The growth outlook in India and globally look to be slow amid longevity of Russia – Ukraine war and high inflation. All major agencies including IMF, S & P etc have lowered the projection for financial year 2022. However, GDP growth projection for financial year 2023 look better, though inflation is worrisome, there may not [&hellip...

In view of the ongoing and continuous inflation, Reserve Bank of India in a surprise move, raised repo rate by 40 basis points and Cash Reserve Ratio (CRR) by 50 basis points to check rising inflation. Repo ratio has been enhanced after a gap of 45 months, for the first time post Covid. This will […]...

Ministry of Finance has released a ‘Status Note’ on GST compensation to states and UT’s on 28th April, 2022 stating that Rs. 2.78 lakh crore of compensation has been released to states for the year 2020-21 and nothing is pending for this year. It has further released Rs. 7.35 lakh crore and compensation of Rs. […]...

In order to streamline the invoicing system in GST regime, CBIC has introduced the system of e-invoicing and has made it mandatory for taxpayers in phases. E-invoicing implies that registered taxpayers are required to generate and issue invoices electronically online known as e-invoicing. Under the electronic invoicing system, an identifi...

Services provided by the Government to business entities including by way of grant of privileges, licences, mining rights, natural resources such as spectrum etc. against payment of consideration in the form of fee, royalty etc. are taxable under GST. Same was the position under Service Tax regime also with effect from 1st April, 2016. Ta...

We have moved to a new financial year, 2022-23 from 01.04.2022, an yet another necessary migration every year. The last fiscal 2021-22 was not so good but if we look at the Covid pandemic, it was already there with two variants or waves hitting India, former being more severe, former being more severe. It crippled […]...

According to MoF, Indian economy is poised for facing external stocks. Our external sector indicates robust growth in exports and signs of resilience. However, inflation remains a cause of concern. In a recent review, rating agency CRISIL has retained its forecast for GDP growth @ 7.8 % for FY 2023 as risks shift from Covid […]...

Now that election results of five state assemblies which went to polls is February – March, 2022 have been announced with BJP winning four states, while one going to AAP party for the first time. These results reflects that there is going to be stability in policy making and Governance which will only be beneficial […]...

Economists are now predicting of lower than 9.2% economic growth in financial year 2021-22. The third quarter has been hit by Omicron wave and expansion as expected could not take place. Economic growth is expected to be lower in Q3 and Q4 as compared to Q1 and Q2 of current fiscal. According to RBI, economic […]...

Finance Bill, 2022 has proposed certain changes in Goods and Services Tax laws through proposals contained in its clauses 99 to 123. While these amendments shall come into force from a notified date after enactment of Finance Bill, 2022, there are specific proposals which upon enactment, shall come into force from retrospective effect or ...