Soon after Hardik Patel quit the Congress on Wednesday, the opposition party alleged that the Bharatiya Janata Party has 'lured' the Patidar leader by promising to get cases against him withdrawn and has 'scripted' his resignation letter.
MSI chairman R C Bhargava said auto sector would like to see GST benefits linked to greener/cleaner cars. The government gave tax cut on EVs but hybrid should be given duty cut. There should be tax cut on CNG vehicles.
'Right now, we are increasing production in anticipation of the demand during the festive season.' 'If the demand doesn't come back, all the production will languish in the factories.'
Experts said the builders will now factor in their losses arising from the removal of input tax credit when they pass on the benefits to end users while the latter may want the entire GST cut to be given to them.
Higher oil prices, while not having an impact on Centre's revenues due to fixed tax rate, are pushing up states' sales tax revenue.
Asserting that India has full potential to emerge as a global hub for electric vehicles by 2025, Union Minister Nitin Gadkari on Friday asked automobile manufacturers to reduce cost and forego profit initially to capture market and fuel growth. Once the market picks up there will not be any looking back, Road Transport and Highways and MSMEs Minister Gadkari said, promising all support to manufacturers in the initiative aimed at cutting India's huge import costs of crude and arresting pollution. The minister said he is scheduled to make an hour-long presentation on EVs before the Chief Justice of India post-Diwali.
The mandatory use of the Indian flag on SCI's ships has been a bone of contention with prospective buyers, on account of the costs it will entail in terms of taxation and vessel registration.
Never before has the need for creating an ambience for economic policy reforms been as critical as it is now, points out A K Bhattacharya.
In order to overcome the difficulty, Indian Industries Association (IIA) in its pre budget memorandum has proposed to the government to enhance the rate of depreciation on plant and machinery to 50 per cent from 15 per cent. They have also asked to reduce the income tax for manufacturing enterprises to 20 per cent from present 30 per cent, as this would unlock some money in the hands of the entrepreneur to make capital investment.
'The Budget numbers presented severely underestimate the magnitude of the unstated fiscal crisis that we went through in 2018-2019, which cannot be conceivably be fully reversed in 2019-2020,' points out Rathin Roy, director, National Institute of Public Finance and Policy.
Dev also attacked Narendra Modi government for imposing '12 per cent' GST on sanitary napkins, which she said 'runs contrary' to the government's 'Beti Bachao Beti Padhao' campaign.
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.
India has been able to attract 40 global smartphone makers to the country -- creating at least 50,000 jobs. But GST could hurt that, discovers Ayan Pramanik.
Uptick in growth projected in second half of current fiscal based on 10 factors including higher FDI flows, build up of demand pressure, positive GST revenue growth
India's residential market is expected to sustain demand momentum despite rise in mortgage and property rates as sales this year across the top 7 cities are likely to breach pre-pandemic level of 2.62 lakh units, industry players said. After braving four back-to-back disruptions in form of demonetisation, RERA, GST and COVID-19 in the last 6 years, industry experts feel the housing market is going through a lot of structural changes and is now at the start of a long-term upcycle. Homebuyers body FPCE gives credit to the Real Estate Regulatory Authority (RERA) under the Real Estate (Regulation & Development) Act, 2016 for this improved buying sentiment.
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.
The deposit has been made on account of the rate reductions approved by the GST Council in its November. The rate was reduced on items including shampoo, detergents, chocolates, beauty products, sanitary ware, leather clothing, cookers, stoves, after-shave, deodorant, detergent and washing power. Companies found it difficult to pass on the benefits to consumers immediately at the time of GST rate reduction owing to logistical issues.
The broader NSE Nifty, after shuttling between 10,649.25 and 10,782.30 points, finally settled 90.50 points, or 0.84 per cent lower at 10,663.50.
First, the industry is hoping for brisk business, as, according to projections there will be normal monsoon. Secondly, it is relieved at the fall in import of cheap umbrellas from China which had dented the domestic market for several years.
The government on Thursday allowed free inter-state wheeling of renewable energy used in the production of green hydrogen and ammonia as it seeks to boost usage of the carbon-free fuel and make India an export hub. Unveiling the first part of the much-awaited National Hydrogen Policy, Power and New and Renewable Energy Minister Raj Kumar Singh said the government is targeting production of 5 million tonnes of green hydrogen by 2030. Oil refineries to steel plants require hydrogen to produce finished products.
83% of the CEOS plan to hire more in the new year.
'Non-separation of religion from politics is India's most daunting challenge'
'We will be voting keeping in mind the brunt we bore because of demonetisation and high GST rate'
When emerging from this crisis, the govt must consider a fresh approach to reviving growth, revisiting the Centre-state fiscal balance, and devising a re-imagined GST 2.0, suggests T N Ninan.
'It was a rare year when all three Khans -- Shah Rukh, Aamir, and Salman had a release each -- failed to deliver.' 'The performance of their films at the box office reflected the dwindling magnetism of the star when it came to getting people to the theatres.'
This brings its tax treatment on par with the Prime Minister's National Relief Fund.
'Till now, we were under tremendous stress. The economy was not recovering, the financial cycle was not moving and the banks were not supporting.' 'With the government pumping in money to the banks and asking the NBFCs to give priority to the MSME sector, there will be a revival.'
A Dubai trip plus Apple iPhone 12 is cheaper than buying the phone in India. Various models of the iPhone 12 Pro and Max are cheaper in Dubai by up to Rs 35,000 owing to higher GST, Customs duty in India.
With the introduction of the single window clearance provision, pre-production windows are expected to reduce significantly. Not only will it have an impact on the operational cost of the film, it will also allow studios to release films faster.
Commerce and Industry Minister Piyush Goyal that the players in the sector should start lowering prices and, if the worst comes to the worst, write off investment as bad business decisions.
Cheque payments will be safer; the limit for contactless card transactions hiked.
Of the seven surveys presented under Modi govt, predictions of three were quite close to the actual GDP growth rate, one saw the base year change in between, but the last three were way off the mark.
'One way to deal with these is to address these quickly and have rapid reaction teams in New Delhi, the state capitals and wherever possible.'
India is on the brink of overhauling its tax system, implementing the BEPS project and seeing a further evolution of the GST at the same time as a general election. This makes 2019 an exciting and challenging year, note Maulik Doshi and Jigar Doshi.
The Prime Minister's Office has said that these innovations will herald a new era of travelling comfort and enhanced mobility.
Customs officials are busy at ports and airports, scanning passengers to ensure that COVID-19 virus-affected people are traced. So, officials are not able to focus much on baggage checking. This could lead to more gold getting smuggled into the country as luggage check at airports is now random unlike earlier where every bag was checked thoroughly.
He also lashed out at the Congress for its opposition to the GST and for dubbing it as 'Gabbar Singh Tax'.
He is not good at thinking through laws and policies. His lockdown produced chaos and misery and didn't stop Covid. His GST finished off thousands of companies and reduced the amount of tax government collects to such an extent that he cannot pay state governments any more, observes Aakar Patel.
Many traders say that after demonetisation cash in the market has drastically reduced
'The current crisis is a result of a clash between a coercive attempt by the government to justify demonetisation and rising digital transactions against the market and the economy fighting the unexpected pressure from atop.'
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances