World Bank Projects India's FY19 GDP Growth At 7.3%

The World Bank on Wednesday projected India's GDP growth at 7.3 per cent for the next financial year

State Bank of India (SBI) reduced charges for non-maintenance of average monthly balance (AMB) on savings accounts by up to 75 per cent. This move is aimed at benefiting 25 crore customers, India's largest bank, said in an official statement. The charges for non-maintenance of AMB for customers in metro and urban centres have been reduced from a maximum of Rs 50 per m...

From April 1, 2018, SBI said it will charge a maximum of Rs 15 plus GST for a month for non-maintenance of average monthly balance (AMB) in the savings bank accounts held by customers in metro and urban branches.

For semi-urban and rural centres, the charges have been reduced from Rs 40 per month plus GST to Rs 12 and Rs 10 per month plus GST, respectively, the bank said in a release.

Congress President Rahul Gandhi on Saturday said that internal bickering and generational fight within the Congress party and issues relating to corruption led to its defeat in the 2014 general election.

GST Council extends tax exemptions by six months till October 1 after which an e-wallet scheme would be put in place to continue the benefits.

GST Council has recommended the introduction of e-way bill for inter-State movement of goods across the country from April 1

Though the GST Council decided to rollout the E-way Bill from April 1, the council seemingly fell short of the industry expectations by not making the GST filing process simpler on Saturday. The GST Council, in its 26th meet, could not decide on a simplified GST return form and entrusted a ministerial panel under Sushil Modi, finance minister of Bihar, to chalk out a ...

In its 26th meeting, Arun Jaitley-chaired GST Council decided that electronic way or e-way bill between states will be implemented from April 1.

In case individual consignment amounts to less than Rs 50,000 within the state, then no e-way bill is needed.

The government today sought Parliament nod for additional cash spending of Rs 85,315.30 crore in the current fiscal, of which 70 per cent is earmarked to compensate states for revenue loss on account of GST roll out.

The spending would include Rs 62,700 crore compensation to the state governments and union territories following the launch of GST last year.

The GST council would look at finalising the module proposed by Nandan Nilekani to simplify filing of returns on March 10

In an SBI Ecowrap report, Chief Economist Soumya Kanti Ghosh noted that the speculative collection target pegged at Rs 7.4 lakh crore.