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Showing posts from April 17, 2018

WPI Inflation Eases to 2.47% in March

WPI Inflation Eases to 2.47% in March IN THE BALANCE Food prices decline 0.29% and are likely to remain moderate in the coming months Wholesale inflation remained almost unchanged in March from the month before as a decline in food inflation offset a rise in fuel and power cost.Inflation as measured by the Wholesale Price Index (WPI) slowed to an eight-month low of 2.47% in March, compared with 2.48% in February and 5.11% a year earlier.Data released by the commerce and industry ministry on Monday showed deflation in food articles after nine months — prices shrank 0.29% in March, against 0.88% inflation in the preceding month. CARE Ratings expects food prices to remain moderate in the coming months. “Inflationary threats, however, could emerge from: increase in international oil prices, unseasonal weather patterns and minimum support prices for select crops,” it said in a noteWholesale inflation for January was revised upwards to 3.02% from the provisional estimate of 2.84%.Retail inf…

GoM to meet businesses, experts on GST return simplification tomorrow

GoM to meet businesses, experts on GST return simplification tomorrow The ministerial panel, under Bihar Deputy Chief Minister Sushil Modi, on GST return simplification will meet tax experts and representatives from industry tomorrow. As it looks to finalise a single-page return form for businesses under GST, the Group of Ministers (GoM) will seek views of the experts and representatives from businesses as to how they expect the return form to be.As per the structure being worked out by the Centre and state officials as well as Nandan Nilekani, businesses having zero tax liability for six consecutive months may get to file returns only twice a year. The return filing date will be spread out and businesses having annual turnover of up to Rs 1.5 crore will have to file return by 10th of next month, while others can file return by 20th The Business Standard New Delhi, 17th April 2018

India's apparel exports decline by nearly 4% in year of GST

India's apparel exports decline by nearly 4% in year of GST Backed by its duty-free access to the EU market, Bangladesh retains its status as the second-largest apparel exporter after China In the first year of implementation of the goods and services tax (GST), India’s apparel or readymade garment (RMG) exports have declined by nearly four per cent in dollar terms in FY18. In rupee terms, the decline is higher at 7.6 per cent.RMG exports fell from Rs 17.4 billion in FY17 to Rs 16.71 billion in FY18, a 3.8 per cent decline. Fall in RMG exports happened due to continual month-on-month (MoM) decline in dollar terms, beginning from a 39.30 per cent fall in October 2017 and ending at 17.8 per cent in March 2018. In the latter month alone, India’s RMG export was Rs1.49 billion, against Rs 1.81 billion for the corresponding month last year. H K L Magu, chairman, Apparel Export Promotion Council, said, “The export figures show apparel export is not only stagnating but heading towards recessi…