A hike in cess on luxury cars will not only hinder Jaguar Land Rover's network expansion but also prevent it from introducing new technologies in India, JLR India managing director Rohit Suri tells Shubham Parashar in an interview.
Additional solicitor-general says extra-neutral alcohol liable to new tax
The council decided not to levy any additional tax on small petrol and diesel cars of up to 1200 cc as well as on hybrid ones.
Senior Congress leader Jairam Ramesh puts it succinctly: "Arun Jaitley was every non-BJP person's favourite BJP-ite."
While the November 2017 round of rate revisions saw mainly eating joints unwilling to pass on GST benefits, this time round, sanitary napkin makers, TV manufacturers and even paint companies have said passing on GST benefits is not a feasible exercise.
Consensus seems a problem before the current session of Parliament ends.
India needs to spread irrigation and do so against a backdrop of rising water scarcity and depleting groundwater resources
Tax experts are nudging the authorities to figure out why so many assessees are not filing their returns.
Maharashtra raises vehicle registration fee, Tamil Nadu ups entertainment tax
We have to wait and see whether Jaitley's Budget speech translates into actions and desired outcomes, says T N C Rajagopalan.
It's an undeniable fact that after enactment of GST, buying insurance will become a little expensive impacting your term plans, health plans and motor insurance plans the most. But you should not ignore the importance of insuring your life, health, vehicle, says Harjot Singh Narula
Since the present law threatens to unleash an avalanche of litigation over a period of time, it makes sense to replace it with a simpler law and build complexities as more experience is gained, says T N C Rajagopalan.
The GST will replace more than a dozen levies central and state levies, including central excise duty, service tax and central sales tax as well as VAT on sale of goods and entry tax, to make movement of goods seamless across 1.3 billion market.
The surge in export, domestic demand and public spending in infrastructure projects might revive private investment during 2017-18.
Central Board of Indirect Taxes and Customs said despite the electronic way or E-way bill mechanism there has been rampant evasion and there is a need to increase compliance.
Fast-moving consumer goods companies have begun assessing the impact of the rate structure declared on Thursday under the goods and services tax.
The S&P BSE Midcap and the S&P Smallcap indices rallied over 1% each
The 30-share barometer remained up throughout and hit a high of 29,070.20, powered by a rally in RIL and other blue-chips. The index ended 215.74 points up, or 0.75 per cent, at 29,048.19 -- its highest closing since March 5, 2015, when it had closed at 29,448.95.
"GST should not become a 'grossly scary tax'. It should be a 'good and simple tax'," Surjewala said.
Godrej group Chairman Adi Godrej describes in an interview to Viveat Susan Pinto the way forward for the conglomerate after the implementation of the GST.
Fridge, washing machine, and paint makers are expected to cut prices shortly, while TV, aircon, and sanitary napkin makers are a disappointed lot
Chief economic advisor Arvind Subramanian discusses the Budget, goods and services tax, Centre-state relationship and larger issues facing the economy
The proposed bullion bank can help settle gold loan accounts in gold terms, and promote existing gold schemes, along with launching schemes including gold-recurring deposits.
As per practice a vote-on-account or approval for essential government spending for a limited period is taken in the election year and a full-fledged budget presented by the new government.
Broader market underperformed with the BSE Midcap and the BSE Smallcap indices losing up to 0.2%
...for others it would be an incentive to participate more robustly in equities and other tax instruments.
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.
Even if the GST rate is 18-20 per cent, there would be no average impact on inflation.
'The low tax to GDP ratio of the country will go up, helping the government to adhere to fiscal discipline and keep inflation in check.'
Experts have flagged issues regarding the levying of new cess/tax, especially those related to complications in administering the cess.
Experts point out that National Anti-profiteering Authority does not have the power to advise companies on depositing amounts voluntarily.
While the government has the option of ensuring the passage of these Bills as money Bills, there are voices within the government advising discretion on the GST roll-out by April 1.
It is far from clear that this GST will have the silver bullet effect that the "pure" GST would have provided, says Mihir S Sharma.
An area of worry relates to simplification of the refund procedure where the inverted duty structure prevails
The CAG audit and other data suggests it could be far from the efficient new alternative that was once conceptualised. A conclusive review remains elusive till the government begins to release more granular and comparable data on the complex backend of GST to a deeper scrutiny, by researchers, auditors and the public.
Select committees of the House have already submitted their reports
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.
Jaitley promised the states that they would be fully compensated for any loss of revenue arising from implementation of GST.
Others taxed at 5, 12, 18, 28%
'At the end of the day, we want to see maximum items out and only few items remaining in the 28 per cent slab.'
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