The Bangladesh Government has been urged to offer additional 5 per cent incentive for the readymade garments sector in the upcoming budget for fiscal 2019-20 for next three years.
Traders in the State on Sunday demanded major changes in the Goods and Services Tax (GST), including removal of collection of 18% as charge for bank transactions and bringing petrol and diesel under the GST.
All invoices for business-to-business sales by entities beyond a specified turnover threshold will be generated on a centralised government portal by September, a move aimed at curbing the menace of fake invoices and evasion of GST, officials said.
The rupee depreciated by 24 paise to 69.46 against the US dollar in early trade Monday on increased demand for the US currency from importers and weak opening in domestic equities.
Research and rating firm, CARE Ratings, has projected the gross Goods and Services Tax (GST) collections in the range of Rs 12.60 to 13.40 lakh crore in the current financial year requiring an average monthly collections of Rs 1.05-1.12 lakh crore.
India Ratings and Research (Ind-Ra) recently revised its gross domestic product (GDP) growth estimate for fiscal 2019-20 to 7.3 per cent from 7.5 per cent earlier.