Government cuts PPF, NSC rate to 7.8%

The government has reduced interest rates on small saving schemes, including the Public Provident Fund (PPF), NSCs and Kisan Vikas Patra by 10 basis points. PPF and NSCs will now earn 7.8%, while KVPs will fetch only 7.5%. Prior to this rate cut, PPF, NSC and KVP were offering 7.9%, 7.9% and 7.6% respectively. The […]

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CBDT: PAN without Aadhaar is valid

NEW DELHI: The income tax department has said permanent account numbers that are not linked to Aadhaar by July 1 will not be cancelled, stepping in to calm the panic caused by a notification issued on Wednesday. “There is no need for any panic. PAN will not become invalid after June 30,” Sushil Chandra, chairman […]

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PIL Seeking Postponement of GST Rollout: Bombay HC Reserves Judgment

The Bombay High Court on Thursday reserved its order after hearing a PIL seeking postponement of the implementation of India’s much awaited indirect tax law i.e GST. A bench comprising Justice VK Tahilramani and Justice SK Shinde heard arguments from Additional Solicitor-General Anil Singh and submissions made by petitioner Dr KS Pillai, who appeared in […]

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GST: Here are changes that can stump you right after midnight

At midnight on June 30, Prime Minister Narendra Modi will formally usher in the country’s new Goods and Services Tax (GST). First proposed in 2006, the GST will subsume more than a dozen state and central levies into one tax, unifying this country of 29 diverse states and 1.28 billion people into a single market for […]

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Tomorrow Morning will be GST Morning

India is bracing with tense anticipation for the inauguration of the goods and services tax (GST), which is expected to rewrite the rules of business, while reducing the burden on the common man. GST is billed to integrate India into a common market, bigger than the European Union. Proponents say that by doing away with […]

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Fast forward; GST set to transform face of Indian logistics industry

India’s greatest tax reform – replacing an array of provincial duties with a nationwide goods and services tax – is transforming the logistics industry in a country where moving stuff around is notoriously difficult to do, executives say. The advent of organised retail and e-commerce began modernising warehouses in India a decade ago, but most […]

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