New Delhi, July 7 (IANS) The government has finalised the framework for India’s first Index of Services Production (ISP), with the trial monthly series set to be released on July 14, marking a major step towards improving the measurement of the country’s services sector, according to an official statement on Tuesday.For the first time, the proposed ISP will provide a comprehensive monthly measure of short-term movements in India’s formal services sector and complement the existing Index of Indus…
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New Delhi, June 30 (IANS) When India rolled out the Goods and Services Tax (GST) on July 1, 2017, it was hailed as the country’s most ambitious tax reform since Independence. Before that, India’s indirect tax regime was a patchwork of 17 different taxes and 13 cesses levied by the Centre and the states.This fragmented system created inefficiencies, hidden costs, and the notorious “tax on tax” effect that burdened businesses and consumers alike.GST replaced this chaos with a unified framework, em…
New Delhi, June 10 (IANS) India’s domestic trade and logistics activity continued to display resilience in May, with e-way bill generation under the Goods and Services Tax (GST) regime rising to 136.08 million, marking an increase of nearly 11 per cent from 122.65 million recorded in the same month last year.The latest figures also showed a sequential growth of 2.03 per cent from 133.72 million e-way bills generated in April. The May tally represents the fourth-highest monthly e-way bill generat…
New Delhi, March 9 (IANS) India’s digital platforms ecosystem has streamlined the business lifecycle, from entry to expansion, with unprecedented speed and ease through National Single Window System (NSWS), Government e‑Marketplace, MCA21 and similar tools, the Centre said on Monday.India’s integrated digital infrastructure also widened market access and unlocked liquidity for millions of firms. The National Single Window System has granted over 8,29,750 approvals across 32 central departm…