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.
FM says, he will not tax the middle class.
The problem is not GST itself, but the nature of an economy dominated by small businesses unable to cope with the complexities of the tax, points out T N Ninan.
The Bill provides comprehensive legislation to prohibit unregulated deposits, with punishment for those promoting such schemes or defaulting on repayment.
Can the finance minister manage our expectations, asks A K Bhattacharya.
The GST Council on Saturday is expected to extend the date for IGST exemption and cess on imports
'The role reversal of those in favour of GST and those opposing it is troubling.'
The all-powerful GST Council on Friday decided to charge food delivery platforms such as Swiggy and Zomato a tax even as it extended concessional tax rates on certain COVID-19 drugs by three months till December 31. The Council, which comprises the Union finance minister and her state counterparts, decided to continue keeping petrol and diesel out of the GST purview as subsuming the current excise duty and VAT into one national rate would impact revenues. Briefing reporters on the decisions taken by the Council at a meeting here, Union Finance Minister Nirmala Sitharaman said GST has been exempted on muscular atrophy drugs like Zolgensma and Viltepso, which cost crores of rupees.
All subsidies will be eliminated by March 2018
The customs duty from gold imports could be approximately Rs 8,000 crore, about less than half of what was collected a year ago.
This could be the first instance when a consumer goods company would move court against NAA. The confrontation began after the government cut tax rates on over 175 items like toothpaste, shampoo, shaving cream and washing powder to 18 per cent from 28 per cent.
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.
GST will yield 'better value for money' for car buyers, increasing automobile industry demand, says Sandip Neogi.
Of the 700-odd Indians having foreign bank accounts, not all can be deemed to be operating these illegally.
Rising rural distress due to back-to-back droughts have put pressure on FM to spend more on social schemes; no change in tax slabs likely
Though the intent has been hailed as good for the economy, teething problems remain with a five-rate structure for various goods and services
Ironically, West Bengal, which has been seeking a postponement of the GST roll-out, has fared better among most other states.
Documents such as PAN card, Aadhaar card, I-T return papers, which are used for KYC, can get leaked from a number of sources. Other prominent sources are the direct sales agents and photocopy shops, say Sanjay Kumar Singh.
It is doubtful that our political masters are even aware of the features of the Model Law.
Metal sector is not too happy from Budget announcements for the sector
The IMG meeting will be convened shortly.
R Vignesh is a member of the Institute of Cost and Management Accountants of India in Chennai, appeared on Rediff Chat to answer readers' queries on GST.
Feroze Azeez, deputy chief executive officer of Anand Rathi Private Wealth Management, appeared on Rediff Chat to answer readers' queries on GST.
The forthcoming Budget, the last full one before the 2019 Lok Sabha elections, is expected to contain a number of sops and feel-good announcements, especially regarding social sector schemes.
Here's why consumers are shifting to large brands.
Many traders say that after demonetisation cash in the market has drastically reduced
The third-quarter financials didn't excite market watchers. But equity investors can still make money if they invest in the right stocks.
Of the 11,000 kg imported between July 1 and August 9, around 90 per cent was brought in by two business groups which took advantage of the favourable reduction in tax incidence under GST, routing their imports through Korea.
Compliance requirements, valuation, input tax credit transfers are likely to lead to tax litigation, says Sayan Ghosal.
Both are finding it difficult to sell one each of their plants -- Chennai Maraimalai Nagar (Ford) and Talegaon near Pune (GM) -- and are finding the road blocked by employee severance snarl-ups, report Sohini Das and Shine Jacob.
While home-grown firms like Tata and Mahindra have been actively participating in the government's e-mobility mission, by launching electrified versions of their existing models, the global firms believe electric is not the best solution for a country where the primary source of power generation is coal, and where infrastructure is a big impediment.
After staging a strong recovery from COVID-induced slowdown in 2021, India's exports are likely to extend the growth story to the New Year also on increased demand in the global markets, boost in domestic manufacturing due to production-linked incentive schemes and implementation of some interim trade pacts. Expectations of positive growth in the country's exports are also backed up by the outlook of the World Trade Organisation (WTO) which predicts a 4.7 per cent expansion in the global merchandise trade volume in 2022. Exporters believe that the outbound shipments would cross $400 billion mark in this fiscal going by the current momentum and may reach $475 billion in 2022-23.
Home First Finance will be answering readers' home loan queries. Mail your queries to getahead@rediff.co.in with the subject line 'Home Loan Query' and we will have your queries answered by Home First Finance.
The trend is expected to gain momentum as global vehicle makers in India, particularly from Japan, ride on hybrids to meet the more stringent fuel efficiency norms that take effect in 2022.
In 2020 a round of hikes in customs duty on components like compressors, motors and printed circuit boards aggravated the situation, coronavirus crisis is now leaving manufacturers with no option but to hike prices despite fall in sales.
Govt may not announce any new concessions in excise duty
10 million out of 51 million small and medium businesses have presence on Google Search
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.
Modi campaigned on the issue of national security, which cannot be ensured without a strong economy.
Sanjib Jha, CEO, Coverfox Insurance Broking, answers your health and auto insurance related queries.
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