The panel will also recommend a fiscal consolidation road map for the central and state governments, study the impact of GST on the divisible pool, and propose performance-based incentives for states.
With recent rate cuts, November collections could be even less
Govt doesn't buy restaurants' input tax excuse and has swing into action and looking into profiteering complaints on social media against prominent restaurant and franchise chains.
A panel will draft direct tax legislation, keeping in mind the system in other countries, international best practices and economic needs of the country
Provided talks on the matter are fruitful, the dividend payout will made during the current RBI financial year ending June 30, 2018.
'At the end of the day, we want to see maximum items out and only few items remaining in the 28 per cent slab.'
Rahul Gandhi, who is scheduled to again visit poll-bound Gujarat from Saturday, said the government can't break the back of small and medium businesses, crush the informal sector and destroy millions of jobs.
'Significant reductions in the compliance obligations mean businesses earlier struggling to comply will now have enough time to prepare and comply within the extended timelines.'
The GST Council's agenda includes trimming the number of items in the 28 per cent slab by 75 per cent, easier compliance for assessees and small taxpayers, and a presentation on bringing real estate under GST.
'There is something fundamentally wrong with the GST -- whether be it the rates, compliance, or the GST Network itself.'
Only luxury and 'sin' items could be left in highest slab. 12 and 18 per cent slabs could be merged in the future
Some measures announced in Indradhanush -- a 7-point Modi plan to revamp State-owned banks but not completed -- may be taken up again.
India worked in close partnership with the World Bank to improve its position, says NITI Aayog CEO Amitabh Kant.
'The full effects of the government initiatives will have to work their way through, whether in infrastructure or in the banking sector.'
For first time in 8 yrs, stake sale proceeds could exceed Budget Estimates. ONGC's acquisition of HPCL alone could get the exchequer more than Rs 30,000 crore.
Why should India buy olives from Europe when it could do so from the world's largest producers?
Inter-state supply may come under GST composition
Tax experts are nudging the authorities to figure out why so many assessees are not filing their returns.
Deadline ends, after two extensions and only 70% file detailed return for July
Poor performance of the banking, oil and exploration industries have impacted corporate tax collections.
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