'When I came here in 2002, I said you can grow at 8%.' 'And I was told that was crazy, and (now) here we are.'
Chidambaram said he was honoured that the two leaders visited him.
"After the meeting which took place in Srinagar last week, it is safe to say that GST will be levied across the country starting July 1," Gangwar told ANI.
To make its voice more credible and impactful, the Congress must articulate its alternative agenda for reforms, economic growth and a more inclusive political discourse.
With the implementation of the goods and services tax less than 75 days away -- assuming July 1 as the roll-out date -- Sudipto Dey provides a guide to how businesses can navigate the transition.
Apart from the much-reported constitutional and political hurdles on a national Goods and Services Tax (GST), there is another basic one. Barely half of dealers in the country have a Permanent Account Number (PAN) from the tax department.
The tax, in lieu of local levies, will be imposed at the first point of a financial transaction.
Sourav Ganguly will have his hands full during his nine-month tenure
Economic growth has slipped to a six-year low of 5 per cent for the June quarter and is expected to turn in lower than that in the September quarter. Lack of consumption is seen as one of the key factors pulling down growth.
GSTN said those who do not want to give their Aadhaar numbers would have to undergo physical verification.
Money permits patronage. Money means power. No wonder details of the crores locked up in NPAs and never repaid loans are top secret, Sunanda K Datta-Ray.
Kisan Mazdoor Sangh (KMS) and Kisan Sena (KS) made a representation, which also included a demand for strengthening the dispute resolution system in case of any trouble in contract farming.
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.
A reformed Planning Commission should reflect the diversity of Indian debate.
The very design of the GST will bring in revenue buoyancy.
The central government's deposits with the RBI had fallen to just Rs 100 crore as of June 8.
Moody's Investors Service on Friday slashed its estimate of India's GDP growth during the 2020 calendar year to 2.5 per cent from an earlier estimate of 5.3 per cent, on account of the rising economic cost of the coronavirus pandemic.
This is the new addition to the tax data, which had identified over 600,000 people for scrutiny over huge inconsistencies in the cash deposits
The company will operate the IT system for five years.
'Initially, Gift City was just another real estate project, but all that changed with Modi moving to New Delhi,' notes Tamal Bandyopadhyay.
Polling in Vellore was scheduled on April 18.
Governments that did not respect the central bank's independence would sooner or later incur the wrath of financial markets, ignite economic fire, and come to rue the day they undermined the regulatory institution, Deputy Governor Viral Acharya warned.
Why can't we have a sunset clause for the ARCs, which is a global norm? questions Tamal Bandyopadhyay.
If you looked back at 2018 and had to give it a name, the Year of Limitations might be the most accurate.
The plea, filed by advocate Manohar Lal Sharma, termed the notification "illegal, unconstitutional and ultra vires to the law".
Bihar became the first non-NDA state and overall second after the BJP-ruled Assam to pass GST bill.
Going by the number of changes Mr Jaitley's next Budget is likely to see, he will go down in the history of Budget-making as the finance minister who ushered in the largest number of changes in a single Budget, says A K Bhattacharya.
A slew of challenges that are yet to be resolved include the lack of consensus between the Centre and states over the GST exemption threshold limit, dual control over scrutiny and assessment
Conscious that he will have to rely on the bureaucracy to deliver, Adityanath is changing the faces and rejiging the administration.
Nasscom president said moving from single to multiple points could be a challenge from the point of view of ease of doing business
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
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
Could the gains in terms of widening the tax net, increased digital transactions and detection of higher fake currency notes have been achieved without the huge disruption and output loss that demonetisation caused to the Indian economy, asks A K Bhattacharya.
Reserve Bank Governor Shaktikanta Das has pitched for policy support from all sides -- fiscal, monetary and sectoral -- to nurture recovery of the economy hit by the second wave of the coronavirus pandemic. The dent on economic activity due to the second wave of the pandemic during April-May necessitated continuation of monetary measures to support the process of economic recovery to make it durable, Das had said while participating in the meeting of the Monetary Policy Committee (MPC) earlier in the month. "Overall, the second wave of COVID-19 has altered the near-term outlook, and policy support from all sides - fiscal, monetary and sectoral - is required to nurture recovery and expedite return to normalcy," Das said, as per the minutes of the meeting released on Friday.
While the Centre is criticised for not cutting excise duty on petroleum products, it is the states which gain more from the rise in their prices
If the policy is extended to NBFCs and co-operative banks, they will have to disclose divergence in asset classification and provisioning during RBI inspections in their audited financial reports. Till now, these entities have been exempted from this. At present, there are more than 98,000 co-operative banks and 10,000 NBFCs. Sources said the RBI would concentrate on the top 50 co-operative banks and NBFCs.
It is possible that the Centre has now become wiser and has decided to follow an allocation system which gives it more from Integrated GST and helps boost its revenues, says A K Bhattacharya.
The GST rates for all but six items were finalised at the first day of the two-day meeting of the GST Council, headed by Union Finance Minister Arun Jaitley and comprising state representatives.
