Laying fibre to home is a cumbersome and a slow process as every building has to be physically wired.
Arun Jaitley said he would put the DTC Bill in cold storage.
German automotive giant Volkswagen (VW) has said it will focus on the premium sedan/sport utility vehicle (SUV) segment and avoid the mass hatchback segment. "Customers don't expect anything less than a premium product from VW. "Customers expect a certain level of quality and driving dynamics. We have to stay true to that DNA. "The day we go mass, customers will reject us," says Ashish Gupta, brand director, VW India.
Sectors throw up a wishlist for the Finance Minister.
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.
In August 2021, Nick Read, chief executive of Vodafone Plc at the time, did not mince his words while speaking about the India business in an earnings call. Replying to an analyst's question on Vodafone Idea, a venture with the Aditya Birla Group that had piled on huge debts and worrisome losses, Read described it as a highly stressed situation that "they (Vodafone Idea) are trying to navigate... "We, as a group, try to provide them as much practical support as we can, but I want to make it very clear, we are not putting any additional equity into India.''
More companies with unconventional business models to get into messy legal hassles in India.
GST Bill needs a two-thirds majority in each House.
Now that the economy is growing at a higher-than-expected rate, it is time to accelerate the pace of fiscal consolidation, and the Budget could be a good starting point, argues Rajesh Kumar.
Heeding to demands made by several states, the GST Council on Friday put on hold a decision to hike the tax rate on textiles to 12 per cent and referred to a panel of state ministers to recommend rate by February, Union Finance Minister Nirmala Sitharaman said. The panel, the highest decision-making body for indirect taxes, met under emergency provisions after states made a request for deferring the tax rate hike on textiles, from the current 5 per cent, to be effective from January 1, 2022. Currently, the tax rate on manmade fibre (MMF) is 18 per cent, MMF yarn 12 per cent, while fabrics are taxed at 5 per cent.
Several exemptions have been given to reduce the cost of raw materials.
'They would not have had to impose GST on wheat, rice, buttermilk etc. if they had not toppled governments. People do not have to face inflation'
The instructions cite service rules that bar any government servant from making any adverse criticism of any policy or action of the government.
It is high time the Indian government signalled discomfort with the UK providing refuge to those accused of financial crimes in India, states Jaimini Bhagwati.
Under the GST regime, most manufactured goods will turn cheaper.
The constitution amendment Bill on a national GST is likely to be tabled in the current session of Parliament. However, the government is not confident of passing the Bill this session.
Small and medium enterprises had complained of tedious compliance burden under the Goods and Services Tax
'Milking poorly performing or easily marketable assets is the way to deliver more money for key programmes,' says T N Ninan.
The Rajya Sabha proceeding washed out completely on Wednesday and was adjourned for the day amid continued protest by the Opposition parties led by the Congress over price rise and levy of Goods and Services Tax (GST) on daily essentials.
The controversy over the goods and services tax (GST) rate on food products refuses to die. Now, the Gujarat-based authority of advance rulings (AAR) has ruled that 'parathas' would attract 18 per cent GST. The applicant, Vadilal Industries, sought to know whether various kinds of 'parathas' supplied by them would attract five per cent GST in line with 'khakhra', plain chapati or 'roti'.
The failure to reform has meant that there is no buzz about job opportunities, or about urban opportunities enticing young people off the farms. And it is this failure that has contributed to the widespread disappointment that threatens to make the next general elections closer than expected, says Mihir S Sharma.
In the past, the firm also acquired the Zandu brand which opened up its presence in the balms business
The 41st meeting of the GST Council, to be held via video conferencing, has just one agenda for discussion -- making up for shortfall in states' revenues, sources said.
The fiscal gains from implementing the GST and demonetisation, while almost certain to occur, will probably take time to be fully realised
S&P in November ruled out an upgrade in the country's rating for some considerable period, citing India's low per capita GDP and relatively high fiscal deficit.
There is much work to be done to design a good GST.
The government is confident of meeting the fiscal deficit target of 5.9 per cent of gross domestic product (GDP) and the nominal GDP target of 10.5 per cent despite pressure in the initial months of FY24, Economic Affairs secretary Ajay Seth told Business Standard. Normally the initial months of any financial year see proportionally a higher fiscal deficit because the expenditure is evenly paced while revenue picks up in the later months, he said. "This year the proportional fiscal deficit so far is much closer to the target than in most other years.
Rama Krishna Sangu, partner, Manohar Chowdhry & Associates, Chartered Accountants, and a member of the Indirect Tax Committee of ICAI, fielded readers' questions on GST on Rediff Chat.
Elections may be a few months away, but the government may get into election mode much earlier than that, predicts A K Bhattacharya.
The monsoon session of Parliament is likely to begin in the third week of July and end by mid August.
"Reform is not an end in itself. Reform for me is just a way station on the long journey to the destination. The destination is the transformation of India," he said.
The compensation would be met through levy of a cess called 'GST Compensation Cess' on luxury items and sin goods like tobacco, for the first five years.
The remarks by the CJI came against the backdrop of the recent remarks by Vice President Jagdeep Dhankhar who questioned the landmark 1973 Kesavananda Bharati case verdict that gave the basic structure doctrine.
In a rare face off, captains of the auto industry have hit out at the government for not walking the talk. At an industry event in the capital on Wednesday, R C Bhargava, chairman of India's largest carmaker Maruti Suzuki, and Venu Srinivasan, chairman of TVS Motor, questioned the government's intent to support the auto sector. Revenue secretary Tarun Bajaj sat in the audience listening, before his turn came to counter them.
Finance Ministry has asked excise and service tax officials to exercise caution while summoning CEOs and top functionaries of large firms or PSUs for probing any revenue cases.
Both prime ministers believed in crafting schemes to help the common man. Modi used quite effectively the instruments Dr Singh introduced. In assessing Modi's success with many schemes, Dr Singh's fundamental work should not be ignored, points out A K Bhattacharya.
A moderate GST rate obviates the need for the two-rate structure.
The Indian economy requires a Rs 3 lakh crore fiscal stimulus, including cash transfer to households through Jan Dhan accounts to spur economic growth amid the pandemic, industry chamber CII said on Thursday and pitched for appointment of a 'Vaccine Czar' for speedy vaccination coverage. CII president T V Narendran also said the chamber expects GDP to grow at 9.5 per cent in 2021-22 as the strong growth in the second half of the fiscal year will be supported by robust external demand and large-scale coverage of vaccination, allowing resumption of economic activity. He also advocated for appointment of a "Vaccine Czar" for speedy vaccination coverage.
'We went from zero to about 10 million users in three months. Paytm came out with the wallet play and we came out with the UPI play.'
Referring to socialist leader Jayaprakash Narayan, Sinha appealed for a lokshakti movement which will keep a check on raj-satta (government).
