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On consignment basis for exhibition would not in itself constitute a supply under GST since there is no consideration received at that time, but such goods would need to be accompanied by a 'delivery challan'.

Taking goods abroad for exhibitions will not have to generate tax invoice

Goods taken abroad in this manner are required to be either sold or brought back within a period of 6 months from the date of removal.

23 Jul 2019 10:35 AM

The exemption from GST on maintenance charges charged by an RWA from residents is available only if such charges do not exceed Rs 7,500 per month per member.

18 pc GST on flat owners paying monthly maintenance of over Rs 7,500

Tax liability would be calculated for a person who owns two or more flats in the housing society or residential complex.

23 Jul 2019 8:49 AM

Several players are coming into the space with funding from government agencies, private equity and corporates to cash on the opportunity.

Startups warming up to affordable housing

Players moving into the space with Govt/PE funding.

23 Jul 2019 1:09 AM

These goods are sold only when approved by the prospective customers abroad.

No GST on goods sent for fairs

Several goods are taken out of India for exhibitions or other export promotion events.

23 Jul 2019 1:07 AM

The group considered the risks associated with cryptocurrencies and the volatility in their prices before making this recommendation and draft bill.

Govt panel for banning private cryptocurrencies

The committee recommended that all private cryptocurrencies, except any cryptocurrency issued by the state, be banned.

23 Jul 2019 1:05 AM

The operational payments banks showed net losses of Rs 516.5 crore for FY18, while ‘Paytm’ PB has declared a profit of Rs 19 crore in FY19. (Photo: ANI)

Payments banks fall by the way on tight regulatory requirements

According to Soumya Kanti Ghosh, Group Chief Economic Advisor, State Bank of India, the future is "uncertain" for payments banks.

23 Jul 2019 1:04 AM

The CCI and the four auditors did not immediately respond to a request for comment.

Government wants antitrust review of ‘Big Four’ accountants: source

CCI should look into dominance of these four global auditors and whether they are thwarting competition.

22 Jul 2019 1:29 PM

Lower demand from the Indian diamond processing industry has pulled down the quarterly sales of Alrosa, the world's second largest diamond miner, as inventories rose 36 per cent. (Photo: Representational/Pexels)

Dip in India demand hits Russian diamond miner

Alrosa expects the situation to ease in the September quarter as demand from jewellery consumers remains stable.

22 Jul 2019 7:34 AM

Interestingly, while illegal flow of pepper through Nepal has increased, the import of Vietnamese pepper through Sri Lanka has come down substantially, thanks to increased monitoring.

Downtrend in pepper price to continue

Vietnam is selling the commodity at $2,800 per tonne, less than half the price of $6,000 per tonne commanded by the Indian variety.

22 Jul 2019 7:31 AM

The Parliament, earlier this month, passed an amendment bill which allows voluntary use of Aadhaar as proof of identity for users to open bank accounts and get mobile phone connections. (Photo: File | PTI)

UIDAI to soon select adjudicating officer for inquiry in contravention cases

According to the source UIDAI hopes to select the adjudicating officer in next month and half.

21 Jul 2019 1:06 PM

Gold has been moving up in the past couple of days after consolidating around $1,400 levels for some time.

Gold nearing Rs 36,000-mark

The upward trend was supported by the comments of the US Federal Reserve, acknowledging that the dollar was overvalued.

20 Jul 2019 8:03 AM

India's renewable power capacity soared by almost 150 per cent in the last 5 years to 77.6 GW.

Renewable energy capacity to reach 260 GW by 2024

India is formulating a policy to build a 30 GW local capacity for manufacturing solar cells.

20 Jul 2019 7:47 AM

The overall teledensity in the country slipped to 89.92 per cent at the end of May 2019 from 90.05 per cent at the end of April. (Representational Image)

Rural telephone subscribers fall in May, urban user base rises: Trai

The rural subscription declined from 512.91 million at the end of April 19 to 508.49 million at the end of May 2019

19 Jul 2019 4:27 PM

SFBs were basically made to cater to areas which were not served or underserved by the banking sector. (Representational Image)

FDs of Small Finance Banks vs Commercial Banks: Which one should you go for?

SFBs are giving interest rate up to nine per cent on their regular FDs and offering 9.5 per cent in case of senior citizen FDs.

19 Jul 2019 1:51 PM

Finance Minister Nirmala Sitharaman. (Photo: ANI)

Finance Minister seeks to allay fears on surcharge on super rich

RBI has opened an indirect liquidity window to aid banks to give funds to the sector, which is facing a severe liquidity crisis.

19 Jul 2019 1:27 PM

India is also formulating a policy to build a 30 GW local capacity for manufacturing solar cells and modules by 2024, Anand Kumar, secretary to the ministry of new and renewable energy, said at an event in New Delhi.

India to touch renewable energy capacity of 260 GW by 2024: govt official

India’s renewable power capacity soared by almost 150 per cent in the last five years to 77.6 GW.

19 Jul 2019 1:25 PM

Electric vehicles are not expected to make a dent on crude demand in India and elsewhere, IEA.

IEA says does not expect 'huge increase' in crude prices

The IEA is reducing its 2019 oil demand forecast due to a slowing global economy amid a US-China trade spat.

19 Jul 2019 11:01 AM

The amendment, along with 28 others, were approved by a voice vote by the Lok Sabha, which passed the Finance Bill 2019.

Cash withdrawal from multiple accounts to be aggregated for levying 2 pc TDS

Two per cent tax will be charged if aggregate cash withdrawal from one or more accounts exceeds Rs 1 crore.

19 Jul 2019 9:38 AM

Fadnavis said the committee has finalised ToR, and states have been asked to give their feedback by August 7.

Chief ministers' panel on agri favours linking Finance Commission grants with reforms

The next meeting of the committee will be on August 16.

19 Jul 2019 9:22 AM

The bad news is that over the next three days there would be less or no rains in many parts of the country, which would widen the all-India rain deficit from the present 17 per cent to 20 per cent from June 1, the start of the monsoon season.

Rains to revive, pick up pace over next two weeks

The state-run agency also said rains in the remaining parts of the country are very likely to be normal to below normal.

19 Jul 2019 6:55 AM