Nikunj Ohri
BQ Prime
New Delhi, DL, India
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Past articles by Nikunj:
GST Registration By Startups May Come Under More Scrutiny
Proposal To Up scrutiny of GST registration by startups is counterproductive, say tax experts. → Read More
15th Finance Commission Report: Challenges And Controversies
The 15th Finance Commission, which submitted its report to the President of India, has had an extended tenure full of challenges and controversies. While recommendations have not been made public yet, the Commission has tackled some tricky questions, with the Covid-19 pandemic adding to its task in the final year. → Read More
Congress-Run Rajasthan Chooses Option 1 To Meet GST Compensation Shortfall
The move signals a truce between opposition party-run states and the federal government. → Read More
Government Extends MSME Loan Guarantee Scheme By One Month
MSME Loans: The emergency credit line guarantee scheme, or ECLGS scheme, has been extended till Nov. 30 or until the entire amount of Rs 3 lakh crore is sanctioned, whichever is earlier. → Read More
GST Revenue For September At Eight-Month High
The government’s goods and services tax collection rose to the highest in eight months, crossing the Rs 1 lakh crore mark, as the consumption in the economy picked up ahead of the festive season after India lifted the lockdown restrictions. → Read More
India’s Fiscal Deficit In First Half Of FY21 Rises To 115% Of Budgeted Target
The central government’s fiscal deficit target estimated in Union Budget 2020-21 was Rs 7.96 lakh crore, or 3.5% of GDP. The gap between revenue and expenditure stood at Rs 9.14 lakh crore during April-September. → Read More
Government Extends Tax Filing Deadlines Further
The income tax return filing deadline for financial year 2019-20 has been extended to Dec. 31. → Read More
Exclusive: GST Network May Borrow From Banks As Dues From Governments Mount
The centre and states together owe GST Network (GSTN) Rs 411 crore in user charges for 2020-21, amid a revenue crunch brought on by the Covid-19 pandemic. → Read More
Deadlock Over GST Compensation Continues Between Centre And 10 States
About 10 states want the centre to borrow to meet the shortfall in GST compensation, Finance Minister Nirmala Sitharaman said. → Read More
Government For Waiving ‘Interest On Interest’ On Loans Up To Rs 2 Crore During Moratorium Period
Bloomberg Bloomberg | Quint is a multiplatform, Indian business and financial news company. We combine Bloomberg’s global leadership in business and financial news and data, with Quintillion Media’s deep expertise in the Indian market and digital news delivery, to provide high quality business news, insights and trends for India’s sophisticated audiences. → Read More
GST Collections For August At Six-Month High
GST collections for August, collected in September, stood at Rs 95,480 crore, according to a statement from the Ministry of Finance. That was 10% higher than July and 4% than the year-ago period. → Read More
India’s April-August Fiscal Deficit Reaches 109% Of Budget Target
India’s fiscal deficit reached 109% of the full-year target in the first five months of the ongoing financial year as the coronavirus pandemic continued to be a drag on the government’s finances. → Read More
E-Commerce Firms, Not Payment Gateways, To Deduct Tax On Online Sales: Government
The new law to deduct income tax on e-commerce sales, which kicks in on Oct. 1, will require only online retailers to deduct the levy while making payments to merchants in cases where multiple online aggregators like third-party payment gateways are involved, the government has said. → Read More
Government’s Public Account Liabilities May Be Understated, Says CAG
The actual extent of public debt liabilities may be more than double of what is reported in financial accounts, said the CAG. → Read More
Isher Judge Ahluwalia, Economist And Padma Bhushan Awardee Dies
Renowned economist and Padma Bhushan awardee Isher Judge Ahluwalia died Saturday battling brain cancer.Ahluwalia, 74, was chairperson emeritus on the board of New Delhi based think-tank Indian Council for Research on International Economic Relations (ICRIER). In 2009 she was awarded the Padma Bhushan award—third highest civilian honour—for her work in the fields of education and literature. → Read More
India Hikes MSP Of Six Rabi Crops Amid Protests On Farm Bills
India increased the minimum support prices for six rabi crops following protests by farmers and lawmakers over apprehensions that the new farm bills passed by the government would end the MSP regime. → Read More
India Needs Calibrated Economic Reconstruction Post-Covid-19: Finance Ministry
It’s critical to re-orient India’s policy towards calibrated reconstruction of the economy, and emphasise on improving areas such as supply chain, healthcare, among other sectors, the Finance Ministry has said. → Read More
Advisory Panel To Finance Commission For ‘Nuanced’ Approach In Tax Devolution To States
The Economic Advisory Council to the 15th Finance Commission has urged the commission to take a “nuanced” approach while suggesting tax devolution to states, other transfers and financing expenditure amid stress in revenues. → Read More
Finance Minister Nirmala Sitharaman Urges Banks To Support Borrowers Once Loan Moratorium Is Lifted
Finance Minister Nirmala Sitharaman urged banks to support borrowers who are in distress after the loan moratorium is lifted, and not let pandemic-related stress impact assessment of their creditworthiness. → Read More
GST Collections For July Remain Steady At Rs 86,449 Crore
GST collections for July, mopped up in August, stood at Rs 86,449 crore, according to a statement by the Ministry of Finance. That’s a drop of 1% over June and 12% compared to the year-ago period. → Read More