GST to Settle Issues on Double Taxation of Software

Introduction of goods and services tax (GST) will help settle the issue of double taxation on some transactions like in case of software, a top finance ministry official said. “On the issue of double taxation on some transactions like software, it is true that there are disputes on the issue pending in various courts and forums, but I sincerely hope that will settle only after the introduction of GST,“ said Sanjay Gupta, Commissioner of Service Tax, Delhi IV, while inaugurating an Assocham national seminar on service tax and Cenvat credit.

The Economic Times New Delhi,14th April 2016

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RBI deputy governor cautions fintech platform lenders on privacy concerns during loan recovery

India's digital lending infrastructure has made the loan sanctioning system online. Yet, loan recovery still needs a “feet on the street” approach, Swaminathan J, deputy governor of the Reserve Bank of India, said at a media event on Tuesday, September 2, according to news agency ANI.According to the ANI report, the deputy governor flagged that fintech operators in the digital lending segment are giving out loans to customers with poor credit profiles and later using aggressive recovery tactics.“While loan sanctioning and disbursement have become increasingly digital, effective collection and recovery still require a 'feet on the street' and empathetic approach. Many fintech platforms operate on a business model that involves extending small-value loans to customers often with poor credit profiles,” Swaminathan J said. Fintech platforms' business models The central bank deputy governor highlighted that many fintech platforms' business models involve providing sm

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India can't rely on wealthy to drive growth: Ex-RBI Dy Guv Viral Acharya

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