Restaurants are currently levied a 5% GST, but they can’t claim the input tax credit against the tax they paid on raw materials and other expenses like rent. GST rate on restaurants was slashed to 5% from 18% in November 2017. While levying of 18% allowed them to claim input tax credit, under the 5% rate, they can’t do that.
A reduction in the value of assets could affect the company's ability to raise funds.
CBEC is set to clarify that common function like HRs should be out of the GST gamut
The taxman wants companies to treat services as supply, meaning the people providing the service will pay GST.
Sebi recently announced operational guidelines for FPIs and depository participants.
Deal could offer partial exit to Goldman Sachs that owns 48% stake in green energy company. Goldman Sachs, a backer of the company since 2011, has invested about $370 million in ReNew Power through 2013 and 2014. Founded in 2011 by Sumant Sinha, the son of former finance minister Yashwant Sinha, ReNew Power has more than 4,300 mw of operational capacity.
A majority of Indians continue to make a substantial percentage of their total annual purchases in cash, the survey said. About 40% people said anywhere between 5% to 25% of their total purchases were in cash, 29% said anywhere between 25% to 50% of their purchases were in cash and 27% said at they paid cash while purchasing almost every item in last year.
The Securities and Exchange Board of India recently announced operational guidelines for FPIs and depository participants.
Infosys hired PwC to investigate two whistle-blower complaints alleging financial malfeasance against chief executive and finance chief. The company has already roped in law firm Shardul Amarchand Mangaldas (SAM) to look into the legal side of the complaints and asked its internal auditor, EY, to probe its revenue recognition practices.
The forensic audit conducted by KPMG has revealed alleged routing of at least Rs 20,000 crore by DHFL to several shell companies. But it did not specifically look into any links with Mirchi and Dawood.
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