The panel decided to omit the reverse charge mechanism (RCM) clause from the GST law under which registered taxpayers buying from unregistered taxpayers have to deposit the GST.
The central government wants to impose the levy; many states are opposed - at least, to the Centre doing so
After helping the government in policymaking since October 2014, Chief Economic Adviser Arvind Subramanian is returning to academics and will be teaching at Harvard Kennedy School on a visiting position. In an interview to Dilasha Seth and Somesh Jha, he says the ease of doing business agenda needs to move forward and India must try to integrate with the global value chains. Edited excerpts.
GSTN is planning a disaster recovery drill and hence services will not be available for 12 hours, between 9am and 9pm, on July 1, and has requested the taxpayers to plan GST-related activities on the portal accordingly.
Reaching a consensus might also get tougher, as already seen with issues like inclusion of natural gas in GST and imposition of a sugar cess, both central proposals being resisted.
Weakness in the broader markets, along with expensive valuations that these companies had commanded during their IPOs, has led to this fall
Half a dozen companies looking to tap the market as the Indian rupee stabilises and oil prices cool down.
Insolvency and Bankruptcy Code bound stocks have witnessed a steep fall in 2018.
The ambiguity arose after notices were sent to lenders for non-payment of service tax under the pre-GST regime
Experts point out that National Anti-profiteering Authority does not have the power to advise companies on depositing amounts voluntarily.
India studied the Malaysian model, which was scrapped on Wednesday, before implementing the GST and borrowed the anti-profiteering clause to ensure GST benefits are passed on to the end-consumer by the industry
Every bank offers a different slab of minimum balance to customers, based on which 'free services' are provided
Mid-cap information technology (IT) stocks dominate the list of companies that are trading significantly above their 200-DMA
He said no matter how much evolution happens in technology, India could never become a fully cashless economy.
Several institutional investors were ineligible to invest in these companies as they failed to meet the disclosure norms
The trade-war between the US and China is prompting investors to flee from risky assets, such as equities, to safe-haven bets, such as gold and treasuries
Currently, companies are taxed in the jurisdictions in which they have a physical presence. However, digital businesses generate revenues from markets without a significant physical presence in a country.
The challenge before the management is ensuring simultaneous disclosure of key information to stock exchanges and investigating agencies.
The GST Council on Saturday is expected to extend the date for IGST exemption and cess on imports
Additional solicitor-general says extra-neutral alcohol liable to new tax
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