Show E-Way Bill To GST Inspector For Movement From One State To Other

NEW DELHI: Businesses and transporters have to produce before a GST inspector e-way bill for moving goods worth over Rs 50,000 from one state to another.  Over 1.71 lakh inter-state e-way bill have been generated on the day of its nationwide launch on Sunday however experts are vary saying that the real test of the portal will be on Monday.

A total of 10,96,905 taxpayers have registered on e-way bill portal till date. Further 19,796 transporters, who are not registered under GST, have enrolled themselves on the e-way bill portal, the finance ministry said in a statement. “1,71,503 e-way bills have been successfully generated on the portal from 00:00 hours till 17:00 hrs of 1st April, 2018,” the ministry said.


Buoyant Market Helps Record Collection Of STT

NEW DELHI: The government has been able to amass a record collection of amount from the securities transaction tax (STT) in 2017-18. Buoyancy in the stock market has helped the government to collect such a huge amount.
According to an official with the income tax (I-T) department, the STT collection for the fiscal year stood at Rs 111.23 billion, an increase of 24 per cent over 2016-17. The amount is also 43 per cent higher than the Revised Estimates of Rs 77.7 billion. Introduced in 2004, the STT is levied on all stock market transactions. The tax is in the range of 0.017 per cent and 0.125 per cent of the transaction amount.
The increase in STT collection is because of a high trading turnover, particularly in the derivatives segment. Derivative volumes on the National Stock Exchange (NSE) jumped 75 per cent in 2017-18 over the previous fiscal year. Combined cash volumes on the NSE and the BSE, too, rose 38 per cent in 2017-18.


ICICI Calls Allegation Against KochharAs Malicious And Unfounded

NEW DELHI: Yet another controversy of a bank providingfavour to industrialist when ICICI Bank moved to put to rest rumours that its Chief Executive ChandaKochhar allegedly favoured Videocon Group in its lending practices. The bank called rumours "malicious and unfounded".

The bank's board "has come to the conclusion that there is no question of any quid pro quo/nepotism/conflict of interest as is being alleged in various rumours," the third-biggest Indian lender by assets said in a stock exchange filing on Wednesday.

The board has "full confidence and reposes full faith" in Kochhar, the statement said. ICICI Bank has lent to Videocon, a consumer electronics and oil and gas exploration company, as part of a group of lenders and is not the leader of the group, the bank said.


Govt. to borrow Rs 2.88 lakh crore in first half of 2018-19

New Delhi: The central government in consultation with the Reserve Bank of India (RBI) on Monday deliberated over its borrowing programme for 2018-19 and finalised its borrowing calendar for the first half of 2018-19 (April-September).

After making a careful assessment of its financial needs for the first half, the government's gross G-Sec borrowing will be only Rs. 2,88,000 crore in H1 of 2018-19, the Ministry of Finance said.

This makes up only 47.5 percent as against 60-65 percent share in this period in previous years.


India giving top most priority to its relationship with Africa: Suresh Prabhu

New Delhi: Commerce and Industry Minister Suresh Prabhu has said, India is giving top most priority to its relationship with Africa. 

Giving the keynote address at the 13th CII-EXIM Bank Conclave on India-Africa Project Partnership in Delhi on Sunday, Mr Prabhu said, India considers all countries important but African nations have special place in India’s heart. 

He said, Africa is the first priority in terms of foreign policy and other matters. 

The Minister said, this relationship should be further deepened. He said that some countries are creating a world of protectionism and creating tariff and non-tariff barriers.