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(MENAFN - IANS) y Subhash Narayan New Delhi, Feb 21 (IANS) The government may consider asset management and asset reconstruction company model to monetise non-core assets of public sector enterprises (PSEs). AMC and ARC or a bad bank has been proposed for the banking sector in Budget 2021-22 to acquire, manage and turnaround bad loans. The budget also talked about asset monetisation to unlock the true value of the assets lying with the government entities. The plan now is to create a special purpose vehicle (SPV) under the government route that could take the shape of an AMC/ARC and help maximise the value of the assets of the PSEs.
(MENAFN - IANS) y Subhash Narayan New Delhi, Feb 15 (IANS) Members of clubs, including sporting bodies and professional institutions will now have to fully comply with tax regulations and pay GST for any goods and service they receive from facilities to which they themselves are members or constituents. The Finance Ministry has introduced amendments in the Central GST Act through the Finance Bill, 2021 proposing levy of tax on activities or transactions involving supply of goods or services by any person, other than an individual, to its members or constituents or vice-versa, for cash, deferred payment or other valuable consideration. So, members of clubs and other bodies were enjoying tax free services and goods so far.