CA Online

Credit growth among MSMEs getting better The credit growth in the micro, small and medium enterprises (MSME) sector is improving, with the overall exposure reaching the highest level in over a year, says MSME Pulse Quarterly Report by Transunion CIBIL-SIDBI. The overall credit exposure has shown the highest growth in last five quarters at  Rs 54.20 trillion as on March 31, 2018, with MSMEs  constituting Rs 12.6 trillion(23 per cent) of the commercial credit outstanding. The Business Standard, New Delhi, 21st June 2018

Govt amends norms for full fledged internet telephony by telecom operators The new amendment allows only authorised licenced holder to provide full fledged internet telephony and not over-the-top players like WhatsApp, Google Duo The government has amended norms to allow full fledged internet telephony by telecom operators which will enable calls from app to app of licenced service providers as well as on phone numbers. The new amendment allows only authorised licenced holder to provide full fledged internet telephony and not over-the-top players like WhatsApp, Google Duo etc that allow only app to app calling. "With reference to the internet telephony services envisaged in the licences it is clarified that the said service is untethered from the underlying access network. Hence internet telephony service can be provided by access service provider to the customers using internet service of the other service providers," a note from the Department of Telecom issued to

No pure GST on petrol, diesel; 28% tax plus VAT a possibility: Official GST has been spoken of as a panacea for high fuel prices but the structure in works would ensure rates remain almost at same levels A peak tax rate of 28 per cent plus states levying some amount of local sales tax or VAT on petrol and diesel is likely to be the tax structure when the two auto fuels are covered under the GST regime, a top government official said. The peak GST rate plus VAT will be equal to the present tax incidence, which is made up of excise duty, levied by the central government, and VAT charged by the states. But before the two fuels are put under GST, the Centre has to decide if it is willing to let go of the about Rs 200 billion (Rs 20,000 crore) of input tax credit it currently pockets by keeping petrol, diesel, natural gas, jet fuel and crude oil out of the Goods and Services Tax (GST) regime that came into force from July 1, 2017, the official said "There is no pure GST on

  With fall of the last dove, MPC minutes portend more than one RBI rate hike MPC minutes released today showed that the most dovish member Ravindra Dholakia now shares the view of his antithesis Michael Patra on inflation Data puts differences to rest. That in a nutshell explains how the six members of the Reserve Bank od India’s monetary policy committee (MPC) came together to vote for an RBI repo rate hike earlier in June. Recall that there has been at least one dissenting vote in the six meetings of the MPC preceding that of the current month. MPC minutes from the latest RBI meeting, which lasted for three days instead of the customary two, showed that the most dovish member Ravindra Dholakia now shares the view of his antithesis Michael Patra on inflation. Indeed, it became difficult for Dholakia to ignore the sharp rise in crude oil prices and its impact on the economy. Inflation expectations too seem to have begun to worry not just Dholakia but every member of the MPC. B