If other states follow suit, it is going to become difficult for the GST Council to decide on the next stage of reforms.
However, it may still not change its stance on the policy rate as inflationary pressures are coming from high commodity prices.
'We now understand things that we have to correct.'
Since January 2021, the inflation rate in health has stood in the range of 6.08-8.44 per cent.
'Earning expectations remain strong.'
You can avail of tax deduction on expenses incurred on preventive health check-ups. This provision is beneficial to younger people who don't exhaust their Section 80D limit with their health insurance premium.
'We can go somewhere between 35 per cent and 40 per cent.'
'The signal is crude oil prices will rise, I am cutting my subsidy. Be prepared, prices will rise.'
Deciding the goods and services tax rate on fryums papad could be a messy affair with the Appellate Authority for Advance Rulings (AAAR) of Gujarat now ruling that the ready-to-eat product would draw 18 per cent rate. In that connection, it slightly modified the ruling of the state-based Authority for Advance Rulings (AAR). The AAR had also ordered that these products would draw 18 per cent GST but under a different classification.
'How low GDP would have been, we don't know.' 'It raises serious questions because so many indicators are pointing to such a sharp decline and GDP estimates are still showing 4 per cent growth.'
'There will always be a challenge to maintain a fine balance to ensure that the growth keeps happening and inflation is contained.'
Bharat Biotech is targeting to manufacture one billion doses of its intra-nasal vaccine in 2022 which is under clinical trials now.
'The classic thing we need as a country is the virtuous cycle where you have robust demand which leads to more capital spending which in turn leads to more job creation and more money in the hands of people.'
After the government sought Parliament's nod for a second batch of supplementary demand for grants that will cause a hit of Rs 2.99 trillion to the exchequer, doubts suddenly arose about the government's ability to meet the Budget projections of reining in its fiscal deficit at 6.8 per cent of gross domestic product (GDP), or Rs 15.06 trillion, for the current financial year. Till now, many were of the opinion that the government would succeed in checking the deficit at a much lower figure than what was given in the Budget Estimates (BE). The government had sought Parliament's approval to spend Rs 3.74 trillion extra, but Rs 74,517.01 crore will be matched by equal savings on other heads.
'Antibodies remain in the blood for at least seven to nine months.'
Come January and the government is empowered to send its recovery officials to your premises to collect GST without notice, if your tax liability shown in the requisite form is less than what invoices, mentioned in the outward supply form, should draw. The relevant provision in the Finance Act, 2021, will come into effect from January 1, 2022, according to a gazette notification issued on Tuesday. Under the GST system, there are two kinds of returns that a company is required to file monthly if its turnover is over Rs 5 crore annually. These are form GSTR-1 and GSTR-3B.
'It is far too early to celebrate the numbers.' 'They are still fairly weak compared to the pre-pandemic level.'
After dropping to a low of Rs 1,298 apiece, the stock finished at Rs 1,380, its lowest level since November 22, the second day of listing.
'While we note the very strong cyclical recovery in the economy, we believe there is still uncertainty over medium-term prospects.'
'We need to encourage the next generation of farmers to continue in farming'
