Blogs

BACKGROUND:  

Priority Sector Lending Certificates (PSLCs) are tradable certificates issued against priority sector loans of banks so as to enable banks to achieve their specified target and sub-targets for priority sector lending through purchase of these instruments in the event of a shortfall and at the same time incentivizing the surplus banks to lend more to these sectors. It was first proposed by A.M. Godbole in his article "How to lend more to the poor" (Mint, 28 March 2007)....

Implementation of Goods and Services Tax (GST) was one of the long awaited fiscal reform and due to various reasons it was only hanging around and could not circumvent the obstacles for substantially long period of time so much so that people started saying that the reform may not see a light of the day. However, all that is history now and we are lucky to witness the eventual implementation of this tax reform and today we stand at a timeline of 200 days post GST implementation. At this...

BACKGROUND:  

Much expected and game changing indirect tax law was introduced in the form of GST with effect from 1st July 2017. This financial is unique from Indirect Taxes perspective as the erstwhile indirect taxes such as service tax, central excise and VAT were prevalent for the first quarter i.e. April 2017 to June 2017 and later GST is in place for the remaining three quarters. Therefore, as we come close to the end of the financial year 2017-18, it is important to revisit and...