The passage of the bill will pave the way for setting up of a GST council that will decide the tax rate, cess and surcharges.
The government was considering further modifications in mega power projects policy, aimed at promoting capacity addition through fiscal incentives, Minister of State for Power Jaywanti Mehta told the Lok Sabha on Thursday.
Elon Musk's likely referring to waiver of 30% local sourcing norm for setting up single-brand retail
Hyundai Motor India Ltd reported a 17.84 per cent dip in its domestic car sales for February, and said it would soon reduce the price of its high import intensity models 'Elantra' and 'Sonata'.
Reflecting buoyancy in revenue sector, the central government's gross tax collection grew by over 18 per cent to Rs 1,94,231 crore (Rs 1942.31 billion) in the first nine months of this fiscal mainly due to robust growth in direct tax mop-up.
A day after slashing prices of its small cars, market leader Maruti Udyog Limited has cut the price of its premium sedan Baleno by Rs 8,000 with immediate effect.
More than half of the retail selling price of petrol and one-third of the selling price of diesel is made up of central and state duties, Petroleum Minister Mani Shankar Aiyar said on Tuesday.
SAIL and Essar are understood to have agreed on slashing prices on some steel products by up to Rs 2,000 a tonne.
Delhi-based Eli Lilly & Company (India) Pvt Ltd has cut by 40 per cent the price of 'Xigris,' used for treating food poisoning in line with reduced customs duty.
Unveiling far reaching fiscal reforms to improve tax mop up and wipe out revenue deficit by 2009, the Kelkar panel on Friday proposed a single countrywide goods and services tax, removal of tax exemptions and raising income tax slab to Rs 100,000.
Panagariya urged the government to undertake labour law reforms and make land acquisition more flexible to attract the multinationals.
The education cess will be a 2 per cent surcharge on the total payable tax, and not 2 per cent of total income.
The government on Friday hiked import tariff value on gold to $401 per 10 grams and on silver to $543 per kg in line with global price trends.
'If the current mood in North Block, headquarters of the finance ministry, is anything to go by, the government will now keep a closer watch on all kinds of schemes and projects undertaken by different central ministries. 'The next six months will determine which central schemes will have to be wound up and which ones will survive the axe,' says A K Bhattacharya.
The centre's tax revenue grew by 25.94 per cent year-on-year at Rs 52,283 crore (Rs 522.83 billion) during the first quarter of this fiscal due to robust growth in corporation tax and customs duty collections.
India is expected to link drastic reduction of huge financial support given to their farm sector by many western countries to the reduction of customs duty on agri-products by developing nations, in the WTO mini-ministerial beginning in Tokyo.
The government on Friday raised the import tariff value of gold to $461 per ten grams and of silver to $803 per kg as prices of the precious metals touched all-time high this week.
Petrol will cost less than Rs 18 a litre but for the duties levied by central and state governments, Petroleum Minister Mani Shankar Aiyar said on Tuesday.
Petroleum Minister Ram Naik sought, on Thursday, excise duty cut on petroleum products to check adverse impact of excessive volatality in international crude oil prices on domestic prices
European Commission asked India on Tuesday to address hindrances coming in the way of bilateral trade and favoured lowering of customs duties and doing away with non-tariff barriers to ensure level playing field for the importers.
The US side had pushed for removal of price caps on medical equipment such as coronary stents and a commitment by India to reduce trade imbalance
The Vijay Kelkar task force on direct and indirect taxes, submitted its report to Finance Minister Jaswant Singh.
India's current account deficit (CAD) will be contained at USD 45 billion this financial year, well below the record high level of 2012-13, Finance Minister P Chidambaram said on Monday.
Agriculture Minister Ajit Singh said on Tuesday the interest of Indian farmers will be safeguarded at any cost in the negotiations on agriculture to begin soon at the World Trade Organisation.
Major mobile handset companies have announced reduction to the extent of 26 per cent in their prices across all the segments following the reduction of basic customs duty to 5% along with abolition of 4% SAD announced in the Mini-Budget.
India's biggest carmaker Maruti Udyog Ltd on Thursday launched a variant of premium mid-size sedan Baleno and announced a price cut on its existing versions.
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