to media reports.
New Delhi, Aug 19 (KNN) Public sector banks (PSBs) held a consultative and ideation process with their branch heads across the country over the weekend to identify the issues and challenges faced by branches and how to improve their performance.