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[ad_1] Dollar stumbles as markets rethink interest rate path [ad_2] Source link

[ad_1] Ukrainian forces will have to leave Sievierodonetsk -governor  Reuters.com Ukraine-Russia News  The New York Times Ukrainian troops to withdraw from Severodonetsk, local leader says  Axios The war in Ukraine has entered a new, and more difficult, phase  The Guardian Latest Russia-Ukraine war news: live updates  The Washington Post [ad_2]

[ad_1] The GST Council in its meeting next week is likely to consider a proposal for making changes in the monthly tax payment form — GSTR-3B, which would include auto-population of outward supplies from sales return and non-editable tax payment table, officials said.The move would help curb the menace of fake billing, whereby sellers would show higher sales in GSTR-1 to enable purchasers to claim input tax credit (ITC), but report suppressed sales in GSTR-3B to lower GST liability. Currently, GSTR-3B of a taxpayer includes auto drafted input tax credit (ITC) statements based on inward and outward B2B supplies and also red flags any mismatch between GSTR-1 and 3B. As per the changes proposed by the Law Committee of the GST Council, there will be auto-population of values from GTSR-1 into GSTR-3B in specific rows to establish one-to-one correspondence to a large extent between rows of the two return forms, thereby providing clarity to the taxpayer and tax officers. The change would minimize the requirement of user input in GSTR-3B and ease the GSTR-3B filing process, an official said. The tax payment table in Form GSTR-3B will be auto-populated from other tables in the form and will be non-editable, as per the amended form recommended by the Law Committee of the Council. Noting that amendment in Form GSTR-3B, as far as feasible, should flow from amendment in Form GSTR-1, with regard to outward liabilities, the Committee suggested that for giving more clarity to the taxpayers, separate amendment table (for liabilities) may be introduced in GSTR-3B, so that any amendment made in Form GSTR-1 gets reflected in GSTR-3B clearly. Similarly, an amendment table may also be incorporated in GSTR-3B to show any amendment in the ITC portion, the Committee suggested. Once the changes proposed by the Law Committee gets an in-principle approval of the GST Council, the revamped form will be put in public domain for stakeholder consultation. The GST Council in a meeting later will then approve the final form. Currently, taxpayers file statements of outward supplies in GSTR-1 by the 11th day of the subsequent month, while taxes are paid by filing GSTR-3B between 20th, 22nd and 24th of every month for different categories of taxpayers.Commenting on the proposed changes in GSTR-3B, AMRG & Associates Senior Partner Rajat Mohan said tax filings are set to change for e-commerce operators rendering passenger transportation services, accommodation services, housekeeping services, and cloud kitchens. Such e-commerce players would now be made liable to report supplies on behalf of suppliers in their GSTR -1 and GSTR-3B in separate cells. “E-commerce players like Uber, Swiggy, Zomato and MMT would see few changes in monthly tax filings that will ensure more data points for the government system for big data analytics,” Mohan added. [ad_2] Source link

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[ad_1] Wildfire in southwest Turkey enters third day [ad_2] Source link

[ad_1] By Bhavik Patel Gold is only a commodity whose volatility is relatively low compared to other assets. Gold is stuck in the range of $1805-$1860 where both bulls and bears are playing tug of war. We are not expecting any rally until some confidence returns to the market. Right now markets are shuddering under the fear of recession. There is a shift in the market as inflation fears are giving way into recession panic which is helping the US dollar and Gold. Investors are shifting from risky assets like Equity and crypto currencies to safe haven assets like Gold and US Dollar. Gold’s outlook would be bearish if the Fed remains too hawkish. One of the reasons for lack of rally in gold is it appears traders are more focused on the bearish aspect of less demand coming from a possible U.S. and/or global economic recession, and less on the bullish aspect of inflation being historically bullish for hard assets like the Gold. Another phenomenon we have seen is blanket selling in all commodities due to rising rates and recession fears. Be it energy packs like crude and natural gas, base metals pack, equity asset class, crypto currencies and even agriculture commodities. All are subject to selling pressure barring Gold and US Dollar. Federal Reserve Chairman Powell’s comments to a Senate panel on Wednesday did little to alleviate worries the U.S. economy will slip into recession in the coming months. Even he is acknowledging that it would be challenging to engineer a soft landing for the US economy which means we won’t see any deep correction in gold. We have already seen buyers getting active around levels of $1800 so that would be a good level for any fresh long position. Now that the US Fed meeting is over, the next trigger for the market would be inflationary data. Gold continues to consolidate at current levels in MCX. Volatility index has been shrinking and it appears gold is setting up base. Both the 20 and 50-day moving average is hugging prices since 19th May indicating how narrow bound gold’s movement has been since last month. RSI_14 is also neutral at 46 indicating both bulls and bears are at level playing field. Important support for gold comes at 50000 and 49500 levels. Resistance comes at 51800-52000 level. Looking at range bound trading, trade set up for investors should be to buy around 50000 level and book profits around 51800 and any existing long positions should be exited around 51500 as sellers have heavy hands around that zone. Fresh long can be taken above the breakout of 52000 for targets of 53000 and stoploss of 51400. (Bhavik Patel is Commodity and Currency analyst at Tradebulls Securities, Views expressed are the author’s own.) [ad_2] Source link

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[ad_1] Toyota, Subaru shares drop after EV recall announcements [ad_2] Source link

[ad_1] While research and development remains crucial for manufacturing, India’s manufacturing sector is dominated by low-medium R&D industries. India’s R&D intensity—measured as expenditure on R&D as % of GDP—is less than 1% as compared to advanced nations’ 3%. As a result, the share of business in R&D expenses is low in India; around 63% of R&D originates from the government sector. India also has one of the lowest R&D personnel per thousand labour force. [ad_2] Source link

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