Gulveen Aulakh

  • Bidding deadline extended for BPCL

    Bidding deadline extended for BPCL

    Earlier dates for submitting bids was May 2 and inquires was April 4. The department added that any further changes to dates will be communicated to interested bidders. The government has set $10 billion minimum net worth as one of the eligibility criteria for bidders, while explicitly excluding public sector units having 51% government ownership from the bidding process.

    14% shortfall likely in direct tax mop-up

    14% shortfall likely in direct tax mop-up

    Collection of direct tax for the just-concluded fiscal 2020 is expected at Rs 10.1 lakh crore, well short of the government’s most recent estimate of Rs 11.7 lakh crore, officials in the know said.

    GST rates for mobile phones, matchsticks, MRO services notified

    GST rates for mobile phones, matchsticks, MRO services notified

    Mobile phones will be charged 18% GST from April 1, compared to 12% earlier, while all kinds of matchsticks will be charged a 12% GST versus a range of 5% to 18%. Maintenance and repair operations (MRO) services required for aircraft will be charged 5% GST, lower from the earlier rate of 18%, with full input tax credit.

    Separate GST registrations confuse interim resolution professionals

    Separate GST registrations confuse interim resolution professionals

    IRPs appointed under the Insolvency and Bankruptcy Code (IBC) have approached the finance ministry, seeking clarity on several aspects regarding the Central Board of Indirect Taxes and Customs (CBIC) notification issued on Saturday and a follow-up circular on Monday, people familiar with the development said.

    PM Garib Kalyan Yojna: India begins virus battle with Rs 1.70 lakh crore plan

    PM Garib Kalyan Yojna: India begins virus battle with Rs 1.70 lakh crore plan

    Under the PM Garib Kalyan Ann Yojana, 80 crore poor people, covering about two-thirds of the country’s population, will get 5 kg rice or wheat each month for the next three months free of charge, in addition to the 5 kg they already get. Each household will get 1 kg of dal of their choice, for next three months, also free of charge.

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