GST returns deadline: Reminders to 25,000 defaulter taxpayers

According to the GST return filing schedule, the GSTR-3B returns were expected to be filed in a staggered manner by November 20, 22 and 24 for transactions made in October. The government is mulling cancelling GST registration for 5.43 lakh taxpayers who have not filed monthly tax returns (GSTR-3B) for the last six months or more, sources in the revenue department said. Additionally, the department would ‘persuade’ 25,000 taxpayers, who have not filed returns for October that was due by November 24, to comply with tax return deadlines. Sources said tax officers have been directed to follow up personally with these […]

Continue reading

The Economy Is Still Vulnerable. Trade Could Be a Refuge.

Only a year ago, trade was a big worry for investors, and the strong domestic economy a source of comfort. How times change. The median estimate among analysts is still that the U.S. economy will expand 4% in the final quarter relative to the third. Vaccines under development also raise the prospect of a quicker end to the pandemic, which could help unlock some extra capital spending and hiring. But at the same time, signs of weakness are creeping into the labor market and Covid-19 cases are surging. In the eurozone, the economy… Source link

Continue reading

Stocks Say Covid Recovery Is Nigh. Bonds Tell a Different Story.

After the Covid-19 vaccines proved effective this month, almost every corner of the market signaled that a faster recovery is on the way. Economically sensitive stocks, industrial metals, crude oil, the flakiest junk bonds: all have rallied hard. But not Treasurys. The vast U.S. government bond market is usually highly sensitized to growth prospects, and especially to what’s known as the “reflation trade”: The bet that the economy will rebound quickly. Faster growth almost always means higher inflation, higher yields and so… Source link

Continue reading

Highest FDI inflows to India coming from Singapore and USA; software sector biggest beneficiary

Other top contributors include the Cayman Islands with inflows worth Rs 15,672 crore and Mauritius with Rs 15,019 crore. So far this financial year, Singapore and The United States of America have been the biggest contributors towards FDI equity inflows to India. Data published by the Department for Promotion of Industry and Internal Trade (DIPP) shows that Singapore has invested Rs 62,084 crore into India between April and September 2020. This was followed by the USA with Rs 53,266 crore of inflows. In the fiscal second quarter alone, India has received $28 billion of FDI inflows, which included equity inflows, re-investment […]

Continue reading

Pausing Loan Payments During Coronavirus Is Producing Uneven Results

Jim Curran in Malvern, Pa., lost his job in March and got permission to pause his mortgage payments, freeing up thousands of dollars a month, with no damage to his credit score. Patricia Orndorf in St. Louis Park, Minn., also lost her job in March. Her bank let her temporarily skip her credit-card bill, which had a minimum monthly payment of roughly $100, through July. But interest still piled up, and late fees for August, September and October added to her balance. The… Source link

Continue reading

Fiscal deficit: Government spending picks up in October

The Centre’s budget spending in October rose 9.5% on year, after 26% decline seen in September and the budget estimate of 13.2% annual spending growth for FY21. The capex in October at Rs 31,519 crore was up 130% on year even though the April-October data showed a decline of 2%. With net tax revenue declining by about 16% on year in April-October, analysts see fiscal deficit more than doubling from the budgeted level of Rs 8 lakh crore for FY21. The April-October fiscal deficit was 119.7% of the FY21 target.   Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal […]

Continue reading