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
Panel formed to simplify return-filing process, take feedback from stakeholders, experts
'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.'
'There were lots of functionalities the Group of Ministers asked us to incorporate.'
Only luxury and 'sin' items could be left in highest slab. 12 and 18 per cent slabs could be merged in the future
The case relates roughly to assessment years 2000-01 to 2002-03 and 2004-05 to 2007-08
Govt squeezed capital expenditure, and also cut revenue expenditure, that does not go into creating assets, by 11% in H1
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.'
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
NITI Aayog vice chairperson Rajiv Kumar tells Indivjal Dhasmana that additional funds could be generated through divestment, and that the fiscal deficit should be widened while focusing on the revenue deficit.
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