Foreign tourists may get tax refunds on goods bought in India https://ift.tt/3JPORLg executives and experts said section 15 of the IGST Act, 2017 provides for the Tax Refund for Tourists scheme but it has yet to be implemented. The issue has been taken up collectively by industry associations ahead of the Union budget for 2023-24, said Jyoti Mayal, vice chairperson, Federation of Associations for Indian Tourism and Hospitality.
Government's cash surplus tops Rs 3.4 lakh crore https://ift.tt/54P3HSG from the deceleration in government spending, higher direct tax collections and a likely sharp rise in issuances of Treasury Bills by the Centre in FY24 were factors pushing up the government's cash balances, analysts said. The flow of government cash balances to and from the banking system is a key factor that influences liquidity conditions.
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