The one national GST unifies the country's $2 trillion economy and 1.3 billion people into a common market, an exercise that took 17 tumultuous years.
In its essence, GST is a national level system of value added taxation of goods and services, says Shankar Acharya.
GST stabilisation, DTC implementation and banking reforms are crucial for sustaining high growth for a long period, says Rashesh Shah.
After duty cut on imported wine, beer and spirits, the joint working group on Goods and Services Tax has been asked to recommend a new duty regime on goods and services.
The government on Monday announced a one-time Rs 10,000 interest-free festival advance to all its officers and employees as part of plans to increase consumer spending to spur demand in the economy.
Print media will not benefit from the Budget.
Software body Nasscom expressed its disappointment over the budget as it has no fresh proposals for the USD 100 billion Indian IT-BPO sector even as the industry's request to exempt SEZ income from Minimum Alternative Tax has been ignored.
Hindi film industry hopes to get some tax relief from the upcoming Budget 2015-16.
The government last fiscal missed its direct tax collection target, and for this financial year it has set a higher revenue mobilisation goal of Rs 13.80 lakh crore.
A political party's manifesto is the first stage of building a compact with the voters in any governance plan. If that compact is dependent on a document that reeks of fiscal imprudence and lacks credibility, it is a serious setback to the country's democracy and governance, says A K Bhattacharya.
There have been demands from a section of stakeholders that the long-term capital gains tax on equities be reimposed.
There will be a dramatic alteration in the role the Centre and the states will play to shape India's fiscal and economic destiny, report Nitin Sethi and Ishan Bakshi.
The surge in export, domestic demand and public spending in infrastructure projects might revive private investment during 2017-18.
A neutral Budget for media and entertainment sector.
While sale of residential properties increased only marginally despite plethora of steps taken by the government through the year, office space leasing rose 40 per cent to touch an all-time high of 46.5 million sq ft -- a trend that drew investors to lap up India's first Real Estate Investment Trust at an issue size of nearly Rs 5,000 crore.
Kiran Vissa, co-convenor of National Alliance for Sustainable Agriculture, said that amendments to the EC Act have nothing to do with farmers' welfare but instead meant to please big players and agriculture companies. This is because small and marginal farmers don't have the storage capacity to attract provisions of the EC Act.
The FM has been making efforts to make the taxation laws simpler.
State FMs okay list of tax-exempt services with certain riders.
With a growing penetration of the Internet, which reaches to rural areas of the country, the retailers would be able to deepen their market
Banks and friendly neighbourhood jewellers can serve as good channels to provide liquidity for gold deposits with built-in incentives for them, suggests Harsh Roongta.
Honest tax payers need not worry about the new black money law, says finance minister Arun Jaitley.
Here are the key highlights of the Interim Budget 2019-20 presented by Finance Minister Piyush Goyal in the Lok Sabha on Friday.
Cars priced above Rs 25 lakh account for 1 per cent in India's 3 million-car market and the share has remained unchanged over the last five years.
'The revival of household savings and investment is the litmus test of whether we are on the road to recovery,' says Nitin Desai.
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The Direct Taxes Code bill was introduced in Lok Sabha in 2010 and Standing Committee on Finance has given a report after its scrutiny.
Finance Minister keen to ease business policies in India.
The Budget may see new rural schemes and stepping up of funding towards existing programmes like MNREGA, rural housing, irrigation projects and crop insurance.
Changes in I-T rules kick in today; to help govt track taxpayers' income, reports Dilasha Seth.
While home-grown firms like Tata and Mahindra have been actively participating in the government's e-mobility mission, by launching electrified versions of their existing models, the global firms believe electric is not the best solution for a country where the primary source of power generation is coal, and where infrastructure is a big impediment.
In fact, no other recent Union Budget has held so much significance for the Indian economy as the one to be presented in about six weeks from now, notes A K Bhattacharya.
Structural changes to government finances could be focus of the Union Budget, says Mihir S Sharma.
Of the 11,000 kg imported between July 1 and August 9, around 90 per cent was brought in by two business groups which took advantage of the favourable reduction in tax incidence under GST, routing their imports through Korea.
Expects exemption of oil and gas profits from minimum alternate tax and all cess in the nature of excise duty are to be subsumed in GST.
The sector employs around 1 million skilled and unskilled workers directly and indirectly and decline in exports is a major worry for participants in the value chain.
Jaitley said Modi government has put decisiveness and transparency on forefront in face of obstructionism.
The duty reduction in feedstock would strengthen the domestic manufacturing in India making it more competitive leading to surge in exports of finished goods.
Rajasthan Congress chief Sachin Pilot said the manifesto was prepared after taking opinions through multiple platforms such as social media.
Jaitley is expected to present a common man friendly Budget.
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