Indivjal Dhasmana

Normal monsoon key but not the only factor to keep inflation under control

Developments such as Covid-induced lockdowns and the Russia-Ukraine war have also played a crucial role in keeping the inflation rate elevated

Liquidated damages in certain cases to draw 18% GST, rules Andhra AAR

Such damages are the sum that one party receives when the other party fails to meet provisions of a contract

MPC lowers projection for inflation, raises growth outlook a bit in FY24

Volatility in global financial market has potential upsides for imported inflation, says committee

Floor mats for four-wheelers to attract 28% GST, says Gujarat AAR

The applicant, a manufacturer, had argued that 18% GST should be applicable

States switching to OPS incurring less proportion of earnings on pension

The state used to spend a proportion of its revenue receipts on pension expenditure in double digits in 2019-20 and 2020-21

Initial field work for annual survey of services sector begins for 2022-23

However, the survey itself may not come up before the end of 2024

Tobacco in gunny bags to attract 28% GST, 71% compensation cess: AAR

No new product emerges from the post-coating process, rules authority in Gujarat

Inflation-growth dynamics may enhance dilemma of monetary policy committee

Many believe that the committee may go for another 25 basis point hike in repo at the April policy

Roof mounted AC units for passenger coaches to have 28% GST: Punjab AAAR

Issue was product would come under which heading of harmonised system of nomenclature code

A tall order reaching $5 trn GDP a year ahead of IMF's FY27 projection

India's economy is officially projected to reach Rs 272 trillion, or $3.58 trillion, this financial year

External situation worsens as India aims to grow 6-6.8% in FY24

India may have to hugely rely on domestic consumption to drive growth as the external environment as cited above is facing a slowdown

Invoices, cheque payment not sufficient to claim ITC under VAT: SC

Apex court allows tax authorities' appeal against Karnataka High Court judgment

Manufacturing output in IIP still shows weakness as headline numbers grow

One reason for decline is muted domestic demand, particularly in rural areas due to high inflation

Bombay HC relief for GST assessees amid non-existence of tribunal

No recovery from taxpayers once a declaration of intent filed by them to appeal against order of lower authorities is put on record

Ice cream sold over counter but not prepared in outlet to attract 18% GST

If ordered with food, tax would be the lower rate; over the counter, it would attract a higher GST

Difference between investment rate in nominal and real terms widening

The difference between the real and nominal GFCF rates was five percentage points. The difference stood at over 5% in the previous two quarters of the current financial year

Is India's economy really 'dangerously close' to Hindu rate of growth?

Economists have a different view on Raghuram Rajan's apprehensions

Demand remained muted despite the largely Covid-free festival season in Q3

Growth in private final consumption expenditure was down 7 percentage points from Q2

Labour-intensive manufacturing segments facing external headwinds

Experts say manufacturing is declining due to a slump in overseas demand and production-linked incentive schemes will take time to yield results

Central banks, including RBI, may raise interest rates to combat inflation

ECB President Christine Lagarde has already said the bank till hike rates, if needed