Modi said officers must fix clear targets to improve the country's tax administration by 2022, the 75th anniversary of Independence.
'We had just kept their recognition in abeyance, pending a verification with regards to new AITA President'
Drugs under exemption make up roughly 95 per cent of the antiretrovirals used by India's AIDS patients
Top firms get GST notices on credit claims on Friday; replies sought within hours.
'Modi had not discussed demonetization with me prior to his announcement on 8 November 2016. 'I learnt of it along with the rest of the country. 'I was not surprised when he did not discuss the issue with me prior to making the public announcement. 'It fitted in with his style of making dramatic announcements.' A fascinating excerpt from Pranab Mukherjee's The Presidential Years: 2012-2017.
'Those who are talking of adopting the Narasimha Rao-Manmohan Singh policy must understand now that what was a reform then is no longer a reform now,' argues Sukumar Mukhopadhyay who was associated with the 1991 economic reforms.
A pick-up in low-cost cigarette consumption helped India's largest cigarette maker boost margins
Top management of firms should be summoned for a few specified reasons and after written justification at a senior level.
The intelligence wing of Central Board of Excise and Customs has 532 officers and staff, he said, adding, the staff strength of DRI will double when cadre review is completely rolled out.
The FAQ also clarified that companies, including Titan, which supplies watches and jewels through their own websites will not be considered as e-commerce operators
The Centre's revenue from GST registered a decline of 10 per cent in 2017-18 compared to revenue of subsumed taxes in 2016-17.
The Directorate of Revenue Intelligence (DRI) has slapped a Rs 5,500-crore show-cause notice on Adani group for alleged over-valuation of capital equipment imports.
A recent data released by the Central Statistics Office (CSO) confirm that both the manufacturing and mining sectors shrunk in 2013-14 with fall in output.
As many as 30 sub-groups and committees worked tirelessly to devise rules and laws as well as fix tax rates for over 1,200 goods and services.
The government is going all out to spread awareness about the new indirect tax regime, and training lawmakers is being seen as a necessary first step.
The comments come at a time when the Supreme Court-constituted Special Investigation Team has detected funds worth about Rs 4,479 crore (Rs 44.79 billion) held by Indians in a Swiss branch of HSBC bank, while unaccounted wealth totalling Rs 14,958 crore (Rs 149.58 billion) have been traced within home.
Never before in post-reforms India have Union Budgets seen a steady reduction in fiscal deficit for five consecutive years, points out A K Bhattacharya.
GST reform has been hanging fire since 2006-07.
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.
Ironically, West Bengal, which has been seeking a postponement of the GST roll-out, has fared better among most other states.
The changes made in the revised GST draft throw up fresh issues but, overall, most of these look sensible, says T N C Rajagopalan.
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To get what it thinks are its dues, its brass have directed; construction, realty, renting of property, personnel supply, security & goods transport among those under lens
If the government tries to bring in real estate under GST now, it will be a typical case of biting more than what one can chew, says Sukumar Mukhopadhyay.
The Centre is likely to introduce the Central GST and integrated GST bills in late November or early December in the ongoing session in the form of money Bills.
The confidence that GST Network is capable of handling the returns, payments, reconciliation, refunds, etc., has been badly shaken.
The GST Council on Saturday is expected to extend the date for IGST exemption and cess on imports
Several exemptions have been given to reduce the cost of raw materials.
'Wine is an indicator of the quality of life,' says Alok Chandra.
In a maiden initiative, the Election Commission has introduced e-filing of affidavits by candidates for the forthcoming Lok Sabha and assembly polls.
Chidambaram to meet revenue boards on how to get much more and quickly; special audits and notices among measures likely.
The goods and services tax will level the playing field for different sectors of industry, including domestic manufacturing.
India studied the Malaysian model, which was scrapped on Wednesday, before implementing the GST and borrowed the anti-profiteering clause to ensure GST benefits are passed on to the end-consumer by the industry
Simplifying the processes will lead to greater efficiencies. Bad processes will not help even if implemented well, says T N C Rajagopalan
States' demand of compensation from Centre for loss of tax revenue not on agenda.
The minister said any declaration made under the law will be protected
The time the companies have to get ready for GST is 6 to 12 months.
It has always been accepted in various apex court rulings that economic policy is not justiciable. It can intervene only if the legislation is seen to violate fundamental rights says Sukumar Mukhopadhyay.
Senior New Delhi-based journalist R Rajagopalan, who has been closely following the Union Budget preparations since 1977, lifts the veil off India's most secretive operation.
The biggest achievement of demonetisation is that it has brought about a social revolution against black money and corruption, says Sukumar Mukhopadhyay.
Has the Modi government been more at odds with institutions than other governments? There is no doubt that there have been more run-ins. While the RBI and CBI cases have drawn attention, there have been others, less publicised, Subhomoy Bhattacharjee points out.
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